ANZBusiNess iNvestor GuideuNderstANdiNG your iNvestmeNt
optioNs iN the solomoN islANds

CONTENTS
our country(information/businesssnapshot/contacts)
Country Information2

our profile
ANZ Solomon Islands Profile3

guide to investing in THE solomons
Investment Approval Process

4

Product summary
Banking in the Solomon Islands

8

our network
ANZ Solomon Islands ATM & Branch Listing’s 10

our asia pacific business
Asia Pacific Profile12

Australia and New Zealand Banking Group Limited (ABN 11 005 357 522)
and subsidiaries seek to or do conduct business with issuers andin relation to financial products referred to in this report. Please referto the Important Notices at the conclusion of this document.

OUR COUNTRY

Country Information
PeopleGovernment

Population: 510,672 (2009 provisional census)
Languages: Pidgin English
Ethnic Groups: Melanesian (93%), Polynesian(4%), Micronesian (1.5%), Chinese, others

Democracy
Head of State: Queen of England as
represented by the Governor
General: Frank Kabui

Geography

Exchange control

Solomon Islands is the second largest tropicalIsland within the Pacific Islands group. There
are six major islands characterized by steep
mountain ranges with dense tropical forests
and are surrounded by extensive coral reefs.
Solomon Islands is home to some of the mostdistinctive birds, animals and sea creatures in
the world with Western Province hosting
unique and rear species of known corals. On
the global map, Solomon Islands is locatedbetween 5-12 degrees S latitude and 150-170
degrees E longitude in the Pacific Ocean. It isapproximately 1800km from Brisbane,
Australia and 3900km from New Zealand.
Solomon Islands has a total land area of
28,369 sq kilometres with an Exclusive
Economic Zone of 1.3 million sq kilometres.

Stringent controls apply to foreign exchange
payments abroad
Foreign currency funds must be handled byauthorized dealers
Applications for Foreign Currency accounts
are subject to Approval by the Central Bank of
Solomon Islands
Applications for foreign currency to repatriate
capital and profits of non-resident companies
are generally Approved by the Central Bank
after tax clearance is obtained.

EconomyCurrency: Solomon Bokolo Dollar (SBD)
GDP : SBD 4,549.6Million (2009 est.)
GDP growth: -2.2% (2010 est.)Exports: Gold, timber, fish, Cocoa, Copra andothers.

Banking regulations

The Central Bank of Solomon Islands
exercises strict control over all banks’ capital
Bank fees and charges are monitored andregulated
Banks may set their own interest rates
while exchange rates are monitored andcontrolled by CBSI
Reserve ratio (Statutory reserve deposit) is
7.50%.
Taxation
Withholding tax is payable on interest earned
by non-resident.

2–3

Our ANZ Solomon Islands Profile
ANZ Solomon’s Banking Segments:

Office Hours and Branches

Corporate, Business Banking, Small Business,
Markets/International Trade Services, Retail,
Rural Banking

Monday to Friday 9:00am - 4:00pm

Status: Full Banking Licence
Branches: 6
ATMs: 19
EFTPOS: 64
Market Share(2H2010) ~40.01%

Main Address
ANZ Haus
Mud Alley
PO Box 10
HoniaraSolomon Islands

For more Information
Visit our Website
anz.com/solomonsE-mail us on		
ANZTreasurySIUsers@anz.com
Call us on:
	Markets Dealing Room			Manager Markets Ph: +677 20241
			Markets Dealers Ph: +677 21451
			Trade & Supply Chain Ph: +677 20241

Guide to Investment in the
Solomon Islands

	Investment Approval Process
	The following steps must be undertaken by
investors wishing to establish businesses in
the Solomon Islands:

01.	Office of Registrar of
		Companies (ROC)
www.investsolomons.gov.sb
	Registration of business/company name	Download application form (Form 2
		 available on Website)

02.	Foreign Investment Division(The Solomon Islands Government)
	Registration must be done via
submission of the completed
application form (as above) and aregistration fee of SBD 200 (VIP)
Checklist is available fromwww.investsolomons.gov.sb

03.	Foreign Investment Division-	The following steps are normally taken
		 by the Foreign Investment Division in		 assessing investment application:
	Receipt of applications with appropriate
fees and required documents (refer feesand requirements section on
www.investsolomons.gov.sb )	The Registrar shall asses the application todetermine whether the application
specifies all the information required
under section 16 of Foreign Investment
Act 2005 and whether the information
specified is sufficient for determining thenature of each investment activity
specified in the application.

