Pacific Private Bank
Corporate Account Opening in Vanuatu
Based in Vanuatu, Pacific Private Bank is a well-known international financial center in Asia for banking and tax structuring. It offers a full range of banking services for its international clientele.
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FACTS & INFO
REQUIREMENTS FOR CORPORATE ACCOUNT SET UP WITH PACIFIC PRIVATE BANK:
- Personal presence in the bank is not required
- Account opening fee of €800
- Initial deposit of €1,000
- The account will be activated within 10-14 business days (upon receipt by the bank of all duly completed forms and relevant information)
For the Company:
A set of legalized company documents consisting of:
- Certificate of incorporation
- Memorandum and articles of association
- Documents confirming the appointment of company directors and secretary (if any)
- Document confirming the location of the registered office
- Share certificate(s)
- Certificate of good standing if the company is more than 12 months old
- Copy of the corporate structure, identifying the ultimate beneficial owner(s)
- Valid license (if applicable)
- Description of business
For each director, shareholder, secretary, authorised signatory and ultimate beneficial owner:
- Notarized copy of a valid passport. The passport must be signed and the signature must match the signature in the application form. The photograph must be clear and of good quality.
- Original or notarized copy of a utility bill / bank statement dated within 3 months as verification of residential address.
- Original or notarized copy of a bank reference letter, dated within 3 months.
- Power of attorney (where applicable).
- Personal CV.
For each corporate officer (where the company directors or shareholders are legal entities), please provide:
A set of legalised company documents consisting of:
- Copies of constitutional documents (certificate of incorporation, articles, etc.).
- Copy of the corporate register (which shall include register of shareholders, directors and secretary).
- Copy of the corporate structure.
- Certificate of good standing.
Documents that are not in English must be accompanied by a certified translation.
IMPORTANT NOTE: LICENSABLE BUSINESS ACTIVITIES
If you conduct any activity without the required license or authorisation granted by a relevant authority in any jurisdiction, Starting Business will not be able to assist you with the company formation or bank account opening related to such unlicensed activity.
Licensable activities include, but are not limited to: provision of financial services involving trading/brokerage in foreign exchange, financial and commodity-based derivative instruments and other securities; offering investment advice to public; insurance and banking; operation and administration of collective investment schemes and mutual funds; payment processing services; money exchange, money transmission or money brokering; asset management; safe custody services; gaming, gambling and lotteries.
Please contact us if you need assistance in the licensing of your financial, Forex brokerage or gambling company.
Shipping of corporate documents or banking kits to your destination requires an extra charge and will be automatically added to your order during checkout. Shipping costs for international courier services are set automatically depending on geographic zones.
About the Bank
ABOUT THE BANK
Pacific Private Bank was founded in 1997 in Vanuatu as a full-service bank supervised by Vanuatu's central bank. The bank focuses on providing wealth and asset management, and tailored investment solutions.
In 2015 the bank was acquired by Enercom Capital, an investment company owned by Lithuanian businessman Vilius Kavaliauskas. This acquisition coincided with an important capital injection effected by the new owner, shoring up Pacific Private Bank’s core capital well above international standards set out by the Basel Committee on Banking Supervision and local regulatory requirements set out by the Reserve Bank of Vanuatu.
Pacific Private Bank meets the requirements of the US Patriot Act regulations, FATCA, and Anti-Money Laundering (AML) regulations.
WHAT PACIFIC PRIVATE BANK OFFERS:
- Corporate and personal accounts in USD, EUR, AUD, NZD, SGD, GBP, CAD and RUB.
- Online and mobile banking.
- International wire transfers.
- Prepaid debit SpectroCard.
- Savings and term deposits
- Multilingual customer support.
- Private banking.
- Trading services.
- Account allocation within 10 to 14 business days upon receipt of the original documents by the bank.
BANK TARIFFS AND CHARGES
The Pacific Private Bank can be considered as a medium-cost bank with respect to incoming/outgoing payments and account maintenance. The cost of an account opening is €500, and monthly maintenance charges per account are €250. Inward remittances are free of charge, and for outgoing international transfer the commission will be 0.1% (minimum €75; maximum €500) of the payment amount. Wealth management and asset management account opening and maintenance are free of charge.
The monthly maintenance of a prepaid debit SpectroCard is €12.50 with card load fees of 1.5 % on all funds deposited to the card. The cash withdrawal fee is 2% (minimum €3; maximum €7.50). A card opening fee of €150 will be required.
PLEASE NOTE: Bank tariffs may be changed anytime at the sole discretion of the bank. Therefore, we suggest that you contact us or visit the bank’s website for updated details on specific fees and charges.
The Starting Business professional service fee for the assistance of bank account opening does not include any bank charges and commissions, account maintenance fees, transaction fees, initial deposit, or minimum balance.