Wallis and Futuna

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6 weeks

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$500

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1.Passport
2.Proof of Residence

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Organization name

Abbreviation

Country

Wallis and Futuna

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About

Wallis and Futuna

Capital
Official languages
Population
Currency

ISO 4217

Mata-Utu

French

11,817

CFP Franc

FAQ

Frequently Asked Questions for Company Formation in Wallis and Futuna:

Q: What is Wallis and Futuna?

A: Wallis and Futuna is a French overseas collectivity located in the South Pacific, consisting of three main volcanic islands and several smaller ones.

Q: What is the legal system in Wallis and Futuna?

A: As an overseas collectivity of France, Wallis and Futuna's legal system is based on French law.

Q: Can foreigners form a company in Wallis and Futuna?

A: Yes, foreigners can form a company in Wallis and Futuna, subject to certain requirements.

Q: What types of companies can be formed in Wallis and Futuna?

A: The most common types of companies in Wallis and Futuna are the Société à Responsabilité Limitée (SARL), which is a limited liability company, and the Société Anonyme (SA), which is a public limited company.

Q: What are the requirements for forming a company in Wallis and Futuna?

A: The requirements for forming a company in Wallis and Futuna include obtaining approval from the Wallis and Futuna Economic Development Agency, having a minimum of two shareholders, and depositing the company's capital in a bank account.

Q: What is the process for registering a company in Wallis and Futuna?

A: The process for registering a company in Wallis and Futuna involves drafting the company's articles of association, obtaining approval from the Wallis and Futuna Economic Development Agency, depositing the company's capital in a bank account, and registering the company with the local trade register.

Q: What taxes are applicable to companies in Wallis and Futuna?

A: Companies in Wallis and Futuna are subject to French taxes, including corporate income tax and value-added tax.

Q: What is the minimum capital required to form a company in Wallis and Futuna?

A: The minimum capital required to form a company in Wallis and Futuna varies depending on the type of company, but it is generally low.

Q: Are there any restrictions on foreign ownership of companies in Wallis and Futuna?

A: No, there are no restrictions on foreign ownership of companies in Wallis and Futuna.

Q: What is the language of business in Wallis and Futuna?

A: The official languages of Wallis and Futuna are French and Wallisian, but French is the language of business.

Economy

Wallis and Futuna is a small island nation located in the South Pacific Ocean. It has a population of approximately 11,000 people and a GDP of $90 million. The economy is largely based on subsistence agriculture, fishing, and the sale of handicrafts. The main export commodities are copra, coconut oil, and handicrafts. The main imports are food, fuel, and manufactured goods. The unemployment rate is estimated to be around 20%, and the inflation rate is around 2%. The government has implemented a number of initiatives to promote economic growth, including the establishment of a free trade zone and the development of tourism. The World Bank has provided financial assistance to the country to help improve its infrastructure and promote economic development. Overall, Wallis and Futuna has a small but stable economy that is slowly growing.

Taxation

Wallis and Futuna is a French overseas collectivity located in the South Pacific. As such, its tax system is closely tied to the French tax system, with some adaptations to the local context.

For corporate entities, the corporate tax rate is 28%. There is also a local tax on production activities, which varies depending on the type of business activity.

For individuals, there is a progressive income tax system with rates ranging from 0% to 45%, similar to the French tax system. In addition, there are social security contributions and a local property tax.

The tax year in Wallis and Futuna runs from January 1st to December 31st. The tax return for individuals is due by May 31st of the following year, and the tax payment is due by the end of June. Corporate tax returns are due by May 15th, and the tax payment is due in three installments: 25% in May, 25% in September, and 50% in December. The local tax on production activities is due in two installments, in July and December.

Taxpayers can file their tax returns online or by mail. The tax authorities in Wallis and Futuna also offer assistance and information to taxpayers through their website and customer service channels.

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