Foreign Investors Must Register Investment Activities in Solomon Islands

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The Solomon Islands Government has introduced new regulations requiring foreign investors to register their investment activities in the country. This move aims to ensure that foreign investors comply with local laws and regulations, and do not engage in prohibited or reserved activities.

Registration Requirements

• Foreign investors who hold at least one vote or have at least one voting share in a body corporate conducting an investment activity in Solomon Islands must apply to register their investment activity within three months of any change in its membership or shareholding.
• The application must be made on the prescribed form and accompanied by the prescribed fee.
• The foreign investor must provide detailed information about the investment activity, including:
  • Name and address of the company
  • Business name or intended business name under which it will operate
  • Address of the premises where it intends to conduct its business

Assessment and Approval Process

• Once received, the Registrar will assess the application to determine whether it contains all the required information.
• If the application is incomplete or insufficient, the foreign investor will be requested to provide additional information.
• The Registrar will then consider the application and decide whether to register or refuse to register the investment activity.
• If approved, the investment activity will be registered, and the foreign investor will receive a dated receipt.
• If refused, the foreign investor will be notified of the reasons for the refusal and advised of their right to review the decision under section 27 of the regulations.

Compliance and Penalties

• The new regulations aim to promote transparency and accountability in foreign investment activities in Solomon Islands.
• All foreign investors must comply with local laws and regulations, and any failure to do so may result in penalties or fines.
• Foreign investors who have already established operations in Solomon Islands are advised to review their current status and ensure compliance with the new regulations.

Note: The regulations are aimed at ensuring that all foreign investors operate within the bounds of local laws and regulations, promoting transparency and accountability in investment activities.