Merry Christmas, Meri Krismas, Joyeux Noël! Good bye, Tata, Adieu 2021 Welcome, Welkam, Bienvenue 2022!
It has been another challenging year for so many, with the pandemic still dominating all around the world. We are so grateful Vanuatu remains a covid-free country, and are looking forward to the day travel restrictions ease and we can see our overseas family and friends once more.
We are continually humbled by the custom and support from all of our clients and colleagues, and thank you all for trusting in us.
While we will have a few staff taking a well-deserved break, our office will remain open throughout the festive period.
Our 2022 calendar has been printed and is being delivered around Vanuatu. For all of our international friends, we are pleased to include the link to our soft copy. Do feel welcome to print locally, or save for easy reference.
We wish you all a very Merry Christmas, and send you our best wishes for the 2022 year ahead.
Jonathan Law, Vicki Joe, Ali La’au and the staff at Law Partners
https://lawpartnersvanuatu.com/wp-content/uploads/2020/08/lawpartners_logo_newsletter.png375710admin/wp-content/uploads/2020/04/lawpartners_logo2.pngadmin2021-12-22 22:14:552021-12-22 22:14:55Seasons Greetings and Law Partners 2022 Calendar – International Companies
Law Partners, having recently celebrated 50 years in Vanuatu, is proud to share another significant milestone.
In recognition of his achievements, hard work and commitment, Ali La’au has been appointed a Partner of the firm effective from 1st June 2021.
This is a very well-deserved appointment and one we are very proud to share.
Ali, a Ni-Vanuatu with his father hailing from South West Bay, Malekula and mother from Lotofoa, Tonga, we believe is the first Ni-Vanuatu to become Partner in a comparable firm.
Ali was educated in Vanuatu and New Zealand, going on to higher level studies in New Zealand, obtaining a Diploma in Management, and a Degree in Business Studies, majoring in Accounting.
After first joining us in 1998 when we were known as KPMG, Ali has continued on to today with Law Partners. Ali has continually displayed and shared his knowledge, professionalism and commitment to the firm, and to providing ongoing mentoring and training to staff around him.
Showing his desire for continual improvement, Ali, supported by Law Partners, went on to undertake and complete his CPA (Australia) qualification while in his role as Manager Audit and Accounting.
Ali has taken on many challenges, and has proven his worth time again, including having extensive audit experience, being the Auditor-in-charge of clients across various industries including domestic banks and insurance, airline, resorts, retail, Government aid projects and state-owned enterprises to name but a few.
Outside of the office, Ali also shares his time giving back to the community. Ali is passionate about Rugby Union, and devotes significant time to Rugby Academy Vanuatu (RAV) with coaching, managing and fundraising for all ages as well as an Executive member of the USP Rugby club and the Treasurer for the Vanuatu Rugby Football Union.
Jonathan, Vicki and the whole Law Partners team congratulate you Ali on your well-earned new title.
https://lawpartnersvanuatu.com/wp-content/uploads/2020/08/lawpartners_logo_newsletter.png375710admin/wp-content/uploads/2020/04/lawpartners_logo2.pngadmin2021-05-30 22:04:312021-05-30 22:04:31News from Law Partners – International Companies
As of 20 April 2021, the prescribed Government fees for a one year Work Permit have been changed from VT350,000 to Vt200,000. This is made up of a Vt20,000 application fee, and Vt180,000 Work Permit tax.
Any Work Permit application approved after 20 April 2021 will be required to pay only the application fee and Vt180,000 tax, regardless of whether the application was submitted prior to, or after this date.
Changes to Reserved Occupations
Changes to the list of occupations reserved for Vanuatu Citizens were announced on 20 April 2021, taking immediate effect.
Additions to the list are:
Assistance Financial Controller
Assistance Project Manager
Assistance Property Manager
While the following occupations were removed from the list as they were identified as scarce in local capacity to fill:
Earth Moving and related Machinery Operator
Construction Site Foreman
New Remote Worker Visa
A new Visa has been announced, to appeal to expats with the ability to work remotely – a Remote Worker Visa.
At this stage, the Remote Worker Visa is valid for a period of up to 11 months, and is renewable upon application. A holder of a Remote Worker Visa must be able to demonstrate that they work either for an international company, or for their own business outside of Vanuatu. They must not engage in any employment or commercial activities in Vanuatu, or seek employment with a Vanuatu company.
