samoa.gif (855 bytes)Western Samoa
General:

Western Samoa consists of several Islands basically halfway between Sydney, Australia, and Hawaii in the USA. The country has been independent since the early 1960's. Its legal system is English common law based. The national language is a Polynesian variant, but English is widely spoken, and company documentation must be in English or Chinese. The country has a good telecommunications operation. Tourism is a key industry.

Offshore Companies:

Western Samoa has existing and well proven legislation permitting companies to be rapidly and simply incorporated for the purposes of conducting offshore business operations in the form of an International Company.

Setting up an International Company:

The registered agent (supplied by NACS) for the new company being formed files the company's memorandum of association with the company registry (after being signed) along with the articles of association. A company can be incorporated within 1-2 days.

Buying an International Company:

NACS offers off the shelf companies upon request. Name changes can be accomplished rapidly.

Company name guidelines and restrictions:

The name must be in the Latin alphabet, or in Chinese Characters, any name can be chosen provided it is not already in use, it is not obscene, and it does not imply insurance, banking, or governmental related operations or sponsorship. It may end with an approved company designation or abbreviation (Limited, Incorporated, Corporation, Societe Anonyme, Sociedad Anonima, etc.). Names implying or conveying an involvement in banking or insurance operations require consent.

Capital Requirements:

No minimum level required.

Local Registered Office Requirements:

An International Company must always maintain a registered office in the country, and must appoint and retain a resident as the company's registered agent. NACS provides these services for a fee via its associates.

Annual Company License:

This is acquired at the beginning and must be maintained annually thereafter. The annual license fees vary with the share capital of the company. Annual license fees not paid on time incur penalties.

Director Requirements:

At least one director must be appointed and maintained (who can be a corporate director ¡V which can be supplied by NACS). There is no residence or nationality requirement.

Shareholder Requirements:

A minimum of 1 subscriber must exist at the beginning. No register of shareholders is maintained in the public registry.

Company Secretary Requirements:

A company secretary must be appointed: either a person or corporate, no nationality or residence requirements. NACS normally will perform this function, for a fee.

Share Types Allowed:

Registered or bearer shares are permissible.

Taxation Requirements:

There is no taxation for an International Company's operations, assets, or profits. No tax treaties.

Exchange Controls:

There are no exchange controls.

Reporting Requirements:

No accounts or annual report are required to be filed. A company must keep financial records of the financial status of the company.

Secrecy:

No explicit secrecy legislation for International Companies. No disclosure is required of the beneficial owners of an International Company to the authorities.

Annual Tax/Filing Fee:

There is a minimum annual license fee/tax of US$300.00.

¡@

Summary Corporate Requirements:
Capital No minimum Standard authorized: US$1,000,000.00 Registered Office/Agent Yes
Min. Number of Shareholders One Company Secretary Required Yes
Min. Number of Directors One Local Meetings Required No
Corporate Director Permitted Yes Gov't Register of Directors No
Bearer Shares Permitted Yes Gov't Register of Shareholders No

¡@

Annual Reporting Requirements:
Annual Company Return No Annual Audited Accounts Reported No

¡@

NACS Services Available:

Director/Company Secretary

Banking services

Office facilities and services available (address, telephone number, fax, mail handling, etc.)