Investing in Fiji

G Prasad & Associates specialize in assisting new investors in Fiji to set up their businesses in the most effective way and to ensure that they meet the terms of all the necessary statutory and regulatory approvals. In this way investors can establish their businesses with confidence and, most significantly avoid unnecessary pitfalls and hurdles later down the track. We have excellent working relationship with all the banks in Fiji as well as a number of prominent law firms.

The following are some of the requirements to establish a business in Fiji, which we can handle on behalf of clients:

Investment Fiji (Formerly known as FTIB)

In order for any foreign investor to set up and operate a business in Fiji, it is essential to first obtain Investment Fiji approval. To obtain Investment Fiji approval, it is important that we know the exact nature of business that the foreign investor intends to carry out in Fiji. There are three types of business activities: Open, Reserved and Restricted.

Open activity can be carried out by any individual irrespective of their country of citizenship. It is also known as Unspecified Restricted activity.

Reserved activity is prescribed to Fiji citizens only. In other words, these activities are not allowed to be carried out by foreign investors.

Restricted activity has conditions which must be met by foreign investors who wish to pursue them. These conditions differ depending on the nature of the business activity.

GENERAL

This covers the majority of approvals an investor will need to be permitted to operate in Fiji.
As for other accounting services, we also provide monthly or periodic accounting services such as preparation of VAT, PAYE, FNPF, STT, ELT & HTT returns as well as monthly accounts. We also act as business advisers and tax agents for our clients as well.

WORK PERMITS

We have to complete the application form for Key Post (Investor) work permit which requires a lot of information, reports and checks.

COMPANY FORMATION

We incorporate a new company lodge it with the Registrar of Companies. Once a new company is incorporated, Registrar of Companies will only provide us with an original Certificate of Incorporation once they have been provided with the Tax Registration Certificate of the company.

VAT AND TAX REGISTRATION

VAT and Tax registration is controlled by the Fiji Island Revenue & Customs Authority (FRCA). Significant amount of information needs to be supplied to FRCA to register.

FRCA will not register the company for tax until and unless we register the directors of the company for tax.

RESERVE BANK

Reserve Bank approval is very important; however, this can be obtained after the above procedures are completed. A variety of forms are required to obtain relevant Reserve Bank approvals.

OPENING A BANK ACCOUNT

This can only be done after tax registration. Banks require full legal documentation as and will conduct a company search at the Registrar of Companies before they open up the company account.

FIJI NATIONAL PROVIDENT FUND (FNPF) REGISTRATION

The application for employer and employee registration with FNPF can be completed together with TPAF registration by completing the required application forms and by supplying relevant company legal documentation.

BUSINESS LICENCE

This will be obtained from the respective Town/City Council and it will require approvals from the following authorities; National Fire Authority, Occupational Health & Safety Department, Health Department and District Office