Consideration of application and issuanceof certificate.
	If the Registrar is not satisfied with theinformation provided in the application,
he may request the foreign investor toprovide additional information tocomplete the application or determine thenature of each investment activity (as thecase requires).
	Issuance of Certificate with an approval
letter.

	Note:
	This process may take up to 5 days
depending on the provision of all required
documents.
	FOREIGN INVESTMENT REQUIREMENTS

	The following are requirements Foreign
Investors need to provide to the Foreign
Investment Division.
a.	Individual applicant:(Name of foreign investor that is applying)Complete application form (form 2).
	Provide a brief business plan of the
proposed businessCopy of applicant’s passport photo
Curriculum Vitae of the applicant
Fee of $200
b. Company applicant:(Name of Corporate entity that is applying)Complete application form (form 2).
	Provide the Company’s ‘Certificate of	Incorporation’	Outline Company’s Organizational
structure/ Business planFee of $200

4–5

04.	Immigration Department
www.investsolomons.gov.sb
	The investor will then need to apply to theimmigration department who will:
Check criminal history/connection andcharacter as required by the ImmigrationAct	Issue key post residency permits to foreign
investors
Work permit checklist is available fromwww.investsolomons.gov.sb

05.	Labour department
	The investor will then need to apply to the	Labour department who will:
Check criminal history/connection andcharacter as required by the ImmigrationAct	Issue key post work permits to foreign
investors
Work permit checklist is available fromwww.investsolomons.gov.sb

06.	Solomon Islands Revenue &		Customs Authority
	Ensure ROC registration has beenobtained prior to processing applications
	Register the enterprise for Income Tax,
	PAYE & VAT purposes, and issue Tax
	Identification Numbers (TIN) provided
enterprises comply with application
requirements.
Apply to Inland Revenue and Customs forinvestment and tax incentives (for moreon incentives refer towww.investsolomons.gov.sb )07.	City/Town Council Business		Licenses
Apply to Honiara City Council to obtain abusiness license
08.	Solomon Islands National
		Provident Fund
www.sinpf.org.sb
	Registration of employee and employer superannuation.

09.	Other Government Agencies
depending on the nature of business.

10.	Establish a banking
		 relationship in Solomon		Islands
	Utilize ANZ contacts and accountopening procedures as listed in thefollowing pages

Solomon Islands Foreign Investment Checklist
Step	Description
1	Determine Business Structure (Ensure Legal Advice is sought)
2	Establish Company Name
Conduct a search of the Companies, Business Names and Trade Marks register
3	Obtain Foreign Investment Registration Certificate from the Foreign Investment
	Division as stated above Under Investment Approval process
4	Register the Company
5	Register for Income Tax & VAT with Solomon Islands Revenue & Customers Authority
6	Obtain Non-Resident work permits from Labour Department and Residency Permits
For foreign Employees from the Department of Immigration (if applicable)
7	Obtain Business Licenses from relevant town or city council
8	Register Employees and Directors with the Solomon Islands National Provident Fund
9	Open a ANZ Domestic Bank AccountInvestor Checklist

6–7

OPENING AN ACCOUNT IN THE SOLOMON ISLANDS
	Personal accountSolomonIsland Resident /Non-Solomon
Island Resident

Copy of passport

Business accountCertificate of Registration.

	Latest payslip (to verify sourceof income) or letter from Employer

	Memorandum of Articles of thecompany.

	Local Drivers Licence	Directors Resolution and letter fromorganization requesting a new
account	Utility bill(verify residential address)
	Minimum deposit of SBD 20.00(note that we do not open
accounts with zero balance)

GUIDE TO INVESTMENTOPENING AN ACCOUNT IN THE SOLOMON ISLANDS

For each of the signatories, thecompany will need to provide the		 following:- A valid Passport or Drivers
		Licence to confirm date of birth-	Utility bills such as Electricity
		 and water bills to confirm
		 residential address-	Salary details or employee
		 identification to confirm
		 employment or Telephone bill.

It is also important to advise the reason for opening this account as we may
require additional information.

PRODUCT SUMMARY

Banking in the Solomon Islands
Solomon Islands (SI) offers a unique culture,friendly people, amazing food, and a growing
economy.

Most bills are paid via bank transfer, cheques,
standing order (periodical payments), or by
cash.

Living and working in The Solomon Islands is
one of life’s great adventures, packed full ofopportunities, but certainly not without
challenges. ANZ is here to help you to makethe most of the opportunities, and overcome
some of the challenges.

