Vanuatu Offshore Financial Centre was established in 1971. This has enabled Vanuatu to build a sound financial infrastructure with a high degree of professional expertise available.

The professional services offered within Vanuatu are second to none within the Pacific Region. The providers of those services include banks, accounting firms, legal firms, trust companies and insurance companies and brokers. Most of the service providers are members of the Vanuatu Finance Centre Association. This institutional framework has led to a sustained platform for excellent financial dealings within Vanuatu for many years. It has been a particular buffer against the impact of change which has been apparent within Vanuatu economic and political life over the past decade.

The Finance Centre Association has 7 accounting firm members, 6 banks, 3 insurance members, 4 legal firms and 3 trust companies. All of which having principals and staff with international recognized qualifications. The members of Finance Centre Association are able to offer the following services:

• General advice on Investments
• Advice on Business licenses
• Advice on Immigration permits
• Advice on VIPA approvals
• Advise on local company incorporations and the establishment of businesses in Vanuatu.

Given that Vanuatu is the longest established offshore financial center in the Pacific the FCA members also provide extensive services to overseas clients who are not directly involved in the Vanuatu economy.

Vanuatu is very proud of the track record of its finance center for both offshore and onshore activities. The banking services that are provided give a wide range of choice to customers. Particularly so to direct investors in Vanuatu. New investors to Vanuatu can expect that they will receive prompt service and sound advice from the active participants in Vanuatu's financial and banking sectors.

For more information on the Financial Services in Vanuatu, contact any of the following advisors:

Banking Services

The banking systems are undergoing changes with increasing emphasis on service excellence. They mostly remain appropriately capitalised in accordance with international standards, which makes your investment processes straightforward and permissive. All the current banks provide a comprehensive range of banking facilities.

Reserve Bank of Vanuatu

The Reserve Bank oversees the proper functioning of the banking system in the country including the issue of the country's currency. The Bank also manages the external assets, in particular the foreign currency backing for the Vanuatu currency.

Financial Centre Association

The services offered by the members of the Vanuatu Financial Centre Association are provided through the following entities:

• Commercial banks
• Chartered accountants
• Legal firms
• Trust companies
• Insurance entities.

The members of the Vanuatu Financial Centre Association provide services to overseas clients who wish to make use of the offshore centre. This substantial base of professional expertise is also available to those persons and entities interested in directly investing in Vanuatu, giving them a greater choice of advisers than if Vanuatu were not an offshore financial centre.

Commercial Banks

Four commercial banks operate in Vanuatu:

• National Bank of Vanuatu
• ANZ Bank (Vanuatu) Ltd.
• Westpac Banking Corporation
• Equity Investment Bank

The commercial banks all have licenses to conduct business locally as well as with non-residents, corporations and financial institutions. The European Bank restricts its business to international clients and private banking.

International Aid Agencies

In addition to the earlier mentioned financial institutions, the Asian Development Bank (ADB), the Agence Française de Development (AFD) and the Centre for the Development of Industry (CDI) all maintain offices in Port Vila.

The Asian Development Bank

Major functions of the ADB's South Pacific Regional Mission include the administration of loans and technical assistance projects; policy, planning and management advice; providing economic and other inputs for the Bank's policy and project work; organisation of seminars and workshops to discuss issues; and promotion of private sector development.