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Information for Banks

Obtaining a New Banking License

By that resolution unanimously adopted on July 29, 2010, the Governing Board of the FIC lifted the moratorium on issuance of new banking licenses  The moratorium on the establishment of new banks in Palau became effective on February 19, 2003 by FIC Resolution No. 02-2003-03 dated the same in order to allow the Commission time to adopt and fully implement its prudential and administrative regulations as promulgated under the Financial Institutions Act. The FIC is prepared to accept any and all completed bank license application packets.

Make sure all items on the Banking Application Submission checklist are fulfilled and/or complete.

  • Complete, sign, and notarize the Application form.
  • Make payable to “National Treasury” Banking License Processing Fee of Two-thousand Five-hundred dollars ($2,500)
  • Complete Biographical data form for each applicable individual
    • A confidential biographical data report must be completed and filed by each person proposing to acquire a “significant interest” in a Palau financial institution and each “principal shareholder,” “director,” and “executive officer” proposed in connection with an application for a license to establish a new Palau financial institution.
  • Complete Personal Financial Statement for each applicable individual.
    • A confidential personal financial statement report must be completed and filed by each person proposing to acquire a “significant interest” in a Palau financial institution. A “significant interest” means owning or controlling, directly or indirectly, twenty percent (20%) or more of the outstanding equity or any class of shares with voting rights of a financial institution. “Person” includes an individual, two (2) or more individuals acting in concert, any type of partnership, corporation, syndication, trust, or any other organization, or any combination of the forgoing, and the information required in this application is required for each member of the group. A confidential personal financial statement report must also be completed and filed by each “principal shareholder,” “director,” and “executive officer” proposed in connection with an application for a license to establish a new Palau financial institution.
  • Completed, signed by all applicable individuals, and notarized Directors Acceptance & Oath of Office.
  • All other documentation and requirements as mandated or directed by the Financial Institutions Commission
Download Bank Licensing Application Form