In many cases, your employer would arrange
payment of major bills such as telephone, rent,electricity, etc.

Begin by looking at some of ANZ Solomon’s
products and consider how they can best
meet your financial needs.
ANZ will assist you establish your banking in
the Solomon Islands.

Product Summary
The banking environment in the
Solomon Islands (non-residents individual)
Currency
The currency of the Solomon Islands is theSolomon Bokolo Dollar (or simply Solomon
Dollar).
As an individual, if you are paid in Solomon
Dollars, you can convert to a foreign currency
or remit your foreign currency out of theSolomon Islands after approval is granted by
the Central Bank of Solomon Islands. Our
International and Markets team can assist with
this.

Making payments
Making payments for everyday expenses likeutilities or rent is not too difficult in the
Solomon Islands.

Debit cards
Debit cards are available in The Solomon
Islands.

ATMs
ATM networks have grown substantially in The
Solomon Islands in recent years. Most majorbanks also have ATMs around the country.
ATMs only dispense Solomon Dollars andaccept most international cards showing theCirrus or Maestro symbols.

Setting up your finances
ANZ has a large footprint in
the Solomon Islands
ANZ has 6 branches conveniently locatedcountrywide. You are welcome to come in andmeet our staff, ask questions, or use our tellingcounters to arrange local and overseas
payments, make deposits or withdraw cash.

Rural Banking
ANZ is also the proud and only provider of
Rural Banking services in The Solomon Islands.

The basics: opening local bank accounts
and getting paid
ANZ Solomon Islands can get you started withan ANZ Cheque/Access Account for everyday
banking. To open an account, simply visit an
ANZ branch and we will walk you through theprocess.

8–9

ANZ debit cards
ANZ Access Debit Card is linked to youreveryday deposit account, and allows you to
withdraw cash from ANZ ATMs in Solomon
Island.

ANZ Internet Banking allows you to:access balances on all linked accounts
view 12 months of transaction historytransfer funds between linked ANZ accounts
pay bills with BPAY®
make payments to your employees*
pay anyone within The Solomon Islands

Foreign exchange
Whether you are changing foreign currency
into Solomon Dollars or vice versa, ANZ canhelp with competitive rates and expert
service. Conditions and regulations apply
when exchanging Solomon Dollars to foreign
currency.

Domestic payments

Overseas payments(non-residents - individual)
Whether you are changing foreign currency
into Solomon Dollars or vice versa, ANZ canhelp with competitive rates and expert
service. Conditions and regulations apply
when exchanging Solomon Dollar to foreign
currency.

Once you’re settled in: making the most of
the opportunities
ANZ can offer a unique network solution to
your offshore banking needs while you areliving in the Pacific. Whether it is through ouroffshore banking centres in Singapore andHong Kong or back in Australia and New
Zealand, we can draw together a truly
international solution for all your financial
needs.
The ANZ team in The Solomon Islands canconnect you with our teams in offshore sites
and assist in establishing arrangements tosimplify what can be a complex task ofmanaging your financial position across anumber of countries.

If you wish to transfer money to another bankin The Solomon Islands, ANZ can make thesetransfers directly from your bank account. To
make a payment simply visit an ANZ branch, or Accumulating and investing cash
send us a fax instruction. Please ensure a ANZ
ANZ provides several accounts designed to
Fax Indemnity is in place before asking ANZ tohelp you invest. Come talk to us and we canact on your faxed instructions.
help you find the best solution for yourinvestment.
Find out more

To find out more about our Fees & Charges or
Account Opening forms, call us on Monday to
Friday between 8am - 4pm on 21111 (within
Solomon Islands) or 677 20241 from (Overseas)or email us on ANZTreasurySIUsers@anz.com

Taro

ANZ Branchlocation of solar powered Atms
location of mobile vehicles

Choiseulshortland is.

Gizo

santa isabel

New Georgia

Buala

Noro
Munda

malaitaTulagi
Auki

savo
HoniaraTetereulawa

Guadalcanalsan Cristobal

santa Cruz islands

Bellona isrennell
Lata

Ndendeutupuavanikolo

Anuta isFatakatikopiaANZ solomon islands ATM & Branch listing’s

OUR NETWORKATM location*
ANZ Point Cruz, Honiara (3)Point Cruz/ Honiara	ANZ Point Cruz
PO Box 10, Mendana Avenue
	Honiara Solomon Islands
Phone: 21111
Facsimile: 27911
Mud Alley/Honiara	ANZ Haus
PO Box 10, Mud Alley
	Honiara Solomon Islands
Phone: 21111
Facsimile: 21147
Panatina/ Honiara	ANZ Panatina
PO Box 10, Panatina
	Honiara Solomon Islands
Phone: 38310
Facsimile: 38316
Auki/ Malaita Province	ANZ Auki
PO Box 10, Honiara
	Malaita Province
Phone: 40160
Facsimile: 40041
Gizo/ Western Privince	ANZ Gizo
PO Box 10, Honiara
Gizo Western Province
Phone: 60262
Facsimile: 60034
Noro / Western Province	ANZ Noro
PO Box 10, Honiara
Noro Western Province
Phone: 61377
Facsimile: 61386

