Did you know that there’s more than one way of obtaining citizenship in a new country? Most of us become citizens of the regions our parents belong to and remain there forever, mostly by choice, but sometimes because there is no other option. But today, it’s possible to change your citizenship by simply investing some money upfront. Vanuatu citizenship is a program designed for foreign investors to get a passport and citizenship to contribute to the country’s economy.
What is Vanuatu?
Vanuatu is a chain of 83 islands located in the Pacific Ocean. These sling-shot-shaped islands are found between New Zealand and Australia. At the south of the Pacific Ocean, the area covered is somewhere around 1300 km. Citizenship by investment in local development can be obtained by investing a little over 100k USD. This program, also known as the development support program, was adopted in 2017. Although it was founded in early 2016, it took almost a year for the government to adopt the program in order to stimulate the economy and create more jobs.
Benefits of the Vanuatu Citizenship Program
The Vanuatu citizenship program has many benefits, including a passport, access to 100+ countries, tax-free zone, and many more. Some of the primary benefits are listed below:
Visa-free access to 100+ countries
The holders of Vanuatu citizenship are allowed access to 113 countries without the requirements of visa or a visa-on-arrival basis. The countries also include the European Union and the United Kingdom. A mutual waiver agreement with Russia is another perk associated with the Vanuatu program.
Vanuatu is almost tax-free
Vanuatu is a zero-tax jurisdiction. It has:
- no income tax compliance
- negligible wealth or corporate tax
- no capital gains tax
- zero withholding tax
- no gift tax or any other personal tax
- No financial requirements
- Only 15% locally applied VAT
Being a zero-tax jurisdiction gives a very strong reason to invest here since it’s super business-friendly. Moreover, there’s guaranteed banking confidentiality and no tax exchange agreements. Even property and inheritance doesn’t amount to any taxes.
10-years valid renewable passport
The passport you will be getting upon funding the citizenship program will be valid for 10 years. It will be renewable for another decade. With the passport, you can stay up to three months in a Schengen country provided it’s within 6 months. And in the United Kingdom, you can stay for about six months in a year.
Commonwealth Citizenship
All Vanuatu citizens are considered as Commonwealth citizens since Vanuatu is a Commonwealth member. This gives any candidate additional rights in Commonwealth countries, including the United Kingdom.
Accommodation of a family of four with minimal additional cost
The Vanuatu citizenship program is great for families, especially families of four. You can apply for your family:
- You (the main application)
- Spouse
- Children (under 18)
With minimum additional pay, successful candidates can easily get citizenship for the entire family.
Who is eligible for Vanuatu citizenship?
The principal applicant should be over 18 years old. No criminal record will be entertained. The candidate should have a clean criminal record with no signs of unlawful activity whatsoever. The applicant should not have any chronic illness. Other than that, a bank account balance of USD 250,000 and above and a legal source to fund the program are required. The children of the applicant should not be over 25 years of age and should be students. Financially independent children would not be entertained as a child of the applicant and might owe a difference in the payment structure.
Final Words
The Development support program that offers Vanuatu citizenship is a great way to get new citizenship and enjoy the perks associated. Being a Vanuatu citizen has more benefits than one can ask for, and the best part is that it’s great for personal and commercial interests. Looking at all the benefits above, it can be safely said that the investment in the local program has a great ROI and is too good an offer to leave on the table.
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