Samoa

Population:

180,000

Currency:

Samoan Tala (SAT) is measured against a basket of several major currencies; US$1 = SAT 2.70 (mid-2005)

Language:

Vernacular tongue is the Samoan language which is similar to other Polynesian languages.

Time zone:

GMT minus 1

Centre's expertise:

Because of the dateline, Samoa can register a Hong Kong or China company yesterday

General requirements

Type of entity

International company

Type of law

The International Companies Act 1987

Shelf company available

Yes

Time to establish a new company

Within 24 hours

Taxation

Exempt from taxation

Double taxation agreements

None

Forex restrictions

Exempt from currency and exchange controls

Language & name restrictions on companies

Any language provided certified translation in English

Share capital

Permitted currencies

All major currencies except local tala

Minimum paid up

No prescribed minimum

Usual authorized capital

n.a.

Directors and personnel

Minimum number

1

Local required

No

Company secretary & qualifications

Yes

Shareholders and AGM

Minimum number

1

Disclosure requirements

None

Publicly accessible records

No

Obligations for annual meetings

Not if all members agree in writing not to do so

Location of AGM

Can be held anywhere, by radio, telephone, closed circuit TV or other electronic means of audio or visual communication

Accounts

Requirement to prepare

Yes, must be keep such accounts and records as directors deem necessary or desirable to reflect financial position

Audit requirements

No, unless licensed as an international bank or insurer

Account filing obligations

No, unless licensed as an international bank or insurer

Publicly accessible accounts

No

Other

Requirements to file annual return

No, unless licensed as an international bank or insurer

Change in domicile permitted

Yes 

Need to registered office

Yes

Number of companies set up in last year

3,900

Total number of companies on register

About 16,000