Quick Answer

How to open a bank account in Vanuatu

There are 5 licensed banks operating in Vanuatu, which offer an online banking service each. Chequing and savings accounts, time deposits, debit cards and loans are available for clients.

Account maintenance costs from $2 per month.

All the banks in Vanuatu are under control of the Central Bank of Vanuatu, or the Reserve Bank of Vanuatu

By default, bank accounts in Vanuatu are opened in vatu, the national currency of Vanuatu. Vatu is referred to as Vt or VUV and has no subdivisions. In some banks one can open foreign currency accounts in US dollars, euros and Australian dollars.

At the beginning of 2022, $1 = Vt 112,425, therefore 1,000 vatu is nearly 9 US dollars.

The banks of Vanuatu

National Bank of Vanuatu Wanfuteng Bank Limited Bred Bank Vanuatu, subsidiary of a French bank BSP Financial Group Limited Vanuatu, subsidiary of a Papua New Guinearnbank ANZ bank Vanuatu, or The Australia and New Zealand Banking Group Limited, — subsidiary of an Australian and New Zealand banking group

All the banks offer similar services: in-branch service, cash withdrawals from ATMs in Vanuatu, access to internet banking free of charge. In addition, some banks have also designed mobile applications for customers.

International transfers are available at every bank. The commission fee is Vt 1,000—1,500 for an incoming transfer and Vt 2,500—15,000 for an outgoing one.

Necessary documents for opening a bank account in Vanuatu 

Individuals provide:

  1. A completed application form for opening an account.
  2. Valid identification e.g. passport, drivers license, etc. Some banks demand two such documents.
  3. Certificate of income and origin of funds.
  4. Contact information: residential address and phone number.
  5. Letter of recommendation from another bank upon request.

Companies provide:

  1. The company constitution.
  2. The certificate of incorporation.
  3. The current business license.
  4. Registered trading name.
  5. Minutes of a meeting of the company directors authorising the account to be opened with the bank.
  6. Contact information: address of principal place of business, address of registered office and name and address of registered agent if applicable.
  7. A declaration of who the beneficial owners of the company are. These individuals must then also be identified as per the bank’s requirements for identifying individuals.
  8. A completed application for opening an account and Customer Due Diligence form.

The procedure of opening a bank account in Vanuatu

It is necessary to visit one of the branches to open an account in most banks of Vanuatu. Only the ANZ Vanuatu bank provides the opportunity to open an account remotely — by sending notarized documents to the bank by mail.

Banks follow different policies regarding cooperation with foreign clients. The National Bank of Vanuatu and The Bred Bank Vanuatu are likely to open accounts for citizens of other countries, while other banks may refuse.

Comparison of terms of service in Vanuatu banks

BankNational Bank of Vanuatu, or NBVBred Bank VanuatuWanfuteng Bank LimitedBSP Vanuatu
Internet bankingYesYesYesYes
Mobile bankingYes, but only for AndroidYes, for iOS and AndroidNoYes, for iOS and Android
Maintenance costVt 500 per month
for the chequing account of individuals

Vt 750 per month
for the chequing account of companies

Vt 350 per month
(Vt 4,200 per year)
for debit cards
Vt 400 per month
for the chequing account of individuals

Vt 400 per month
for the chequing account of companies

Vt 6,000 per year
(Vt 500 per month)
for debit cards

Vt 350 per month
for savings account

Vt 800 per month
for foreign currency account
Vt 250 per month
for the chequing account of individuals

Vt 250 per month
for the chequing account of companies
Vt 425 per month
for the chequing account of individuals
Minimum amount for opening an accountVt 50,000 for the chequing account of individuals

Vt 50,000 for the chequing account of companies

Vt 1,000+
for savings account

Vt 50,000
for time deposit

Vt 1,000
for debit cards
Vt 500
for the chequing account of individuals

Vt 500
for the chequing account of companies

Vt 500
for savings account




Vt 500
for foreign currency account
Vt 5,000 for the chequing account of individuals

Vt 5,000 for the chequing account of companies

Vt 5,000
for savings account

Vt 100,000
for time deposit
Vt 100
for the chequing account of individuals

Vt 100,000 for the chequing account of companies

Vt 100
for savings account
Commission feesVt 1,000
for incoming international transfer in vatu

Vt 1,500
for incoming international transfer in foreign currency

Vt 3,000
for outgoing international transfer

Vt 1000
for transfer to an account in another bank

Vt 30
for cash withdrawals from ATMs of NBV


Vt 5000
for foreign currency account opening
Vt 2,500
for outgoing international transfer
















Vt 300 + 2,5%
for cash withdrawals from ATMs of other banks, both in Vanuatu and abroad
Vt 1,000
for incoming international transfer in vatu

Vt 1,500
for incoming international transfer in foreign currency

Vt 3,000 to 15,000
for outgoing international transfer

Vt 800
for transfer to an account in another Vanuatu bank
Vt 1,500
for international transfer
















Vt 100
for cash withdrawals from ATMs of other banks in Vanuatu

Vt 500
for cash withdrawals from ATMs of other banks abroad

How to get Vanuatu citizenship

In Vanuatu, there is a government program under which wealthy people can get a passport of the country by investments from $130,000. Applicants make a non-refundable contribution to the Vanuatu National Development Fund, which cannot be returned over time or bring any revenue.

Alongside the investor, their family members can also obtain citizenship. A spouse, children under 25 years old and parents over 50 years old are allowed to be included in the application. No one is required to take language or culture proficiency exams.

The entire procedure takes place remotely, applicants do not need to visit Vanuatu. To take the oath of allegiance, investors can invite an employee of the migration service to a place convenient for them.

The Vanuatu passport opens up new possibilities. Vanuatu citizens travel to the UK without visas and receive a U.S. tourist visa for a 5 year period. Entrepreneurs can transfer business to the country and enjoy tax incentives. For a period of 20 years companies are obliged to pay only an annual fee of $300 instead of the tax on profit.

Individual cost calculation of the Vanuatu citizenship

Frequently asked questions

How to open a bank account in Vanuatu?

To open a bank account in Vanuatu, customers firstly need to download an application form from the official website of the bank and fill it out. Then they collect the required papers and visit one of the bank branches where they hand them in. The bank employees will check the applicant for reliability and activate the account.   One of the banks, namely the ANZ Vanuatu, accepts documents for opening an account not only in the branch, but also by mail.

What documents are required to open a bank account in Vanuatu?

To open a bank account in Vanuatu, individuals provide a passport and the certificate of income and origin of funds. Companies provide their constitution, certificate of incorporation, business license and declare beneficial owners. Additional documents may be required.

Is it necessary to come to Vanuatu to open a bank account?

In many Vanuatu banks, an account can only be opened in person, by visiting a bank branch. However, there is a bank which allows applicants to send notarized documents by mail. This is the ANZ Vanuatu.

How much does account maintenance cost in Vanuatu?

To maintain chequing accounts, customers pay 250 to 800 vatu per month, which is approximately 2 to 8 US dollars.

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How to open a bank account in Vanuatu