| Fiji Island Trade and Investment Bureau (FTIB) The changes to the Foreign Investment Regulations are effective from 11 July 2008. Reserved Activities Reserved activities are prescribed for Fiji citizens only. The following activities have been added to the reserved list: • Repair of personal and household goods • Amusement and gaming centres (added to Internet Café) • Plant management and logging (as part of Forestry) • A bakery business, other than those operated within the vicinity of a hotel/resort and/or operated by foreign owned hotels/resorts • Backpacker operations • A nightclub, other than those operated within the vicinity of a hotel/ resort and/or operated by foreign owned hotels/resorts • A liquor bar, other than those operated within the vicinity of a hotel/ resort and/or operated by foreign owned hotels/resorts. The following activities have been removed from the reserved list: • Shore repair kiosks • Veterinary services Restricted Activities Restricted activities have conditions that must be met by foreign investors who wish to pursue them. Previously the condition in most instances was Fiji citizen participation in equity. This has been changed to a “minimum amount in cash from operational date”. Restricted Activities Activity Old requirement New requirement Fishing At least 30% equity held by local No change Agriculture At least 40 percent equity held by Fiji citizens. At least $250,000 in cash from operational date Manufacturing: Manufacturing of furniture made of woods At least 30 percent equity held by Fiji citizens. At least $300,000 in cash from operational date Boat building New addition to the list No requirement • At least $500,000 in cash from operational date Manufacture of tobacco products New addition to the list No requirement • Use at least 50% locally grown and processed tobacco in all domestic cigarette production; and • At least $750,000 in cash from operational date Tourism: Restaurant business (other than those operated by foreign owned hotels) • At least $200,000 in fixed assets; and • At least 50 percent equity held by Fiji citizens for investments up to $500,000 in fixed assets At least $250,000 in cash from operational date. Rental hire car/chartered land transport tour operator business At least $500,000 in fixed assets. At least $500,000 in cash from operational date. Cultural heritage At least 51 percent equity held by Fiji citizens. At least $500,000 in cash from operational date. Services: Hairdressing and other beauty treatments At least $250,000 in fixed assets. At least $500,000 in cash from operational date. Maintenance and repair of motor vehicles • At least $500,000 in fixed assets; and • At least 50 percent equity held by Fiji citizens for investments up to $1,000,000 in fixed assets At least $500,000 in cash from operational date. Freight forwarding and Customs House Agent Formerly known as “Customs House Agent”. At least 51 percent equity held by Fiji citizens. At least $500,000 in cash from operational date. Real Estate Management At least 51 percent equity held by Fiji citizens. At least $5 million in cash from operational date. Restricted Activities Fees Effective Monday 14th July, the Foreign Investment Registration Certificate (FIRC) application fee increases from $14 (VIP) to $2,812.50 (VIP). Launch of new website FTIB has launched the new website (www.egov.gov.fj) that allows foreign investors (or their representatives) to apply for a FIRC online. It is intended that the site will coordinate with all relevant government agencies and track investors online. |
