His Mount Vema Majesty King Peter J. Goldishman - The Vema Seamount Authority is scheduled to meet more than 10 world leaders before departing to Mount Vema where he will personally oversee the works over Vema Seamount.
Arrangements and final security detail are taking place, including transportation, and logistics. Peter Goldishman is seeking face to face meetings with leaders of countries that could be crucial in the success of the city project specially in terms of logistics.
With so much investment being secured for the project, the Vema Seamount Authority feel confident that he has the means for a solid burgeoning trade with the rest of the world and will seek to reassure leaders that Mount Vema will be a reliable partner with regards to economic development and poverty reduction through job creation.
The government has not yet published the list of which countries he will visit but people close to the monarch told VSBCnews that the list will be published as soon as all dates have been confirmed. But because the focus remains supplies, building materials and skilled workers, you can almost guess where he will be going to.
The travel arrangements are also part of a long-term plan to offer sweeteners immediately, by announcing millions of jobs by placing orders for new ships, rescue helicopters, household goods, furniture, office equipment, medicine, and other equipment and parts, in the countries he will be visiting, to support the economy of the Kingdom of Mount Vema.
The Government has confirmed rumours that it has authorized W-Contractors to spend 1.6 million golles to pay for a floating dry dock before the end of October. The purchase is part of a plan to acquire three large floating dry docks for building, maintenance, and repair ships, boats, and other water craft in Mount Vema.
The docks will be used during the construction of large structures for the City of Mount Vema, as they have always been the key in construction of large structures. One example is the dry dock on the artificial island of Neeltje-Jans used for the construction of the Oosterscheldekering, the large dam in the Netherlands that consists of 65 concrete pillars weighing 18,000 tonnes each. The pillars were constructed in a drydock and towed to their final place on the seabed.
The dry dock will be the work place for architects, project engineers, naval architects and foremen, and will be key to ensuring the safe, timely and well-resourced completion of projects in many areas including buildings the Port of Mount Vema, the Yacht Harbour, the floating city ducks and breakwaters.
Dry docks will continue to be used after the construction of the City of Mount Vema, by naval architects to design, build and repair floating structures and homes for the City of Mount Vema project, including build and repair ships boats and other seafaring vessels and offshore structures including ferries, high-speed craft, merchant ships - tankers, cargo ships, passenger liners, pleasure craft - yachts, power boats, working vessels - fishing boats, and rescue boats.
A few days ago, no one could say anything, now we know why. A major announcement was due. The Government announced this morning that it has all in place to start what some have waited for 12 years. “There are some key deals with hundreds of contractors still to be negotiated, but we have the basics to get started.” Said the government in a statement this morning.
Until more companies join the pioneering journey to Mount Vema, transportation services for the workforce will be provided by W-Southern, all paid for by the employer. Jobs will be rotational, and staff will be 3 months at sea 1 month off, meaning 3 months off each year and 9 months at sea, until January 1st, 2020.
Workers travel expenses will be paid by the employer 3 times a year however people will be able to travel as often as they wish, at their own expense. From 2020 everyone will be responsible for paying their own transportation fare whenever they decide to travel.
Temporary accommodation will be provided by Bavarolle, paid by the employer until January the 1st 2020, the year when workers will be responsible for paying for their own accommodation. One thing the employers will not pay for is the entry visa/work permit fee.
Temporary work permits/entry visa have nothing to do with the employer, the entry fee at this stage should be waved too, however it won’t according to the government as it will be needed to maintain essential services including healthcare, security and emergency.
Meals will be prepared by specialist private contractors to be appointed from time to time, paid by the employer until January the 1st 2020. From this date workers will be responsible for paying for their own meals.
Healthcare will also be provided by private contractors, paid by the employer until January the 1st 2020, when the health service will be provided from hospital or clinics and will remain generally free for everyone.
Internet will be provided by private contractors to be appointed from time to time by MVScloud, until January the 1st 2020, when everyone will be responsible for paying for their own internet bills. The government is advising that some cell phones may not work in the area, but there will be other means to call home. Or people will need to buy a Mount Vema cell phone.
