Vanuatu is a South Pacific Ocean nation made up of roughly 80 islands that stretch 1,300 kilometers. The islands offer scuba diving at coral reefs, underwater caverns, and wrecks such as the WWII-era troopship SS President Coolidge. Harborside Port Vila, the nation’s capital and economic center, is on the island of Efate.
The four mainstays of the economy are agriculture, tourism, offshore financial services, and raising cattle There is a substantial fishing activity, although this industry does not bring in much foreign exchange. Exports include copra, kava, beef, cocoa and timber, and imports include machinery and equipment, foodstuffs and fuels. In contrast, mining activity is unsubstantial.
Starting from January 2017, the Government of the Republic of Vanuatu has launched the Development Support Program (DSP) for the purpose of raising funds to support infrastructure and promoting the economic development of Vanuatu. The citizenship by investment program is a new provision enacted under the Citizenship Act with the powers conferred on the Prime Minister.
This is the only Citizenship by investment program in Asia Pacific Hemisphere.
Vanuatu citizenship by investment program
If you want to get Vanuatu citizenship you will need to donate a certain amount to the government. For a single applicant necessary donation is $160 000 USD. For a married couple it’s $185 000 USD, for a couple with one child it’s $200 000 USD, for a family with two kids it will be $220 000 USD. If your family exceeds four members it will cost $25 000 USD for each additional dependent. The due diligence fee is $5000 USD.
Donating funds to the government is the only way to participate in this program. There are no options for buying real estate or investing in a local business.
The application process is simple and getting your new passport will take a very short time.
Restrictions apply to citizens of following countries: Iran, Iraq, Syria, North Korea, and Yemen. They can not obtain Vanuatu passport by citizenship by investment program.
Benefits of Vanuatu citizenship by investment
If you decide to obtain Vanuatu passport there are multiple benefits that come with it.
As of 1 January 2017, Vanuatuan had visa-free or visa on arrival access to 116 countries and territories, ranking the Vanuatuan passport 43rd in terms of travel freedom according to the Henley Passport Index. Visa-free travel countries with Vanuatu passport include EU, UK, Russia, and Singapore.
Vanuatu is a member of the Commonwealth and its citizens are considered Commonwealth citizens granting them additional rights in the United Kingdom and certain Commonwealth countries.
Vanuatu has zero corporate tax, it also has no income tax, no capital gains tax, no estate tax, no wealth tax, no withholding tax, no gift tax, and no other personal income taxes. Aside from a locally applied 12.5% VAT, there are almost no taxes at all. Vanuatu is business-friendly. It has been the International off-shore finance center since 1972.
There are multiple international banks in Vanuatu, such as ANZ Bank, Bred Bank, BSP (Bank of South Pacific).
It’s simple to form a company and open a bank account.
Prices of this program are very attractive, especially for families. Citizenship is for life and is hereditary.
As we already said this program is very efficient and you can get your second passport fairly fast.
A “pre-approval” stage involving a Vanuatu Government background check on the applicant is required. Once the pre-approval has been received (normally 7-10 days), the full documentation is submitted with full payment. The Citizenship process from here takes between 30 to 60 days to complete, making it one of the fastest processing times in the World.
Once the application is approved, the applicant will be required to present themselves at a Government of Vanuatu Consulate, nominated office or, in Vanuatu itself.
At the Consulate or Government Offices, the applicant will participate in the Oath of Allegiance ceremony upon which they will be granted their citizenship and receive their Vanuatu passport.
There is no requirement for the citizen to visit Vanuatu. You can even organize someone to come and bring you your new passport wherever you are!
|Dual citizenship allowed||YES|
|Investment required||$160 000 USD|
|Time||30-60 days on average|
|Family members||Yes, with extra cost|
|Visa-free access||116 countries and territories|
|Who doesn’t qualify||Citizens of Iran, Iraq, Syria, North Korea, and Yemen|