New Renewal and Variation Fees
VIPA’s Renewal and Variation application fees has undergone a 50% reduction from its initial rate of 60,000VT.
The change in renewal and variation fees falls in line with government policies with specific regard to new tax policies that may eventuate and the government’s efforts to reduce the high cost of administrative fees as imposed by various key agencies including VIPA.
This change will now see both renewal and variation applications being charged at 30,000VT per application.
VIPA is also announcing minor amendments to the current renewal application form effective as of 1st of March 2017. Every foreign investor intending to renew their VIPA Foreign Investor Approval Certificate (FIAC) is required to submit:
I. The employer VNPF number.
II. An updated list of all active employees as per Employer VNPF account to be provided by the VNPF management.
This is for the sole purpose of ensuring employee details are updated and accurate and that the data collected by the Authority correlates with data collected by the Vanuatu National Provident Fund (VNPF).
VIPA will continue to work closely with key agencies and the private sector to provide better service to customers and to uphold the “investor friendly” environment that promotes Vanuatu as an ideal FDI destination.