Since it gained independence in 1980, Vanuatu has adopted an independent and regulated banking system. There is no exchange control and the practice of bank and trade secrecy is upheld. Governed by national banking legislation and supervised by the Reserve Bank of Vanuatu, the banks rigourously comply with international requirements.
The Banking Sector
An offshore account to manage your estate, safeguard your future and also your family's future.Opening an offshore account entitles you to confidentiality and access to personalized private management services.
Appropriate investments, bluechip or innovative, are likely to be suggested in order to ensure the growth of clients’ funds.
Similarly, option of succession planning, both simple and effective, are also on offer.
What makes Vanuatu attractive
There is no direct taxation in Vanuatu. Proximity, contractual flexibility, bilingualism, the knowhow and diversity of the professionals (banks, lawyers, accountants...) are among the many reasons that makes Vanuatu attractive to investors.
If you are looking to invest in Vanuatu, do not hesitate to talk to the local banks - ANZ, Bread Bank, Westpac, National Bank of Vanuatu (NBV) - they are keen to assist you with your project!
Whether you are indicidual or a corporation, there is a broad range of banking services available: personal or business loans, property loans, on-line banking, deposit accounts, foreign currency accounts, overdrafts facilities..
Vanuatu is no longer black-listed by the OECD. Those drastic measures have led to an improvement of offshore banking, more professional, better structured, with a limited number of offshore banks in the country.
Establishing the appropriate corporate structure (international company) and an offshore account could turn out to be a worthwhile solution, both personally and professionally, especially in respect of businesses that are not really tied to any particular territory (import/export, franchise, provision of intellectual services...).
To open an offshore bank account is to open a bank account beyond national borders. This sort of account is used mainly for the purpose of managing and/or investing one’s assets because of higher interest rates and the diversity of investments options. Preference is often given to a multi-currency management structure. Cost are generally lower.
However, for many people, the key attraction is the requirement for and compliance with secrecy provisions as offshore banks follow very strict rules in terms of bank secrecy.
Lastly, because of their particular status, such institutions must rely on banking partners and correspondents operating elsewhere, not in Vanuatu.