Tuvalu is a small island country in the South Pacific Ocean that relies mainly on subsistence farming and fishing. The local government controls the main sectors of the economy and has privatised many functions to invite investment. In 2021, the GDP of Tuvalu was USD 63 million, and the GDP growth rate was 3%.
Funafuti, Savave Village
Doctors, Finance manager, Journalist
The top local universities in Tuvalu with ranks are mentioned below:
The below table mentions some common jobs with average monthly salary in Tuvalu:
|No.||Job Title||Average Monthly Salary (in AUD)||Average Monthly Salary (in USD)|
|1||Financial Manager||10,200 AUD||7,1055.43 USD|
|2||General Manager||9,040 AUD||6,297.40 USD|
Tuvalu follows a monthly payroll cycle.
Tuvalu has a minimum wage of TVD 3 – TVD 4,000 for public sector employees. The private sector in the country has no minimum wage limit.
The standard working hours in Tuvalu are 8 hours per day and 40 hours per week.
Tuvalu does not mandate 13th-month pay.
|Tuvalu National Provident Fund (TNPF)||10%|
|Tuvalu National Provident Fund (TNPF)||13%|
Tuvalu imposes a flat rate of income tax at 30% on all income above USD 1,900.
The standard rate of Value-Added Tax in Tuvalu is 7%.
Fixed and project-based contracts are terminated automatically after the period expires or the task is completed. However, employers need a lawful reason (redundancy, employee misconduct or unsatisfactory performance) before terminating an indefinite contract in Tuvalu.
In the absence of a specified notice period in the employment contract, employees in Tuvalu must serve a minimum of one week’s notice.
Every employer must credit all remaining financial dues, the notice period pay, and compensate the accrued but untaken annual leaves to the terminated employee. The final amount must be credited to the employee within 14 days of termination.
Tuvalu has a welcoming visa policy and allows EU and Schengen zone nationals to enter simply with their passports and an entry fee. Citizens of other countries must visit the embassy or consulate for a visa, after which they can live and work freely.