Offshore Shelf Company Bank Account

The Vanuatu based banks

Vanuatu banks include the National Bank of Vanuatu, and wholly owned subsidiaries of the largest banking networks in the Australia, New Zealand and South Pacific region.

Will the bank release information about the company account to anyone else?

Banks are subject to the usual bank/customer confidentiality practices. In addition, in Vanuatu, the International Companies Act (Section 125) contains secrecy provisions. These provisions mean that all parties, including banks, are not allowed to release information to third parties (including a bank's head office) without either the customer's permission or a valid Vanuatu court order.

What happens if there is no money in the account?

Please Note that the bank will keep the account open for ONE MONTH ONLY with a NIL balance. After this time, the account will be AUTOMATICALLY CLOSED.

This means that if you buy a shelf company with a bank account, the bank account will be closed unless you put some money in it or you instruct Moores Rowland to do so for you.

How do I make deposits?

The cheapest option is to mail a bank draft drawn on the Vanuatu bank with arrangements with a correspondent bank. There is no charge at the Vanuatu end for depositing the funds in your account. If the bank draft is drawn outside normal arrangements the bank charges an inward deposit fee.

Bank drafts or personal cheques can be mailed to Moores Rowland for on-forwarding to the bank. Each Bank Draft will incur an automatic bank clearance fee.

Personal Foreign Currency cheques and drafts are usually sent for collection to correspondent banks. This process can take up to 3 weeks before value is given to deposits.

You can also wire the funds by telegraphic transfer. Costs vary according to the bank you select.

When wiring funds by Telegraphic Transfer to Moores Rowland, you will need to advise your bank to remit the funds to: 

Bank : Westpac Banking Corporation
SWIFT Code : WPACVUVX
BSB Number : 039-033
Account Name : Moores Rowland
Account Number: 2000040531 USD Current Account.

How do I make withdrawals?

The best way to withdraw money from your account is by credit card (see below).

For larger withdrawals, if Moores Rowland are signatories to the bank account, it is a relatively simple procedure to fax or email your instructions to us. We will then instruct the Vanuatu bank. accordingly and follow up to be sure your needs are satisfied.

If Moores Rowland are not signatories to the bank account, you will need to write to the bank. giving your instructions. If you wish to fax your instructions to the bank, you will need to complete the bank’s Fax Indemnity Form.

PLEASE NOTE that if Moores Rowland are not signatories to your bank account, we will be unable to make enquiries on the activity of your account or facilitate withdrawals or transfers of funds at your request.

How do I get bank statements?

Moores Rowland receives company bank statement once a month (at month end). (If you require more frequent statements, please advise).

Moores Rowland will either immediately FAX, EMAIL or MAIL to bank statements to you depending on which method you select. In the absence of advice the Bank Statements will be held in your company file by Moores Rowland.

At least one bank in Vanuatu allows you to check your bank account status over the Internet.

Fees

Our fees for setting up a bank account is US$450.00

Site Map

http://www.mooresrowland.com