Faq

The new IOR provides payment and financial services exclusively to all Catholic Church institutions in the world, it makes only Catholic faith consistent investments, and allocates its profits solely to religious or charitable works

The mission of the IOR is to provide “for the stewardship and administration of movable and immovable property transferred to it or entrusted to it by natural or legal persons and destined for religious or charitable works” (Statutes, art. 2)

The IOR is at the service of the Roman Curia, but is not part of it

The IOR is the only Vatican entity authorised by the Vatican Supervisory and Financial Information Authority to carry out financial activities and, by statute, it is required to donate its profits to religious or charitable works. APSA, on the other hand, is an economic body whose purpose is to manage the assets of the Holy See and provide the resources needed for the Roman Curia to function

The Institute has no branches or subsidiaries and is based exclusively in the Vatican City State

Anyone who meets the requirements set out by the regulations in force and the skills required for the position to be filled

Personnel recruitment and selection are carried out by means of a sound and structured process that involves the use of several channels (external selection and recruitment companies, universities or specialised schools, professional associations, job listings on specialised websites or in specialised magazines, unsolicited applications, etc.) and selection of the most appropriate one for the profile to be recruited

The Institute accepts as customers only legal or natural persons who are members of the Catholic Church or who serve it, provided that they meet the requirements set out in the regulations in force

The awareness of dealing with an institution that has knowledge of the Catholic world, its needs and how to meet them, offering prudent and tailor-made solutions that respect Catholic ethics

The knowledge that the IOR’s commissions contribute to religious or charitable works and therefore support the Pope’s pastoral activities

Prospective customers can contact the Institute to make an appointment with an advisor who will provide all the assistance needed to submit an application to the relevant offices. Once approval has been granted, the account can be opened

Any dispute concerning the interpretation or execution of an Agreement shall be submitted to the exclusive jurisdiction of the Vatican City State Tribunal

Yes

Yes. In this context, the legislation in force in Vatican City State is aligned with European legislation by virtue of what is established by the 2009 Monetary Convention between Vatican City State/Holy See and the European Union

The IOR is supervised by the Supervisory and Financial Information Authority of the Vatican City State

The institute is required to comply with Vatican City State legislation, which conforms to the most recent European Directives on the matter, and therefore adopts the same controls as any other European banking institution.

The soundness and compliance of these controls is subject to constant verification by internal and external auditors, as well as by the Vatican Supervisory Authority and Moneyval.

Since 2016, the Institute has been implementing the “Agreement between the Government of the Italian Republic and the Holy See on Tax Matters”. Under this agreement, customers resident in Italy for tax purposes can fulfil the tax obligations arising from their ownership of financial assets held at the Institute through a Fiscal Representative selected by the Institute. The IOR calculates and withholds the customers’ taxes, which are then paid to the Italian Treasury through the Fiscal Representative

The assurance that investments are 100% Catholic faith-consistent, the returns achieved and the transparency of our fees are the elements most appreciated today by the communities we have been serving for years

The Institute only makes investments consistent with the Social Doctrine of the Church, thanks to a sound and rigorous investment process that combines the search for returns and risk tolerance with the needs and objectives of the Customer

Every stage in the selection of financial instruments for investment is based on respect for the Catholic Ethical Investment criteria identified by the IOR and inspired principally by the guidelines indicated in papal encyclicals and other relevant sources

The Institute cannot execute the received order, but is available to suggest alternative financial products to the customer that are consistent with its own policy

The IOR does not offer services related to cryptocurrencies or similar financial instruments. Any initiative that uses the IOR’s name or logo improperly in relation to cryptocurrencies is therefore unauthorised

IOR Debit Cards, linked to current accounts, may be used for withdrawals from IOR ATMs and purchases within Vatican City State

VISA cards are international payment cards valid on all international VISA networks. Thanks to the 3D Secure system, they can be used to make online purchases in conditions of maximum security

The Institute adopts an integrated approach, combining regular review processes, ongoing monitoring and the constant updating of security measures, thereby ensuring compliance with the highest security standards