Palau is recognized as a “God’s aquarium” in the global tourism industry. With the rise of high-end tourism, as well as preferential tax policies and a closed financial system, Palau’s banks are moving towards “rich people’s safes”. Palau, also known as the Palau, is known as the Republic of Palau. It is located in the western Pacific Ocean and consists of about 340 islands. Although it has an unparalleled marine landscape, it is not long because of its hidden geographical location and national independence (independence in 1994, before After several years of rule or custody in Spain, Germany, the United States, etc., Palau has not received world attention in the past few decades. Until “National Geographic” ranked Palau the first place in “Paradise on Earth”, Palau jumped from a hidden island country to a global tourism star, which quickly opened the way for economic development. Tourism is the economic pillar of Palau, in addition to agriculture and fisheries. Palau’s tourism market has attracted more and more tourists.
At the same time, the government has also increased investment in recent years, and invited foreign investment institutions to participate in the construction of more complete infrastructure. Palau has a very low tax rate and has been included in the tax haven blacklist by the European Union. This also reflects the influence of Palau’s tax policy on the international scale.
If foreign tourists and investment institutions wish to make cash access, exchange or transfer at the bank of Palau, which banks can provide these services? What are the characteristics of each bank? By the end of 2018, Palau had a total of five Home bank. On the official website of the Palau Financial Authority, according to the rankings are Asia Pacific Commercial Bank, Bank of Guam, Bank of Hawaii, Bank Pacific, Palau Investment. Bank (Palau Investment Bank).
Among them, Bank of Hawaii and Guam Bank mainly provide small services for individual customers. There are more self-service tellers in Palau to provide cash withdrawal services, but the daily limit is 200 US dollars. Asia Pacific Commercial Bank and Pacific Bank provide services to high-net-worth individual and commercial customers, with a strong advantage in commercial customer service