Papua New Guinea is an archipelago of 6 islands very close to the north of Australia in the Pacific Ocean. English is its official business language.

Foster Swiss is an international company registered in Switzerland to provide financial and compliance advice on a variety of issues related to international business formation and commercial banking. We specialize in business implementation in different jurisdictions, which means that we offer value-added services assisting our clients in their expansion abroad.

Some of these services include: Advisory and consulting, visas, offices, director / shareholder / nominee secretary, accommodation if required. Consult with your assigned consultant for more information.

BUSINESS MODALITIES IN PNG

In general, this country offers advantages to the foreign investor to facilitate in an expeditious manner the opening or creation of an offshore office. In the case of wholly foreign owned companies, it does not require initial capital and does not require that the Director, Manager, Shareholders or Legal Representative reside in Papua New Guinea, nor does it require that they travel for the opening of the bank account, nor the registration of companies.

There are other business modalities that can be created in this Island Country such as LLC (Limited Liability Companies) that can commercialize all products and services. It is the most common type of company, to initiate the opening of a foreign company in this insular jurisdiction the minimum capital is 1 US dollar.

When the percentage of foreign participation in the company is 50%, a certification issued by the Investment Promotion Authority is required.

The representative offices can also be constituted 100% by foreign investors but their limitation is that they cannot directly market their products in Papua New Guinea. Branches in PNG would be the ideal office to create, in case they need to strengthen the financial statements of the head office.

In Papua New Guinea for all the above mentioned business modalities the average time for the start of operations is a minimum of 2 months, maximum 4 months.

The estimate of the total costs with deductible accounting and tax rates for any of the modalities of the companies to be created is $5,340 dollars.

For more information on this topic or any requirement related to our services, you can contact us directly through info@fosterswiss.com. Consult with a financial advisor for more information.