Business Companies

Business Companies (formerly international business companies) can be incorporated in Pacific for the conduct of legitimate or legal business activities. The application for the incorporation of a Business Company must be made through a Pacific licensed Registered Agent.

Articles of Incorporation, Notice of Directors and Members, and the requisite fees must be provided to the Registrar of Business Companies to facilitate the incorporation process. Business Companies can be incorporated within 24 hrs of the receipt of the application.

Business Companies:

• must have a Registered Agent in FPFSA, through which all applications to the Registrar of Business Companies are to be made
• must provide all customer due diligence information on the Ultimate Beneficial Owner, Shareholder, and Director to the Registered Agent prior to the application for incorporation
• must state the nature of business activity it intends to engage in on incorporation
• cannot carry on any activity for which it requires a license granted by the Authority unless such a license has been granted. (e.g., Mutual Funds business, International Banking Business, International Insurance business).
• May have only one director and one shareholder
• may issue registered shares only. Bearer shares are not permitted.
• must adhere to economic substance requirements, where required
• may own land in FPFSA as long as it obtains an Alien Land Holding License
• Shareholders, directors, and officers may reside anywhere in the world, and their meetings may be held wherever they decide. There is no residency or nationality requirement for shareholders, directors, and/or officers of a Pacific registered Business Company.

Business Companies are eligible for taxation on income earned in Pacific. Upon incorporation, the Business Company must obtain a Tax Identification Number (TIN) from the Inland Revenue Department.