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General Information About Vanuatu
Vanuatu is a land of contrasts, where the 21st Century melds with the 19th Century. We are known as the Isles of Contrast and the Paradise Islands. Both are true. Located in the South Pacific, Vanuatu has a sub-tropical climate and an easy lifestyle - tourism plays an important part in the local economy.
Population: 196,178
Political Structure: The Republic of Vanuatu is a parliamentary democracy. Independence was attained in 1980 after some 74 years of joint rule by Britain and France. The Constitution provides for executive and legislative arms of government, and the judiciary. The President is Vanuatu's Head of State. The judiciary consists of the Supreme Court with a Chief Justice and a Magistrates Court
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- Infrastructure and Economy: The economy is based primarily on subsistence or small-scale agriculture which provides a living for 65% of the population. Fishing, offshore financial services, and tourism, with about 50,000 visitors in 1997, are other mainstays of the economy. Mineral deposits are negligible; the country has no known petroleum deposits. A small light industry sector caters to the local market. Tax revenues come mainly from import duties. Economic development is hindered by dependence on relatively few commodity exports, vulnerability to natural disasters, and long distances from main markets and between constituent islands.
- Language: Three official languages: English, French, pidgin (known as Bislama or Bichelama), plus more than 100 local languages
- Currency: Vatu (VUV)
- Exchange Control: None
- Type Of Law: Unified system being created from former dual French and British systems
Our Investment Call Accounts offer a flexible investment solution in all major currencies with relatively low minimum balance requirements, as well as worldwide easy access of funds with a linked International Access Card for accounts denominated in USD, AUD or NZD.
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*Please note that there is an account opening fee of US$50 to be charged by the bank, our service fee of US$199 is not inclusive of the aforesaid account opening fees.
Documents Required by the Bank:
Please click here for a list of documents required by the Bank for your application of this bank account.
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