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Open a Vanuatu Bank Account

Introduction

The Republic of Vanuatu is a former English-French protectorate, made up of a stunning archipelago of 83 islands of volcanic origin surrounded by coral reefs, covering more than 12,000 sq. km of the South Pacific Ocean.As a country that is highly dependent on foreign investment for the sustenance of its economy, it has developed an offshore banking sector that caters to a range of international individuals and companies.We can help you open business and personal accounts in Vanuatu. Accounts are available for both Vanuatu and foreign companies and non-resident individuals:
Bank Account Key details
Currencies: EUR, GBP, AUD
Minimum deposit to open Bank Account: N/A
Good For: Saving accounts, Prepaid Cards, Term deposits, Online Mobile Banking, Corporate Credit Card, Trading Services, International Wire Transfer
Eligibility: Offshore companies
Personal Visit: Not Required
Money back guarantee if unsuccesfull bank account opening
We will assist with up to 3 different banks
Personal Bank Account fee: $276
Corporate Bank Account Fee: $895

Documents Required to open your Bank Account

Company documentation
  • Certificate of incorporation
  • Memorandum and articles of association.
  • Share certificates.
  • Certificate of incumbency, or certificate of good standing if the company is more than 12 months old.
  • Corporate structure identifying the ultimate beneficial owners.
  • Business license (if applicable for some industry like Financial Services).
  • Power of attorney (if applicable).
  • Declaration of trust (if applicable).
Personal documents of each director, shareholder, appointed secretary, authorized signatory and ultimate beneficial owner.
  • Proof of identity: copy of valid passport (The passport must have the passport holder’s signature and it must match the signature in the application form, certification required however we can support you on this).
  • Proof of residential address: original or certified copy of utility bill/bank statement dated within previous 3 months.
  • Proof of banking history: original or notarized copy of bank reference letter, dated within the previous 3 months, or 6 months’ statements (depending on the chosen bank).

     *Certification can be done by a bank, a attorney at law, a notary or public officer however we can assist you on this.

Business evidence (upon bank request)
  • Invoices, contracts, agreements of your existing company.
  • Service Provider Certification with your prosperous partners/ suppliers.
  • Any documents proving your qualifications in the business scope.

Country General Information

Banking
The banking hierarchy consists of the Reserve Bank, internationally recognized commercial banks, merchant banks, and an offshore banking sector.The commercial banks are allowed to conduct business with non-residents and they provide international services through a network of correspondents, consultants and branches.The Reserve Bank is the authority with the government overseeing the operations of commercial, merchant and Development bank. There is a Banking Supervision Department that enforces adequacy of liquidity, minimum capital requirement and risk management or loan classifications.
History
The first Europeans to visit the islands were a Spanish expedition, who arrived on the largest island in 1606. Since the Portuguese and Spanish monarchies had been unified under the king of Spain in 1580, following the vacancy of the Portuguese throne, which lasted for sixty years, until 1640, when the Portuguese monarchy was restored, the archipelago was claimed for Spain, as part of the colonial Spanish East Indies, and named it La Austrialia del Espíritu Santo.In the 1880s, France and the United Kingdom claimed parts of the archipelago, and in 1906, they agreed on a framework for jointly managing the archipelago as the New Hebrides through an Anglo–French condominium. An independence movement arose in the 1970s, and the Republic of Vanuatu was founded in 1980.
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