The government announced today that it could consider a temporary bilateral agreement on free movement of people to help prevent delays caused the entry visa application process during construction, only if it meets counter-terrorism protocols.
The announcement comes after several governments especially those most likely to benefit from revenues from remittance, made an informal request to supply manpower to the City of Mount Vema construction project if there is free movement of people. According to people familiar with the requests, officials from more than three countries have proposed similar deal for free movement for workers.
There is no official statement from His Mount Vema Majesty’s Government on the issue, but people familiar with the request say that The Vema Seamount Authority don’t seem to have a problem with the request providing that the deal is only temporal and must be subject to any proposal meeting Mount Vema strict security checks and including counter-terrorism protocols, before any foreign citizen is allowed to travel freely without a visa to Mount Vema for tourism or temporary work.
The Vema Seamount Authority is willing to make concessions that enables businesses to move “their people” from anywhere in the world to Mount Vema – and vice versa – before 2020, according to a person close to the government who wished to remain anonymous, but with so many people and foreign leaders expected to visit Mount Vema before and after 2020, security is paramount.
The Vema Seamount Authority – Peter Goldishman has today issued an invitation to President Emanuel Macron, to visit the Vema Seamount Territory in 2020.
Mount Vema has officially revised its development policy and sees the growing interest from France, towards the City of Mount Vema developments as an indication that deals can still be made in Europe.
The Vema Seamount Authority has asked President Macron for help with building materials as the Monarch senses that Mount Vema could find a more reliable partner in France and an ally that could enable the Vema Seamount Authority to meet its development deadlines.
The Reserve Bank of Mount Vema has indicated today that the Vema Seamount Authority will make no changes to the debit ceiling. A decision made annually by the Reserve Bank on behalf of the Sovereign at the request of the Capital House Administration.
Every year in August after Independence Day Celebrations, the administration reports the state of the Vema Seamount and the community, a tradition to be followed by every Prime Ministers to outline the legislative proposals for the upcoming year, when proposing a new budget to request an increase to the debit ceiling.
This year and until 2024, in the absence of a Prime Minister, Capital House will be administered by a team of staff who will be responsible for outlining the legislative proposals for upcoming years, propose new budgets and request increases to the debit ceiling. So, because it will be presented directly to the sovereign, there will be no state of the territory speeches.
The Reserve Bank announcement was followed by the Central Bank (Bank of Mount Vema) own decision not to raise interest rates currently at 3.45%. The Bank of Mount Vema move was in line with market expectations.
The Vema Seamount Authority announced today plans to reconnect with U.S. retail giant Walmart after six years, when the first contact was made. Another clear indication that the Kingdom of Mount Vema is back in business.
The initial contact with Walmart was first made in July 2012, when the government’s ambitious investment drive programme, was officially launched, and Walmart Inc. the American multinational retail corporation that operates a chain of hypermarkets, discount department stores, and grocery stores responded warmly to the invitation to invest in the Kingdom of Mount Vema.
In a letter, back in 2012 Walmart responded positively to the Royal Mount Vema Embassy’s ‘preliminary’ request for Asda Group Plc to indicate if they would be interested in taking up the offer to enter the Kingdom of Mount Vema’s expanding economy.
The letter was signed by Leigh Hopkins, then the retail giant’s Vice President: ‘As you may know,’ he said, ‘we are always looking for new markets where we can improve the quality of life of people through our everyday low prices.’
‘We will keep your comments in mind in case opportunities arise in that area at the appropriate time.’ Hopkins, who is also responsible for the International Business Unit of Walmart, was responding to the then Royal Mount Vema Embassy’s Honorary Consul’ s proposal to Asda Group Plc for the supermarket chain to invest in Mount Vema.
Now the appropriate time has come. Mount Vema is ready for Walmart and contact will be made this month as The Vema Seamount Authority continues his tireless efforts to find reliable partners and suppliers for the City of Mount Vema Project.
The Mount Vema Monarchy is keen to have Asda Group Plc on board because the company has the ability to create a reliable distribution infrastructure with the backing of its parent company Wal-Mart Plc, which would create an inflow of jobs to the already vast empire that is Asda and it would allow Asda Group Plc to create a larger international presence alongside any financial rewards it may gain.
