Vanuatu’s banking sector is modest but developing. The country has a number of commercial banks, both domestic and international. These banks provide a variety of banking services, including deposit taking, lending, foreign exchange, and payment processing.
Vanuatu is working to increase financial inclusion in rural and remote communities. The government and other stakeholders are supporting initiatives such as mobile banking, financial literacy programmes, and microfinance services to enhance access to financial services.
Vanuatu has established itself as a global financial centre, drawing offshore corporations, trusts, and financial institutions. To assist foreign financial transactions, the country provides favourable tax incentives, secrecy provisions, and a simple corporate registration process.
Vanuatu is an island country located in the South Pacific Ocean. The archipelago is located around 1,750 kilometres east of Australia, 500 kilometres north of New Caledonia, west of Fiji, and south of the Solomon Islands. Vanuatu is about 2.5 hours by plane north of Brisbane and 3.5 hours by plane from Sydney, Australia.
According to Worldometer’s elaboration of the most recent United Nations data, Vanuatu’s current population is 327,665 as of Sunday, May 14, 2023.
Bislama is the primary language spoken by the majority of Vanuatuans. In Vanuatu, nearly a hundred different languages from the Oceanic subgroup of the wider Austronesian family are spoken, although almost everyone also speaks Bislama as a second language.
The legal system in the Republic of Vanuatu is a mix of English common law, French civil law, and indigenous customary law.
|License:||International Bank License|
|Timeframe for Approval:||3 to 4 months|
|Regulator:||Reserve Bank of Vanuatu|
|Local Director:||At least 2 individual directors (at least 1 director must be a resident of Vanuatu)|
|Local Shareholder:||At least 1 shareholder (can also be a legal person, no nationality or residency restrictions)|
|Local Registered Office:||Required|
|Corporate Tax Rate:||0%|
|Currency:||Vanuatu Vatu (VUV)|
|Minimum Paid-up Capital:||500,000.00€|
|Tax Structure:||Zero (0%) Percent Tax on Offshore Profits|
(including but not limited to directors, shareholders and beneficial owners)