ANZ Haus, Mud Alley,Honiara (2)ANZ Panatina, Panatina Plaza (2)Solomon Islands Postal Corporation, Mud Alley
ANZ Auki, Auki Branch
ANZ Gizo, Gizo Branch
ANZ Noro, Noro Branch
Munda Town, Western Province
Henderson International Airport, Henderson
Guadalcanal Beach Resort (GBR), Henderson
Taro Town, Makira Province
Buala Town, Isabel Province
Lata Town, Temotu Province
Tulagi Town, Central Province
Tetere Police Quarter, Guadalcanal Plains

10 – 11branch location*
Area/Town	AddressOur Asia Pacific Business
ANZ Branches in the Pacific

JAPAN
KOREA

CHINA

UAE

TAIWANHONG KONG
VIETNAMCAMBODIA
PHILIPPINESMALAYSIA

INDIA

LAOS

PACIFIC ISLANDS INCLUDE:

THAILANDSINGAPORE
INDONESIANEW ZEALAND

AMERICAN SAMOACOOK ISLANDS
FIJI
GUAM
KIRIBATINEW CALEDONIAPAPUA NEW GUINEASAMOASOLOMON ISLANDSTIMOR ESTETONGAVANUATU

CONTACTSCONTACTS
12 – 13

American Samoa

New Caledonia

Vanuatu

ANZ Amerika Samoa Bank

ANZ
Representative Office

ANZ Bank (Vanuatu)
Limited- French Pacific Territories
9, Rue d’Austerlitz
Centre Ville
98800 Noumea
New Caledonia

ANZ House
PMB 9003
Port Vila

PO Box 3790
Pago Pago
American Samoa

Cook Islands
ANZ House
Maire Nui Drive, Avarua
Rarotonga

Papua New Guinea

China
Main Address
L130B, L234, China
Central Place,
No.79 Jianguo Road,
Chaoyang District,
Beijing P.R.China 100025

East Timor

ANZ
3rd Floor, Defens Haus

ANZ
Cnr Av Presidente Nicolau

Cnr Hunter St & Champion Pde
Port Moresby

Lobato & Rua Belarmino
Lobo, Bidau Lucidere

Samoa

RM2002,20F,

ANZ Bank (Samoa) Limited

International Finance Place,
8 Hua Xia Road,
Pearl River New Town,
Guangzhou, 510623
People’s Republic of China

Guam
ANZ Guam,Inc
424 West O’Brien Drive
Hagatna
Guam 96932

KiribatiBank of Kiribati Ltd
Main Street
Bairiki, Tarawa
Kiribati

Beach Road
Apia
Samoa

Fiji
ANZ House
25 Victoria Parade
Suva
Fiji

Tonga
ANZ Nuku’alofa
PO Box 910
Taufa’ahau RoadTonga

ANZ Shanghai
15th Floor, Mirae Asset Tower
166 Lujiazui Ring RoadANZ Shanghai
15th Floor, Mirae Asset Tower
166 Lujiazui Ring Road

Hong Kong Branch
Suite 2201 - 2207
Two Pacific Place
88 Queensway
Admiralty
Suite 3704 - 3709
Shell Tower
Times Square
1 Matheson Street
Causeway Bay
Suite 3809 - 3816
Two International
Finance Centre 8 FinanceStreetCentralJapan

Indonesia

Osaka Branch

ANZ Tower

17th Floor Office Tower
Hilton Plaza West
2-2 Umeda 2-chome,
Kita-ku
Osaka 530-0001
Japan

Jl. Jend. Sudirman
Kav 33A,
Jakarta 10220

India (Bangalore)“Cherry Hills”
Embassy Golf Links Business Park
Off Intermediate Ring Road
Bangalore – 560 071

India (Bangalore)“Eucalyptus”

