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Territorial Investment Code: Boosting Local Businesses in Wallis and Futuna

The government of Wallis and Futuna has launched the Territorial Investment Code (CTI) to promote the development of local businesses. The scheme offers a range of incentives, including funding support, tax relief, and social security benefits.

Funding Support

Under the CTI, entrepreneurs can receive up to 40% funding for their investment costs, with a maximum aid of 4 million XPF (approximately €30,000). This funding can be used to cover various expenses, such as:

  • Equipment purchases
  • Construction or renovations

Tax Relief

The scheme also offers tax relief for businesses that invest in materials and equipment. Under the French Overseas Programme Law, taxpaying residents of France can reduce their taxes by up to 35.87% of their total investment.

Social Security Benefits

In addition, the CTI provides social security benefits for employers and employees. Employers are exempt from paying social security contributions for two years, while employees are entitled to a full refund of their employer contributions over the same period.

Other Incentives

The scheme also offers other incentives, including:

  • Freight cost aid: up to 50% reimbursement of extra costs linked to the air or sea transport of raw materials and intermediate products.
  • Liquidity help: covering 30% of interest costs on project-related loans.
  • Specific pension plan: local employees are not subject to payment of social security contributions applicable in France and other Overseas Collectivities.

Wallis and Futuna: A Unique Business Environment

Wallis and Futuna offers a unique business environment, with:

  • A rich cultural and natural heritage
  • A tropical climate
  • A welcoming population

The territory has an administered economy, with a GDP of €150 million (approximately) per year.

Priority Sectors

The Territorial Assembly has identified several priority sectors for the territory’s economic development up to 2030, including:

  • Developing the resource sector
  • Boosting local business growth
  • Leveraging the territory’s digital environment
  • Expanding tourism
  • Promoting marine policy and safeguarding biodiversity

Get Support from the CCIMA

The Wallis and Futuna Chamber of Commerce, Industry, Trades and Agriculture (CCIMA) is the representative body for the territory’s various sectors of activity. The CCIMA provides:

  • Support and advice to entrepreneurs
  • Help with business registration
  • Training and guidance

For more information on the Territorial Investment Code and how it can benefit your business, please contact the CCIMA at [email address] or visit their website at [website URL].