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Vanuatu: Offshore Business Sectors

Introduction

Although Vanuatu had encouraged offshore activity since the 1970s, the offshore sector began to grow more quickly after the passing of the International Companies Act in 1992, and the establishment of the Financial Services Commission in 1993.

The OECD designated Vanuatu as an uncooperative tax haven in April 2002. However, Vanuatu managed to stay off the Financial Action Task Force list of uncooperative countries on money laundering by introducing "know-your-customer" guidelines in mid-2002.

 

 

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