Suite 301
Festival Walk Tower
80 Tat Chee Avenue
Kowloon Tong
Suite 1906 - 1907
International Commerce Centre
1 Austin Road West
KowloonJapan
33rd Floor,
Marunouchi Building
4-1 Marunouchi 2-Chome
Chiyoda-ku
Tokyo 100-6333
Japan

Manyata Embassy Business Park
Special Economic Zone
Outer Ring Road Rachenahalli& Nagavara Village, Hobli
Bangalore - 560 045

India (Mumbai)
ANZ Capital Private
Limited6th floor, Unit No. 63
2nd North Avenue
Maker Maxity
Bandra Kurla Complex
Bandra (East)
Mumbai- 400 051

ANZ Tower
Ground Floor
Jl. Jend. Sudirman Kav
33A,
Jakarta 10220
Ruko Kelapa Gading
InkopalBlock B No. 1 & 2
Jl. Boulevard Barat Raya
Kelapa Gading
Jakarta 14240
Wisma Pondok Indah,
Ground Floor
Jl. Sultan Iskandar Muda
Kav. V-TA
Jakarta 12310
Ruko Pluit Village
Blok MG No. 40 – 41,
Pluit
Jakarta Utara 14440
Jl. Ir. H Juanda No. 7 – 9Bandung 40116

CONTACTSCONTACTS
14 – 15

Indonesia (Surabaya)

Nongdouang Branch

TaiwanRich Palace Blok R6-7

157 Asean Road
Unit 11 Nongdouang,
Sikhottabong
Vientiane, Lao PDR

Suite 1208 12th Floor,

Jl. Mayjend. Sungkono
147-151
Surabaya 60226

Indonesia (Surabaya)

Pakse Branch

Ground Floor No. 92
Jl. Dharmahusada
Indah Timur 35-37
Surabaya 60115

13 South Road,
Unit 15, Phonesavan
Village,
Pakse District,Champasack Province,
Lao PDR

Indonesia (Semarang)

Malaysia

West Plaza Building,

Unit 02-02, Level 2,

Ground Floor
Jl. Diponegoro No. 16
Medan 20112

Menara Dion,
27, Jalan Sultan Ismail,50250 Kuala Lumpur,
Malaysia

Mal Galaxy,

Korea
18th Floor, Kyobo Building
1 Chongro 1,
Chongro-ku
KPO 1065
Seoul, Korea

Philippines
ANZ Commercial/Head
Office – 9 Floor,

Laos (Enquiry type, ANZV)MCC Center,
6778 Ayala Avenue,
1226 Makati City,
Philippines.

Lane Xange Branch

Singapore

33 Lane Xang Avenue
PO Box 5001
Vientiane, Lao PDR

1 Raffles Place,32-00, OUB Centre,
Singapore

International Trade
Building
333 Keelung Road,
Section 1 Taipei 11012
TaiwanThailand19 Fl., #1904, Athenee
Tower, 63
Wireless Rd.,
Pathumwan,
Bangkok
10330
ThailandDubai
ANZ Dubai(Representative Office)
Office 704, Level 7
BurJuman Business Tower
Khalifa Bin Zayed Road
Dubai, United Arab Emirates

anz.com/solomonislands
Australia and New Zealand Banking Group Limited (ANZ) ABN 11 005 357 522

In a perfect world,
your bank would offer youconnections, not just products.
With offices in 32 countries and territories across Asia Pacific,
talk to the bank that connects you to people who know people.
For more information, please contact
ANZ Banking Group Limited
P.O. Box 10, Honiara, Solomon Islands
T. 677 21111
F. 677 22957
ANZ Swift Code. ANZ BSBSB

This material is provided as a complimentary service of ANZ. It is prepared based on
information and sources ANZ believes to be reliable. Its content is for information only,is subject to change and is not a substitute for commercial judgement or professional
advice, which should be sought prior to acting in reliance on it. To the extent
permitted by law ANZ disclaims liability or responsibility to any person for any direct
or indirect loss or damage that may result from any act or omissions by any person in
relation to the material.”anz.com/solomonislands

Australia and New Zealand Banking Group Limited (ANZ) ABN 11 005 357 522. ANZ’s colour blue is a trade mark of ANZ. Date of Publication: March 2011

“This material is for information purposes only. You should seek professional advice
relevant to your individual circumstances. While ANZ has taken care to ensure that thisinformation is from reliable sources, it cannot warrant its accuracy, completeness or
suitability for your intended use. To the extent permitted by law, ANZ does not accept
any responsibility or liability arising from your use of this information.