Besides the beautiful and peaceful environment of Vanuatu, which consists of 83 islands, there are many reasons why this country is attracting many global investors. Over one hundred languages are spoken in Vanuatu, with English, French, and Bislama as the three main languages. As a huge advantage, securing citizenship after obtaining it is easy and inexpensive. The citizenship by investment program is only possible through the Development Support Program. Anyone above 18 can apply, and no language test, minimum stay, or business knowledge is required. The main reasons why Vanuatu is offering ideal citizenship by investment program are:
The incredibly fast citizenship approval process
The government can issue the Vanuatu passport in 45-60 days. To apply for second citizenship, the principal applicant needs to apply for the following:
- Pre-approval phase: For this phase, the principal applicant must provide their passport, certified ID card such as driving license, a police clearance report showing the clean criminal background of the applicant, and a CV. A USD 5,000 fee should also be paid at this stage.
- Gaining pre-approval and submitting the investment: The applicant will receive the written pre-approval document from the Vanuatu government Financial Intelligence Unit and make the full payment, plus provide further documents.
- Document submission screening: In this stage, the applicant’s documents will be screened by the government for a final inspection.
- Citizenship approval: The prime minister will approve the applicant’s citizenship with the president, who signs the citizenship certificate directly.
- Taking citizenship oath: Taking the citizenship oath is mandatory but can be done remotely, in any Government of Vanuatu Consulate or global nominated office.
Affordability of the program
The principal applicant must donate USD 130,000 to this program (plus government fees) or USD 180,000 to cover a family of four. On average, it means applying for a second passport for only USD 60,000, a unique opportunity globally. Aside from its affordability, the major plus to this program is that Vanuatu citizenship is hereditary.
The global mobility
Vanuatu is a member of the British Commonwealth. The country’s citizens have access to 125 countries, including the UK and the members of the European Union, Hong Kong, Singapore, and Russia.
Exceptional business opportunities
Exceptional tax policies adopted by the government of Vanuatu are another factor that has caught the attention of global investors. Aside from costumes tax and VAT, the nation is tax-free. Both international and national corporations based in Vanuatu have no associated tax charges, and the profits made by such corporations are not subject to tax. This strategy has successfully attracted many international banks and corporations to make Vanuatu their starting point for running a business or opening new branches in this country. Besides, the Vanuatu government has significantly facilitated company formation and management to attract more wealth from around the world.
Affordable real estate
Relatively cheap real estate is another plus for foreign investors who want to invest in this field. It is also possible to buy a whole island in Vanuatu. The country’s growing tourism industry guarantees that real estate and rentals are always in demand.