Personal Account Opening With 1000 EUR Minimum Deposit In A Non Resident Client Only Bank In Vanuatu With Well Organised And Swift Account Opening Process.
The international banking professionals at the Offshore Pro Group offer you the ability to open a personal account in Vanuatu with a bank that offers the following benefits:
- Dedicated non resident client only bank – this is a major benefit and is very rare. It would be almost impossible for you to find a bank such as this by yourself.
- Very low minimum deposit of only 1000 EUR
- Very simplified and brief Know Your Customer (KYC) procedure which leads to faster account opening times
- Lower fees when compared to other offshore / foreign private accounts
- Prepaid MasterCard (being implemented)
- FOREX trading platform (being implemented)
Contact us via email [email protected] for the right professional advice about opening a private account with this bank in Vanuatu. It is highly recommended that you initially go through the steps on this page Free Professional Advice On Choosing A Foreign Or Offshore Bank Account.
Vanuatu International Banking
Vanuatu is a small series of islands in the South Pacific Ocean which are located east of Australia and North East of New Caledonia. It is a well known jurisdiction for offshore banking and the remote opening of foreign bank accounts and the provision of capital protection.
Vanuatu is fully compliant with international banking regulations. All financial institutions in Vanuatu are compliant with the Anti Money Laundering and Counter Terrorism Financing Act provisions. The Offshore Pro Group offers remote account opening of a private bank account in Vanuatu for private clients who are looking to protect and grow their capital.
All banks in Vanuatu have to conform to a minimal capital requirement. The Reserve Bank of Vanuatu has introduced a capital adequacy framework that complies with the international standards set by the Basel Committee on Banking Supervision. This means that the Reserve Bank can instruct a bank to maintain a higher capital ratio if this is considered necessary. It will consider the risk strategies and the profile of all banks in the country.
The maximum exposure limit to a single client or group of related clients is 25% of capital in relation to exposures to non government and non bank counterparties. There are also restrictions on shareholdings, where the Reserve Bank has to give its consent for the bank to have aggregate shareholdings in non financial business above 25% of capital.
Banks in Vanuatu are also required to maintain a minimum proportion of their balance sheet in liquid assets to ensure liquidity adequacy. All offshore banks are expected to have liquidity management procedures in place to ensure that they can meet the demands of their clients.
The Bank In Vanuatu
This international private bank was founded and licensed in Vanuatu in 2013. It is licensed to conduct international business compliant with the provisions of the International Banking Act, and it is regulated by the Reserve Bank of Vanuatu and is managed by the Vanuatu Financial Intelligence Unit.
This bank is owned by a holding company that operates a three pronged strategy of banking, property development and insurance. The senior management team at the bank are very experienced and well respected professionals in the banking industry and financial services sector.
The bank does not provide services to residents of Vanuatu and this is a major benefit to you considering that most banks have a very small non resident client department. This means the bank is entirely dedicated to the servicing of non resident accounts including client support and a legal compliance support team that are dedicated to protecting non resident accounts.
It is very rare in modern international banking that a bank dedicates itself to non residents. Also with the geographic location and the economic stability of the country, opening a private account with this bank provides the right legal and tax conditions for the protection of your capital.
The bank has the advantages of a low minimum deposit requirement – just 1000 Euros. The facilities for private as well as commercial transactions, it also has strong relationships with correspondent accounts.
The bank operates a simplified Know Your Client (KYC) procedure to assist in easier private account opening. It is one of the briefest and most logical (KYC) processes on the market and makes account opening easier and faster.
Private Banking Services Offered
The bank offers private multi currency accounts in US Dollars, Euros and the British Pound. These accounts fully satisfy the IAS/IFRS standards. When you open a private account you will have access to their secure online banking service which will allow you to fully manage your account. You will be able to receive online support from the bank 24 hours a day from Sundays to Fridays.
International wire transfers are possible with a private account, and there is also the opportunity to make term deposits. The bank also provides a wealth management service, and their mutual funds have never suffered from annual losses. The recommended hedge fund was ranked second for the most consistently performing fund from 2010 – 2015.
The bank specializes in wealth management and asset management and is able to offer customized investment solutions. It always aims to provide a totally personalized service and accommodate the specific aims of each client.
In the pipeline are prepaid MasterCard services and also a Foreign Exchange (FOREX) trading platform. The bank offers multilingual language support to its private banking clients.
The minimum deposit to open a private bank account with this bank is 1000 Euros. This compares very favorably with the minimum deposits required by other offshore banks to open foreign bank accounts.
The commission fees that are levied by this bank can change at any time. It is essential that you check the current commissions with your professional Offshore Pro Group international banking consultant. Your consultant will provide advice and guidance so that you can achieve the most preferential rates.
The Process To Be Followed To Open An Account At This Bank
In order to be successful in opening a foreign private account with this bank in Vanuatu it is important that you precisely follow this step by step process:
- Contact us via email [email protected] for totally professional advice about opening a private account with this bank in Vanuatu. It is highly recommended that you initially go through the steps on this page Free Professional Advice On Choosing A Foreign Or Offshore Bank Account.
It is vital that you fully understand the risks of non resident banking in today’s climate and strongly consider opening a second foreign bank account.
- We will provide total professional assistance to you in opening a private account at this Vanuatu bank, and for this you will need to pay a fee of 1999 EUR. You can pay by credit card, bank transfer, Money Gram, Western Union, Web Money or even Bitcoin.
- The bank will require all proposed account signatories to supply comprehensive documentaion to open a private account. This will include:
- Full name, date of birth and occupation in a text document
- A personalized CV
- A copy of a Government issued Identity Card document which contains a photograph and signature. The relevant passport page of a current passport is acceptable. All copies must be a high quality color scan at a minimum of 300 dpi and 1.6MB
- Verification of residential address by means of a utility bill which contains the private address of the individual and is not more than 90 days old.
Once you have submitted all of the required documentation we will check them thoroughly and pass them on to the bank as quickly as possible. You will need to wait for 10 business days for your Vanuatu private foreign account to be opened at the bank.
To begin the process of opening a private account at this Vanuatu bank, please contact us by email [email protected]