Investment Projects
Investment Projects
The reasons to invest in the economy of the Republic of Fiji
1
Fiji is located in the South Pacific region. The development of shipping, air communications, and information technology support have allowed the state to become the center of trade in the region.
2
Fiji's main seaports serving the world's largest liners are located in Suva and Lautoka. Direct mutual communication between Fiji and the countries of Asia, Australia, New Zealand, the Pacific Islands, the Americas is carried out by Fiji Airlines, which fly to Australia, New Zealand, USA, Singapore, Hong Kong, Tuvalu, Hawaii, Christmas Islands, Kiribati, Tonga, Samoa and Vanuatu.
3
Fiji has a flat tax rate of 20% but if the company is listed on the South Pacific Stock Exchange, the tax rate is reduced to 10%. There are also tax incentives, duty-free zones, low rates of import duties, which also contribute to the development of business in the country.
4
An attractive feature for doing business in Fiji is that the working population is young, active and well educated. 46% of the population is under 25 years old, of which 90% are educated.
Investments in the economy of the Republic of Fiji
The Foreign Investment Act (FIA) 1999 and the Foreign Investment (Amendment) Act 2004 set out the basic principles under which a foreign investor may invest in Fiji.
Prior to organizing a business, a foreign investor must apply for and obtain permission from the following agencies:
- Reservation of Business name from Registrar of Companies.
- Investment Fiji for Foreign Investment Registration (FIRC)
- Department of Immigration for work permits
- Registrar of Companies Office for the registration of the business
- Fiji Revenue & Customs Authority for the registration of Tax and Vat
- Reserve Bank of Fiji for the issue of capital
- Local town/city councils for business license to operate in the respective area
- Fiji National Provident Fund for registration of the workers.
For detailed information, visit Investment Fiji Website http://www.investmentfiji.org.fj/
Investment Fiji operates independently as the marketing arm of the Fiji Government, providing services and assistance to promote, and stimulate investments. Investment Fiji provides in depth market intelligence, identifies potential investment projects and assists investors from the preparing documents to launch the working collaboration.
The second branch of the Investment Fiji provides post-establishment after-care facilitation services enabling and assisting both foreign and local investors in establishing their business and providing information.
The purpose of the third branch is to increase exports in general, but particularly of entities, whose products and services add value, allow for import substitution and contribute to employment.
The second branch of the Investment Fiji provides post-establishment after-care facilitation services enabling and assisting both foreign and local investors in establishing their business and providing information.
The purpose of the third branch is to increase exports in general, but particularly of entities, whose products and services add value, allow for import substitution and contribute to employment.
Main sectors
Agriculture:
8.3% of GDP is income from agriculture;
28% of the land is available for the agricultural sector;
exported to 47 countries, valued at FJD234 million in 2019;
over 71 thousand households are employed in this sector.
28% of the land is available for the agricultural sector;
exported to 47 countries, valued at FJD234 million in 2019;
over 71 thousand households are employed in this sector.
Industry of audio-visual content:
the nature of Fiji is a natural decoration for creating video content;
in 2019, the industry contributed FJD 138 million to the Fiji economy;
107 video campaigns were run in 2019;
population - multilingual (English, Fijian, Hindi) - main languages;
in Fiji, a wide range of companies providing equipment for aerial photography.
in 2019, the industry contributed FJD 138 million to the Fiji economy;
107 video campaigns were run in 2019;
population - multilingual (English, Fijian, Hindi) - main languages;
in Fiji, a wide range of companies providing equipment for aerial photography.
Energy sector:
100% transition to renewable energy production is planned by 2036;
there are about 15 energy producers in the country;
distribution of the electric power network - 98% of the urban population, 80% of the rural population.
there are about 15 energy producers in the country;
distribution of the electric power network - 98% of the urban population, 80% of the rural population.
Fishing industry:
the sector receives 1.8% of GDP, 7% of total export earnings;
over 9 thousand people are involved in this sector:
the fishing industry is subdivided into: fishing in open waters; coastal fisheries and fisheries;
on average, the volume is 50 thousand tons of fish per year. About 30 thousand tons - export.
over 9 thousand people are involved in this sector:
the fishing industry is subdivided into: fishing in open waters; coastal fisheries and fisheries;
on average, the volume is 50 thousand tons of fish per year. About 30 thousand tons - export.
Forestry:
this sector accounts for 3.2% of GDP;
1.1 million hectares are forests, representing 56% of the total area of the country;
FJD 66 million entered the country's economy in 2020 from this sector.
1.1 million hectares are forests, representing 56% of the total area of the country;
FJD 66 million entered the country's economy in 2020 from this sector.
Medicine and pharmaceuticals:
over 200 medical institutions;
7500 employees in this sector;
One pharmaceutical company in Fiji;
FJD67 million directed to the production of pharmaceutical products.
7500 employees in this sector;
One pharmaceutical company in Fiji;
FJD67 million directed to the production of pharmaceutical products.
Information technology sector:
The sector accounts for 10% of GDP;
95% of the population use mobile communications using 3G, 4G, 4G+ technologies.
