Banking in Vanuatu

Vanuatu is the Pacific's premier offshore financial center, featuring :

• No personal or corporate income taxes
• No capital gains taxes
• No withholding taxes
• No estate or death duties
• No tax treaties
• No exchange controls

Vanuatu is a long-established offshore banking centre, with over 60 banks either incorporated or registered there.

Vanuatu is a founding member of the Offshore Banking Supervisors, a group of 17 jurisdictions which includes the leading offshore jurisdictions in the world.

While offshore banks with private owners can still be incorporated in Vanuatu, as distinct from offshoots of overseas licensed financial institutions, it is not easy as the ongoing reporting and compliance requirements are of international standards.

Vanuatu also offers private banking and offshore deposit acceptance. Vanuatu's extensive confidentiality laws are designed so your private transactions do not become public, but the bank handling your affairs will need full disclosure about yourself if they are going to act for you.

The reserve bank of Vanuatu

The Reserve Bank of Vanuatu is the Central Bank of the Republic of Vanuatu. Vanuatu achieved its political independence from Great Britain and France on July 30, 1980 five months after the birth of the new nation, Parliament approved the Central Bank Act, which marked the formal establishment of the Central Bank of Vanuatu.

Mission:

• Establish appropriate monetary conditions for price stability
• Establish financial conditions and adopt policies that will ensure an adequate level of foreign exchange reserves to meet external obligations
• Provide proactive and sound advice to Government
• Develop an internationally reputable financial system
• Inspire public confidence in the Reserve Bank
• Meet the currency needs of the public
• Disseminate timely and quality information
• Recruit, develop and retain a professional team dedicated to the pursuit of quality practices
• Ensure sound banking practices so as to provide the protection of depositors

Values

• Honesty, fairness and integrity
• Dedication – getting the job done on time and to the highest standard
• Respect and loyalty – for our colleagues
• Proactive – in addressing our customer needs
• Excellence – in what we do

Vanuatu registered domestic and international banks
(as of January 2009)

A. Vanuatu Domestic Banks

ANZ Bank (Vanuatu) Limited Westpac Banking Corporation
National Bank of Vanuatu
European Bank Limited
BRED (Vanuatu) Limited
Credit Corporation (Vanuatu) Ltd

B. Vanuatu International Banks

Asia Merchant Bank Limited
Garrison Bank Limited
Fubon Bank Limited
LMM & CIE, Banquiers Prive's Limited
Nautilus International Bank Limited
United Investment Bank Limited
Vianka Bank Limited
Financial Partners Bank

Source: Offshore Library & Reserve Bank of Vanuatu