The proposal, presented to Asda about six years ago, was part of His Mount Vema Majesty’s government’s deliberate investment drive to lure major international companies to tap into the kingdom’s developmental projects.
Other companies targeted back in 2012 that will be re-approached by the government includes retail giants Tesco, Alliance Boots, mobile phone operator Vodafone, and financial service providers HSBC Holdings, Barclays, JP Morgan Chase and Goldman Sachs banks.
Capital House, the Office and the official residence of the Prime Minister of Mount Vema, will operate without a Prime Minister, until direct elections by popular vote in 2024. The Vema Seamount Authority announced today.
In a statement issued today, The Vema Seamount Authority – His Mount Vema Majesty King Peter J Goldishman said he “will not be appointing a Prime Minister until 2024”. The statement explained how by appointing a prime minister now, will slow down progress as it will require training someone who may not have the best interest of the territory at heart and who may easily resign when the going gets tough, therefore creating instability at this crucial stage of developments.
So, the Mount Vema Capital House will be until 2024 administered by officials temporarily appointed by the Monarch, who will coordinate government operations under the direction of the Vema Seamount Authority. They will be able to make proposals, nominate acting ministers, to join or ask ministers to resign, or perform other ministerial roles or posts.
When appointed, The Prime Minister of Mount Vema, will be the head of a cabinet and the leader of the ministers in the executive branch of the government, who will select and dismiss other members of the cabinet, and will allocate posts to members within the government. The Prime Minister will be the official who will manage the civil service and will execute the directives of the head of state (The Vema Seamount Authority).
The Prime Minister will be expected with other ministers to ensure the passage of bills through the legislature. Although the monarch (The Vema Seamount Authority) also exercises executive powers (the royal prerogative) that are constitutionally vested in the Crown of Mount Vema and may be exercised without approval.
In 2024, the Prime Minister of Mount Vema will enter into office by direct election by popular vote, the winner will then set timescale within which they must form a cabinet, receive the confidence of the congress (Elected District Officials and Representatives) after presenting the Cabinet Composition and Legislative Program to Congress, then the winner can be officially appointed by the reigning monarch (The Vema Seamount Authority).
The Prime Minister of Mount Vema will not be appointed for a specific term in office and in effect may remain in power through a number of elections and congresses. In case of a letter of resignation or a request for dissolution of congress, the latter in effect will allow the government to appeal the opposition of congress to the electorate. However, the head of state (The Vema Seamount Authority) may refuse the dissolution of congress, requiring the resignation of the prime minister and his or her government. Nevertheless, the prime minister is the person who will decide when to request a dissolution of congress which will have to be confirmed by the sovereign.
Reply to invitation from His Serene Highness Prince Hans-Adam II of Liechtenstein to visit The Vema Seamount Territory in November 2020, received a message of gratefulness from the Vema Seamount Authority.
After the official reply, The Vema Seamount Authority – His Mount Vema Majesty King Peter J Goldishman, said in his correspondence that he was grateful for the reply to the invitation he sent and understood the message.
Officially the Principality of Liechtenstein, the country is a beautiful doubly landlocked German-speaking microstate in Central Europe. A constitutional monarchy headed by the Prince of Liechtenstein.
Liechtenstein has one of the highest gross domestic products per person in the world when adjusted for purchasing power parity, and the highest when not adjusted by purchasing power parity. The unemployment rate is one of the lowest in the world at 1.5%.
It is an alpine country, and one of the world’s best winter sport destinations. It has a strong financial sector centered in Vaduz. Liechtenstein is a member of the United Nations, the European Free Trade Association, and the Council of Europe, and although not a member of the European Union, the country participates in both the Schengen Area and the European Economic Area. It also has a customs union and a monetary union with Switzerland.
As Mount Vema continues its mission to find reliable suppliers for the City of Mount Vema, Citrus fruit is next. The government is looking to South Africa, Brazil, China, the United States, Mexico, India, and Spain, the world's largest citrus-producing countries to find deals.
Orange and grapefruit juices are expected to be very popular breakfast beverages in Mount Vema, including lemonade which will be processed to produce beverages (juices) for domestic consumption and exports.
