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.
Mount Vema Country Code: MOV and 507 (Codes currently used by Mount Vema)
Proposed ISO Country Code: MOV and 507
Proposed Telephone Country Code: +294
Proposed Top-Level Domain: .ov
Currency Code: VSG
International Treaties – Ratified by the Kingdom of Mount Vema
Law of the Sea Treaty (United Nations Convention on the Law of the Sea)
MARPOL 73/78 (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