Vanuatu Banking License
The Republic of Vanuatu is an island located in the South Pacific long known as an international offshore financial services center. The Island is a parliamentary democracy with a strong constitution. A former protectorate of Great Britain, the primary language of Vanuatu is English. While the Vanuatu dollar is the official recognized currency of the nation, the United States dollar is widely recognized and accepted. All major international currencies are supported in Vanuatu by a stable and robust banking system created by the Vanuatu Banking License.
As an offshore financial services center, the Republic of Vanuatu is widely respected and recognized. The nation boasts a no tax regime on offshore profits and only a minimal stamp duty on domestic share transfers. As an asset protection haven, the island offers significant hurdles to affixing liability, including a restriction against the domestication of foreign judgments. For such reasons, sophisticated financial services organizations have flocked to the small, yet exceedingly stable, island nation.
The Republic of Vanuatu is an ideal location for the formation of an offshore bank. Vanuatu offers an International Bank License which covers all related banking activities, including accepting deposits and issuing debit cards. The Vanuatu Banking License is recognized world-wide and is both cost effective and can be accomplished quickly.
Advantages of a Vanuatu Banking License
In recent years, increasingly complex regulation and an erosion of financial privacy rights in major financial centers such as the United States and European Union have continued to drive the offshore banking industry. Billions of dollars are kept on deposit in offshore banks, even as certain jurisdiction have increased their focus on Anti-Money Laundering controls – which has only enhanced the legitimacy of offshore banking. However, with this industry push towards great transparency has come a tremendous market opportunity to start an offshore bank as the majority of banks have stopped accepting international and/or traditional high-risk banking clients.
Vanuatu Banking License at a Glance
|License||International Bank License|
|Time to License||3 to 4 Months|
|Paid-In Capital Requirement||Approx. $500,000|
|Tax Structure||Zero (0%) Percent Tax on Offshore Profits|
The Vanuatu Banking License Package
- Incorporation of Vanuatu offshore corporation
- Arrange for local registered officer and local directors, if required
- Draft corporate bylaws, minutes and owner share issuances
- Establishment of corporate bank account suitable for forex operations
- Establishment of merchant service account for accepting credit and debit cards
- Draft requisite business plan, financial statements and financial projections
- Draft requisite Anti-Money Laundering & Know-Your-Customer policies
- Arrange for requisite surety bond
- Prepare and process application for Vanuatu International Bank License
- Representation before licensing regulatory authority, banks and liquidity providers
Contact the Vanuatu Banking License Experts
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