Offshore bank in Vanuatu – International banking license in Pacific.
Vanuatu is an established offshore finance center in the Pacific region with a great variety of tax benefits.The Reserve Bank of Vanuatu issues the International Bank licenses under the International Banking Act of 2002 and it also regulates all active banks in the Vanuatu.
Requirements and overview:
- Minimum paid up capital of at least USD 500,000.00 held at reputable bank in or outside Vanuatu
- Time to process application – 4 months
- Licenses are issued to person/body corporate which is “fit & proper".
- The ownership spread and financial capacity of the applicant are satisfactory.
- All directors and managers are fit and proper persons and have sufficient experience in international banking.
- The risk management, the know your client procedures, accounting and internal control systems of the applicant are satisfactory.
- The international bank must have an office and professional staff working in Vanuatu.
- All the records of the international bank must be kept in Vanuatu.
- The bank cannot offer the services to Vanuatu residents or in Vatu (local) currency
If you have some additional questions about getting Vanuatu offshore bank licences please contact us.