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RECENT UPDATES !!!

COVID-19 VACCINES RECEIVED

A total of 270 PEOPLE have had their first dose of the Astrazeneca COVID-19 vaccine at June 2 launching of the vaccination rollout, with the Ministry of Health (MoH) describing the event as an historical moment.

The first person to receive the Astrazeneca vaccine was the Leader of Opposition, Ralph Regenvanu. The second person was Chief Justice Vincent Lunabek, followed by the Minister of Health, Silas Bule and including the Mayor of Port Vila, Eric Festa.

There will be an arrival of another 20,000 doses of Sinopharm vaccine from China this weekend.

Securities Dealers


Vanuatu has a very user friendly Act, the Prevention of Frauds Act which allows an individual or a company to apply for a Financial Dealers License.

FINANCIAL DEALERS LICENSE


Vanuatu has a very user friendly Act, the Prevention of Frauds Act which allows an individual or a company to apply for a Financial Dealers License.

Moores Rowland Vanuatu assists its clients to set up a Corporate Structure to obtain Financial Dealers License delivered by the Vanuatu Financial Services Commission (VFSC).


In order to apply for a Financial Dealers License, the Company should register its business with the Vanuatu Financial Intelligence Unit (VFIU).  Once registration done, applications documents can be lodged with the VFSC to obtain a Financial Dealers License.


DEALING IN SECURITIES


Dealing in Securities means making or offering to make an agreement with another person, or inducing or attempting to induce another person to enter into or offer to enter into an agreement to acquire, dispose of, subscribe for or underwrite securities.


In Financial Services, a broker-dealer is a natural person, Company or other organisation that engages in the business of trading securities for its own account or on behalf of its customers.


DEFINITION IN SECURITIES


The Financial Dealers Licence will be issued as :-


(1)    Class A Principal’s Licence:-

Carry on or purport to carry on the business of dealing in any of the following securities, unless issued with a Class A Principal Licence:-

(a)    Debenture stocks; or

(b)    Loan stock, bonds; or

(c)     Certificate of deposit; or

(d)    Proceeds of foreign exchange


(2)    Class B Principal’s License will be authorised to carry on business dealing in Futures and Options


(3)    Class C Principal’s License will be authorised to carry on business dealing in:-

(a)   Shares in share Capital of a Corporation

(b)   Proceeds of precious metals, or

(c)   Proceeds of Commodities; or

(d)   A right despite whether or not conferred by warrant, subscribe for shares or debt securities or

(e)   A right under depository receipt

(f)    An option to acquire or dispose of any security falling within any other provision of the act; or

(g)   A right under a contract for the acquisition of securities


Moores Rowland Vanuatu has acted on behalf of clients on may occasions to apply for such licenses successfully.


We can also help you in the following matters in relation to:-

(a)    Incorporation of International Companies

(b)    Application for Financial Dealers Licence

(c)     Registration of business with the Vanuatu Financial Intelligence Unit

(d)    Assisting in drafting of Anti-Money Laundering & Counter Terrorism Financing Compliance Manual.

(e)    Liasing with the Vanuatu Financial Services Commission.