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.
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 licensure 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|
|Capital Requirement||Approx. $500,000|
|Tax Structure||Zero (0%) Percent Tax on Offshore Profits|
The Vanuatu Banking License Package
Formation of Vanuatu International Business Corporation.
Preparation and drafting of shareholder & officer agreements.
Preparation and drafting of narrative business plan.
Prepare five year financial projections.
Preparation and drafting of current financial statements
Preparation and drafting of personal financial statements for owners
Identification and draft letters naming principal representative and auditor.
Draft and prepare required bank charter and prospectus
Preparation and drafting application with Vanuatu Financial Services Commission
Respond and draft responses to FSC application inquiries.
Facilitate and consummate bankcard relationship with Visa & Mastercard
Preparation and drafting of policy agreements and related documents.
Facilitate and consummate IBAN/SWIFT and correspondent bank relationship.
Provide for required physical presence and local director
Preparation and review of bank deposit, loan and related agreements.
Contact the Vanuatu Banking License Experts
Trust our over fifty year’s combined experience in creating innovative solutions for our clients. Contact the offshore banking license experts at FinLaw to begin the process of obtaining your Vanuatu Bank License today. Our knowledgeable and skilled professionals are pleased to answer any of your questions.