General Overview.  Vanuatu started to experience a rapid growth as an offshore financial centre at the beginning of 90th of the XX century, when a Financial Services Commission and International Companies Act 1992 were introduced there. The jurisdiction followed recommendations of the OECD and now adheres to international standards of offshore financial services provision.

Banking Sector. It is necessary to obtain a banking license for provision of banking services. Domestic banks usually take a form of a limited company, while offshore banks are usually exempt companies. A Banking License allows providing the whole range of banking services and a word “Bank” may be included into the company’s name, while a Financial Institution License allows providing almost the whole range of banking services. Vanuatu is one of the leading offshore banking centres.

Trust Management.  Companies which wish to provide trustee services must obtain a trustee license from the Financial Services Commission. A trust company is required to pay up a minimum capital and to have a main office in the jurisdiction.

Insurance Companies. Domestic and offshore insurance business may be conducted from Vanuatu. In order to do so, it is necessary to obtain an insurance license by submitting a number of requested documents to the Financial Services Commission, demonstrate liquidity capability and pay license fees on the annual basis.

Online Gambling. It is possible to manage an online gambling business from Vanuatu. The local authorities pay careful attention to issuing online gambling licenses, and the activities of such offshore gambling license holders are constantly monitored. Vanuatu is a cost effective offshore jurisdiction for online gaming business purposes.

Shipping Registry. Different types of vessels may be registered in Vanuatu, but must not be older than 20 years of age. It is necessary to register a ship on a Vanuatu citizen or a Vanuatu company. Fees are highly competitive, and Vanuatu offers efficient and cost-effective procedures for vessels registration in the jurisdiction.