Citrus fruits have well-documented nutritional and health benefits. They can help prevent and cure some diseases and has been associated with a 10% reduction in odds of developing breast cancer.
Oranges were historically used for their high content of vitamin C, which prevents scurvy, which is caused by vitamin C deficiency, and can be prevented by having 10 milligrams of vitamin C a day. An early sign of scurvy is fatigue. If ignored, later symptoms are bleeding and bruising easily.
Citrus fruit intake is associated with a reduced risk of stomach cancer. Also, citrus fruit juices, such as orange, lime and lemon, may be useful for lowering the risk of specific types of kidney stones.
Grapefruit is another fruit juice that can be used to lower blood pressure because it interferes with the metabolism of calcium channel blockers, and Lemons have the highest concentration of citrate of any citrus fruit, a daily consumption of lemonade has been shown to decrease the rate of kidney stone formation.
The newly established direct communications between the United Kingdom of Great Britain and the Vema Seamount Territory – The Kingdom of Mount Vema, is already paving the way for possible trade talks after a proposal was submitted by the Mount Vema government last week to establish a designated area for the purpose of customs and excise, to give priority to British companies to start exporting goods and services to the Vema Seamount Territory.
The proposal will be followed by another proposal for a joint defense treaty to be submitted by the Vema Seamount Authority to the British Government next week. According to the Mount Vema Department of Defense, the aim is to strengthen and promote close cooperation, defense training and information sharing.
Mount Vema will seek a deal to provide about 10million golles for the initiative, which would include a berth for the British Royal Navy, and if agreed, the UK would provide the equipment and manpower to protect the shared values, people and common interests in the South Atlantic.
With the proposal, Mount Vema seeks to build a strategic partnership with Great Britain from a base of deep ties of friendship that will continue to flourish for many years to come.
The Vema Seamount Authority – Peter Goldishman has instructed the Royal Mount Vema Reserve Bank to authorize the Bank of Mount Vema to engage in reciprocal currency arrangements (central bank liquidity swap lines) with Southern Africa central banks on as needed bases to help provide liquidity in golles to Southern Africa markets.
When requested, swap lines will be opened for deals with the central banks of Angola, Botswana, Lesotho, Malawi, Mozambique, Namibia, South Africa, Swaziland, Zambia, and Zimbabwe, at lower interest rates.
How central bank liquidity swaps work
Swaps involve two transactions. When a foreign central bank draws on its swap line with the Bank of Mount Vema, the foreign central bank sells a specified amount of its currency to the Bank of Mount Vema in exchange for golles at the prevailing market exchange rate. The Bank of Mount Vema holds the foreign currency in an account at the foreign central bank. The golles that the Bank of Mount Vema provides are deposited in an account that the foreign central bank maintains at the Bank of Mount Vema.
At the same time, the Bank of Mount Vema and the foreign central bank enter into a binding agreement for a second transaction that obligates the foreign central bank to buy back its currency on a specified future date at the same exchange rate. The second transaction unwinds the first. At the end of the second transaction, the foreign central bank pays interest, at a market-based rate, to the Bank of Mount Vema.
When the foreign central bank lends the golles it obtained by drawing on its swap line to institutions in its jurisdiction, the golles are transferred from the foreign central bank's account at the Bank of Mount Vema to the account of the bank that the borrowing institution uses to clear its golle transactions. The foreign central bank remains obligated to return the golles to the Bank of Mount Vema under the terms of the agreement, and the Bank of Mount Vema is not a counterparty to the loan extended by the foreign central bank. The foreign central bank bears the credit risk associated with the loans it makes to institutions in its jurisdiction.
The foreign currency that the Bank of Mount Vema acquires is an asset on the Bank of Mount Vema's balance sheet. The golle value of amounts that the foreign central banks have drawn but not yet repaid is reported as "Central bank liquidity swaps”. Because the swap will be unwound at the same exchange rate that was used in the initial draw, the golle value of the asset is not affected by changes in the market exchange rate. The golle funds deposited in the accounts that foreign central banks maintain at the Bank of Mount Vema are a Mount Vema Reserve Bank liability.
