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Kiribati

Legal form:

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Delivery:

6 weeks

Price: $

$1,000

Payment methods:

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Requirements:

Document checklist:

Local legal address (Handled by B2B Hub) 

1.Passport
2.Proof of Residence 

Registrar

Organization name

Abbreviation

Country

Kiribati

Email

Phone

Listing
Open website
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About

Kiribati

Capital
Official languages
Population 
Currency

ISO 4217

South Tarawa

English and Gilbertese

119,438

Australian Dollar

KI

FAQ

FAQ for company formation in Kiribati:


Q: What are the different types of companies that can be formed in Kiribati?

A: In Kiribati, the following types of companies can be formed:

- Private company

- Public company

- Company limited by guarantee

- Unlimited company


Q: What is the minimum number of shareholders required to form a company in Kiribati?

A: For a private company, the minimum number of shareholders required is one, and for a public company, it is seven.


Q: What is the minimum amount of share capital required to form a company in Kiribati?

A: There is no minimum share capital requirement to form a company in Kiribati.


Q: What are the registration requirements for a company in Kiribati?

A: The following documents must be filed with the Registrar of Companies to register a company in Kiribati:

- Company name reservation

- Memorandum of Association

- Articles of Association

- Consent of directors and company secretary

- Notice of registered office

- List of directors and their particulars


Q: How long does it take to register a company in Kiribati?

A: The registration process in Kiribati takes about 3-4 weeks.


Q: What are the annual compliance requirements for a company in Kiribati?

A: The annual compliance requirements for a company in Kiribati include:

- Filing annual returns with the Registrar of Companies

- Holding annual general meetings

- Maintaining accurate accounting records

- Preparing and submitting annual financial statements


Q: What is the corporate tax rate in Kiribati?

A: The corporate tax rate in Kiribati is 30%.


Q: Are there any incentives for foreign investment in Kiribati?

A: Kiribati does not offer any specific incentives for foreign investment, but foreign investors are treated the same as local investors.

Economy

Kiribati is an island nation located in the central Pacific Ocean. It has a population of just over 115,000 people and a GDP of $521 million. The economy of Kiribati is largely dependent on fishing, tourism, and foreign aid. The country has seen a steady growth in its economy over the past few years, with a GDP growth rate of 3.2% in 2019.

The unemployment rate in Kiribati is relatively low, at just 4.2%. The country has a low inflation rate of 1.2%, and its currency, the Australian dollar, is stable. The government of Kiribati has implemented a number of initiatives to promote economic growth, including tax incentives for businesses and investment in infrastructure.

Kiribati has a strong agricultural sector, with the majority of its exports being fish and copra. The country also has a thriving tourism industry, with visitors from all over the world coming to experience its unique culture and stunning beaches.

Overall, Kiribati has a strong and growing economy, with a low unemployment rate and a stable currency. The government has implemented a number of initiatives to promote economic growth, and the country has a thriving agricultural and tourism sector.

Taxation

Kiribati is a small island nation in the Pacific Ocean with a simple tax system. Here is an overview of the tax system in Kiribati:


Corporate taxation:

- Companies in Kiribati are subject to a corporate income tax rate of 35% on their profits.

- Certain industries, such as fishing and shipping, may be eligible for tax concessions.

- Other taxes and duties that companies may be subject to include value-added tax (VAT), import duty, and environmental levies.


Personal taxation:

- Individuals in Kiribati are subject to personal income tax on their worldwide income at progressive rates ranging from 10% to 35%, depending on their income level.

- Other taxes that individuals may be subject to include import duty and environmental levies.


Tax payment process and calendar:

- Kiribati taxpayers are required to file their tax returns annually by July 31st of the year following the tax year.

- The tax year in Kiribati is from July 1st to June 30th of the following year.

- Companies are required to pay their corporate income tax by the end of the month following the end of the financial year.

- Individuals are not required to make advance tax payments.

- Late tax payments are subject to penalties and interest charges.


It should be noted that the tax system in Kiribati is relatively simple, and the government has been working to improve tax collection and administration in recent years. However, compliance with the tax laws and regulations in Kiribati remains important for both individuals and corporations.

Company incorporation application form

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Chosen company name

Main business activity

Legal address of director

Extra services

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PDF application form

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