Vanuatu CBI Program – A Complete Processing Guide
Vanuatu is a beautiful land located in the oceans of the pacific. In the region of Asia Pacific, only Vanuatu is offering citizenship by investment program. As we can see, the country consists of more than 80 islands and 13 plus principal chains. Vanuatu has achieved the position of an independent land in 1980. Similarly, Vanuatu is a land of rugged huge mountains and turquoise blue beeches. Moreover, Vanuatu’s economy majorly depends on subsistence agriculture trade within and outside of the country. Since 1980 after the independence of Vanuatu, the government is focusing hard on increasing tourism in the country to improve the economy of the country. Later, the government introduced Vanuatu Citizenship by Investment Program to bring some major improvements in the economy.
Background of the Program
Initially, In 1990, Vanuatu took some measures to sell citizenship but later they did feel is not an appropriate way and made some major changes to revive the new citizenship scenarios. Therefore, Vanuatu has introduced its Capital Investment Immigration Plan in 2014 which was later replaced by the Vanuatu Real Estate Investment option program later in 2016. In March 2017, the real estate option get collaborated with Vanuatu Development Support Program (VDRP) & Vanuatu Contribution Program (VCP). Vanuatu citizenship program has seen a major boost in 2019. In the respective year, Vanuatu has issued more than 1800 investor applications. Moreover, 4000 CBI passports have been granted. As a result of all these great achievements, Vanuatu is now ranked at an equal place as Caribbean CBI schemes.
Ranking of Vanuatu CBI Program
2019 was a great year of achievements in the Vanuatu Citizenship by Investment program. In order to issue so many successful applications, Vanuatu ranks on No. 6 in World CBI Index 2020 by The Financial Times, a report by Professional Wealth Management (PWM).
Perhaps, the government of Vanuatu has made a major change in its citizenship by investment program and cut the amount from $220,000 to $150,000 in 2018.
Vanuatu Citizenship by Investment Options
Vanuatu Development Support Program (DSP)
This program awards the investors with honorary citizenship starting with a donation amount of $130,000.
Vanuatu Contribution Program (VCP)
The program is for foreign investors and offers economic citizenship of value of $130,000.
Real Estate Investment
Investors who become economic citizens can buy a real estate property for free.
Requirements to apply for Vanuatu CBI Program
Firstly, The main applicant should have an identity document e.g. passport, CNIC, and passport-sized photos at the time of initial documents submission.
Above all, there is no residency requirement for the applicants and dependents to get citizenship.
Moreover, a police clearance certificate and due diligence test clearance is a must to avail citizenship.
The main applicant and dependents need to provide proof of excellent health.
Fee Breakdown for both DSP/VCP
- Main Applicant: $130,000
- Main Applicant + Spouse: $150,000
- Couple + Child: $165,000
- Couple + Two Children: $180,000
- Additional Dependents (Children): $10,000 per person
- Due Diligence fee: $5000 for single application
Note: Government contribution fee for spouse & children will be added to the above-mentioned amount. The agent’s legal fee and Oath ceremony fee are not added to the respective fee breakdown.
Major Changes in Vanuatu CBI Program During 2020
- The amount for due diligence test is now $5000 from $2000 as it’s now a third party, Global Due Diligence Firm operates it.
- Vanuatu citizenship by investment program is now accepting online applications as applicants can now submit applications online.
- Other documents including police clearance certificate, passports, CNIC &, etc. would be are now directed by Due Diligence firm or FIU.
- The processing time at FIU will be 4 days now instead of two days. Additionally, Passport time will take a bit longer too to verify the documents properly.
Why Choose Vanuatu CBI Program?
Vanuatu CBI Program has many advantages but the 30 days fastest processing route is one of the reasons why it is becoming an investor’s priority. No one likes to wait for months and years to get the passport. In addition, to achieve a second passport, you will always go for an option with minimum days of processing the application.
Being a Vanuatu Citizen, you are allowed to travel 125+ countries without any visa restrictions. Investors invest such huge amounts to achieve global mobility. However, this second passport will allow citizens and their families to move freely to many countries like Russia, the UK, Ireland, and Europe.
There are countries that demand to abolish the current nationality before attaining an alternate passport. Vanuatu allows the investors to keep dual citizenship, there is no need to abandon your current citizenship. This way, investors can expand their businesses to both countries and get the best rewards on their investments.
People who belong to third world countries often look for a better citizenship option. As we know, such countries can get under sudden economic crises, terrorism attacks, or any uninvited calamity. Moreover, having a second passport of a country like Vanuatu always works as a Plan B in case of any economic and climatic crisis. Vanuatu is a very neutral, culturally accepting state for the new people.
Best Taxation Plans
Living in a country where the economy is unstable is always a No for people as they have to pay huge taxes on everything. Vanuatu offers huge relief on taxation and gives the best plans to the citizens for tax breaks. Similarly, there is no tax on world income and capital gains.
Most Importantly, Vanuatu seems like a small land but offers countless opportunities to its citizens. The country offers high standards of livings and being a citizen you are free to live, study, and work there. Similarly, being a Vanuatu citizen, you can get access to the best educational institutes and healthcare facilities.