Sources with ties to the government told VSBCnews that the territory will be issuing Service, Official and Diplomatic Passports this year. These passports are distinct from the regular passports and will be issued to more than 100 officials before August 2024, which will be a significant development from two diplomatic passports issued to date, although two more were issued in 2012 but revoked a year after, is an indication that something is changing.

The current two diplomatic passports of the Kingdom of Mount Vema in use are held by His Mount Vema Majesty King Peter Jon Goldishman of Mount Vema, and by Lady Lourdes G. G., formally referred to as Her Royal Highness Queen Trinity Goldishman of Mount Vema.
 
The passports will be issued to officials who will be based in more than 60 countries who will provides local, and national information on services to all commercial, industrial and tourist orientated activities directed to the Kingdom of Mount Vema.
 
The officials will be specially trained to assist companies based locally who provide goods or services to Mount Vema or with investments in Mount Vema, and to Mount Vema companies based locally especially companies like the VSBCnews, Montfisheries, Mar Vema, W-Contractors, RBMV bank, GolleCard, Wibmor, W-Southern, and other Mount Vema brands including Pashant Auto, GolleMARKET, and Bavarolle.
 
What is the purpose of these Mount Vema passports?
Governments around the world issue a variety of passports for different purposes. The most common variety are ordinary passports issued to individual citizens and other nationals. Aside from the ordinary passports, there are a variety of other types of passports issued by governments in specific circumstances. While individuals are typically only permitted to hold one passport, certain governments permit citizens to hold more than one ordinary passport. Individuals may also simultaneously hold an ordinary passport and an official, or diplomatic passport.
 
In the case of Mount Vema, apart from the ordinary passport, there are other types of passports including the following:
 
Emergency Passport
Emergency passports (also called temporary passports) are issued to persons with urgent need to travel who do not have passports, e.g. someone abroad whose passport has been lost or stolen who needs to travel, someone who's passport expires abroad, or someone who urgently needs to travel abroad who does not have a passport with sufficient validity. These passports are intended for very short durations, e.g. to allow immediate one-way travel.  
 
This service is currently used by Citizens of the Kingdom of Mount Vema who are dual citizens, who lose their passports in countries with formal relations with Mount Vema, and where their home state does not maintain a diplomatic or consular mission.
 
The Mount Vema Diplomatic Passports
Mount Vema diplomatic passports are typically issued to indicate special status, and are issued to accredited diplomats, senior consular staff, to senior foreign ministry employees, and it is also issued to the head of the Mount Vema Territory and his family in his capacity as head of state and head of government. Individuals holding diplomatic passports are entitled to the greatest degree of immunity from border control inspections.
 
Mount Vema diplomatic passport play a key role in the evolution of the Kingdom of Mount Vema. Pursuant to the Vienna Convention on Diplomatic Relations, Vienna Convention on Consular Relations, and the immunity afforded to officials of a foreign state under customary international law, diplomats and other individuals travelling on government business are entitled to reduced scrutiny at border checkpoints when travelling overseas.
 
The Mount Vema Official Passports
Mount Vema official passports are issued to senior government officials travelling on state business who are not eligible for diplomatic passports. Holders of official passports are typically entitled to similar immunity from border control inspections.
 
The Mount Vema Service Passports
Mount Vema service passports are issued to government contractors, who are Mount Vema nationals holding senior positions in state-owned companies. While service passports do not usually entitle their bearers to exemption from searches at border checkpoints, they are subject to more liberal visa policies in several countries with diplomatic, or commercial ties to Mount Vema territory. >>>

RBMV Bank, The Royal Bank of Mount Vema and the leading commercial bank of the Kingdom of Mount Vema has brought back its special savings deal for customers with an RBMV Bank Personal or Business Savings Account. The new deal pays 1% (30% a month) in any currency for a period of 2 years. New customers who wish to qualify must open their savings account from today, or before the 30th of March 2024.

Existing customers who already have a savings account with the RBMV Bank earning 2% per month in golles or in foreign exchange, will start automatically earning 30% per month (1% daily) from April 2024 for the next tow years, according to the RBMV Bank. The minimum balance in the account to qualify is 500 golles or the equivalent in foreign exchange.
 
