Economy of Samoa

The Economy of Samoa is basically dependent on the exports of agricultural products and fish. It also depends on development aid and private financing from overseas countries.

Samoa is a country which suffers a lot from storms, those destroy the country repeatedly. The two third of the labour force of Samoa is engaged in the sector of agriculture. This exports of agricultural products accounts for 9% of the total exports from Samoa. The main agricultural products, which are exported from Samoa, are coconut cream, coconut oil and copra.

Samoa has a large automotive wire harness factory. The manufacturing sector in Samoa mainly produces agricultural products.

The industry of tourism is slowly expanding in Samoa. The number of tourists those visited Samoa in the year 1996 was 70,000, which increased to 120,000 in the year 2014.

The government of Samoa has given a call of deregulation of the financial sector in Samoa. It is being to done to encourage the flow of investments in Samoa. The government of Samoa is imposing a very strict fiscal discipline in the country.

The economic advances in Samoa in future will greatly depend on the flexibility of labour market in the country, as it is one of the most basic economic strength factors.

Samoa has New Zealand as its main trading partner country. New Zealand provides about 35% to 40% of imports to Samoa and purchases about 45% to 50% of exports from Samoa. Trading partners to Samoa are also imported by Australia, Fiji, the United States of America and American Samoa.

The main imports of Samoa include food and beverages, industrial supplies and fuels. The primary economic sectors in Samoa, such as agriculture, fishing and forestry provides employment to about two third of the labour force in Samoa. This economic sector produces about 17% of the national GDP.

Why form an offshore company in Samoa?

The Independent State of Samoa is a member of the Commonwealth of Nations and is fast growing for businessman those who are not in the sector related to banking, funding or any kind of trust. Plus they have no tax treaties with any country. Companies registered as offshore are not liable to pay any tax.

Form an Offshore Company in Samoa

Benefits of Forming an Offshore Company in Samoa

  1. 0% tax on income, capital gains, stamp duty and exchange controls
  2. Availability of Off The Shelf companies
  3. No tax on interest receive from banks
  4. Change in domicile is permitted
  5. Form a company within 48 hours
  6. No double treaty taxation