In principle, draws would initially appear as "foreign and official" deposits. However, the foreign central banks generally lend the golles shortly after drawing on the swap line. At that point, the funds shift to the line "deposits of depository institutions”.
When a foreign central bank draws on its swap line to fund its golle tender operations, it pays interest to the Bank of Mount Vema in an amount equal to the interest the foreign central bank earns on its tender operations. The Bank of Mount Vema holds the foreign currency that it acquires in the swap transaction at the foreign central bank (rather than lending it or investing it in private markets) and does not pay interest.
Why is a currency swap important?
It’s often difficult to get favorable loans in foreign countries. For example, a business owner may be unable to get a foreign loan at a low interest rate.
In your home country, it’s relatively easy to get a loan with a reasonable interest rate. But it might be difficult for a foreign business owner to get equally favorable terms in your country. The same goes for you in other countries.
That situation creates the right elements for a currency swap. With a currency swap, you and a foreign business owner can essentially take out loans for each other, swapping those loans to mutually benefit from lower interest rates.
Say you need to borrow 100,000 golles to do business in Mount Vema. You approach multiple Mount Vema banks inquiring about loans, but you run into the same problem each time: The loans come with sky-high interest rates because your business is not registered within the jurisdiction of the Vema Seamount Territory.
At the same time, a Mount Vema business owner needs to borrow the same amount as you do but in Rands — let’s say 100,000. Like you, all he gets from South African banks are exorbitant interest rates.
There’s an opportunity for a currency swap here:
First, you take out a 100,000 loan from your bank.
At the same time, the Mount Vema business owner takes out a 100,000 loan from his bank.
Now you and the Mount Vema business owner effectively swap your loans: You give him 100,000 in your currency, and he gives you 100,000 in his currency (or the equivalent depending on the exchange rates).
You repay the loan you took out from your bank, and he does the same with his bank.
The Treasury of the Vema Seamount Territory announced today that Mount Vema government bond coupons will no longer be paid in cash. Holders of all types of Mount Vema government bonds worldwide, including MV-Bills and MV-Notes, must open a bank account to avoid missing out on payments, especially bond payments due on June the 28th.
The new policy proposed in April and approved by the Vema Seamount Authority last week, was introduced to cope with the increasing demand for Mount Vema government bonds from private investors and the shortage of Mount Vema bank notes.
Financial services exchanging golles to other currencies are available in selected locations worldwide. However, Mount Vema bank notes in circulation are very limited therefore very difficult to find. Almost 98% of the currency supplied by the Central Bank of Mount Vema is electronic printed money, so demand for bank notes is very high.
We contacted people at the central bank for comments, and in a statement issued to VSBCnews, the Bank of Mount Vema said, “…it is not monetary policy to operate a 100% cash free economy. The issue is that the facilities to print bank notes are not yet available to the bank, so there will be a shortage of bank notes for some time”.
One of the problems with this new policy and the lack of bank notes, is that it affects private Mount Vema government bond holders in remote regions in foreign countries usually paid in golles which was then exchanged for local currency since government bonds have always been paid in golles.
Because the golle is becoming a rarer commodity and no one seems to want to get rid of it, banks are running out of bank notes. To minimize the problem, the treasury said that, those affected by the policy will be paid with Mount Vema travellers cheque as a temporary option which can be converted into local currency or other foreign exchange at the facilities provided by agents working with the RBMV Bank – The Royal Bank of Mount Vema in foreign countries and territories.
As part of its commitment to international development cooperation and to promote internationalization of its education systems, the Mount Vema government awards government-funded scholarships to international students from around the world.
Some scholarships are in the form of tuition fee waivers only, some only cover living expenses, while some offer a partial cash grant but there are those scholarship programs that cover both tuition fee and living expenses and sometimes include travel costs, book allowance, and including insurance. Fully funded scholarships provide most, if not all, of what is needed to pursue studies abroad.
The scholarship program which has resumed this year, will close today at 5 pm for 2018 applicants. People who want to study anywhere or in their own country and at the same time want the benefit of an international education, subscription for distance learning education is still opened. It is cheaper than actually studying abroad because everything is done online.
