The International Banking Act has enhanced the reputation of Vanuatu as a bona fide banking jurisdiction by strengthening the supervisory frame work to protect the interests of depositors, investors and ensure financial and monetary stability. All in consistent with internationally accepted standards of the I.M.F and the Basel Accords.
Key Features
- Applications for an International Banking License can be lodged under an International Company and take advantage of all the benefits associated with an International company.
- An international bank licensee cannot carry on banking business locally, only outside of Vanuatu. However the bank must maintain a physical office and keep all the bank’s records in Vanuatu.
- The bank must maintain at all times paid up capital of not less than $500,000 or in such minimum proportions in relation to its assets, liabilities or risk exposures.
- An advantage of the Vanuatu Offshore Bank License is that this capital need not be maintained in Vanuatu. It can be maintained in a reputable bank or financial institution outside of Vanuatu, subject to the approval of the Reserve Bank and may be invested in approved financial instruments.
Legal Requirements
|
Requirements |
Description |
|
General |
|
|
Vanuatu International Company |
|
· License application fee |
USD 8,000 |
|
· Annual license fee |
USD 8,000 |
|
Yes |
|
Share capital or equivalent |
|
|
USD 500,000 |
|
Directors |
|
|
2 |
|
Yes |
|
No |
|
Shareholders |
|
|
2 |
|
Yes |
|
No |
|
Company secretary |
|
|
Yes |
Tax Treatment
Vanuatu has no income tax, capital gains tax, tax on wealth, estate duty or inheritance tax.
Duration to Set Up
About 8 weeks
Distinctive Benefits of Licence
- Ease and speed of establishment
- Friendly regulatory environment
The Valsen Advantage
- End to end comprehensive service
- Speedy and efficient service
- Expert advice on structuring options
- Dedicated ongoing compliance support
- Extensive network pool of service providers