If you are seeking a heavenly place to reside on Earth, it has to be Vanuatu, situated in the South Pacific Ocean. An island, Vanuatu, has magnificent landscapes and exquisite beaches and was voted “the world’s happiest place” in 2006.
Apart from this, Vanuatu is perfect for people who wish to spend their lives in quiet, apart from the world’s crowds and noise. All these aspects make it a popular option among people seeking a second country to take up citizenship. The country’s budget includes a significant part of the income generated through its citizenship through an investment program.
The process of obtaining citizenship in Vanuatu through investment, as per experts, is a little confusing, with ample rules and regulations. However, reliable platforms such as Global Residence Index can help you navigate the process smoothly.
Here is a valuable guide to Vanuatu Citizenship by Investment program with Global Residence Index.
The Basics of Vanuatu Citizenship by Investment Program
Since the most used language in Vanuatu is English, apart from Bislama and French, it becomes easier for most people to navigate the process. Also, the best aspect of the program is that you need not move physically to Vanuatu if you desire to purchase a property in Vanuatu.
There are two citizenship programs in existence in Vanuatu: The Vanuatu Development Support Program (VDSP) and The Vanuatu Contribution Program (VCP).
These two programs are one of the easiest ways to get citizenship in Vanuatu through investment. While the VCP program focuses majorly on countries such as Taiwan, Hong Kong, Macau, China, Taiwan, and the Far East, the VDSP is run by government agents worldwide.
VDSP was launched in the year 2017 with the motive of lending a hand in growing Vanuatu’s economy and supporting its infrastructure development.
Also, these programs allow the investors to pay for the program through Bitcoin, which has to be paid to government-authorized agents. The money then needs to be remitted to the Vanuatu government in US dollars.
Why Go For Vanuatu Citizenship by Investment Program
Here are some significant benefits of acquiring the Vanuatu citizenship program, which makes it stand out from the crowd.
1. Remote Processing
One of the best aspects of the citizenship program is that it does not require you to be physically present at the time of application processing. However, it can be done remotely and is highly streamlined.
Also, you need not have to meet any kind of residency requirements as per the citizenship program. This implies that you do not have to reside in Vanuatu to purchase real estate physically.
2. Quick Processing of Application
Experts say that Vanuatu is a country with less processing time for citizenship applications. In fact, it only takes a maximum of 8 weeks to complete application processing. Thus, if you are seeking a citizenship program with less processing time, you should opt for the Vanuatu program.
3. Easy Tax Terms
Another best aspect of the Vanuatu citizenship program is the easy tax terms applied in the country. For example, Vanuatu does not impose taxes on any worldwide income, such as inheritance, rewards, or dividends.
Also, the person acquiring Vanuatu citizenship can easily open accounts in European banks.
4. Visa-Free Travel
Vanuatu, with its good international relations, has been able to expand its visa waivers to 98 countries worldwide. Thus, investors who acquire a Vanuatu visa can visit 98 countries without the need for a visa.
These nations include Singapore, the UK, Hongkong, and the investor even enjoys eligibility for B1 or B2 US visas. Even Vanuatu citizenship holders can apply for a long-term visa in Australia.
Cost of Acquiring Vanuatu Citizenship by Investment
The cost of acquiring Vanuatu citizenship depends upon the number of applicants.
If one applicant is applying, he needs to pay $130,000; if a spouse has to be added, one needs to pay $150,000. A family of three must pay $165,000, and a family of four must pay $180,000.
Requirements for Applying
The principal applicant needs to be 18 years or above to apply. Also, persons with a criminal record are not applicable for getting citizenship.
In addition, the investor has to submit a certificate of being in good health, as the Vanuatu citizenship program does not submit people with contagious or severe illnesses. Apart from this, the investor needs to pass through Vanuatu’s Financial Intelligence Unit’s test.
Also, the investor’s financial assets should be a minimum of $250,000 or more. Thus, keeping a minimum balance of the said amount in your bank before applying for the citizenship program is advisable.
Once the investor’s financial documents are reviewed, and the approval stage is over, the investor has to pay 70 of the investment amount. If the investor fails to do so, the application can be rejected.
Vanuatu is a beautiful island, and due to its different attractions, many people would like to have a chance to stay here. Well, this becomes possible with the country’s citizenship program. The need remains to take assistance from a licensed professional platform such as the Global Residence Index. These professionals can easily take you through the application process’s different aspects while taking care of the diverse intricacies.
Also, their consultants can help you make the application process flawless and easier. Happy acquiring citizenship!
This article is contributed by an expert guest author.