Government Support

GOVERNMENT SUPPORT

...The best government support and economic benefits

Incentives and Economic Benefits

The government of Fiji is committed to expansion and development of its tourism industry. To accelerate this expansion, significant incentives are provided to support tourism related investments, and include -

- Hotels aid investment allowance, whereby in addition to normal depreciation 55% of approved capital expenditure, excluding cost of land, may be set-off against the hotel owner's taxable income.

Taxation in Fiji

The rate of Fiji income tax on the chargeable income of a resident company is 35%.

Foreign Ownership

There is no foreign investment review board in Fiji. There are no express restrictions on levels of foreign ownership of property or companies in Fiji and accordingly, specific governmental approval is not required for a foreigner. Such transactions are subject to the approval of the Reserve Bank of Fiji.

5 Star Hotel Development Incentive (The Fiji Trade and Investment Board have announced the following incentives)

100% Write-off on all capital expenditure in any one year during a period of eight (8) years or spread over a series of years within the same period.
Losses can be carried forward to six (6) years.
Duty-Free entry of all capital equipment, machinery and plant.
No corporate tax on profits for twenty (20) years.
Tourist Plants will be allowed to generate their own power supplies and sell their excesses to the Fiji Electricity Authority.

Why Invest in Fiji?

Fiji offers many opportunities for the investor. Tax holidays, freedom to repatriate capital and profits, import duty waivers and concessions, export incentives, export promotions incentives and assistance under the Hotels, Aid Act are some of these. To make these opportunities readily available, the Fiji Trade and Investment Board (FTIB) extends its "One-Stop-Shop" service to assist and expedite your investment proposal. Investors can also receive preferential access to Australia and New Zealand markets under SPARTECA, to Europe under the LOME Agreement and to the United States, Canada and Japanese markets under the GSP Agreement.

Other advantages include:

An adaptable, productive, industrially disciplined and English speaking labour force with competitive wage rates.
Sophisticated telecommunication links with the rest of the world.
A well developed infrastructure, including electricity, water supplies and internal communications.
Well developed banking and financing institutions providing full ongoing financial services.
A government which welcomes and supports foreign investment, within its overall objectives of accelerating tourist development.

An illustrious list of local and foreign companies, large and small have already invested and are successfully operating in Fiji. And at the end of the day you can reward yourself with the life-style Fiji is famous for, beautiful beaches, friendly people - a tropical paradise.

Business Migration

The Government of Fiji is developing a flexible policy regarding persons wishing to take up residence. The Government allows foreigners to live permanently in Fiji provided that they owned local property valued at $US 37,500 ($60,435 Fijian) or more and had an assured annual income of at least $US 12,500.

(- Employees and their families are generally allowed residency and work permits for an initial period of 3 years, and are extendable.)

For further detailed information please request a copy of "An Investor's Guide to Fiji".

(Official publication by the Fijian Trade and Investment Board)