Personal accounts: Vanuatu

Updated 6 October 2026

An honest assessment before work starts, the quote is fixed in writing.

A personal account in Vanuatu is easiest for island residents: with a residence or work permit the bank sees a clear link to the country. Non-residents can also be accepted, but usually only after a visit, with a reference letter from their own bank and proof of source of funds. The National Bank of Vanuatu is state-owned; other banks on the islands are branches of Australian, French and Pacific banks. The currency is the vatu, about 120 per US dollar.

There is no tax on income, interest or capital gains in Vanuatu, but Vanuatu exchanges account information with foreign tax authorities: the bank will ask for your tax residence and report the account there. A Vanuatu passport obtained through investment does not guarantee access to banks: banks look at where you live and where the money comes from, not at citizenship. Since February 2023 Vanuatu nationals again need a Schengen visa.

Documents

• Passport and a second ID.
• Proof of address; for residents, a residence or work permit.
• A reference letter from a bank where you already hold an account.
• Tax residence and source of funds: contracts, statements, property sale documents.

How opening works

1. We agree the profile and document pack with the bank in advance.
2. An in-person visit to Port Vila for the meeting and signing.
3. The bank's decision usually takes a few days to a few weeks, longer for non-residents.
4. Card and online banking after the first deposit.

Who really needs an account in Vanuatu

• People living on the islands: rent, utilities, salary, local taxes.
• Owners of property or a business in Vanuatu: rental income, business licence, VAT.
• People preparing a move and a residence permit: the bank account may be needed to show funds.

If you have no link to the islands and simply want an account in a stable zero-tax country, another jurisdiction is usually wiser: transfers and correspondent bank checks are easier there.

Good to know

• There are few banks on the islands, and transfers in exotic currencies or to small banks can take several days.
• In 2026 Vanuatu is on the EU list of non-cooperative tax jurisdictions, so transfers to European banks are checked more closely.
• It is sensible to keep main savings in a country with a developed banking system and use the Vanuatu account for life on the islands.

Common reasons for refusal

• No link to Vanuatu: no residence, business or property.
• No reference letter or proof of source of funds.
• Investment citizenship without an actual move.
• Links to sanctioned countries and persons.

What we do

We assess whether you need an account in Vanuatu at all, agree the profile with the bank, prepare the pack, arrange the visit and support you until the first transfer. If your goal is savings or worldwide payments, we suggest a bank elsewhere. We quote after a consultation.

What we do

• Personal account - opening assistance

See also

Company formation · Business account · Investment property · All country programs

FAQ