Doing Business with Solomon Islands

A comprehensive guide to doing business, exporting, investing, and manufacturing in Solomon Islands.

Foreign Direct Investment with the International Trade Council / Company Incorporation / Company Formation

Invest Solomon

Tel: +67 7 26 812
Email: registrar@solomonbusinessregistry.gov.sb
Web: solomonbusinessregistry.gov.sb

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General Directorate of Customs

Tel: +677 21561
Email: customs@customs.gov.sb
Website: customs.gov.sb

National Chamber of Commerce

Albanian Chamber of Commerce and Industry

Tel: +677 39542
Email: services@solomonchamber.com.sb
Website: solomonchamber.com.sb

Ministry of Economy Information from the International Trade Council - a Peak-body - international chamber of commerce

Ministry of Finance and Treasury

Tel: +677 22556
Website: mof.gov.sb

  • Type of Government: Parliamentary democracy and constitutional monarchy
  • Population: Approximately 700,000
  • GDP: Around $1.6 billion USD
  • Corporate Tax Rate: 30%
  • Personal Income Tax Rate: Progressive rates up to 40%
  • Major Exports: Timber, fish, palm oil
  • Major Imports: Machinery, manufactured goods, fuels

 

Exporting goods to the Solomon Islands involves several key steps. Here’s a detailed guide:

  1. Research Market Requirements

    • Understand import regulations and product standards specific to the Solomon Islands.
  2. Identify Your Product’s HS Code

    • Determine the Harmonized System (HS) code for tariff and regulation details.
  3. Prepare Documentation

    • Gather necessary export documents: commercial invoice, packing list, certificate of origin, and bill of lading.
  4. Check Tariff and Non-Tariff Barriers

    • Verify any tariffs and ensure compliance with non-tariff measures.
  5. Select a Reliable Freight Forwarder

    • Choose a logistics provider experienced in shipping to the Solomon Islands.
  6. Comply with Labeling and Packaging Regulations

    • Ensure your products meet local labeling and packaging standards.
  7. Arrange for Insurance

    • Secure insurance to cover potential shipping risks.
  8. Submit Customs Declaration

    • Work with your freight forwarder to submit the necessary customs declaration through Solomon Islands Customs.
  9. Track and Confirm Delivery

    • Monitor the shipment to ensure it reaches the destination safely.

Key Contacts

Importing goods into the Solomon Islands involves several key steps. Here’s a detailed guide:

  1. Obtain an Importer’s License

    • Register with the Ministry of Commerce, Industry, Labour and Immigration.
  2. Classify Your Goods

    • Determine the Harmonized System (HS) code for your products to understand tariffs and duties.
  3. Check Import Requirements

    • Verify if your goods need specific licenses or permits from relevant authorities.
  4. Prepare Documentation

    • Gather necessary documents: commercial invoice, bill of lading, packing list, and certificate of origin.
  5. Select a Customs Broker

    • Engage a licensed customs broker to assist with the import process.
  6. Submit Import Declaration

    • File the import declaration electronically through the Solomon Islands Customs system.
  7. Pay Duties and Taxes

    • Calculate and pay any applicable import duties and taxes.
  8. Arrange for Cargo Clearance

    • Coordinate with your freight forwarder or customs broker for the clearance and delivery of goods.

Key Contacts

Incorporating a company in the Solomon Islands involves several key steps. Here’s a detailed guide:

  1. Choose a Business Structure

    • Decide on the type of company, such as a Limited Liability Company (LLC).
  2. Register a Company Name

    • Check the availability of your desired company name and reserve it with the Company Haus.
  3. Prepare Incorporation Documents

    • Draft the company’s Articles of Association and other required documents.
  4. Submit Application to Company Haus

    • File the incorporation documents with Company Haus, either online or in person.
  5. Obtain a Business License

    • Apply for a business license from the Ministry of Commerce, Industry, Labour and Immigration.
  6. Register for Taxation

    • Register for tax purposes with the Inland Revenue Division.
  7. Open a Bank Account

    • Set up a business bank account in the Solomon Islands.

