These companies have to respect and comply with every laws and regulations of the countries in which they perform activities.
Below are the things need to make a note of for new SDL applications,
The increase of the bond which has been decided by the regulator. The Bond amounts now to VATU 5,000,000 (50.000 USD) for every new application and has now to be paid to the Vanuatu Financial Services Commission and not to the Supreme Court of Vanuatu anymore.
The insertion of the KYC requirements which includes the filing of at least the following documents (non exhaustive list):
Details of the source of the funds used to pay the capital (new requirement)
Notarized Police clearance and passport of the applicant
Details of the business plan
Details on effective beneficial owner
Main Changes: The Security Deposit has been increased to VT5,000,000 (USD50,000) from 2000 USD.