Vanuatu is one of the youngest players in the investment immigration market. The country’s citizenship by investment program was launched in 2014 and has become one of the fastest growing programs in the Citizenship by Investment market. The passport is ranked 41st in the Henley 2021 Passport Index, with visa free access to 130 countries. Here are some of the advantages of the program:
1. Freedom of movement.
The holders of Vanuatu passport have visa-free access to 130 countries. There is a zero possibility of you being questioned by authorities at any airport or port upon arrival to the UK, Singapore and the Schengen Area. This makes travel much easier, saves the time you previously spent on obtaining travel documents.
Furthermore, the residents of this Pacific state are allowed to stay in the Schengen countries without visas for up to 90 days within any 180 day period, and for 6 months a year in the UK.
2. Favorable tax environment.
The country’s tax system is based on the principles of loyalty. There is no tax on the global income, inheritance and capital gains. According to the World Bank, Vanuatu is one of the top 100 countries in terms of ease of doing business.
3. No need to fly across the ocean to get a passport.
It is not necessary to come to the islands halfway around the world neither before nor after issuance of a passport. Documents may be submitted in Hong Kong or Dubai. Citizenship application is handled exclusively through a licensed agent. The list of agents is approved by the government.
4. Confidentiality of the application process.
Information on obtaining the second passport is discrete and is not reported to the country of first citizenship. Vanuatu recognizes dual citizenship.
5. Transparent application procedure.
Before submitting a package of documents, the applicant pays due diligence fees and 25% of the required contribution. The remaining part of the contribution must be paid only after the government approves the application.
6. Passport for the whole family in a very short time.
Along with the main applicant, Vanuatu citizenship may also be granted to a spouse, children under 25 years and parents aged 65 and above.
There is no other country except Vanuatu where the application process is this quick. Even in the Caribbean, it takes from 3 to 5 months. The duration of the citizenship application process in Vanuatu is two months.
7. Citizenship is granted for life.
Dependents together with the main applicant obtain citizenship for life. However, as far as passport is concerned, it is issued for a period of 5 years with the right of subsequent extension for a five-year period. There is no need to visit the island to renew a passport. Citizenship may be passed down to descendants (inherited).
Cost of a Vanuatu passport
The Vanuatu passport program attracts investors primarily due to the relatively low investment threshold and short application process. By the way, this is the only immigration program that is available in Oceania.
To participate in the program an applicant is required to contribute at least $130,000 to the country’s National Development Fund. This is a non-refundable contribution. The total cost of Vanuatu passport depends on the number of persons included in the application and on the amount of additional fees to be paid by the investor.