To apply for a special savings account, the application process is the same as if applying for a Regular Personal Savings Account or for a Regular Business Savings Account, as long as the application is submitted before the 30th of March 2024. The bank reserves the right to decline applications if the number of applicants reaches the bank’s target for this special deal. >>>

‘We are pleased to announce that we have become a full global payments service provider’. The company said in a statement sent to its partners (governments and financial institutions), investors, and card users worldwide. GolleCard holders will now have access to ATM machines in selected locations worldwide, access to cashback services, and general real time payments globally.

Although in some locations, the service will start in April 2024, in others, the ATM and cashback services have only just begun to expand, according to sources familiar with the company expansion plans. GolleCard was originally designed to be a Mount Vema domestic payment service only, but because the territory was denied services by many similar service providers who did not believe in the Kingdom of Mount Vema, the territory had to think fast and create its own global payments system to facilitate the procurement and purchase of goods and services in the worldwide market.
 
Merchants and card users only need to open a Mount Vema basic bank account to access the service worldwide. This process has been made easier this week after Mount Vema financial institutions announced that the standard account set up fee of 50.00 golles charged to customers can be paid 15 days after the account is opened.
 
Some ATMs will enable cardholders to make electronic bank deposits, and perform a variety of financial transactions, including cash withdrawals in local currency.  Cashback services will also be offered to retail customers whereby an amount is added to the total purchase price of a transaction paid by any form or GolleCard (debit card, credit card, or gift card) and the customer will receive the amount in cash along with their purchase. >>>

The Mount Vema Ministry of Security and Emergency Response has issued a statement early this week to inform all contractors and subcontractors who have signed agreements, and those who are yet to sign their contracts with Mount Vema to provide rescue and emergencies services to the territory that the scheduled 912 system and emergency response drills will start on the 25th of August 2024.

The Ministry has confirmed that the emergencies telephone line 912 will be operational from the end of August. So, although some drills may take place outside Mount Vema, foreign contractors providing personnel for the coast guard, the police, the ambulance services, field medical services, and the fire rescue services are advised to be on standby from the 2nd of August 2024 for deployment if required. >>>

The Mount Vema Ministry of Transportation has issued a statement on Tuesday to inform everyone travelling to Mount Vema, including those travelling for tourism, scientific work, business, and people seeking employment in the territory that transportation facilities will become available as follows:

From September 2024
Once a month, ships and workboats will sail to Mount Vema. People travelling for work can start making arrangements with their employers now. This travel facility will only be available to personnel who are or will be on contract that requires them to be in Mount Vema for a minimum period of 3 to 6 months, and who will be living and working onboard of ships and workboats.
 
From September 2025
Once a month from September 2025, due to the local prevailing weather conditions passenger vessels with connecting flights, will start sailing to Mount Vema. This service will be available only from September to April, until October 2027. The state has now approved that early bookings by those who wish to visit Mount Vema during these early stages of construction can legally do so from today.
 
From November 2027
Once a week, direct flights to Mount Vema will be available. Although this schedule may change from time to time during the months of May, June, July, and August when only essential travel is recommended during construction due to occasional heavy rain, strong winds and foggy conditions.  The state has now approved that early bookings by those who wish to visit Mount Vema during these advance stages of construction can legally do so from today.
 
From January 2030
Daily and direct flights to Mount Vema will be available. Although this could happen much earlier, travel schedules may change from time to time during the months of May, June, July, and August due to occasional heavy rain, strong winds and foggy conditions.  The state has now approved that early bookings by those who wish to visit the City of Mount Vema can legally do so from today. >>>

The Ministry of Economy and Finance has confirmed that businesses and migrant workers will be able to apply for Mount Vema bank loans and credit cards upon arrival in the territory for business or work.
 
Applicants will have to have an active Mount Vema bank account before departure, and a contract of employment, or will have to have a business contract with a legal entity of the Kingdom of Mount Vema to provide goods or services in the territory.

