New Application
All foreign investors are required to submit an application for a new investment in Vanuatu under two circumstances:
- New Investment: If the foreign investor is setting up for the first time in Vanuatu, their investment proposal must be submitted through a new Foreign Investment Approval Certificate (FIAC) Application Form along with a business plan and relevant documents as outlined in the checklist.
- Unrelated Investment Activity: If an existing foreign investor wishes to venture into a new investment activity that does not have any correlation to their existing investment activity(s), they are required to submit a new application outlining their new investment proposal to the Authority along with all relevant documents.
Renewal Application
All foreign investors are obliged under the VIPA Act, to annually renew their existing investment projects through the Renewal Application form.
Foreign investors have the opportunity under the Renewal Forms to state any difficulties/challenges faced during their implementing period. It is important that foreign investors report accurately as possible for purposes of progress tracking and data collection.
Certain investment activities under the VIPA require a minimum threshold to be met. For example, F4 activities (Professional and Other Service Activities) require a performance of at least 5 million vatu and over. If the business continues to under-perform by not meeting respective thresholds, the investor risks the revocation of their FIAC.
Variation Application
Foreign investors must be informed on the different variation requirements. A variation with VIPA is necessary when the foreign investor wishes to change any of the following:
- Business/Company name.
- Investment Shareholding structure.
- Business location and any addition of a correlating investment activity.
An investor is expected to apply for a Variation after the implementation of their existing VIPA investment approval.