Vanuatu’s citizenship by investment program is currently one of the fastest and most affordable in the world. The main advantages include the speed of processing (2-5 months), a simple procedure, and a high approval rate for applications. Moreover, Vanuatu does not require disclosing the source of funds, which significantly expands the opportunities for investors and even allows using income from cryptocurrency sales to participate in the program.
This article answers questions that potential investors may have.
What options are available for obtaining a Vanuatu passport?
Currently, there are officially three options for participating in the program.
Option 1. The Vanuatu Development Support Program (DSP), which has been successfully operating since 2017. Under this option, the investor must make a non-refundable contribution to the state fund in the amount of $130,000. A passport can be obtained for the entire family – the amount will be multiplied for each family member in the application:
- For the main applicant – $130,000;
- For a family of two – $150,000;
- For a family with one child – $165,000;
- For a family with two children – $180,000.
Option 2. A new government-approved option – a non-refundable contribution to the Cocoa Development Fund (CIIP). Under this option, an investment of $150,000 is proposed. The entry threshold is the same for a single applicant and for a family of up to 4 people: an additional $25,000 will be required for each subsequent family member.
This option may be a more advantageous solution for families with children than the classic DSP investment option, which is the most optimal option for an individual application.
- For the main applicant – $150,000;
- For a family of two – $150,000;
- For a family with one child – $150,000;
- For a family with two children – $150,000.
Option 3. Investments in the Coconut Oil Production Support Fund. This option was launched in November 2023 and involves a contribution of $165,000 (including the cost of applicant screening).
Up to 4 family members can be listed in the application. It is expected that part of the funds can be returned, but there is no exact information yet on what percentage of the investment will be returned to the investor, nor on the exact terms of the return.
In addition, the investor will need to register a legal entity in Vanuatu, which implies a personal visit to the country and additional obligations to the tax authorities of the country of primary citizenship.
What requirements are imposed on the investor and family members?
Regardless of the option chosen, the main applicant must be an adult, have no criminal record in the country of residence, and be able to confirm the availability of funds or assets in the amount of at least $250,000. Family members – a spouse, dependent children under 28 years old, parents, grandparents over 50 years old – can be listed in the application. Investors are not required to take exams on knowledge of the country’s laws, go through interviews, or confirm their level of proficiency in any foreign language.
Important! Citizens of Iran, Iraq, Yemen, Syria, and North Korea cannot participate in the program. An exception may be made only for those citizens who have not resided in these countries for more than 5 years and have a permanent residence outside of these countries.
Do I need to visit the country to obtain a passport?
No, the entire procedure can be done remotely – visiting the country is not required either before or after obtaining citizenship by investment.
Do I need to renounce my current citizenship?
No, Vanuatu does not require renunciation of your current passport – the country allows dual citizenship.
How do I renew a Vanuatu passport?
A Vanuatu passport is valid for 10 years, after which it must be renewed. This can be done through the country’s consulate – it is not necessary to visit the country in person. The renewal fee is $80-200, depending on the processing time. You will need to provide the expired passport, certificate of naturalization, photos, and a completed application.
Where can I travel with a Vanuatu passport without a visa?
A Vanuatu passport allows visa-free travel to over 90 countries around the world, including Australia, Hong Kong, and Singapore.
The visa-free regime with Schengen countries has been temporarily suspended since May 2022. The issue of resuming visa-free travel to Europe will be reviewed by the European Commission in August 2024.
What are the other advantages of Vanuatu citizenship?
In addition to the speed of processing, relatively low cost, and the ability to obtain citizenship for the entire family, the investor receives the following benefits:
- Simplified process for obtaining visas to other countries, including Europe.
- Favorable tax conditions: Vanuatu has no tax on worldwide income, capital gains, gifts and inheritance. An important point: tax residents of Vanuatu can take advantage of the tax conditions, and for this it is necessary to spend at least 183 days a year in the country. International legal entities in Vanuatu pay an annual duty of $300 instead of corporate income tax – this regime can be formalized for 20 years.
- Access to international banking services;
And of course, along with citizenship, the investor and their family members receive a reliable backup option, allowing them to mitigate personal risks in the face of geopolitical instability.
What are the reasons for being denied a passport?
Vanuatu’s citizenship by investment program has a very high approval rate for applications. Nevertheless, you may be denied if you provide deliberately false data and implausible information, forged or invalid documents. Rejection awaits investors who cannot confirm their financial well-being, as well as those with criminal records.
Astons is an international consulting company that has been successfully operating in the investment immigration sector for over 30 years and is the largest licensed agent for Vanuatu’s citizenship by investment program. If you have any remaining questions, please contact our experts for a free consultation.