His Mount Vema Majesty’s government confirmed today that it is expanding its diplomatic and consular services in more than twelve countries next week Monday to respond to an increasing demand for Mount Vema government contracts overseas.
The Royal Mount Vema Department of Foreign Affairs is reopening services in Lisbon – Portugal, Madrid – Spain, Amsterdam – The Netherlands, - Sao Paulo – Brazil, Berlin – Germany, Cape Town – South Africa, Luanda – Angola, Beijing – China, Washington DC and New York – USA, Moscow – Russia, and Singapore.
The offices will be used as liaison centers to enable Mount Vema Government agencies to purchase a wide range of goods and services from business of all sizes. The offices will promote opportunities and understanding on how to sell to Mount Vema government.
The Government is now ready to apply to a new method of raising funds for purchasing of ships by Mount Vema Corporations, after His Mount Vema Majesty King Peter – The Vema Seamount Authority approved the proposed bid submitted last week.
The news will enable the government to accelerate the availability of capital, so companies can finalize deals to purchase ships before the end of the year. The approval comes after a consortium of Mount Vema companies and W-Contractors submitted a bid last week to secure enough capital to purchase a fleet of ships.
Negotiations that typically take months due to the complexity of the contracts, was settled in a matter of days, after the Vema Seamount Authority got involved, to negotiate the required contracts in less than two weeks.
Representatives of the Vema Seamount Authority responsible for budget will now proceed to appropriate funds to purchase the required number of ships to stay on schedule. W-Contractors who already initiated procurement was pleased with the final deal.
With the bid approved, expenditures are expected to near 1 billion golles (about $2 billion USD) in total, significantly more than the original estimate last year.
Reports that ships are expected to arrive in Vema Seamount later in the year and early next year including cruise ships to be used as floating hotels, floating hospital, supply vessels, work barges and other specialist vessels, has triggered renewed interest in Mount Vema.
People who once worked for Mount Vema projects and had to leave when the project went through a reorganization period have begun to return, ready to reset the button and to start all over again. Many who misbehaved in the past have been pardoned, and most have been welcomed back by their old managers and team leaders.
The Vema Seamount Authority who has re-opened a new office for all international contacts in the United Kingdom including for diplomatic and consular issues, has issued a statement to say that everyone is welcome to return and start fresh. However, for those returning to set sail this year, the Ministry for National Development and Land Maintenance, warned sailor not to expect paradise at sea on arrival in Vema Seamount.
The Ministry said that until the port is built to harbour the ships, works will be carried out on the open sea. The ocean itself is unpredictable. People will be surprised by how much a ship bounces once it hits the open water. Although, ironically, rough seas and adventure are often more alluring to pioneers than the actual job they are expected to perform.
When it comes down to it, salt spray in the wind and orders from the captain are what going to sea is all about. Working on a ship will give you a sense of team work that can’t be replicated on land.
People who work on deck will experience a much more military style of life than those employees who work in spas and fitness centers for example. Employees who work in the deck job department will be responsible for maintaining a flawless routine. Tasks will be handed out as orders and deck hands will respond to a network of senior officers. Working as a deck hand won’t be stifling, but it will instill a sense of teamwork and order. While deckhand jobs seem to exemplify this style of living, it is true that all ship employees will experience the hierarchy that usually exists on a cruise ship. Everyone onboard will be required to show respect to senior officers, regardless of their position.
Ocean living can be an interesting experience. Some come to adore the ship life while others find it more restricting than they had imagined. This will greatly vary from person to person. Regardless of how you feel, living onboard a ship is a valuable experience. The responsibilities you undertake, the jobs you perform, and the teamwork you enjoy will be unparalleled to that of any other job.
The Vema Seamount Authority hopes those joining to set sail, are looking forward to the ship experience as much as anything else. They will soon find that working on any ship sailing to Vema Seamount is less like job, and more like a way of life.
The Vema Seamount Authority has approved a request that authorizes W-Contractors to spend just over 500,000 golles in foreign exchange to pay for an Exploration vessel to be permanently stationed in Mount Vema before the rest of the construction fleet arrives.
More than five ships are expected to arrive later in the year and early next year including cruise ships to be used as floating hotels and floating hospital, supply vessels, work barges and other specialist vessels.
