Vanuatu's official fees, from company registration to visas, are given in "vatu" (VUV or VT). This article explains where the vatu comes from, which institution manages it and how to convert amounts into dollars or euros at the official rate. The information comes from the official website of the Reserve Bank of Vanuatu, checked on 24 October 2026.
History in one table
| Date | Event, according to the Reserve Bank of Vanuatu |
|---|---|
| 30 July 1980 | Vanuatu's independence from Great Britain and France |
| Five months after independence | Parliament approves the "Central Bank Act", formally establishing the "Central Bank of Vanuatu" |
| 16 December 1980 | the Minister of Finance announces a monetary reform |
| 1 January 1981 | the Bank begins operations; the New Hebrides franc is renamed the "vatu" |
| 22 March 1982 | the first vatu notes are issued |
| 1 April 1983 | New Hebrides franc notes and Australian currency cease to be legal tender |
| August 1985 | the Port Vila clearing house opens at the Bank |
| End of 1987 | the Bank takes over all the activities of a central bank |
| May 1989 | renamed the "Reserve Bank of Vanuatu", with greater authority over the supervision of banks |
The Bank says the name "vatu" comes from the local word for "stone". The Government of Vanuatu holds 100 percent of the Bank's shares.
Bank of the banks and of the Government
According to the same history page, the Bank opened vatu accounts for the commercial banks, gave them advance facilities and became their "lender of last resort". Since 1985 it has also held the Government's accounts, and advances to the Government are possible only within the limits set by law. Since 1 November 1999, cheque clearing has rotated among the banks.
Statutory duties
The Bank quotes its duties from Section 3 of the "Reserve Bank of Vanuatu Act [CAP 125] of 1980":
- to regulate the issue, supply, availability and international exchange of money;
- to supervise and regulate banking business and the extension of credit;
- to advise the Government on banking and monetary matters;
- to promote monetary stability and a sound financial structure;
- to foster financial conditions conducive to the balanced development of the economy;
- to regulate and supervise domestic and international (offshore) banks.
The Bank's financial stability section says its supervision is not limited to commercial and international banks and also covers insurance companies and intermediaries. Under "Prudential Framework", the website publishes the application forms for domestic and international banking licences and the prudential guidelines for both.
The new Act and the policy framework
The Bank now runs a "Monetary and Prudential Policy Framework" under the "Reserve Bank Act No. 37 of 2025". The objectives the Bank gives for this framework:
| Objective | The Bank's description |
|---|---|
| Domestic price stability | a main objective |
| Financial system stability | a main objective |
| Supporting the Government's economic policies | without compromising the two above |
The Bank keeps its previous framework as an "archived reference". Under that framework, the Bank considered annual inflation of 0 to 4 percent comfortable and aimed for foreign reserves above four months of import cover. These figures belong to the previous framework; for the new one, see the Bank's own document.
Official exchange rates
The Bank's home page publishes exchange rates every day. Unlike the Eastern Caribbean dollar, which has a fixed rate to the US dollar, these rates change from day to day. The rates published for 23 October 2026:
| Currency | Vatu per unit |
|---|---|
| US dollar | 117.58 |
| Euro | 131.90 |
| Pound sterling | 157.47 |
| Australian dollar | 82.51 |
| New Zealand dollar | 66.79 |
| Japanese yen | 0.7499 |
Example: Vanuatu government fees in US dollars
At the rate of 23 October 2026, that is VT 117.58 per dollar, some of the Vanuatu Trade Portal's estimated fees become:
| Fee | Vatu | US dollars, approximately |
|---|---|---|
| Online business registration | 30,000 | 255 |
| Foreign investment approval certificate application | 120,000 | 1,021 |
| Business licence for one activity | 18,000 | 153 |
| One-year residence visa, adult | 57,600 | 490 |
| Visitor visa | 3,600 | 31 |
This conversion is only an estimate. Banks have their own rates and fees for buying and selling currency, and the rate on the day of payment may differ. Royal Golden's contract amounts are set in US dollars and do not depend on the vatu rate.
Virtual assets
Virtual asset businesses in Vanuatu are regulated not by the Reserve Bank but by the Vanuatu Financial Services Commission. According to the Commission, the governing law is the "Virtual Assets Services Providers Act No. 3 of 2025", and no company may provide virtual asset services without a licence that allows them. The Commission has published the licence application forms and guidelines.
Before any banking
- Check the name of any bank or financial institution against the official sources of the Reserve Bank and the Financial Services Commission.
- To open an account, prepare customer due diligence and source of funds documents; citizenship does not remove these checks.
- Be clear about your tax residence; see the article "Banks, the CRS and a second passport".
- Read the day's rate on the Bank's official page before any large transfer.
This article is general information and not financial or investment advice.
Sources
- Reserve Bank of Vanuatu, History — https://www.rbv.gov.vu/index.php/en/about/our-history (checked on 24 October 2026)
- Reserve Bank of Vanuatu, Statutory Responsibilities — https://www.rbv.gov.vu/index.php/en/about/our-role (checked on 24 October 2026)
- Reserve Bank of Vanuatu, Monetary and Prudential Policy Framework, Overview — https://www.rbv.gov.vu/index.php/en/monetary-policy/revised-monetary-and-prudential-policy-framework/overview (checked on 24 October 2026)
- Reserve Bank of Vanuatu, About Monetary Policy (previous framework, archived) — https://www.rbv.gov.vu/index.php/en/monetary-policy/previous-monetary-policy-framework-archived-reference/about-monetary-policy (checked on 24 October 2026)
- Reserve Bank of Vanuatu, About Financial Stability — https://www.rbv.gov.vu/index.php/en/financial-stability/about-financial-stability (checked on 24 October 2026)
- Reserve Bank of Vanuatu, home page and exchange rates of 23 October 2026 — https://www.rbv.gov.vu/index.php/en/ (checked on 24 October 2026)
- Vanuatu Financial Services Commission, Virtual Asset Service Provider — https://www.vfsc.vu/virtual-asset-service-provider/ (checked on 24 October 2026)
- Vanuatu Trade Portal, business registration and visa procedures — https://tradeportal.gov.vu/?l=en (checked on 24 October 2026)