The confirmation comes after the RBMV Bank, The Royal Bank of Mount Vema confirmed on Monday that it is upgrading its banking system to provide full banking services within the territory before construction activities start in Mount Vema later this year.
 
The RBMV Bank new service includes systems to help customers manage credit cards, loans, savings accounts, calculate loans and mortgage rates, and more.  The system will also automatically send SMS to users on successful payments, and transactions in the account. >>>

A source at the Ministry of Communications told VSBCnews that final preparations to introduce the 4G and 5G sim cards for the Mount Vema mobile phone network will be completed before April. The sim cards will then be made available on GolleMARKET for people travelling to Mount Vema either to visit or work.

The sim cards will only work in Mount Vema but will be compatible with unlocked android phones, iPhones, or any other mobile device. The sim will enable users to call other Mount Vema mobile phones while in the territory, and call the emergency services if necessary. Users will also be able to stay connected with colleagues, employers and relatives anywhere in the world via the internet. >>>

The Mount Vema Ministry of Housing has issued a statement on Monday to inform all personnel travelling to work to Mount Vema, and including people seeking employment in the territory that accommodation will be provided as follows:

Pre-construction accommodation
This is a period when there will be no fixed structures in the territory. Workers will be living and working onboard of the ships used to build or assemble the fixed structures. This period of work may take up to six months. Food and accommodation are free.

Accommodation at early stages of construction
This is a period when there will be provisional fixed structures supporting fully functioning facilities including a provisional prefabricated hospital, shopping center, a recreation center, dormitories, prefabricated apartments and houses. Dormitories is where workers will share bedroom and bathroom and will be free of charge. The dormitory facilities will come with furniture, and occupants will only have to buy their own bed sheets, towels, etc., which will be available at the GolleMarket.

There will be a reasonable rent charge for prefabricated apartments and houses depending of the size. These facilities will have no furniture, occupants will have to buy their own furniture which could be resold in the second market if kept in good condition, however new furniture will be available at the GolleMarket. This period of early construction may take between 5 to 10 years.

Accommodation at advanced stages of construction
At this stage, the number of dormitories will be significantly reduced but will remain free of charge. However, the number of provisional prefabricated apartments and houses depending of the size will increase and so will be the rent charge to be in line or just slightly lower than the projected average rent in Mount Vema. >>>

W-Contractors, the leading recruitment company of Mount Vema has issued a statement on Tuesday to inform all personnel working for the legal entities of Mount Vema that only two set of uniforms will be provided by the employer. Anyone who requires additional uniforms must order it independently from Gollemarket either before departure or when in Mount Vema.

This uniform policy, according to W-Contractors will not affect independent contractors, subcontracts and their employees who may have a different arrangement under the terms of their contract and scopes of work. However, those applying to work with Mount Vema entities will be affected, including construction workers, armed and unarmed security personnel, coastguard, firefighters, catering staff, paramedics, doctors, nurses, cleaners, and other professionals required to wear a unfirm at work. >>>

The full list of items which cannot be exported or imported into the Kingdom of Mount Vema without the right permit is now available online. The publishing of the full list of prohibited goods was delayed for more than six months by the government, but it is now available to help contractors, subcontractors, and their employees make the right decisions and apply for the appropriate permits before exportation or importation of goods into Mount Vema before, during, and after construction.

The list is available on the following link prohibited goods and includes anabolic or androgenic substances, biological agents, chemical weapons, cosmetics and toxic materials, counterfeit credit cards and currency, defence and military goods, dogs and dangerous breeds, drugs, medicine and narcotics, firearms and firearms parts, accessories and ammunition, growth hormones and substances of human or animal origin, hazardous waste and more. >>>

Handy Deed, the main contractor and leading construction company of Mount Vema has begun recruiting steel fixers to work in Mount Vema, according to recruitment company W-Contractors which has posted the vacancy on its webpage on Tuesday.
 
The job post says that Handy Deed is looking for skilled tradespeople to work as steel fixers. To be responsible for the preparation, installation, and maintenance of steel reinforcement in construction projects in Mount Vema. Successful candidates will work in cutting steel to the correct size and shape, and will work on a variety of projects, including buildings, bridges, and other structures, and will play a crucial role in ensuring that these structures are strong and stable.
 