The Government fees are VT60,000 for an individual, VT100,000 for a family of four and VT40,000 for another dependent additional to the family of four.
If you would like any clarification on the Work Permit fees that might be applicable to you, assistance with your Work Permit applications, further information on the reserved occupations, or if you are interested in learning more, or applying for the Remote Worker Visa, or of course any other services we provide, please do not hesitate to reach out to us and we will be happy to help.
Xero Accounting Software
Law Partners is proud to be a Xero Accounting Software Partner.
Xero is a cloud-based accounting software which can be accessed online so you can keep on top of your business finances from anywhere, at any time. Xero provides business owners with real-time visibility of their financial position and performance in a way that’s simple, smart and secure, with nothing to install, updates are free and with automatic backup.
If you would like to start using Xero for your business, our team of experienced accountants are here to support you by assisting with Xero conversion, set-up, training, implementation and support.
Also, if you are an existing Xero user and require some assistance, we will be pleased to lend a hand.
Click on the image below to watch a quick introduction to Xero video or contact us for more details and advice on how we can help your business.
Body Corporate Administration & Accounting
If you are the proprietor of a lot in a strata plan or a member of a body corporate council, we can assist with the provision of services to help owners meet their responsibilities and obligations under the Strata and Community Titles Act, including abidance with regulations, by-laws and statutory requirements, maintaining appropriate records, assist with annual general meetings, maintenance and insurance of common property via the budgeting and collection of proprietor levies (administrative and sinking funds), production of annual accounts etc.
We are experienced Body Corporate Administrators and Accountants, and can assist both local and offshore proprietors’ investment interests in strata titled property in Vanuatu.
In some cases, we have assisted thankful owners and councils bring matters up to date, where nothing had been done since the property was strata titled, at which point the body corporate came into existence along with the associated responsibilities and obligations.
https://lawpartnersvanuatu.com/wp-content/uploads/2020/08/lawpartners_logo_newsletter.png375710admin/wp-content/uploads/2020/04/lawpartners_logo2.pngadmin2021-05-17 05:01:512021-05-17 05:01:51News from Law Partners – International Companies
We sincerely hope you are settling well into 2021.
We have been busy delivering our Law Partners calendars to our local clients and colleagues, and trust you will enjoy them as much as we did putting it together.
Unfortunately, due to the borders remaining closed and so many travel and postal restrictions around the world, we have been unable to offer our annual Law Partners calendar to our international friends this year.
However, we didn’t want you to miss out, so please see below for a PDF version of our 2021 calendar.
Please feel welcome to print locally, or save to your desktop for easy reference.
We are pleased to advise that the Government released its decision with regards to Business Licence fees and Road Tax in the latest Gazette No.05 of 2021.
We confirm that businesses that paid Business Licence fees (in part or in whole) between 1 January to 31 March 2020, i.e. on time, are exempted from paying Business Licence fees for the year ending 2021.
Similarly, if you paid your 2020 Road Tax (in part or in whole) between 1 January and 31 March 2020, you are exempted from paying the tax for 2021.
See below relevant extracts from the Gazette:
(h) despite subsection 18(2) of the Business License Act [CAP 249], the Director of Customs and Inland Revenue must ensure that a person that has paid the business license fees (in part or in whole) in the period of 1 January 2020 to 31 March 2020, is exempted from paying the business license fees for the year ending 31 December 2021.
(k) despite section 34 of the Road Traffic (Control) Act [CAP 29], the Director of Customs and Inland Revenue must ensure that a person that has paid the road tax (in part or in whole) in the period of 1 January 2020 to 31 March 2020, is exempted from paying road tax for the year ending 31 December 2021.
Should you have any questions, please do not hesitate to contact us.
PS: Our annual calendars are at the printers and will be delivered locally soon – unfortunately we will not be sending these overseas this year due to postage difficulties / delays in current times, however we will let you know soon how you can access a soft copy.
Very best regards
Jonathan Law, Vicki Joe and the staff of Law Partners
ATTENTION EMPLOYERS – ANNUAL RETURNS DUE TO LABOUR
The Department of Labour & Employment Services issued a notice to all employers and business houses to request them to submit an Annual Return, in accordance with Section 72 of the Employment Act [CAP.160] (see extract below), within one month of the notice.
Some of you may already have received this notice, if not, it was published on the Department of Labour & Employment Services’ website (see here) and in the Daily Post of Saturday 28 November.