This late announcement is part of the government plan to accelerate funding to purchase ships for the territory, by applying to a new method of purchasing ships for Mount Vema Corporations. Thus, accelerating the availability of capital, so companies can finalize deals to purchase ships before the end of the year.
More funds will be available soon, after a consortium of Mount Vema companies and W-Contractors submit a bid tomorrow to secure enough capital to purchase a fleet of ships. The government aims to negotiate the required contracts in just two weeks, which is much faster than what usually takes months due to the complexity of the contracts. Expenditures for the next five years are expected to near 1 billion golles (about $2 billion USD) in total, significantly more than the original estimate last year.
W-Contractors has approached Cash Processing Solutions (CPS), a strategic partner of De La Rue, to provide an integrated range of hardware and software solution to the Bank of Mount Vema, including consultancy and support services to enable Mount Vema to maintain high-speed cash sorting and authentication systems.
The move was made today after the procurement company expressed its intention to work with De La Rue, the British banknote manufacturing company, that also specialises in security printing of passports, brand authentication and paper-making company with headquarters in the UK.
The services provided by Cash Processing Solutions and De La Rue will help facilitate internal cash-based trade, especially during construction and after to support the internal transactions of goods and services in cash.
Their services would be required as early as August 2018 and latest December 2018, as source from W-Contractors told VSBCnews. These latest contracts are creating new opportunities for many businesses to expand to the Mount Vema market. According to traders at the Gollexi who expect positive changes in the stock market.
The Vema Seamount Authority - Peter Goldishman has invited the President of the United States Donald Trump to visit the Vema Seamount Territory - Mount Vema. The invitation was issued today for a work visit in December 2020.
His Mount Vema Majesty King Peter Goldishman has with the invitation, reaffirmed his intention to maintain a line of communication with the White House administration for economic purposes, expressing His Mount Vema Majesty’s, desire to maintain fruitful and productive relationship with the United States, to foster agreements to facilitate the import of needed materials, parts, products and services to the Vema Seamount Territory from the United States.
His Mount Vema Majesty’s Government will apply to a new method of raising funds for purchasing of ships by Mount Vema Corporations. The government wants to accelerate the availability of capital, so companies can finalize deals to purchase ships before the end of the year.
A consortium of Mount Vema companies and W-Contractors will submit a bid on Friday to secure enough capital to purchase a fleet of ships. The government aims to negotiate the required contracts in just two weeks, which is much faster than normal. Such negotiations typically take months due to the complexity of the contracts.
Representatives of the Vema Seamount Authority responsible for budget are set to appropriate funds to purchase the required number of ships to stay on schedule. W-Contractors who already initiated procurement, will also be responsible for upgrades, according to documents obtained by VSBCnews.
Expenditures are expected to near 1 billion golles (about $2 billion) in total, significantly more than the original estimate last year. W-Contractors declined to comment. The Ministry for National Development and Land Maintenance acknowledged, however, that the timeline for the procurement is “ambitious.”
Facts updated by Wikipedia, the free open content online encyclopedia which, includes References, Discovery, Geomorphology and Geography, Geology and Biology of Vema Seamount was welcomed by the Vema Seamount Authority today.
Although much information about its current administration needs to be added according to the Vema Seamount Authority, Mount Vema is generally satisfied with the updates which proves once more the existence of the territory, and the importance of the protection of the marine life.
The Vema Seamount Authority is also pleased that more facts about Vema Seamount can be found from a source other than the websites associated with His Mount Vema Majesty’s Government.
Since 2006 and up to very recently there was almost no information about the territory except from Mount Vema own websites until now. This is an important step on the right direction to recognise the existence of a territory that has been there for millions of years, specially from an encyclopedia as relevant as Wikipedia.
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.
The government introduced today the Mount Vema ISN (Internal Security Number) system. A unique number to be issued to everyone working for Mount Vema companies and, paid out of the financial system of the Kingdom of Mount Vema.
The Government will issue temporary numbers T-ISNs, and permanent ISNs to enable people to keep the same one all their lives. The system will make sure that what people pay, when paid out of the Mount Vema financial system is properly recorded against their name, by HMVM Revenue Services.
