Papua New Guinea is the largest and most populated island in the South Pacific and has an important reserve of natural resources. It has a large and modern mining sector in which foreign capital is well represented.

Foster Swiss is an international financial consultancy registered in Switzerland providing financial and compliance advice on a variety of issues related to company formation and commercial banking on an international basis.

FACILITIES TO CREATE THE COMPANY 

In general, Papua New Guinea 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 to open a bank account or register a company.

In Papua New Guinea, the LLCs (Limited Liability Companies) can market all products and services and is the most common type of company.

According to the type of company and the objective of the investment project, the Government of Papua New Guinea offers incentives, one of them being a 10-year corporate tax exemption for any company located in one of the rural development projects.

In the case of export-oriented companies, they will have a corporate income tax exemption.

If the company is focused on agribusiness and tourism, they will have a full deduction of capital costs.

Papua New Guinea offers security to foreign investors through agreements, treaties and understandings signed (SPARTECA, PICTA, PATCRA, PACER, among others.) It does not present any record for sanctions.

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