10 steps to incorporating in Papua New Guinea in 2024

Thanks to our Papua New Guinea business incorporation services, our Client will not have to travel to PNG in order to start his company there. Our firm will indeed complete all procedures on their behalf. Please refer to the standard timelines to complete the engagement, which is usually completed following the below steps:

PRE-INCORPORATION STEPS

1. Before Healy Consultants starts to incorporate our Client’s company in PNG, our Firm requires that he or she i) settles our fees requested to project-manage the engagement ii) signs and returns our engagement letter and iii) provides us scans of all the documents required for our due diligence checks. These steps are necessary for us to get an in-depth understanding of our Client’s profile and of their expected operations in PNG;
2. When the above is completed, Healy Consultants assists our Client to decide on i) proposed company’s name and ii) the optimum corporate structure including directors and shareholders;
3. Our project manager then drafts a detailed project plan for PNG company formation and corporate bank account opening services in PNG. This plan will list every step of PNG business incorporation and corporate bank account opening and ensure that our Client is informed of expected timelines for its completion;

INCORPORATION STEPS

1. Healy Consultants reserves company name with the Register of Companies and prepares company deeds of establishment and articles of association. The exact corporate structure is agreed with our Client;
2. Our Client supplies Healy Consultants with a lease agreement for their office premises. If this is not possible, Healy Consultants will supply virtual office services for 6 months until our Client finds their preferred business address;
3. Healy Consultants applies for i) state registration ii) tax registration and number at the Internal Revenue Commission and iii) registration of social security number and file and iv) any necessary trade licenses to relevant authorities;
4. Healy Consultants prepare a letter of intent to do business along with business plan and due diligence reports to the National Capital District Commission for any necessary trade licenses. Thereafter Healy Consultants will submit complete company incorporation documents;

POST-INCORPORATION STEPS

1. Healy Consultants will be pleased to open a PNG corporate bank account and activate online banking services. This can usually be done within one month. Subsequently, Healy Consultants assists our Client register the company with the Authorized Superannuation Fund (ASF) and receive a Company Registration Certificate within 30 days;
2. Healy Consultants can provide our Clients a PNG business address for invoicing purposes. In addition, our previous Clients have requested other services including telephone, fax, and email support. See our PNG virtual office services webpage for additional information on such services;
3. Alternatively, Healy Consultants can assist Clients to find business premises in PNG. We will also provide staff recruiting services. Following engagement completion, Healy Consultants will courier a full company kit to our Client, including original PNG corporate documents, unopened bank correspondence and a Client feedback survey regarding the quality of our PNG business incorporation services