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Offshore news !

Vanuatu To Join The World’s Optical Fibre Internet Backbone

As part of the Government Vanuatu’s commitment to encourage the development of e-business and IT infra- structure, the Vanuatu Government has thrown it’s full support behind the current Joint Venture project between Interchange Limited, a Vanuatu local IT company and Alcatel-Lucent, the giant French telecommunications company to deploy Vanuatu’s first international submarine cable system linking Port Vila, the capital of Vanuatu, to Suva, Fiji.

Scheduled for completion in mid 2012, this new system will deliver faster, more efficient and cost-effective Internet connectivity to the pacific island nation, while removing the current dependence on satellite and strengthening Vanuatu’s competitive position as an e-business hub.

Set up a Vanuatu Captive Insurance Company

It normally takes one month to set up a Vanuatu Captive Insurance Company. But this depends on your providing the correct information.

Since all countries of the world are now sensitized against terrorist and criminal money laundering, the Government of Vanuatu, and Moores Rowland Vanuatu, must undertake a very complete due diligence review of all applicants. The information you submit will be protected by Vanuatu's strict Privacy Act, but the government needs to be able to verify that the applicants are who they say they are. They will, for example, contact the bank which issues the bankers reference and ask if they did prepare such a reference on behalf of the applicants. Your details will be cross checked with international law enforcement agencies such as Interpol, with insurance regulators of your country of residence etc during the application process. However they will not divulge any information about your plans or application.

In addition to the Application Forms, you will be required to to provide the following:

- Business Plan for at least 3 years ahead.
- Name of Principal/alternate Principal in charge of the day-to-day operations.
- Two References, C.Vs (or Resumè) and Qualifications of Principals.
- Police Clearance Report on all Principals.
- Statements of Assets and Liabilities of all Beneficial Owners.
- A copy of the last income tax report of each Principal.
- Notarized copies of Passports of Principals.

Please note that a Police Clearance Report will have to be issued by a law enforcement authority.  A Reference issued by a Municipal Judge will not be acceptable.

Contact us for the Application forms and our fees to incorporate an Offshore Captive Insurance company.