Costs

  • Registration Fee: Approximately SBD 2,000 to 4,000, depending on the company type

Key Contacts

Setting up a manufacturing plant in the Solomon Islands involves several key steps. Here’s a detailed guide:

  1. Conduct a Feasibility Study

    • Assess market demand, location suitability, and resource availability.
  2. Choose a Business Structure

    • Decide on the type of business entity, such as a Limited Liability Company (LLC).
  3. Register the Company

    • Register your business with the Company Haus.
  4. Secure Financing

    • Arrange funding through banks or investors.
  5. Select a Location

    • Choose an industrial area with access to necessary infrastructure and resources.
  6. Obtain Necessary Permits and Licenses

    • Apply for construction and operational permits from relevant authorities.
  7. Design and Construct the Facility

    • Hire architects and contractors to design and build the plant according to regulations.
  8. Purchase and Install Equipment
    • Acquire machinery that meets safety and operational standards.
  9. Hire and Train Employees

    • Recruit skilled workers and provide necessary training.
  10. Set Up Supply Chain and Distribution

    • Establish relationships with suppliers and distributors.

Key Contacts

Registering a trademark in the Solomon Islands involves several key steps. Here’s a detailed guide:

  1. Conduct a Trademark Search

    • Check existing trademarks to ensure yours is unique.
  2. Prepare Your Application

    • Gather necessary details, including the trademark design and list of goods/services.
  3. File the Application

    • Submit your application to the Solomon Islands Intellectual Property Office.
  4. Pay the Application Fee

    • Fees vary; check with the Intellectual Property Office for current rates.
  5. Application Examination

    • The office examines the application for compliance and potential conflicts.
  6. Publication for Opposition

    • If approved, the trademark is published for a period during which oppositions can be filed.
  7. Receive Registration Certificate

    • If no oppositions are filed, you receive the official trademark registration certificate.

Costs

  • Application Fee: Varies; contact the Intellectual Property Office for details.

Key Contacts

  • Solomon Islands Intellectual Property Office

Resolving commercial disputes in the Solomon Islands involves several key steps. Here’s a detailed guide:

  1. Consult Legal Counsel

    • Engage a lawyer experienced in Solomon Islands commercial law for advice.
  2. Attempt Negotiation

    • Try to resolve the dispute amicably through direct negotiation with the other party.
  3. Mediation

    • Use mediation services to facilitate a resolution. This approach is often faster and less costly.
  4. Arbitration

    • Consider arbitration for a binding decision. This can be an alternative to court proceedings.
  5. Litigation

    • If necessary, file a lawsuit in the Solomon Islands courts. Prepare for a formal legal process.
  6. Enforcement of Judgments

    • Ensure the decision is enforced through the relevant authorities.

Costs

  • Legal Fees: Vary depending on the complexity and duration of the dispute.
  • Court Fees: Required for litigation and depend on the case specifics.
  • Mediation/Arbitration Fees: Vary based on the service provider.

Key Contacts

When considering business in the Solomon Islands, it’s important to understand various factors:

Social and Cultural Factors

  • Language: English is the official language, but local dialects are widely spoken.
  • Business Etiquette: Relationships and community ties are valued. Face-to-face meetings are important.

Political Factors

  • Government: Parliamentary democracy and constitutional monarchy.
  • Stability: Generally stable, but political changes can affect business conditions.

Economic Factors

  • Currency: Solomon Islands Dollar (SBD).
  • Key Industries: Agriculture, fishing, forestry, and mining.

Foreign Exchange

  • Exchange Rate: Influenced by regional economic conditions. Check current rates regularly.

Rule of Law

  • Legal System: Based on English common law with local statutes.
  • Intellectual Property: Protected under national laws; enforcement can be challenging.

Infrastructure

  • Transport: Developing infrastructure; reliance on sea and air transport.
  • Utilities: Limited access in rural areas; ensure reliable supply for operations.

Key Contacts

Our Members Include Leading Organizations in Solomon Islands

Ask our Experts on Doing Business in/with Solomon Islands

If you’re looking to do business or invest in Solomon Islands, we can provide expert guidance, market insights, and valuable connections to help you navigate the local landscape. Contact us today to discover how we can assist in making your venture a success.