Fiji is one of the most developed economies of the Pacific islands. However, the economy is vulnerable to natural disasters that weigh on growth. Cyclone Winston, the most powerful in the history of the archipelago, hit the country in February 2016, causing significant damage to housing, infrastructure, and crops, which are still being under reconstruction. Nevertheless, the country is recovering well after the cyclone and is expected to continue to grow in the coming years. The economy has been particularly dynamic in recent years, with a growth of 2.7% in 2019 and outlook of 3.0% and 3.2% for 2020 and 2021 respectively, mainly thanks to the reconstruction activities, the tourism sector, the recovery of agriculture production and an increase in household consumption expenditure, though the country’s economic performance will depend on maintaining financial stability, rebuilding fiscal policy buffers, and boosting private sector development.
Starting A Business
As an investor or business owner, you will be required to register a legal entity in Fiji before you commence your business. Below is a step-by-step guide to take you through that process.
Register your Business Name
You are now ready to register your business with the Registrar of Companies. You will need to prepare your ownership details and determine the area of business that you will primarily be engaged in.
Register for Tax Identification Number (TIN)
Proceed to the Fiji Revenue and Customs Services (FRCS) to register for a Tax Identification Number (TIN). FRCS is the agency responsible for collecting tax and duties on behalf of the government. FRCS also facilitates trade and travel activities across Fijian borders.
Obtain National Fire Authority Certificate
The National Fire Authority is responsible of assessing businesses to ensure that premises are properly equipped with fire safety devices.
Compliance to Occupational Health and Safety
The National Occupational Health and Safety Services (OHS) ensures that business comply with the Health and Safety at Work Act 1996. All businesses are required to apply for this license with the Ministry of Employment.
Register as an Employer
In compliance with sections 34 and 35 of the Fiji National Provident Fund (FNPF) Act 2011, all businesses must register as an employer with FNPF. As a registered business owner, you must register all employees hired to conduct your business operations.
Register for Fiji National University Levy
For foreign companies, the Foreign Investment Registration Certificate is required, on top of the requirements above.
Foreign Investment Registration Certificate
If you are not a Fijian citizen or your business is based outside Fiji, you will need to obtain a Foreign Investment Registration Certificate from Investment Fiji. They act as the liaison between the Fijian Government agencies and businesses at the regional and international levels.
How we can help you
If you are considering forming a business or you need expert help with company registration in Fiji, LegalGenius™ is ready to assist you with its skilled team of lawyers, consultants and tax experts. We are committed to making the process as stress-free and streamlined as possible for you, and we will take care of all your document preparation and administrative tasks regarding the registration forms, payment of government fees, local address registration, banking support, etc., whilst always keeping your exact objectives and unique vision in mind throughout the process.
Please use our Company Formation Wizard if you would like to set up your registered company in Fiji or if you would like to know the costs involved prior to proceeding with our exceptional services. For other queries and special requests for complex or customised company formation services, please contact us at email@example.com