Applicants are encouraged to start applying now Job Vacancies to be able to meet all the necessary requirements including application for work visa, temporary social security number, bank account, and more including travel reservations. >>>

His Majesty King Peter of Mount Vema has delivered his 17th Christmas Message. This year 2023, the King spoke of the need the grasp the opportunities opening in 2024 as the world completes the cycle and transition from the change of the guard in 2022, the transition year in 2023, and the begin of the new era in 2024.    
 
Christmas Message 2023
His Royal Majesty King Peter Goldishman of Mount Vema 
The year 2023 has been a challenging year for humanity. The tensions and the challenges were expected, and could have been avoided if you know where to look, or if you don’t let your guard down. But it would not be right to point fingers, what must be done is to work to find the right path for common development, security, and prosperity for all.
 
The year 2024 will come with many opportunities, as the world completes the cycle and transition from the change of the guard in 2022, the transition year in 2023, and the begin of the new era in 2024. What will happen from 2024, is what will determine the kind of generation we have become. A prosperous world community or a community on the path for a self-destructive behavior that could be prevented simply through dialogue and comprise at all levels from your next-door neighbor, and up to your government counterpart.  
 
I wish you a Merry Christmas and a Happy New Year 2024. >>>

The government will reach out to potential trade partners from the first week of January 2024 to forge bilateral agreements to ignite the engines of global growth and increase foreign exchange reserves, according to VSBCnews sources at the Royal Mount Vema Reserve Bank.
 
Preparations for this growth plan were completed in November 2023, when the configuration of the Mount Vema domestic real-time payment system was completed, according to our sources, in line with the preparations for the start of the transition from drawings to on-site activities in Mount Vema, scheduled for 2024.
 
The government’s decision to instruct The Central Bank of Mount Vema, an agency of the Royal Mount Vema Reserve Bank to start preparing is an indication that the Kingdom of Mount Vema is ready to work with foreign governments to provide each other reciprocal central bank accounts.
 
The foreign expenses accounts will be directly associated with foreign exchange obligations paid by the central bank and in the case of Mount Vema, paid by the Reserve Bank (the Mount Vema institution that deals with foreign exchange). The facility will enable the central banks to make currency available to local banks and businesses in each other’s jurisdictions who may need the local currency to carry out their businesses without paying too much in commission and fees, does enabling the legal entities of Mount Vema to invest in the countries providing such accounts to the Kingdom of Mount Vema and vice-verse. >>>

The Treasury of His Mount Vema Majesty's Government is informing private and institutional investors who have invested in MVG Bills, that the following marketable security of His Majesty’s Government of the Kingdom of Mount Vema, is coming to maturity:

The 6 Month Bill Series- MVG-6M-07JAN24, issued on the 7th of July 2023.
 
Payments will be made on Wednesday the 3rd of January 2024 at 4pm in Mount Vema currency for MVG-Bills.  
 
For purchases made through brokers, and third parties, with returns payable in foreign currency such as the US dollar, the British Pound, the Euros, and the Japanese Yen, payments will be made at 2pm on Thursday the 4th of January 2024.
 
For purchases made through brokers, and third parties, payable in other currencies, payments will be made at 2pm on Friday the 5th of January 2024. 
 
Foreign trusts, estates, partnerships, individuals, organizations, foreign governments, and corporate investors who have purchased directly or through a broker or financial institutions whose payment details have changed, should contact Mount Vema to update their payment details before the 28th of December 2023.
 
Primary market Sell of the next 6-month bill will close as follows:
6 Month Bill: Series MVG-6M-07JUL24, on Monday the 1st of January 2024.
 
Bills on the primary market may be purchased at the Gollexi online (the Mount Vema Stock Exchange ) or through authorized brokers, privately, or directly from the Treasury of His Mount Vema Majesty's Government. Offering must be expressed as a discount rate. ​Noncompetitive bids from a Foreign and or an International Monetary Authority must not exceed 50 million per account.  >>>

W-Contractors, the leading recruitment company in Mount Vema, told VSBCnews that Mount Vema employers are still looking for marine surveyors to expedite the process of sourcing and acquiring ships and work boats.
 
