The economy of Mwali (Moheli)

The economy of Mohéli, the smallest of the three major islands in the Union of the Comoros, is based on agriculture, fishing, and tourism. The main agricultural products are vanilla, cloves, perfume essences, copra, coconuts, bananas, and cassava. Fishing is also an important economic activity, and the island has a small but growing tourism industry.

The economy of Mohéli is largely informal, and there is a high rate of unemployment. The government is working to improve the economy by promoting tourism, developing small businesses, and improving education and healthcare.

Here are some additional details about the economy of Mohéli:

• The GDP per capita of Mohéli is estimated to be around \$1,200 (PPP).

• The main exports of Mohéli are vanilla, cloves, perfume essences, and fish.

• The main imports of Mohéli are food, fuel, and manufactured goods.

• The currency of Mohéli is the Comorian franc (KMF).

• The main trading partners of Mohéli are France, Madagascar, and the United States.

The economy of Mohéli is facing a number of challenges, including:

• High unemployment

• A lack of infrastructure

• A small and isolated market

• Political instability

Despite these challenges, the government of Mohéli is optimistic about the future of the economy. The island has a number of natural resources and a growing tourism industry, and the government is working to improve the business environment and attract foreign investment.

How does Mwali (Moheli) regulate financial markets?

MISA Mwali (Mwali International Services Authority) is a financial services provider based in Mohéli, one of the three islands that make up the Union of the Comoros. MISA Mwali was established in 1998 and is the largest international business company (IBC) registry in Africa. The company offers a range of services to IBCs, including registration, compliance, and administration.

Mwali International Services Authority – Registrar of Companies

MISA Mwali is regulated by the Government of Mohéli and is a member of the Association of International Business Companies (AIC). The company has a good reputation for providing reliable and efficient services to its clients.

Here are some of the services offered by MISA Mwali:

• IBC registration

• Compliance services

• Administration services

• Taxation servic

• AML/CFT services

• Investor visa services

MISA Mwali also offers a range of other services, such as:

• Company formation

• Trust services

• Fund administration

• Corporate secretarial services

• Accounting and auditing services

• Legal services

• Marketing and promotion services

If you are interested in setting up an IBC in Africa, MISA Mwali is a good option to consider. The company has a good reputation and offers a wide range of services to its clients.

How to register a company in Mwali (Moheli)?

To register a company in Mwali (Moheli) or any other island in the Union of the Comoros, you generally need to follow these steps:

1. Business Name Search: Begin by conducting a business name search to ensure that your desired company name is available and not already registered by another entity. You can perform this search through the Central Business Registration Office or relevant authorities in the Comoros.

2. Prepare Required Documents: Gather the necessary documents for company registration, which may include:

   - Application form for company registration

   - Memorandum and Articles of Association (statutes) of the company

   - Identification documents of the company directors and shareholders

   - Proof of address for the company's registered office

   - Bank reference letters

   - Other supporting documents as required by the registration authority

3. Notarization and Translation: Depending on the jurisdiction, you may need to notarize and translate certain documents into the official language of the Comoros (French). It is advisable to consult with a local legal professional or business service provider for guidance on this matter.

4. Submit the Application: Complete the application form and submit it, along with the required documents, to the relevant registration authority in Mwali (Moheli) or the Comoros. This is typically the Central Business Registration Office or a similar government agency responsible for company registrations.

5. Pay Fees: Pay the applicable registration fees, which vary depending on the type and size of the company you are registering.

6. Obtain Registration Certificate: Once the application and required documents are submitted and the fees are paid, the registration authority will review the application. If everything is in order, you will receive a Certificate of Registration confirming the establishment of your company.

It is essential to note that the specific procedures and requirements for company registration may vary, and it is recommended to seek professional advice or consult the local authorities or a business service provider in Mwali (Moheli) or the Union of the Comoros for accurate and up-to-date information tailored to your specific circumstances.

Taxation in Mwali (Moheli)

The taxation system in Mwali (Moheli) is based on the French tax system. The main taxes in Mwali are:

• Income tax: Individuals and businesses are subject to income tax. The income tax rate for individuals is progressive, ranging from 0% to 35%. The income tax rate for businesses is flat, at 30%.

• Value-added tax (VAT): VAT is a tax on goods and services. The standard VAT rate in Mwali is 18%.

• Customs duties: Customs duties are levied on imports and exports. The rates of customs duties vary depending on the type of goods being imported or exported.

• Stamp duty: Stamp duty is a tax on certain documents, such as contracts and deeds. The rates of stamp duty vary depending on the type of document.

There are a number of tax incentives available in Mwali, such as:

• Tax holidays: Companies that invest in Mwali may be eligible for tax holidays of up to 10 years.

• Exemptions from customs duties: Companies that import goods for use in their Mwali operations may be exempt from customs duties.

• Investment allowances: Companies that invest in Mwali may be eligible for investment allowances, which are deductions from taxable income.

The taxation system in Mwali is relatively simple and straightforward. There are a number of tax incentives available, which can make Mwali a attractive destination for businesses.

Here are some additional details about taxation in Mohéli:

• The income tax year in Mohéli runs from January 1 to December 31.

• Individuals and businesses are required to file income tax returns by March 31 of the following year.

• VAT is collected at the point of sale. Businesses are required to file VAT returns on a monthly basis.

• Customs duties are collected by the customs authorities at the point of entry into Mohéli.

• Stamp duty is collected by the government at the time of the execution of the document.

The taxation authorities in Mohéli are the Ministry of Finance and the Customs and Excise Department. These authorities are responsible for administering the tax laws and collecting taxes.

If you are considering investing in Mohéli, you should consult with a tax advisor to ensure that you are aware of all of the tax implications.