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What exactly is the role of the Foreign Investment Division?

We are the de facto investment promotion agency of the
Solomon Islands. Our responsibilities include promoting
and facilitating foreign investment. As required under the
Foreing Investment (Amendment & Validation) Act 2009 and Regulation 2006. We also have an aftercare role to assist foreign investors comply with their terms of registration.

What kind of recent reforms should potential investors be aware of?

Solomon Islands have passed ammendments to laws governing companies: Company Act 2009, Insolvency and Receivership Act; and Secured Transactions Act 2009. Further reforms are also planned, including in the area of
taxation and land.

How straightforward is the foreign investment application process?

The Foreing Investment (Amendment & Validation) Act 2009 has reduced the amount of time it takes to process an application. Reducing the processing time and streamlined to improve cooperation from other government agencies. Applicants receive a decision within five working days. It is important for investors to be aware of the Reserved List, Schedule 3 of the Foregin Investment Regulations 2006.

Are tax incentives offered to foreign investors? How can they apply for them?

The government offers Incentives to new investors; and are granted at the discretion of the Minister of
Finance. They include tax holidays and duty exemptions on
the import of certain capital goods. Further information can be obtained from Inland Revenue Division, Ministry of Finance.

Derick The Foreign Investment Division
of the Department of Commerce,
Industries and Employment is
the first port of call for potential
investors in the Solomon Islands.
Its Director Derick Aihari explains
its function

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