Every Internal Security number is different and, is made up of letters and numbers like this: T-ISN or ISN10-0001-0017-0418-MV. The Internal Security number will never change even if the person leaves the Mount Vema employment system, goes abroad, marry, register as a civil partner, change name, etc, except when the number is issued temporarily (T-ISN) for people who employment with Mount Vema corporations will not require them to relocate to the Kingdom of Mount Vema in the future.
Who will use the Internal Security Number?
A person will have to give his or her Internal Security Number to: HMVM Revenue Services (His Mount Vema Majesty’s Revenue Services), the employer, the Mount Vema Department in charge of pensions, the legal aid services, the state benefits services for Mount Citizens overseas, and other international services including health insurance, education and professional training.
Internal Security contributions are deducted from wages by employers at 10%, from employees working outside Mount Vema, to pay for the systems that supports the enterprises that sustains the economy of the realm and employment. It does not include Income Tax, which is not applicable unless the person lives and works in Mount Vema. This is payable at different rates depending on the income. There are some allowances and reliefs available that can lower the Income Tax bill.
When and how to apply for an Internal Security number.
If you start work, and the advertised job says:
“Although you will not need to relocate to Mount Vema, the job is still classified as a Mount Vema Job Vacancy, so you will be paid in Mount Vema Golles, which requires you to open a Mount Vema bank account which should not be a problem as the employer can organize that for you. Then at the end of the month when you are paid, you can transfer your money into your local bank account in your local currency in full or on as needed bases. Because of this process, your employment should be treated as self-employed whereby you are responsible for your own tax obligations in your country of residence.”
Then you know you must apply for a Mount Vema T-ISN (Temporary - Internal Security Number) which your new employer can help you with in accordance with the length of the contract, by filling out the relevant form on your behalf and submit. You cannot work until your number have been issued.
People are advised to keep their numbers safe and not to give it to anyone who does not need it, to help prevent identity fraud.
His Mount Vema Majesty’s Government announced today that the territory has re-launched its plans to create jobs worldwide that would indirectly boost trade that would benefit millions of people, in line with the Vema Seamount Declaration of Sovereignty in 2006, for poverty reduction through job creation.
The declaration of sovereignty reads that, Vema Seamount was declared sovereign “with the aim to create new opportunities, provide healthcare, scholarship, professional training, and create jobs and accommodation to improve the lives of at least 100 million people throughout the world, of all races and background by 2025, and provide education for 500 million people world-wide by 2055”.
The plans for mass job creation in manufacturing, logistics, construction, security, hospitality and other sectors was halted in 2012, but after a restructure that took the Kingdom of Mount Vema almost five years, the government announced that it is ready to resume business as at 100% capacity.
The new job creation targets will be published annually and will set out clear actions and targets to help create positive conditions for job creation. The initiative will see all Government Departments and Agencies work together to deliver on agreed action points each year.
A significant consideration in drawing up the new plan was, transportation and accommodation especially during the initial stage of the construction of the Port of Mount Vema which is about to start, and the general changing global trading environment.
The government, with today’s announcement, wanted to reassure the hundreds of people applying for work in Mount Vema on daily bases, that the conditions are being created to facilitate travel to the island and genral work conditions. The hospitality and support services will be ready, as soon as recruitment and procurement targets are met to respond to the challenges of building a City in a location as remote as Mount Vema, and to ensure that the activities of the participating enterprises remain resilient in the face of changes to come.
Vema Seamount Legislation
The Statutory Laws of the Kingdom of Mount Vema
Law of the Sea Treaty (United Nations Convention on the Law of the Sea)
MARPOL 73/78 (International Convention for the Prevention of Pollution from Ships)
The Vienna Convention on Diplomatic Relations of 1961
The Vienna Convention on Consular Relations 1963
The Right to Self-Determination
Many believe because our community is not a member of the United Nations and is only just over a decade old, doing business with the Kingdom of Mount Vema is not possible for foreign nationals and foreign companies seeking to take advantage of the business opportunities the floating city project is creating. Nothing could be further from the truth. The territory doesn't need a United Nations membership to function as a sovereign territory, or to exercise its inalienable right for self-determination