If you would like our assistance with this Employers Annual Return, or any other matters, please do not hesitate to contact your normal Law Partners representative.
https://lawpartnersvanuatu.com/wp-content/uploads/2020/08/lawpartners_logo_newsletter.png375710admin/wp-content/uploads/2020/04/lawpartners_logo2.pngadmin2020-12-03 04:41:552020-12-03 04:41:55News from Law Partners – ANNUAL RETURNS DUE TO LABOUR – International Companies
New Financial Markets Association of Vanuatu will uphold the highest professional standards in online trading
Law Partners is proud to announce the launch of the Financial Markets Association of Vanuatu (FMA Vanuatu) which we co-founded along with five other Registered Agents for the Republic of Vanuatu’s Financial Dealers Licensing Program (FDL).
Launched officially on 13 November 2020, the new Financial Markets Association will “develop, implement and uphold the highest professional standards in order to protect our industry from financial crime, earn the trust of our partners and clients and contribute to the long-term prosperity of Vanuatu,” according to their mission statement.
The FMA Vanuatu will act as a self-regulatory body for FDL holders that establish online platforms used by retail providers to trade in financial instruments and securities. One of the aims of the non-profit organization is to enable a committee of peers and government regulators to consider and apply sanctions and process and arbitrate complaints in accordance with the FDL program. The FDL program was created in 2016 and is overseen by the Vanuatu Financial Services Commission(VFSC). The FMA Vanuatu will also help its members adhere to the highest international standards in online trading.
The FMA Vanuatu is based in Port Vila, just opposite Law Partners’ offices.
For any information about Financial Dealers Licensing or the Financial Market Association, please do not hesitate to contact us.
https://lawpartnersvanuatu.com/wp-content/uploads/2020/08/lawpartners_logo_newsletter.png375710admin/wp-content/uploads/2020/04/lawpartners_logo2.pngadmin2020-11-30 21:09:282020-12-01 20:30:16News from Law Partners – New Financial Markets Association – International Companies
NATIONAL BANK OF VANUATU ADVISES CLOSURE OF CORRESPONDENT BANKING RELATIONSHIP IMPACTING INTERNATIONAL COMPANY USD ACCOUNTS
In a letter sent to Law Partners last week, the National Bank of Vanuatu (NBV) advised that the National Australia Bank (NAB) has made the decision to close its correspondent banking division effective 31 March 2021. This decision impacts significant parts of the Pacific region.
As a result, NBV advised the following:
No new USD bank accounts will be opened for new International Companies from 2 January 2021;
New International Companies bank accounts can still be open, however not in USD; and
Current USD accounts will continue, however it is important to note that 31 March 2021, there may be difficulties if not a total stay on all USD transactions.
Please note that NBV can open bank account in several major currencies, such as AUD, NZD, EURO, GBP, etc.
If you already have a USD bank account with NBV, we would be pleased to assist if you wish to change the currency of your account(s) before 31 March 2021.
Please do not hesitate to contact us should have any questions.
https://lawpartnersvanuatu.com/wp-content/uploads/2020/08/lawpartners_logo_newsletter.png375710admin/wp-content/uploads/2020/04/lawpartners_logo2.pngadmin2020-11-25 04:33:262020-12-01 20:30:38News from Law Partners – NBV USD Bank Accounts – International Companies
Honorary Citizenship through the Vanuatu Development Support ProgramWe are pleased to share that Law Partners are now a government authorised agent to assist individuals and families achieve Honorary Citizenship through the Vanuatu Development Support Program (DSP).
Applicants can apply for Vanuatu Honorary Citizenship with Law Partners by making a (non-refundable) contribution to the local development fund, from a minimum of USD$130,000 for an individual. The contribution varies if applications include a spouse and / or child.The Citizenship acquired under the DSP is fully recognised, and allows successful applicants to be regarded as Ni-Vanuatu and have the right to reside in Vanuatu, with no minimum time spent in country requirements.
If you, or anyone you know would be interested in learning more about this, please get in touch, or click
here to learn more about the application process, requirements and fees involved.
We are excited to announce the redesign of our website is complete and is now live. Come and have a peek at our fresh new look, designed for easy navigation, and loaded with helpful information. Click here to find us.
https://lawpartnersvanuatu.com/wp-content/uploads/2020/08/lawpartners_logo_newsletter.png375710admin/wp-content/uploads/2020/04/lawpartners_logo2.pngadmin2020-09-15 22:32:442020-09-16 03:19:49Exciting news from Law Partners – International Companies