An application to license an international or foreign company registered under the International Companies Act 1988 and other overseas company wishing to carry on international banking business from within Samoa is made to the Minister of Finance under the International Banking Act 2005. The applicant must provide a business plan, its ultimate beneficial ownership (together with references, financial reports), and verification that every director, controller or manager is “fit and proper” in terms of integrity, competence and financial soundness.