- October 10, 2017
- Posted by: CIP Journal
- Category: Citizenship
Vanuatu becomes the first country in the world to accept bitcoins under the citizenship by investment programme.
Bitcoin prices have soared exponentially in 2017 and now even you can buy a second citizenship using the crypto currency Bitcoin.
Vanuatu offers citizenship to foreign investors for USD 200,000. Prices are likely to hit $5000 per bitcoin in the future.
You can buy a citizenship of Vanuatu using 41 Bitcoins which approximately equals to USD 200,000 at todays rate of $4,813 using bitcoins.
Vanuatu becomes the first nation to accept bitcoin in exchange for citizenship through investment. Other countries running citizenship by investment programme such as St Lucia, Dominica, Grenada, St Kitts and Nevis, Antigua and Barbuda, Malta, Cyprus do not accept bitcoins as a mode of payment under CBI programme.
Bitcoin is slowly penetrating into real estate market. In Dubai, a real estate developer sells homes for 50 bitcoins worth $250,000, reported by CNN money
The Vanuatu Information Centre (VIC) announced that its Development Support Program (DSP) will allow foreigners to qualify for Vanuatu citizenship through a one-time payment of $200,000 – or its cryptocurrency equivalent, as reported by Vanuatu Independent.
According to RNZ , Managing Director of the Vanuatu Information Centre (VIC) Network James Harris said cryptocurrency transactions were traceable. “There remains some suspicion surrounding the use of cryptocurrency in financial transactions, and some fears that it can be related to undesirable activities. In fact, the opposite is true, as cryptocurrency exists in a fully traceable ledger where the entire history of its creation and trading is visible.”
VIC chairman Geoffrey Bond said there had been attempts in the past to allow citizenship by investment payments using Bitcoin but these efforts did not attract government approval. “However in this case, the Government of Vanuatu has explicitly expressed a desire to be at the forefront of adopting new technologies, officially encouraging the VIC to receive payments in Bitcoin.”
“It gives me great pleasure to invite you to consider our beautiful Island Nation as your future home. Through participating in our Development Support Program you will be granted lifelong “Honorary Citizenship” of Vanuatu. As a “Ni-Vanuatu”, you become a proud citizen of what has been declared one of the most desirable and happy places on the planet – and, as a Vanuatu passport holder, discover a global freedom that you only ever dreamed of”, said Deputy Prime Minister, Hon Joe Y Natuman, MP posted in VIC website
It’s the agent, not the government, that’s accepting BTC. And you may be able to pay anonymously, but you can’t apply for a passport anonymously. Assuming that the agent has done his job, every applicant will be thoroughly vetted, reported Vanuatu Daily Post.
The key benefits of Vanuatu citizenship are
- Second passport – global freedom and privacy in moving around the world.
- Visa-free to 125 countries – UK & whole of Europe, Russia, Hong Kong, Singapore.
- The only Citizenship by Investment (CBI) program of its kind in the Asia Pacific Hemisphere.
- Tax-free country (other than the indirect taxes of VAT and Customs).
- International off-shore finance centre since 1972.
- International Banks present – such as ANZ Bank, Bred Bank, BSP (Bank of South Pacific)
- Simple company and bank account formation procedures.
- Stable, peaceful country – does not even have Regular Armed Forces.
- An English/French speaking British Commonwealth Member Country.
- Simple and fast application process – as little as 45 days.
- Simple, transparent pricing structure. Attractively priced – particularly for family applications.
- A stunning tropical island nation – both for tourism and living.
- Low cost real estate – from prime beach front to whole islands for sale.
- Secure, long term land tenure – all land Government owned and leased. Nominal rental rates.
- A country with tremendous economic growth prospects and investment opportunities.
- Second home for your family – safe and friendly.
- Tax efficient country – zero tax, making it a great tax haven.
- Corporate set up and Banking – avoidance of high taxes in current place of residence by utilizing the Vanuatu option.
- Officially, Vanuatu is the 4th “Happiest Place in the World”.
All applicants must go through due diligence process and provide police clearance and medical certificate before being approved of citizenship in Vanuatu.
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 and participate in the Oath of Allegiance ceremony upon which they will be granted their citizenship and receive their Vanuatu passport.
The applicant will then be entitled to full Vanuatu citizenship benefits and rights, and ensured of visa free travel on their Vanuatu passport to 125 countries.
Citizenship in Vanuatu is for life, and is hereditary. There is no requirement for the citizen to visit Vanuatu.
Please contact us for more information. We assist clients with citizenship in Vanuatu.