95% of the population use mobile communications using 3G, 4G, 4G+ technologies.
Light industry:
11.7% of GDP in 2020;
Export duties amounted to 4-5% of all exports;
The government provides support in gaining access to the sales market, promoting goods.
Export duties amounted to 4-5% of all exports;
The government provides support in gaining access to the sales market, promoting goods.
Mining industry:
FJD134 million made up gold exports in 2020;
At the moment, the resource is 4.1 million ounces;
320,484.12 ha are involved in this sector.
At the moment, the resource is 4.1 million ounces;
320,484.12 ha are involved in this sector.
Tourism:
Recognized as one of the safest places for tourists;
In 2018, Fiji was ranked 24th in the "Best Tourist Destination" by the New York Times;
26.3% of the population is involved in tourism;
Over 890 thousand tourists visited the country in 2019.
In 2018, Fiji was ranked 24th in the "Best Tourist Destination" by the New York Times;
26.3% of the population is involved in tourism;
Over 890 thousand tourists visited the country in 2019.
Fiji’s Products and Brands
Microwave ready food
Alcoholic drinks
Fine Fare confectionery
FAQ
What business activities can I undertake?
Foreign investors can undertake most activities except for those listed as Reserved activities of which locals (Fiji citizens) only are permitted to undertake. Activities that are listed as Restricted can be undertaken by foreign investors provided the conditions specified for each activity is satisfied. All other activities that are neither listed as Reserved nor Restricted, are classified as Unspecified Activities. And these have no special conditions attached hence, foreign investors may undertake these activities provided FIRC approval is granted by Investment Fiji.
Do I need an agent to help me set up my business?
It is not mandatory for foreign investors to engage agents to set up a business in Fiji. In the case the investors are not present in the country and need a representative to make lodgements and submissions on their behalf, foreign investors can engage agents to make the necessary submissions and lodgements. For a list of agents in Fiji, email info@investmentfiji.org.fj or contact (679) 3315988.
What form of business (entity) can I operate in Fiji?
Investors can operate their business through the following types of entities:
a) Sole Trader (1 owner - individual)
b) Partnership (2 or more partners)
c) Limited Liability Company (1 – 49 shareholders)
d) Branch operation (parent company is sole shareholder)
e) Subsidiaries (more than 50% owned and controlled by another company or parent company).
a) Sole Trader (1 owner - individual)
b) Partnership (2 or more partners)
c) Limited Liability Company (1 – 49 shareholders)
d) Branch operation (parent company is sole shareholder)
e) Subsidiaries (more than 50% owned and controlled by another company or parent company).
Do I need a local partner to operate any business in Fiji?
No. Only those wishing to invest in the Fisheries sector (Commercial fishing) require at least 30% of equity to be held by locals and the foreign investor must have at least FJD $500,000.00 in owner’s contribution or paid-up capital. The foreign investor can operate any other business activity listed under Restricted Activities by meeting the minimum capital requirement. However, activities under Reserved activities are prescribed for Fiji Citizens only.
How much should I invest to obtain an approval?
Activities that are classified as Restricted have specified minimum investment levels. (For more information, please refer to the list of Restricted Activities in the Activities that are neither categorized as Restricted nor Reserved, are Unspecified activities, hence there are no minimum requirements on investment levels. However, during the application process the foreign investor will be required to state the proposed investment level for the project.
Where can I set up my business?
You can be set up in any town of your preference. However, it is important to note that there are two main shipping ports - in Suva and Lautoka, which are also the two major cities in Fiji. Fiji’s International airport is located in Nadi. Foreign investors should locate their business in appropriate land classification to suit their business operation.
Do I have to bring into the country the specified level of investment money straight away?
If the paid-up equity is below FJD $2.5 million, then it must be transferred to the company’s Fiji dollar bank account within 12 months from the time that Investment Fiji issues a Foreign Investment Registration Certificate (FIRC). However, if the paid-up equity is FJD $2.5 million or more, then it must be transferred within 18 months to the company’s Fiji dollar account.
Useful Links
191167, Russia, Saint Petersburg. Sinopskaya embankment, house 30-B, office 2
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Contacts
+7 (812) 425 18 20
+7 (981) 930 09 26
Еmail: hc@fiji.spb.ru
+7 (981) 930 09 26
Еmail: hc@fiji.spb.ru
© FIJI.SPB.RU
The office of the Honorary Consul of the Republic of Fiji in Saint Petersburg
The Embassy of the Republic of Fiji in Japan
NOA Building 14F, 2-3-5 Azabudai, Minato-ku, Tokyo 106-0041, JAPAN.
Tel.: 81 3-3587-2038
info@fijiembassy.jp
https://fijiembassy.jp/
NOA Building 14F, 2-3-5 Azabudai, Minato-ku, Tokyo 106-0041, JAPAN.
Tel.: 81 3-3587-2038
info@fijiembassy.jp
https://fijiembassy.jp/
The Embassy of the Republic of Fiji in Japan