KAW PING Co., CPAs (BWKP)'s LOGO' KAW PING Co., CPAs (BWKP)KAW PING Co., CPAs (BWKP)

Offshore Company Samoa Samoa

1.Introduction

(1) Geographic Location

Geographic Location of Samoa

The Independent State of Samoa is a South Pacific island country situated between Hawaii and New Zealand; west of American Samoa; and center of Polynesia. On January 1, 1962, United Nation (UN) officially recognized West Samoa as a country of sovereignty. The country was renamed to Samoa in 1997 and since then became country with peaceful and stable social, political and economic conditions.

(2) Economy

Being heavily dependent on agriculture, Samoa produces coconuts, cocoas, breadfruits and bananas. Regarding the industry sector, it has small light industry and agricultural product processing industry. Tourism, on the other hand, is also counted as the backbone of Samoa’s economy.

(3) Tax System

At the end of 1980s, Samoa passed Offshore Company registration relevant laws; in 1987 and the following year, it then promulgated International Company Act and relevant legislation. To make the Act more concise, fulfill the demand of Asian Market and facilitate companies’ operations, Samoa made some amendments to International Company Act, to make it alike with that of British Virgin Islands. Samoa has official diplomatic relations with and an embassy in mainland China. For companies whose documents need to be certified by the government of mainland China, relevant services will be provided to facilitate the process of making an investment in mainland China.

2. Conditions and Advantages of Establishment

  • Scope of Applications An international holding company (invested by mainland China)
  • Registered Capital Generally USD 1,000,000
  • Shareholders 1 (may be a natural person or juridical person, shall be above 21 years old)
  • Directors 1 (may be a natural person or juridical person, shall be above 21 years old)
  • Secretaries 1 (may be the same as the director)
  • Stock Issues Registered
  • Company Information Public inspection is not required for information of the company’s directors and shareholders. However, the said information shall be preserved by the registration office.
  • Annual General Meeting of Shareholders Not required
  • Annual Report and Statement Declaration Not required
  • Tax Burden No tax on foreign income
  • Whether to mark its Chinese name. Yes
  • Working days required to set up the company. (1) Listed company: 4 to 7 working days.
    (2) Self-named company: 21 to 30 working days.