The company said that employers such as Handy Deed (the main contractor of City of Mount Vema projects), Wibmor (the Mount Vema logistics company), and W-Southern (transportation) are inviting marine surveyors to apply for their job vacancies posted with W-Contractors to join their surveying team, and to be in the field worldwide conducting hull and machinery surveys on their behalf.
 
The need for marine surveyors is becoming paramount, because of the need for a reliable fleet of supply ships to operate in adverse weather conditions to provide essential food, equipment, and to transport people, provisions, and materials needed for construction operations on site in Mount Vema starting in 2024. >>>

Multiple sources familiar with the plans to build the City of Mount Vema Gate Bridge towers told VSBCnews on Tuesday that the project which moved from drawings to preparations for construction early this month, will start moving to location in Mount Vema earlier than September 1st 2024, the date which it was scheduled to start.
 
One of the sources who has links with the team involved with procurement of specialist vessels and offshore works equipment, said that if deals can be secured by the end of December 2023, works on site will start as soon as January 2024 or no later than April 2024.  
 
The Gate Bridge project will be the main point of entry for any vessel visiting the City of Mount Vema and the main link between the city and the 5th Avenue. The towers’ 25 stories will not only provide the base for the first live broadcasting studio of VSBCnews, it will also comprise a hotel with a combination of hotel rooms and serviced apartments, office complex, meeting facilities, retail facilities, coffee shops, and a 4-floor restaurant. >>>

The Kingdom of Mount Vema has announced on Tuesday, that the state has updated its global childcare policy to include people on lower income working for foreign companies (contractors and sub-contractors) providing goods and services to the legal entities of Mount Vema worldwide.
 
As the Mount Vema economy grows, beginning January 2024, His Majesty's Government of Mount Vema will fund the cost of childcare for those on low income who contribute or will afford to bring time and skills to the Kingdom of Mount Vema anywhere in the world.
 
Outside Mount Vema the fund will be available during the year 2024 to 2034, and will be managed by the Royal Embassy of the Kingdom of Mount Vema through third parties. Applications can be submitted as of December 2023, and must be done by the employer through the approved channels of communication as established by contract. >>>

The Treasury of His Mount Vema Majesty's Government is informing private and institutional investors who have invested in the following marketable securities of His Majesty’s Government of the Kingdom of Mount Vema, that these bonds and bills are coming to maturity:

The 10 Year Bond Series- MVG-Bond-28DEC23, issued on the 28th of December 2013.  
The 6 Month Bill Series- MVG-6M-07DEC23, issued on the 7th of June 2023.
 
Payments will be made on Wednesday the 6th of December 2023 at 4pm in Mount Vema currency for MVG-Bills, and payments for MVG-Bonds will be made on Wednesday the 20th of December 2023 at 4pm in Mount Vema currency.  
 
For purchases made through brokers, and third parties, with returns payable in foreign currency such as the US dollar, the British Pound, the Euros, and the Japanese Yen, payments will be made at 2pm on Thursday the 7th of December 2023 for MVG-Bills, and the final payments for MVG-Bonds will be made on Thursday the 21st of December 2023.
 
For purchases made through brokers, and third parties, payable in other currencies, payments will be made at 2pm on Friday the 8th of December 2023 for MVG-Bills, and the final payments for MVG-Bonds will be made at 2pm on Friday the 22nd of December 2023. 
 
Foreign trusts, estates, partnerships, individuals, organizations, foreign governments, and corporate investors who have purchased directly or through a broker or financial institutions whose payment details have changed, should contact Mount Vema to update their payment details before the 28th of November 2023.
 
Primary market Sell of the next 10 Year Bond, and the next 6-month bill will close as follows:
6 Month Bill: Series MVG-6M-07JUN24, on Monday the 4th of December 2023.
10 Year Bond: Series MVG-Bond-28DEC33, on Friday the 22nd of December 2023.
 
