|
Business inFrench Polynesia is governed by French Commercial
Laws and corporate structures in Tahiti are the same as those existing in
metropolitan France.
Authorities have had active
development policies - with a full set of incentives and tax exemptions - to
generate new employment opportunities.
Procedures for setting up a
company and registering it in the Trade Registry are very simple with the local
Chamber of Commerce and Industry (CCISM).
The principle adopted is the freedom of foreign
investments.
Nonetheless,
investments in the following sectors are subject to prior authorization (see
Assembly Deliberation n° 96 – 141/APF dated from 11/21/1996 and decree n° 285/CM
dated from 03/17/1997):
·
Real estate
·
Fishing, aquaculture,
mother-of-pearl and pearl farming activities
·
Audio-visual production and
telecommunications
Any other investment is subject to a declaration
obligation to be made within 3 months after it is implemented. Foreign shares in
joint-ventures are exempted from declaration, provided they do not exceed 20% of
the capital of listed companies at the Stock Exchange or 33.3% of the capital of
unlisted companies at the Stock exchange.
Applications and
declarations are to be addressed to the President of French Polynesia and
forwarded to TAHITI INVEST, the investment promotion board of French
Polynesia.
Access to land
is subject to a preliminary authorization procedure. The application for
authorization is directly sent by the investor or his representative to the
President of the Government of French Polynesia. The Council of Ministers has a
period of 60 days from the reception of the file to deliver a decision.
Work permits for foreigners:
-
Workers: the employer must
comply with a specific authorization procedure managed by the local Agency for
Employment (Service de l'Emploi, de la Formation et de l'Insertion
Professionnelles – SEFI). The application for residence permit must be
processed at the same time (see conditions below). Once it is obtained, the
SEFI transmits the demand for work permit to the Ministry of Labour, then to
the President of the Government, who finally decides upon the delivery of the
permit. Processing time: 1 to 2 months. -
Entrepreneurs: A professional
card for foreigners is to be delivered by the Administrative Affairs Bureau
(Service des Affaires Administratives) after securing approbation from the
other relevant bureaus. Validity: vary according to the profession. Processing
time: 2 to 4 months.
In general, any foreign individual undertaking a professional activity in the
country must hold a residence permit, a work permit or a professional
card.
Residence conditions applicable to foreigners:
Residence permits are granted by the High Commissioner of
the French State in French Polynesia upon approbation from the relevant
committees: Comité Consultatif des Etrangers and the Council of Ministers.
-
A temporary permit is granted for a 6 months to 1
year period and may be renewed. Applications must be sent to the French
consular authorities. -
The regular 5-year residence permit is delivered to
foreigners benefiting from the temporary residence permit, after living in the
territory for at least 5 years. -
The permanent residence permit is delivered to foreigners
allowed to reside in French Polynesia for an unspecified period.
Transfer of capital and
profits repatriation are free, under the prevailing liberal framework (French
commercial law).
French Polynesia has its own
taxation system which can be very advantageous for individuals: there is no
personal income tax, no tax on inheritance and no capital tax.
Corporate tax vary from 35% to 45%. The tax system is
based on the Tax Code whose application and yield are considered well suited to
French Polynesia’s size and characteristics.
The tax rate is adjusted
according to the following ratio:
I +
P
C =
-----------
R
I
=
represents the net value of the assets fiscally redeemable by nature and
installed on the territory, which are entered in the balance sheet or exploited
in pursuance of a leasing contract or of a renting contract of less than five
years;
P = stands for the
fiscally deductible personnel expenses which are engaged in the hiring of
wage-earners in the territory, with the exception of the personnel charges
related to the “de jure or de facto” company managers, whether
these executives are partners, shareholders or not;
R = represents the
taxable profit as determined in the provisions of articles 113-1 and 113-2 of
the Tax Code.
The tax rate is therefore rendered
as follows:
35 % when C >
5.5
36 % when 5 < C < 5.5
37 % when 4.5 < C < 5
38 % when 4 < C <
4.5
39 % when 3.5 < C < 4
40 % when 3 < C <
3.5
41 % when 2.5 < C < 3
42 % when 2 < C <
2.5
43 % when 1.5 < C <
2
44 % when 1 < C < 1.5
45 % when C <
1
Besides
customs duties are levied on goods from E.U countries.
French
and European-standard legal framework ensures adequate
protection.
Particularly attractive investment incentives
schemes allow for substantial tax credit:
-
The “Loi Girardin” state scheme allocates tax credit to companies registered
in France and
making an investment in French Polynesia.
For example, new equipment or facilities are financed that way at reduced
costs by “French” investors, who are granted tax exemptions in return for
their investments. The material is first leased for a 5 year period, after
which the local beneficiary attains full ownership.
-
The “Loi Flosse” local scheme allows tax credit from 30% up to 60% in some
priority sectors like : construction of homes for elderly people, residential
buildings and/or office buildings, construction or renovation of
hotels, construction of parking lots, construction of cruise ships,
construction of golf courses, construction of private clinics, the
mining industry, agri-food industry, aquaculture and fish-farming,
construction of fishing vessels.
Both schemes can be combined simultaneously under certain conditions.
Other incentives are also available under certain conditions.
|
CCISM – The Chamber of Commerce, Industry, Services
and Trade of French
Polynesia
(Chambre de Commerce, d’Industrie, des Services, et des
Métiers de Polynésie
française)
PO Box
118–
98713 Papeete
TAHITI.
French
Polynesia
|
Phone: (+689) 47 27 00
Fax :
(+689) 54 07 01
Website :
www.ccism.pf
Email: cci@mail.pf
TAHITI
INVEST – Investment Promotion Authority of French
Polynesia
(Délégation pour la Promotion des
Investissements en Polynésie
française)
82, Général de Gaulle
Street
PO Box
504
-
98713 Papeete TAHITI
French Polynesia
Phone: (+689) 54 32
54
Fax:(+689) 54 32 55
Website:www.tahiti-invest.com
Email:invest@tahiti-invest.com
SDIM - The Bureau of Industry and
Trade Development
(Service du Développement de l’Industrie et
des Métiers)
PO Box 9055 – 98715
Papeete TAHITI
French
Polynesia
Phone: (+689) 50 28 80
Fax : (+689) 41 26 45
Website:www.creation-entreprises.pf
Email: sdim@industrie.gov.pf
Customs Regional Office
(Direction Régionale des
Douanes)
PO Box 9006 Motu Uta– 98715
Papeete TAHITI
French
Polynesia
Phone: (+689) 50 55 50
Fax: (+689) 43 55
45
E-mail: secretariat@douane.pf
Foreign Trade Service of
French
Polynesia
(Service du Commerce Extérieur de la
Polynésie française)
PO Box 20727 – 98713 Papeete TAHITI
French
Polynesia
Phone: (+689) 50 64
64
Fax: (+689) 43 64
20
Website: www.tahiti-export.pf
E-mail:william.vanizette@economie.gov.pf
| 
中文
日本語
blog
