- July 22, 2017
- Posted by: CIP Journal
- Category: Citizenship, Passports
Vanuatu is also popular for offshore financial center and a famous tropical holiday destination for travelers in the South western pacific.
Vanuatu’s ‘honorary’ citizenship by investment program was launched in March 2017. This program also known as Honorary Citizenship Development and Support Program of Vanuatu which replaces the existing Vanuatu Economic Rehabilitation Program (VERP).
The Vanuatu Development Support Program offers honorary citizenship to foreign investors against one time contribution of USD 200,000 and additional costs are involved for family citizenship packages. Citizenship is only approved by Citizenship commission in Vanuatu after vetting of applicants for criminal record including due diligence checks.
Main applicant USD 200,000
Main Applicant + Spouse USD 220,000
Main Applicant + Spouse + 2 Children (biological or adopted) under 18 years USD 240,000
There is no requirement to live in Vanuatu before or after citizenship. Permanent residency card also possible with in Vanuatu.
- Become a citizen of the Commonwealth
- Visa free travel to 127 countries including Russia, United Kingdom and EU Schengen states.
- Lifetime citizenship with one investment.
- Family Citizenship for spouse, children and parents.
- Processing time is 2 months.
- No residence requirements for citizenship.
- Invest in Vanuatu business or enterprise projects
- Invest in Vanuatu Real estate market (hotels, resorts, villas)
- No income tax for individuals/ companies.
- No withholding tax, no capital gains tax, no inheritance tax.
- Dual citizenship allowed.
- Vanuatu passport ranked 45th best in the world.
- Fast Second passport for investors.
There are no income tax, no withholding tax, no capital gains tax, there are no inheritance taxes, and no exchange controls in Vanuatu.
Vanuatuan citizens had visa-free or visa on arrival access to 113 countries and territories, ranking the Vanuatuan passport 45th in terms of travel freedom according to the Henley visa restrictions index. Vanuatu signed a mutual visa waiver agreement with Schengen Area countries on 28 May 2015 and with Russia on 20 September 2016.
Vanuatu economic citizens enjoy dual citizenship rights.
There is a also permanent residency program in Vanuatu. Permanent residency ID card is possible in Vanuatu upon buying a property for USD 100,000 or proving a monthly income of USD 2500. Citizenship under this route possible after 10 years of living in Vanuatu under this option under the naturalisation process. The costs for ID care are $10,000 for individuals and $12,000 for family.
Currently Saint Lucia and Dominica are the cheapest passport programs in the World. The key difference between Vanuatu and other caribbean programs is Vanuatu passport has visa free access to Russia, while other passports do not but Vanuatu is bit expensive at par with Grenada with the $200,000 price tag. Grenada passport has visa free travel to China but not for Russia.