For those who want solitude among the incredible beauty, the ideal place would be a tropical archipelago in the Pacific Ocean – Vanuatu. It is as far away from the civilized world as possible. In addition, there is a program for obtaining citizenship for investment. No one else in the Pacific region has such advantageous offers. Let’s look at what this program offers, learn its rules and regulations, and understand how to obtain Vanuatu Citizenship by investment.
Why Vanuatu?
It is the only way to get a passport for investment in the Pacific region. Vanuatu is 83 islands, 68 inhabited, and spans more than 1,300 kilometers. Its proximity to Australia and New Zealand ensures close ties with these countries.
Vanuatu has been called “the happiest country on earth,” probably because of its remoteness. The second reason is the magnificent pristine nature, clean air, water, and food. The official languages are English, French, and Bislama. But you can hear more than a hundred different dialects on the islands. The economy is based on four pillars: agriculture, tourism, financial services, and animal husbandry.
Vanuatu has a tropical climate. The weather is mostly hot and humid, tropical storms are frequent, and the archipelago also suffers from earthquakes. However, the islands are prepared for these natural disasters.
Vanuatu’s passport allows visa-free travel to more than 130 countries, including Great Britain and the Schengen Area. There is no personal income tax or capital gains tax. The citizenship for investment program is simple: applications are accepted and processed within two months.
Benefits of Citizenship for Investment
According to Evgeniya Morozova, an expert of the agency Immigrant Invest, the main advantages of getting a Vanuatu passport are:
- the lowest initial costs;
- there is no minimum duration of stay requirement;
- no language requirements;
- peaceful, environmentally friendly environment;
- the possibility of transferring citizenship by inheritance;
- the most effective application process.
Citizenship programs aimed at foreigners generate good profits for the country, the percentage of which continues to grow. Each of these programs has its features.
The Financial side of Obtaining Vanuatu Citizenship
Today, there are several Vanuatu citizenship by investment programs, the most popular of which are the following two:
- Vanuatu Participation Program (VCP) targeting mainland Chinese customers.
- Vanuatu Development Support Program (VDSP) is available to citizens of any country in the world.
But don’t be alarmed; it’s extremely easy to get CBI in 2022. All you have to do is make a one-time donation to a local government:
- $130,000 for a single applicant;
- $150,000 for a married couple;
- $180,000 or more for a family of four.
Additional dependents can be added for an additional fee of $25,000 each. You will also have to pay a registration fee: of $5,000. The agent assisting you with the paperwork may increase these rates, but the amount should not exceed $135,500.
The process of obtaining citizenship is very fast: at most eight weeks. According to Immigrant Invest specialists, this is the only CBI program that can offer such a time frame.
Step-by-step Algorithm for Obtaining a Vanuatu CBI
Before you apply, you should find out who is eligible for a Vanuatu passport. The country has some requirements that ensure that you are an individual with a good reputation and a decent financial situation:
- prove personal net worth of at least $500,000, of which at least $250,000 must be bank assets;
- you must not have a criminal record;
- you must have a high position in your country;
- you must not have lived permanently in Iraq, Iran, Syria, North Korea, or Yemen within the last five years;
- you cannot be on any of the sanctions lists around the world.
If you meet these requirements, you can apply for Vanuatu citizenship. There are three steps to do this. First, submit a pre-package and pre-payment; once approved, apply for citizenship, make full payment and wait for your passport. It will take 30 to 60 days for the government to make a decision.
The final step is the swearing-in ceremony, which usually takes up to 30 minutes. There are two options for taking the oath: in Vanuatu before the commissioner or before government officials at a location you specify. The latter option will incur additional costs, as you must pay for travel and lodging for Vanuatu officials at the nearest consulate.
You will also need to pay an additional $400 fee, which includes $250 for the passport application, $50 for the citizenship fee, and $100 for the certificate. After you receive the certificate, you can finally get your passport.
There is an alternative option for those who do not want to pay the government of the paradise islands. To qualify for permanent residency in Vanuatu, you can buy real estate or invest at least $ 100,000 and have a monthly income of at least $ 2,500. Then you can enjoy all the benefits of being a citizen of Vanuatu: clean air and water, fabulous beaches, zero taxes, the best international schools, and remoteness from the industrial world. When you have lived on the islands for ten years or more, you can eventually become a naturalized citizen of Vanuatu. But if your goal is citizenship, and there is no desire to wait many years, you can always find $130,000 and get your passport in a few weeks.