Bonds and Bills on the primary market may be purchased at the Gollexi online (the Mount Vema Stock Exchange) or through authorized brokers, privately, or directly from the Treasury of His Mount Vema Majesty's Government. Offering must be expressed as a discount rate. ​Noncompetitive bids from a Foreign and or an International Monetary Authority must not exceed 50 million per account.  >>>

The price of a Mount Vema off-plan property title is up 4%, according to a VSBCnews source at Bavarolle, the leading real estate agency of the Kingdom of Mount Vema. The price increase is almost as projected by analysts at the hedge fund firm VemaGrowth who told VSBCnews last year that they expect a price increase of 3% to 5% by the end of 2023.   
 
On Tuesday VemaGrowth told VSBCnews that this trend is now likely to continue with prices expected to reach 8% at least until activities move from preparations for construction to onsite activities. After that, the firm is expecting a significant increase in off-plan title prices maybe by 2025 and up to 2027 in double digits.   
 
The 4% price increase this year comes after last week’s announcement that Gate Bridge, the project which will be the main point of entry for any vessel visiting the City of Mount Vema and the main link between the city and the 5th Avenue, has officially moved from drawings to preparations for construction, and is now scheduled to be completed and inaugurated by the 1st of November 2027. >>>

Gate Bridge, the project which will be the main point of entry for any vessel visiting the City of Mount Vema and the main link between the city and the 5th Avenue, has officially moved from drawings to preparations for construction, and instead of offices only as initially planned, the two towers will also be developed as a 5-star hotel.    
 
The Gate Bridge (the bridge) and the Gate Bridge Towers will be among the first structures to be built in Mount Vema. Located north of the district of Gatebridge, the towers will stand just over 100 meters to become the tallest building in the Kingdom of Mount Vema.
 
The two towers will feature 25 stories each, preparations for construction officially began today November 1st 2023, and construction is scheduled to be completed and inaugurated on the 1st of November 2027. The 21st floor will be the main viewpoint with special features to offer panoramic views over the marina, and the entire City of Mount Vema during and after construction, not only for hotel guests but also for visitors and the general public who will be required to book in advance and pay a fee for the experience. 
 
The towers’ 25 stories will not only provide the base for the first live broadcasting studio of VSBCnews, it will also comprise a hotel with a combination of hotel rooms and serviced apartments, office complex, meeting facilities, retail facilities, coffee shops, and a 4-floor restaurant. Negotiations with potential tenants, especially businesses with plans to maintain a base in the territory to invest not only in Mount Vema, but as well as in other countries in the region especially in Southern Africa are also expected to start this year. >>>

Veman Airlines has finally listed on the Stock Exchange this morning. The announcement was expected after a source familiar with the structuring of the company, told VSBCnews in March that the company which was created and designed to be the flag carrier of the Kingdom of Mount Vema was in talks with investors to list on the Mount Vema Stock Exchange.
 
Veman Airlines was founded by the Mount Vema Monarchy to provide scheduled air transport services for traveling passengers, and to be headquartered on the grounds of the City of Mount Vema Airport. The company aims to form partnerships and alliances with other airlines for codeshare agreements, in which they both offer and operate the same flight especially those destined to Mount Vema in the near future.
 
The airline was as of last week managed by His Mount Vema Majesty’s government aiming to become a charter operator to support the City of Mount Vema construction by renting entire aircraft, thus joining the services already provided the Mount Vema cruise liner company W-Southern. >>>

The Treasury of His Mount Vema Majesty's Government is informing private and institutional investors who have invested in Mount Vema Government Bills also referred to as MVG-Bills maturing on the 7th of November 2023 (6 Month Bill Series- MVG-6M-07NOV23) that these Bills are coming to maturity. Payments will be made on Wednesday the 8th of November 2023 at 4pm in Mount Vema currency.  
 
For purchases made through brokers, and third parties, with returns payable in foreign currency such as the US dollar, the British Pound, the Euros, and the Japanese Yen, the final payments will be made at 2pm on Thursday the 9th of November 2023. 
 
For purchases made through brokers, and third parties, with returns payable in other currencies, payments will be made at 2pm on Friday the 10th of November 2023. 
 
