PAXUM BANK is chartered under the Offshore Banking Act No. 8 of 1996 of Dominica, which allows international business with non-resident personal and corporate clientele.
PAXUM BANK accounts are not subject to local taxes or exchange restrictions and funds in foreign currencies are transferred freely with no conversion to East Caribbean Dollar required.
The Financial Service Unit (FSU) of Dominica monitors and regulates PAXUM BANK’s business. Strict adherence to capital adequacy and liquidity levels are required, ensuring compliance with internationally accepted best practices in global banking.