Vanuatu has a political and legal system that closely follows the UK being a parliamentary democracy based on the Westminster system, and the law is based on English law. The official languages are French and English, and the currency is the Vatu. The 80 small islands that make up Vanuatu are administered from Port Vila, and are connected to the outside world by excellent telecommunications and flights to major cities in Australia and New Zealand. ICs do not have the concept of authorised capital.
ICs pay no taxes in Vanuatu.
Upon incorporation ICs are exempt from taxes for 20 years. A minimum of one shareholder is required. Details of the shareholders do not appear on the public file. A minimum of one director is required and corporate directors are permitted. There is no requirement to file the details of directors on any public record.