Solomon Islands
Key entity, tax, banking, visa, and compliance guidance for foreign founders incorporating in Solomon Islands.
Foreign Ownership Eligibility
Solomon Islands welcomes 100% foreign-owned companies
Fully remote formation — you never need to set foot in the country.
- 100% foreign ownership permitted in most sectors
- Legal system: Common Law (English tradition)
- Primary registration authority: Investment Corporation of the Solomon Islands (ICA)
- Registry website: https://www.ica.gov.sb
- Tax authority: Inland Revenue Division
- Corporate income tax (CIT): 30% - Source: CIT: 30% (Solomon Islands). VAT: 9%.
- VAT / sales tax: 9%
- Estimated formation timeline: 14-30 days - Via ICA. Source: ICA Solomon Islands
- Annual compliance and renewal obligations apply
Ownership
100% Foreign OK
Formation
100% Remote
Tax at a glance
Solomon Islands Tax Overview
30%
Corporate Income Tax (CIT)
CIT: 30% (Solomon Islands). VAT: 9%.
9%
VAT / Sales Tax
CIT: 30% (Solomon Islands). VAT: 9%.
Inland Revenue Division
Tax Authority
https://www.ird.gov.sb
Pros & cons
Advantages & Considerations
Key Advantages
100% foreign ownership permitted in most sectors
Legal framework: Common Law (English tradition)
Primary registry: Investment Corporation of the Solomon Islands (ICA)
Tax rate: 30% CIT
Incorporated company has access to Solomon Islands market
Considerations
Local professional guidance recommended for regulatory compliance
Banking KYC requirements can be extensive - allow time for account opening
Professional services market may be limited compared to major financial centres
Verify sector-specific restrictions before investing
Currency risk: SBD fluctuations may affect USD-denominated investments
Incorporation Process
The process is strictly digital. Each stage builds on the previous one.
Name reservation
Prepare incorporation documents
Submit registration application
Tax registration
Open corporate bank account
What you'll pay
Cost Architecture
Government Fees
Annual Ongoing
Professional Services
Government fees change frequently. Always verify current fee schedule at https://www.ica.gov.sb before committing.
Still unsure about costs?
These are estimates — your actual cost depends on your structure
Every Solomon Islands setup is different. A 15-minute call with one of our specialists will give you a personalised cost breakdown — completely free.
Fintech & Banking
Can non-residents open accounts without visiting? NO.
Banking options for non-resident founders in Solomon Islands. Remote account opening availability varies by institution.
| Institution | Type | Ease for Non-Residents | Notes |
|---|---|---|---|
| BSP Solomon Islands | Traditional bank | Low (Visit Required) | |
| ANZ Solomon Islands | Traditional bank | Low (Visit Required) | |
| Pan Oceanic Bank | Traditional bank | Low (Visit Required) |
Regulatory requirements
Annual Compliance Matrix
| Requirement | Deadline | Details |
|---|---|---|
Annual company filing | Ongoing | File annual returns with Investment Corporation of the Solomon Islands (ICA) to maintain good standing. |
Corporate income tax return | Ongoing | Submit annual CIT return to Inland Revenue Division. Rate: 30%. |
VAT filing | Ongoing | VAT-registered businesses file periodically. Rate: 9%. Verify threshold with Inland Revenue Division. |
Accounting records | Ongoing | Maintain statutory books per Common Law (English tradition) requirements. |
Beneficial ownership disclosure | Ongoing | Verify current UBO requirements in Solomon Islands. |
Frequently Asked
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