We are aware of how difficult and time consuming it can be to open a bank account in a foreign country. Our Foster Swiss team has specialized in opening bank accounts. Foster Swiss experts will take care of everything and the whole process, always offering you the best personal banking solutions that best suit your needs.

Papua New Guinea is an ideal archipelago to establish an international account, this island very close to the north of Australia uses English as the official business language, but as a curious fact we can point out that in this archipelago there are about 800 different dialects.

When deciding which jurisdiction to choose to open an international account, we must tell you that the financial system of Papua New Guinea is related to the financial system of New Zealand and Australia, with 4 banking institutions, 22 savings and loan companies, and 10 licensed finance companies currently making up the young financial system of Papua New Guinea.

AN INTERNATIONAL ACCOUNT WITH SUPPORT

Papua New Guinea, famous for its beaches and coral reefs, there is no control in the exchange system, anyone can freely transfer, deposit, receive and use foreign currency.

Among the services offered by Papua New Guinea's commercial banks are Online Banking, Savings and Checking Accounts, Foreign Currency Accounts, Personalized Commercial Loans, Corporate Credit and Debit Cards, Commercial Refinancing. ATM network ATM system located in the main centers of Papua New Guinea.

It is possible to open a corporate bank account in this archipelago in the Bank of South Pacific, local bank; in the ANZ Banking Group, Maybank, Westpac Banking Corporation with branches in the provinces of PNG. The financial system of Papua New Guinea is related to the financial system of New Zealand and Australia.

For all cases the average time to open an online personal or corporate account is 3 to 4 weeks.

Papua New Guinea is not on the FATF list of countries identified as having strategic AML deficiencies.

If you would like to open a bank account in Papua New Guinea, Foster Swiss can help you. We help you with practically everything: we advise you from the moment you choose the right bank, requirements and formalities until after you have successfully created the application. And of course we take care of the entire process for you.

For more information on this topic or any requirements related to our services, you can contact us directly at info@fosterswiss.com. Ask a financial advisor for more information.