For businesses with a turnover of under RI million a year, registration for VAT is optional: you don't have to register as a VAT vendor, but you may if you want to. Here are some pros and cons:
A VAT registration number makes your business seem more established and professional.
If your business is cash intensive and your suppliers are charging VAT then you can claim that VAT back
It is a lot more admin as you need to submit and file your VAT returns every 2 months. This usually requires an accountant.
Paying the bi monthly VAT can cause cash flow issues. VAT is due the moment you send an invoice, even if you only get the money at a later stage.
You will need to charge VAT on your invoices which makes your product/services more expensive.