Fact File

Fact File Supplied By

Samoa International Finance Authority

Location

South Pacific Ocean

Time zone

UTC/GMT,+13h, during Daylight Savings UTC/GMT +14h.

Population

197,097 (as of October 2019)

Capital

Apia

Airport(s)

Falcolo International Airport, Fagalii Airport

Language

English, Samoan

Currency

Samoan Tala (SAT)

Political System

Parliamentary democracy consisting of 50 members of parliament elected by citizens 21 years and over. The Constitutional Amendment Act 2013 reserves 10% of the seats for women.

International Dialing Code

+685

Legal System

Common Law, Westminster based system as is the case with Commonwealth countries.

Centre's expertise

International Business Companies (IBCs), foundations and trusts.

Personal income tax

Progressive

Corporate income tax

27%

Exchange restrictions

None.

17 TIEAs

San Marino, Monaco, Netherlands, Ireland, Australia, Sweden, Finland, Greenland, Iceland, Norway, The Faroe Islands, Denmark, New Zealand, Mexico, South Africa, Japan and Republic of Korea.

Permitted currencies

US$

Minimum authorised capital

None

Minimum share issue

None

Shelf companies

Yes

Timescale for new entities

For IBC's one day, or less than 24 hours. For other licensed entities the timescale is dependent on application and supporting documents received.

Incorporation fees

USD $300

Annual fees

As above or as prescribed by the Registrar.

Minimum number

One

Residency requirements

Must be non-residents and non-citizens of Samoa or as provided for under the relevant legislation.

Corporate directors

Permitted

Meetings/ frequency

Whenever directors consider meeting necessary they can be held anywhere in the world or electronically.

Disclosure

None

Bearer shares

Prohibited under the International Companies Act 1988.

Minimum number

None

Public share registry

None

Meetings/frequency

Whenever directors consider meeting necessary to be held.

Annual return

None

Audit requirements

Every international company shall appoint a registered company auditor within 90 days of its incorporation. An auditor of an international company shall carry out an audit in respect thereof in each audit period. Every auditor shall report to the members as to his or her audit and matters disclosed thereby and shall give such further reports and information as are required by regulations made under the International Companies Act 1988.

Registered office

Every IBC must have a registered office in Samoa.

Domicile issues

Permitted under the International Companies Act 1988 and other international financial services laws.

Company naming restrictions

Undesirable names in the opinion of the Registrar or names containing restricted words as determined by the Registrar.