AML&CTF REGISTRATION

Reporting entities specified under section 2 of the AML&CTF Act are required to register their names and details with the FIU AML&CTF Register before commencement of business, providing a service or establishing a business relationship with a customer.


The prescribed registration form must be completed by the reporting entity and submitted to the FIU. Upon approval, the FIU will issue a confirmation of registration.

REPORTING ENTITY - DEFINITION

As required by the AML&CTF Act, persons carrying on the following businesses are reporting entities under the said Act:
  1. the Reserve Bank of Vanuatu;
  2. a licensee within the meaning of the Financial Institutions Act [Cap. 254];
  3. a licensee within the meaning of the International Banking Act [Cap. 280];
  4. a company licensed under the Vanuatu Interactive Gaming Act [Cap. 261];
  5. a person licensed under the Casino (Control) Act [Cap. 223];
  6. a person carrying on business under the Gaming (Control) Act [Cap. 172]] or the Lotteries Act [CAP 205];
  7. a foundation within the meaning of the Foundation Act No. 38 of 2009;
  8. an association within the meaning of the Charitable Associations (Incorporation) Act [CAP 140];
  9. a person carrying on electronic business under the E-Business Act [Cap. 264];
  10. a licensee within the meaning of the Company and Trust Services Provider Act No. 8 of 2010;
  11. a credit union registered under the Credit Union Act [CAP 256] or a cooperative society registered under the Co-operative Societies Act [CAP 152];
  12. a person carrying on a business:
    1. of administering or managing funds on behalf of an international company within the meaning of the International Companies Act [Cap. 222] or any other person; or
    2. as a trustee in respect of funds of other persons; or
    3. as a trustee or manager of a unit trust;
  13. a person carrying on a business of an insurer, an insurance intermediary, a securities dealer or a futures broker;
  14. a person (other than a person mentioned in paragraph (a), (b) or (c)) carrying on a business of:
    1. exchanging money or the value of money; or
    2. collecting, holding, exchanging or remitting funds or the value of money, or otherwise negotiating transfers of funds or the value of money, on behalf of other persons; or
    3. preparing payrolls on behalf of other persons in whole or in part from funds collected;
    4. delivering funds (including payrolls);
  15. a lawyer, notary or accountant when the lawyer, notary or accountant provides services to a client relating to all or any of the following:
    1. buying or selling of real estate or business entities;
    2. managing of money, securities or other assets;
    3. managing of bank, savings or securities accounts;
    4. organising of contributions for the creation, operation or management of companies;
    5. creating, operating or managing legal persons or arrangements;
  16. a person (whether or not the person is a trust or company service provider) providing all or any of the following services:
    1. forming or managing legal persons or legal arrangements;
    2. acting as (or arranging for another person to act as) a director or secretary of a company, a partner of a partnership, or a similar position in relation to other legal persons or legal arrangements;
    3. providing a registered office, a business address or accommodation, correspondence or an administrative address for a company, a partnership or any other legal person or arrangement;
    4. acting as (or arranging for another person to act as) a trustee of a trust;
    5. acting as (or arranging for another person to act as) a nominee shareholder for another person;
  17. a person carrying on a business of:
    1. dealing in bullion; or
    2. issuing, selling or redeeming traveller's cheques, money orders or similar instruments; or
    3. collecting, holding and delivering cash as part of a business or providing payroll services;
  18. a person carrying on the business of:
    1. lending, including consumer credit or mortgage credit, and financing of commercial transactions; or
    2. financial leasing; or
    3. issuing and managing means of payment (such as, credit cards, traveller's cheques and bankers' drafts); or
    4. issuing financial guarantees and commitments; or
    5. trading for the person's own account or for the account of customers in money market instruments (such as cheques, bills, certificates of deposit), foreign exchange, financial futures and options, exchange and interest rate instruments, commodity futures trading or transferable securities; or
    6. participating in securities issues and providing financial services relating to such issues; or
    7. money brokering; or
    8. mutual funds or, individual or collective portfolio management; or
    9. safekeeping and administration of cash or liquid securities; or
    10. trustee administrator or investment manager of a superannuation scheme, other than a scheme under which contributions are made by salary deductions and withdrawals are for limited purposes (for example, on retirement); or
    11. dealing in real estate or sale or hire of motor vehicles; or
    12. dealing in property (other than real estate) exceeding VT 1 million or such other amount as is prescribed;
  19. any other person prescribed by the regulations.