The Pacific Islands nation of Vanuatu is attempting to get in on the citizenship-by-investment industry by offering a competitive investment threshold and short processing time.
A candidate, spouse and two children under 18 can access the program for $260,000, with applications processed in as little as four weeks.
It means the Vanuatu Capital Investment Immigration Plan is competitive on investment threshold with some of the Caribbean programs, with the passport offering visa-free access to 126 countries, including the Schengen zone of the European Union.
Benefits of Vanuatu Citizenship
- No income tax for individuals or companies.
- No death duty.
- No capital gains tax.
- Freedom to move money.
- Visa-free travel to 126 countries including Schengen zone and Russia.
- Dual-citizenship allowed.
- Access a tropical island paradise.
- English one of the official languages.
The government is hoping the lure of a tropical paradise island with English as one of the official languages is enough to motivate high net worth individuals to avail of the program.
Other perks include no income tax for individuals or companies, no death duty, no capital gains tax and freedom to move money in and out. The country also recognizes dual citizenship, so there is no need for an applicant to give up their other passport.
Officials also recently reached agreement with Russia for visa free travel, a major step forward for a relatively new competitor on the investment immigration stage.
Vanuatu also offers permanent residency options for investors.
Two popular streams include investing $55,000 in a timber company approved by the Vanuatu Investment and Promotion Authority (VIPA), or the purchase of four farmland lots for $15,000 each, so a total of $60,000.
The permanent residency category also requires a minimum monthly income of $2,500 per person on the application, and the purchase of property worth around $100,000.
Permanent residents can apply for citizenship after 10 years.
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