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Financial Regulatory Bodies Worldwide in Samoa

Samoa’s financial regulatory bodies play a crucial role in ensuring the stability and growth of its international finance centre. With a parliamentary democracy and a unicameral system, Samoa’s government is committed to providing a favorable environment for foreign investors.

The Samoa International Finance Authority (SIFA)

The SIFA is the primary regulator of the country’s international finance centre. Established in 2005, SIFA provides a range of financial services, including wealth management solutions, to prospective and current investors. The authority is governed by its principal Act, the Samoa International Finance Authority Act 2005, and abides by government policies and guidelines.

Samoa has a well-established legal system, with laws based on English and Commonwealth statutory and common law. The country’s courts are aware of the jurisprudence surrounding offshore matters and take a holistic and conservative approach to interpretation under international financial services laws.

Economic Foundation

The country has a strong economic foundation, with a diversified economy driven by industries such as:

  • Commerce
  • Transport and communication
  • Construction
  • Business and finance services

Samoa’s exchange rate is measured against a basket of currencies from its six major trading partners, ensuring the country maintains its competitiveness in global markets.

Infrastructure

Samoa’s infrastructure is well-developed, with modern international airport and wireless 3G broadband connectivity. The country has undergone reconstruction work for public roads, Apia harbour, and Marina Bay to cater for international events such as:

  • Small Island Development States Forum
  • CHOGM meeting in October 2024

Tax Exemptions and Confidentiality

Entities registered under SIFA’s laws are exempt from taxation on their profits or gains, and there are no currency or exchange control regulations for taking or sending foreign currency out of Samoa. Confidentiality of information is exclusively provided for under SIFA’s laws, with gateway provisions to balance confidentiality against potential misuse or abuse of financial solutions.

International Membership

Samoa’s membership in international organizations such as:

  • British Commonwealth
  • United Nations
  • International Monetary Fund
  • Asian Development Bank

demonstrates its commitment to global economic cooperation and stability. The country’s political stability, economic growth, and well-established legal and regulatory framework make it an attractive destination for foreign investors seeking to establish a presence in the Pacific region.