Law in the Republic of Vanuatu consists of a mixed system combining the legacy of English common law, French civil law and indigenous customary law. The Parliament of Vanuatu is the primary law-making body today, but pre-independence French and British statutes, English common law principles and indigenous custom all enjoy constitutional and judicial recognition to some extent.
Formation of Limited Liability Company in Vanuatu:
Package includes the following set of corporate documents:
– Nominee Directors:
The appointment of nominee directors has to do with people who will be managing the company, considering any kind of business.
– Nominee Shareholders:
Nominee Shareholders will be holding the Company’s shared documents for the avail of the clients.
-General Power of Attorney:
It is issued by the administrator for the benefit of the clients and it is valid for 12 months.
A General Power of Attorney grants the client with broad powers, represents and acts for the Company before third parties, institutions and authorities.
-Special Power of Attorney:
It is emerged by the director for the benefit of the clients, which is valid for 12 months.
A Special Power of Attorney, also known as Limited Power of Attorney, grants the client with particular authority to represent and act the Company for particular matter. For instance, it is useful for the opening of a bank account.