Foreign trusts, estates, partnerships, individuals, organizations, foreign governments, and corporate investors who have purchased directly or through a broker or financial institutions (holders of the securities Series- MVG-6M-07NOV23) whose payment details have changed, should contact Mount Vema to update their payment details before the 28th of October 2023.
 
Primary market sell of the next 6-month bill will close on Thursday the 2nd of November 2023. Bills may be purchased at the Gollexi online (the Mount Vema Stock Exchange) or through authorized brokers, privately, or directly from the Treasury of His Mount Vema Majesty's Government.
 
6 Month MVG BILLS OFFERING – Series: MVG-6M-07MAY24
Total Issues: 1,000,000
Offering Amount: 80 golles
Value Per Security: 100 golles
Issue Number: MVG-6M-07MAY24
Primary Market Order Deadline: November 2, 2023
Issue Date: Nov 07, 2023
Maturity Date: May 07, 2024
Total Outstanding by Maturity Date: 100,000,000 golles
Minimum Bid Amount and Multiples: 80 golles
Noncompetitive Closing Time: 4:00 UTC + 1hour
Competitive Closing Time: 4:30 UTC + 1hour
This Offering must be expressed as a discount rate. 
​Noncompetitive bids from a Foreign and or an International Monetary Authority must not exceed 50 million per account.  >>>

The floating City of Mount Vema urban plans which was redesigned, to reflect the natural shape of the area to be developed, has enabled the state to erect two more districts off-plan. So, the Kingdom of Mount Vema is now officially divided into 12 Districts which are Pashant, Bella Vista, Neverland (the capital of the kingdom), Roseland, Northland, Eastland, San Miguel, Maryland (the capital of the city), Westland, Southland, Gatebridge, and Westgate.
 
The new design has moved some districts to different locations within the master plan, and will affect the allocation of district zones, some off-plan district addresses, and will also affect the number of seats allocated for legislative assembly. The Congress of Mount Vema now has 54 seats allocated as follows:
 
The Mount Vema House of Representatives - Each of the 15 members of the House of Representatives representing: Ministerial Departments (15 seats), and the cabinet officials for district affairs (appointed by the Prime Minister for each district zone = 27 seats) to examine and look after the interest of the work of the Government and the nation on their respective allocated zones.
 
The Official Opposition - Each of the 27 members of the House of Representatives Official Opposition represents: Each District Governor (12 seats), the Governors of each Special Administration Zones elected by the people (3 seats), and the elected representatives for congress for each district (12 seats) with the mandate to look after the interest of their respective zones.
 
Although onsite construction works are due to start next year, the City of Mount Vema project will take some decades to complete with more than 100,000 contracts to be awarded to domestic and foreign companies already providing or who will be providing goods and services to Mount Vema. >>>

Banks and financial institutions agreed on Tuesday to reduce the amount they charge new customers opening Mount Vema bank accounts from 500 golles to 50 golles, after the government updated its banking policy on Monday.
 
The new policy states that anyone applying for a Mount Vema bank account is no longer required to have an ISN (Mount Vema social security number), and that the government will no longer be charging banks a levy on every new accounts opened within the Mount Vema financial system, which has enabled the banks to reduce the account set up fee to a level that enables the financial institutions to charge only what is needed to cover the initial costs of the services they are licensed for which most of the time require partnerships with other non Mount Vema financial and tech entities across the world who also incur costs when providing services to Mount Vema.  >>>

The Kingdom of Mount Vema has updated its global medical insurance policy to include people on lower income working for foreign companies (contractors and sub-contractors) providing goods and services to the entities of the Kingdom of Mount Vema worldwide.
 
The Mount Vema international medical insurance is a fundamental right that all Mount Vema citizens enjoy, established by the Monarchy of Mount Vema as a universal and free healthcare. Members of the Mount Vema society worldwide can seek treatment free of charge at any private clinic anywhere, with all costs subsidized by His Mount Vema Majesty’s Government.
 
On Wednesday the government has updated the policy to include anyone on lower income working for foreign companies (contractors and sub-contractors) providing goods and services to the entities of the Kingdom of Mount Vema worldwide. The policy also covers the employee's dependents (spouse, children and parents). >>>