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Vanuatu Citizenship By Investment 2020 | Vanuatu Passport By InvestmentGoldenVisasAdmin2019-11-25T13:59:37+00:00
Vanuatu Citizenship By Investment 2020
Vanuatu Passport By Investment
Looking for the fastest, most affordable second passports in 2020? The South Pacific Ocean nation of Vanuatu offers third country nationals the ability to obtain a powerful second passport by investment, fast and affordably.
Find out more about the benefits of Vanuatu citizenship here, or contact us now to request a free consultation.
Formally known as the Vanuatu Development Support Program (DSP), Vanuatu’s passport by investment program is technically a passport by donation program. Established in 2017, the DSP replaced the Vanuatu Economic Rehabilitation Program (VERP), which offered “honorary citizenship” to third country nationals who contributed significantly to the economic development of the country. The DSP’s stated objective is to support national infrastructure development and promote economic growth. Since its launch in 2016, the program has raked in over $200 million for the Vanuatu government – that’s around one-third of its total income.
As of August 2017, the donation requirement for a single applicant was lowered to $130,000, excluding due diligence and professional service providers’ fees. Successful applicants gain the right to reside in Vanuatu permanently, and this form of honorary citizenship is hereditary, making Vanuatu citizenship a highly effective Plan Be against geo-political and socio-economic risks in your country of origin.
The Development Support Program was created under Citizenship Act CAP 112 S 20, and by 2018 saw its revenue grow by over 280%. By this point, the DSP’s revenues constituted over 30% of the Vanuatu government’s total revenues, arguably making it one of the most successful citizenship by investment programs in the world against its stated objectives.
THE CITIZENSHIP APPLICATION PROCESS
STEP 1: Pay your non-refundable service fees, and submit a certified copy of your existing passport, as well as a police clearance report, medical certificate and personal information.
STEP 2: Upon receiving written pre-approval from the FIU Applicant, you can compile all supporting documentation and complete all application forms as guided by your Development Support Program Representative. The payment of your processing fee is due upon submitting the application.
STEP 3: Your application is submitted for pre-submission review to the Citizenship Commission. Your application form must be received at least 8 days prior to the meeting of the Citizenship Committee at the end of each month.
STEP 4: The Screening Committee considers your application one day before the Citizenship Commission meets and makes a recommendation to the Citizenship Commission.
STEP 5: After the Citizenship Commission approves your Application, an Agreement in Principle (AIP) is issued to the Representative. The AIP process takes 7 to 14 days to complete.
STEP 6: The final step involves taking your citizenship oath. This will be commissioned by the Vanuatu government’s Commissioner of Oaths, after which you’ll receive your Certificate of Citizenship an your new Vanuatu Passport, subsequently.
Why choose Vanuatu for second citizenship
TAX BENEFITS: Vanuatu boasts a 0% tax rate, apart from VAT (charged at 12.5%) and customs duties, making it internationally sought after as an offshore tax haven. The country has no income taxes, capital gains or estate taxes, no wealth taxes, nor any gift takes or personal income taxes. The country would therefore also make sense as as place of tax residency for digital nomads and expats.
FAST TRACK CITIZENSHIP: Obtain your second citizenship in Vanuatu in as little as 45 days from commencement of the application process.
QUALITY OF LIFE: Living is safe, easy and outdoors focussed in this South Pacific Ocean country – significantly, Vanuatu is rated as the 4th happiest nation on earth.
EFFECTIVE PLAN B: Offering a set of “best of breed” CIP programme benefits, with affordability, passport power and speed of application being key considerations, Vanuatu is one of the world’s most underrated destinations for obtaining a second passport by investment.
INCREASED GLOBAL MOBILITY: A Vanuatu passport is your key to discrete, visa free global travel. Vanuatu passport bearers enjoy visa-free access to 128 countries around the world, including Russia, Schengen Europe, Hong Kong, Singapore and the UK, to name but a few key business destinations.
Given the increasing complexity of gaining business visas for countries such as the UK and Russia, the Vanuatu passport makes a lot of sense for business professionals needing to travel to these countries on a frequent basis.
EASE OF DOING BUSINESS: Thanks to streamlined government regulations and application channels, opening a bank account and establishing a business in Vanuatu is a fast and seamless process.
REAL ESTATE AFFORDABILITY: Relative to the quality of residential property on offer, Vanuatu offers unparalleled value. Whether you’re after a luxury beachfront villa or a full island, your budget will go a lot further in Vanuatu than in many other countries.
OFFSHORE COMPANIES: The Vanuatu International Companies Act closely mirrors other International Business Company (IBC) legislation around the globe. Apart from boasting a 0% corporate tax rate for international and domestically resident companies, companies are also exempt from exchange and capital controls. There are no audit requirements, and accounts don’t need to be filled.
WHY CHOOSE US
Golden Visas gives immigrant investors access to some of the world’s fastest and most affordable citizenship programs, including the Vanuatu Passport By Investment Program. Cypriot and Moldovan investment passport programs. We specialise in Golden Visas and economic citizenship programs, and collaborate with only the finest investment migration advisors across 20 countries to bring you only the finest, tailor-made solutions.
Simply complete the form below to get in touch today. Please note that our annual client intake volumes are limited, so contact us now now to avoid disappointment.