Travel Slogan Fiji

 

 

 

 

 

 

Strategically located in the heart of the South Pacific, Fiji offers a cost-competitive location for investors intending to set up offshore operations for the manufacture of advanced technological products for regional and international markets. Fiji has today become an export-driven economy spurred by high technology, knowledge-based and capital-intensive industries.

There are numerous opportunities in the traditional economic sectors as well as in rapidly emerging sectors like ICT and integrated resort development. Fiji has a proven track record in attracting investors from all over the world, many of whom have re-invested in multiple projects in Fiji.

Being a market-oriented economy and supported by pro-business Government policies, Fiji offers investors a dynamic and vibrant business environment through the efficient regulatory environment, a highly skilled and multi-lingual workforce and a culture of innovation. Fiji boasts of an unspoiled environment of pristine beauty and is a nature lover’s delight. Located at the crossroads of the Pacific, Fiji is the exotic melting pot of cultures of Fijian, Indian, Chinese, South Sea Islanders and European settlers.

Over the years, Fiji has secured its place as a truly advantageous, safe and business-friendly location of unparalleled quality for ALL investors. The country is poised for further growth as it is the major business hub in the Pacific Region.

Geography

Land Area:      18,333 square kilometers
Terrain:            mostly mountains of volcanic origin
Islands:            Viti Levu and Vanua Levu
Capital:            Suva

Population

Population:      Approximately 890,057 (July 2011 est.)

Ethnic Group: Fijian 57.3% (predominantly Melanesian with a Polynesian admixture), Indian 37.6%, Rotuman 1.2%, other 3.9% (European, other Pacific Islanders, Chinese) (2007 census)

Religions:        Protestant 55.4% (Methodist 34.6%, Assembly of God 5.7%, Seventh-Day Adventist 3.9%, Anglican 0.8%, other 10.4%), Hindu 27.9%, Roman Catholic 9.1%, Muslim 6.3%, Sikh 0.3%, other or unspecified 0.3%, none 0.7% (2007 census)

Languages:      English (official), Fijian, Hindustani

Great Reasons to Invest in Fiji

1. Fiji is the centre of trading in the South Pacific for the South Pacific – Asia, USA and Europe Region. Fiji is not only the centre of trade, but has also transformed into a hub for global communications and transportation (shipping and air travel) routes.

2. A package of trade and investment incentives including duty concessions, investment allowances, tax exemption and tax free regions.

3. Corporate Tax Rate is 20%

4. A foreign company that establishes/relocates its Headquarters to Fiji will be subject to a low corporate tax rate of 17%.
5.  A listed company on the South Pacific Stock Exchange (SPSE) will be subject to a low corporate tax rate of 10% provided the company has 40 percent local shareholding structure. Income earned from trading of shares in SPSE will be exempted from Income Tax and Capital Gains Tax.
6. A government that welcomes and supports local and foreign investment, within its overall objectives of growing the various sectors of Fiji’s economy; enticing new, and retaining existing, investors by providing them with tax and other incentives to boost their businesses.
7. State of the art telecommunication infrastructure that provides links through fibre optic cable connections and satellites to the rest of the world.
8. A well-developed infrastructure, including electricity, water supply, international airports and wharfs.
9. Availability of factories land and buildings at reasonable rates.
10. Well-developed banking and financial institutions providing full financial services.
11. Fast registration of foreign investment projects.
12. Well educated workforce with a literacy rate of 93.7%.
13. Good health and medical facilities including a modern private hospital and medical centres.
14. Fiji is signatory to various trade agreements, frameworks and memorandum of agreements. This allows for better market access and provides a conducive investment climate and opportunities with other countries.

          fiji2 

 

 

 

 

 

 

 

 

 

The Foreign Investment Act (FIA) 1999 and Foreign Investment (Amendment) Act 2004 lay down the guidelines by which a foreign investor can invest in Fiji.  There are 20 Articles in the Foreign Investment Act 1999 and Foreign Investment (Amendment) Act 2004.

 

The following profiles have been prepared by Investment Fiji for information:

  1. Agriculture;
  2. Audio Visual Profile;
  3. Fisheries Profile;
  4. Forestry Profile;
  5. Information Communication Technology (ICT) profile;
  6. Manufacturing;
  7. Mineral & Groundwater Profile; and
  8. Tourism.

 

These Sector Profiles provide information on the sector overview, investment opportunities that exist within the sector  and incentives available for investors in the respective sector.

Property Investment

Freehold land – estate in fee simple
Approximately 6% of land in Fiji is freehold land. Freehold land can
be purchased, transferred or leased freely by the residents of Fiji.
Nonresidents need to obtain the consent of the Minister of Lands
under the Land Sales Act if they:
• purchase or lease more than 1 acre of freehold land from a
resident;
• purchase or lease any freehold land from a resident when the
area of this land is aggregated with any other land already held
by a non-resident of Fiji and when the total area of both lands
exceeds 1 acre; and
• purchase freehold land of any size from another nonresident.

Non-residents need to obtain the consent of the Minister of Lands
under the State Land Sales Act if they:
• purchase or lease more than 1 acre of State land from a resident; and
• purchase state land of any size from another non-resident.That is,investors can purchase personal property. However if the freehold property is larger than one acre than the Minister of land’s approval must be sought first.

Operational Requirements for Foreign Corporations

Foreign companies can establish a place of business in Fiji. If they
wish to do so, they must register themselves with the Registrar of
Companies under the Companies Act within 30 days of establishing
a place of business within Fiji by providing the Registrar of
Companies

Elegant’s FOREIGN CURRENCY ACCOUNTS SCHEME IN FIJI

Under the Scheme, non-residents can either hold foreign currency denominated deposits or Fiji dollar accounts in our linked Fiji Banks. However, on foreign currency deposits, investors with deposits of more than the equivalent of F$300,000 will be eligible for tax exemptions on the interest income. However, participants are encouraged to hold funds in Fiji dollar term deposits as there is no threshold to qualify for tax free exemption on interest income.

Eligibility

The programme is open to citizens of all countries, including Fiji residents who have emigrated.

Amount

Any amount maybe placed in fixed deposit

Tax Exemption

Interest income for deposits above F$300,000 will be exempt from local tax,however, participants in the“Foreign Currency Accounts Scheme” must apply to FIRCA for a Certificate of Exemption from income tax.

More Information please contact ElegantInvest’s Fund Management Team.