The process of doing business in Fiji, especially for a foreign investor, involves several key steps related to investment, business registration, tax compliance, and immigration permits.
Here is a guide on how to approach doing business in Fiji:
1. 💼 Foreign Investment and Business Registration
Fiji welcomes foreign investment and has a streamlined digital platform called businessNOW FIJI (accessible via the Digital Fiji portal) to help with the registration process.
Key Steps for Foreign Investors:
- Investment Registration (No Longer Mandatory FIRC):
- Under the Investment Act 2021, foreign investors are no longer required to obtain a Foreign Investment Registration Certificate (FIRC) from Investment Fiji.
- However, you must still register your business in accordance with the Companies Act 2015, and report and update your investment information to the government’s investment promotion and facilitation agency, Investment Fiji.
- Minimum Investment Thresholds: There is a minimum capital threshold of approximately FJD $300,000 for foreign investment into any non-restricted sector. Higher thresholds apply to specific restricted activities (e.g., retail, logging, and certain tourism ventures).
- Get an e-Profile: Foreign citizens must first obtain an e-Profile on the Digital Fiji portal. Verification usually requires a face-to-face meeting at a Registrar of Companies (ROC) or Births Deaths and Marriages (BDM) office. Foreign investors often use a local agent to act on their behalf for verification.
- Choose and Register Your Entity:
- Decide on the legal structure (e.g., Sole Proprietorship, Local Company, or Registering a Foreign Company Branch).
- Reserve/Register the Name: Check the uniqueness of your proposed business name and register it with the Registrar of Companies (ROC). The name reservation lasts for 30 days.
- Lodge Documents: Submit the required incorporation documents and fees to the ROC, usually via the Digital Fiji portal. A private company requires a minimum of one director who is an ordinary resident of Fiji. A public company requires at least three directors, with two being ordinary residents, plus a resident secretary.
- Tax and Employer Registration:
- Tax Identification Number (TIN): Register with the Fiji Revenue and Customs Service (FRCS) through their Taxpayer Online Service (TPOS) portal to obtain a TIN.
- VAT Registration: If your projected annual turnover exceeds FJD $100,000, you must register for Value Added Tax (VAT).
- Employer Registration: Register as an employer with the Fiji National Provident Fund (FNPF) and for Training Levy with the Fiji National University (FNU) if you plan to hire staff (even if you are a sole proprietor paying yourself).
- Obtain Necessary Compliances:
- Depending on your business type, you will need mandatory compliance certificates, which can often be applied for through the businessNOW e-Services portal.
- Common mandatory compliances include the Structural Fire Safety Certificate (from the National Fire Authority) and the General Workplace Inspection Certificate (from the National Occupational Health and Safety Services).
- Food-related businesses require a Health Licence from the Ministry of Health.
2. 🛂 Immigration and Work Permits
If you plan to live and manage the business in Fiji, you will need the correct permits.
- Business Visitors Permit (Short-Term): Allows foreign nationals to undertake business, investment, study, or consultancy activities for up to 21 days on arrival (for visa-exempt countries) or with prior approval (for non-exempt countries). Working beyond 21 days requires a Short-Term Work permit.
- Investor Permit: This is the correct permit for foreign investors who intend to invest and operate their businesses in Fiji long-term. You must apply for the Investor Permit that matches your purpose and length of stay.
3. 💸 Investment Environment and Incentives
Fiji actively promotes foreign investment and offers various incentives:
- Tax Incentives: The government offers tax concessions and duty exemptions on imports, particularly in priority sectors like energy, audio & visual production, aged care, health, tourism, manufacturing, and ICT/BPO.
- The standard Corporate Tax Rate is 25%.
- Reduced corporate tax rates (e.g., 20%) are available for foreign companies that relocate their headquarters to Fiji.
- Legal Protection: The Investment Act 2021 provides strong legal protection for investors, including freedom from compulsory or arbitrary acquisition of property and the principle of national treatment (being treated no less favorably than domestic investors in like circumstances).
- Key Sectors: The government encourages investment in areas that contribute to economic growth, employment generation, and sustainable development.
Next Steps
Since foreign investment often involves specific regulatory requirements and capital thresholds, a good starting point would be to connect with the government’s investment arm.