Mount Vema has introduced a new policy that establishes some economic barriers to entry. The barrier is a cost that must be incurred by a new entrant into the Mount Vema Market when incumbents do not have or have not had to incur.
The policy was introduced to protect those who come first, such as distributors or retailers, trademarks, servicemarks, patents owners and the supply chains. The policy is part of a plan to support those companies who are joining the project at this crucial stages of development.
Companies will need distributor agreements, an exclusive agreement which must be made with licensed distributors or licensed retailers. Potential entrants will require access to equally efficient production technology as the one already in use in order to freely enter the market. Trademarks, Servicemarks and Patents owners have the legal right to stop other firms producing a product for a given period of time, and so restrict entry into the market. Also exclusive agreements with key links in the supply chain will be required.
Mount Vema will be a small market, but the key is to be one step ahead and identify the opportunities before the market catches up. In this type of environment, the early investors always enjoy the rewards.
Considering that for the economy to work just in terms of management of its natural resource (fish), a single district will provide accommodation to 25,000 people, which is roughly the number of accommodations allocated for each district that will total 250,000+ residents.
These are the residents that will manage seafood production, distribution, sales and marketing to the world, revenues, investments, maintenance of the fisheries infrastructures, including ships. They will all need to do their daily shopping, banking, take children to school, socialize and be entertained from time to time.
If you are a business serving 250,000+ customers including visitors, spending just about 500 golles a month each, that can generate more than 12.5 million golles (about $25 million dollars) every month, with some fees and expenses maybe just about 10 million golles a month that will be shared between government and traders.
Small income for some, but steady and reliable income for others. These figures do not include the real estate market, or any other sector. So if you are a good businessman or businesswoman, you could aim to secure at least a share of this income. A business generating at least 500,000 golles a month ($1 million dollars or $12 million US dollars a year) can go a long way.
Mount Vema has announced today complete departure from its development policy. The Vema Seamount Territory has always looked west for help when procuring building materials, equipment even securing future trade deals and recruitment of skilled workers. So far, there is a sense of lack of visionary leadership in the west.
As the city construction deadline looms, the Vema Seamount Authority has begun to look east, where support can be found from more practical and decisive visionary leaders. A statement from the Mount Vema foreign affairs department reads that “…Mount Vema needs to start talking and working with those leaders and countries who are serious pro wealth creators rather than relying on potential trade partners easily influenced by the media or public opinion.".
China and Russia have moved to the top of the list as potential trade partners as Mount Vema pushes for deals from currency swaps, to reliable supply of construction material, manpower, equipment, household goods, security equipment, food, medicine and more, to meet its development deadlines.
The Kingdom of Mount Vema announced today that it is now policy not to charge income tax to people who will live and work in Mount Vema except for ISN contributions and VAT. The policy also applies to businesses when they operate within the jurisdiction of His Mount Vema Majesty’s realm.
The decision was made yesterday, followed by the official statement from the Royal Mount Vema Department of Finance, to clarify on any misconception, that the Kingdom of Mount Vema will be an offshore tax haven. His Mount Vema Majesty’s government runs the territory in accordance with internationally recognised principles of good governance. The statement said.
The Kingdom will not be a tax-free territory, because all residents will pay tax in the form of VAT on all goods and services plus ISN contributions. Furthermore, corporations will face a tax on profits – unless they can demonstrate that three-quarters of company turnover is generated within the confines of His Mount Vema Majesty’s realm.
In addition, the statement reads that, unlike those jurisdictions labelled offshore tax havens, Mount Vema will not offer "offshore financial services", nor will the territory permit or facilitate the registration of offshore corporations looking to operate in such a way as to avoid paying tax in other jurisdictions.
The Kingdom of Mount Vema, according to the statement, manages to balance its books without any plans for heavy tax burdens on people who will be living and working in the island. The absence of income tax will not entail an absence of social conscience, and so the state revenue, will be able to fund an excellent health service, an efficient education system, a good public transport network and comprehensive social services.