SAMOA: CREDITOR CONTROLLED INTERNATIONAL COMPANY
by Laura Fepuleai

2008-04

At this point in time, we would like to offer a few pointers on the registration of a CCIC, i.e. a Creditor Controlled International Company, in Samoa. The benefits are similar to that of a Company limited by guarantee, or rather, it is registered without share capital and can operate without shareholders and all the usual rights normally exercised by the shareholders accrue to the holder of the bearer debenture.

Other advantages include:
• CCICs pay no taxes in Samoa
• A minimum of one director is required and corporate directors are permitted. Director details are kept confidential and will not appear on public files
• A brief annual return must be filed but no accounts need filing
• Incorporation is a 24-hour process and forwarded to the client immediately
• There are restrictions to the use of certain names or abbreviations, but we can provide immediate name checks before the incorporation process
• GCSL Samoa will maintain the registered office address and resident secretary as required under the legislation.

This Samoan creature may be of interest to professionals seeking unique solutions for their clients