Samoa International Finance Authority

The Samoa International Finance Authority (SIFA) serves as the regulatory body overseeing the offshore financial sector of Samoa. Established with the mission to promote and regulate international financial services, SIFA strives to position Samoa as a reputable and competitive jurisdiction for international business and investment.

SIFA’s core responsibilities encompass licensing, supervision, and enforcement within the international financial sector. This includes entities such as international companies, trusts, international insurance companies, and banking institutions operating under international licenses. The authority aims to maintain the integrity and stability of the Samoan financial system by implementing robust regulatory frameworks aligned with international standards and best practices.

A key objective of SIFA is to attract foreign investment and facilitate legitimate international business activities. Samoa offers a range of benefits for international investors, including a stable political environment, a flexible legal system based on English common law, and a strategic location within the Asia-Pacific region. SIFA works to ensure that these advantages are complemented by a strong regulatory framework that fosters confidence and transparency.

Compliance is a central pillar of SIFA’s operations. The authority actively combats money laundering and the financing of terrorism by adhering to international Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) standards. SIFA collaborates with international organizations such as the Financial Action Task Force (FATF) to strengthen its regulatory regime and ensure compliance with global norms.

To maintain a balance between attracting business and mitigating risks, SIFA implements stringent due diligence procedures for licensing and ongoing supervision. This includes thorough vetting of beneficial owners, directors, and key personnel of licensed entities. The authority conducts regular on-site and off-site inspections to monitor compliance and address any potential regulatory breaches.

SIFA plays a crucial role in the Samoan economy by generating revenue through licensing fees and related services. These revenues contribute to the overall development of the country and support the provision of public services. Beyond its regulatory functions, SIFA actively promotes Samoa as a preferred jurisdiction for international financial services through targeted marketing and participation in international conferences and forums.

Looking ahead, SIFA is committed to continuously improving its regulatory framework and enhancing its supervisory capabilities. This includes adopting innovative technologies and exploring new financial products and services to remain competitive in the evolving global landscape. By maintaining a strong focus on integrity, compliance, and innovation, SIFA aims to solidify Samoa’s position as a trusted and attractive destination for international finance.