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7 Reasons To Obtain A Second Passport Of Vanuatu & Its Cost

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7 Reasons To Obtain A Second Passport Of Vanuatu & Its Cost

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Austria Citizenship By Investment Program

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This plan would offer passports to investors, but the scheme failed when the promoters were charged with fraud. Due diligence and supporting documentation requirements are more relaxed than most economic citizenship programs. Vanuatu government has newly launched citizenship by real estate investment program in 2021. The Citizenship Program was enacted under section 13F of the Citizenship Act [CAP. After paying the investment and fees, our lawyer in Vanuatu receives a certificate of honorary citizenship along with a passport and sends it either to one of our offices or redirects it to you. We will remind you to renew the passport 6 months prior to its expiration date.

vanuatu citizenship by investment

He said the company was not registered with the Vanuatu National Citizenship Commission or authorised to promote its citizenship program internationally. Just like other nations, a residency by investment has shifted more rigorous. Previously a person could invest less than $50,000 and become a resident for twelve-months.

Months Citizenship By Investment Program For Vanuatu

To get Vanuatu citizenship, you must make a non-refundable contribution — also known as a donation — to Vanuatu’s local development fund. The purpose of this donation is to support the country’s infrastructure, development, and economic growth in the region. The sale of passports is the largest source of revenue for the Vanuatu government, withanalysis by Investment Migration Insiderfinding it accounted for 42% of all government revenue in 2020. The appeal of a Vanuatu passport includes that it offers visa-free travel to UK and EU countries and that Vanuatu – with no wealth, income or corporate taxes – operates as a tax haven.

vanuatu citizenship by investment

With a population of 272,459 people, Vanuatu enjoys strong relationships with Australia, New Zealand and the European Union. By investing, you can benefit from favorable tax structures such as zero capital gains tax, inheritance tax, and net worth tax. A secondary passport enables you to travel visa-free to more 135 countries across the globe.

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More checks might be conducted to ensure you aren’t trying to evade tax or a criminal record. No, you don’t need to go to Vanuatu to get your citizenship certificate and passport. All you need to do is visit the Vanuatu consulate nearest you or get it from an authorized agent. With a Vanuatuan passport, you can travel visa-free to 128 countries.

vanuatu citizenship by investment

No third-party agent involvement means direct processing and transparency, including lowest permissible fees charges. Visa-free travel to over 140 countries & territories, including the EU and the UK, Hong Kong, Singapore and many other counties. It’s approximately Turkish staying permit 1,750 kilometres east of northern Australia, 540 kilometres northeast of New Caledonia, east of New Guinea, southeast of the Solomon islands, and west of Fiji. Making an investment and moving abroad may seem daunting, we know this from first-hand experience.

The Below Vanuatu Passport Cost Table For 2021

Vanuatu has revoked more than 35 persons for involving in financial fraud and wanted by interpol. Vanuatu can also revoke citizenship for concealment of information or bringing disrepute to the country. The Vanuatu government or citizenship commission do not accept bitcoin or cryptocurrencies.

Due to Covid pandemic, the processing times for GV applications average 10 months plus. Portugal is extremely popular because it does not impose ‘live in the country’ requirement, with a path to EU citizenship. Note that from Jan 1, 2022 Portugal will increase minimum GV investments to 350k euro and these investments will be shifted to inner regions.

Vanuatu’s investment opportunities in areas such as agriculture, tourism, manufacturing, and energy make Vanuatu an attractive destination for entrepreneurs looking to find new partners or expand across the Asia Pacific. Currently, Vanuatu is looking to attract investors with expertise in horticulture and modern farming techniques, leisure property and tourism development, and even in timber and related products processing. Vanuatu citizenship by investment programme offers number of advantages and it is an excellent opportunity for the one to legally obtain a second passport and citizenship.

Given the high cost, VCP may not be much help to the large numbers of people who want to leave Hong Kong for security reasons since the introduction of the National Security Law. But for wealthier passport chasers, keen for the peace of mind that may be granted by an alternative passport, the little green book of a Vanuatu passport might be just the ticket. Women empowerment through investment migration is a two-phase process. The first phase comes in the form of the decision-making process when considering investing in investment migration. Economics professor Stephen Howes, from the Australian National University, said mishandling of the citizenship programs could have a couple of negative consequences for Vanuatu. Most people may find it challenging to navigate through the entire procedure.

Vanuatu Citizenship In 30 Days

Its programme is widely considered to be one of the fastest routes to a second passport. We have our own offices in all relevant countries and constantly monitor the worldwide situation. Vanuatu’s Citizenship by Investment initiative, formally known as the Development Support Program , was fully adopted by the Government of Vanuatu in early 2017.

Second Citizenship by investment in different countries across the EU is feasible to obtain with the assistance of our legal and EU specialist consultants. There are different investment options available within various countries from the United Kingdom to Bulgaria and our consultants know each country you are planning to shift over. Whether you have made up your mind, or are looking for investment-based options through second citizenship by investment in the EU, we are there to help you to make the most livable choice. There are significant benefits to acquiring citizenship by investment compared to the other more conventional routes. It is almost always substantially faster to obtain citizenship by investment than by other means. Where acquiring citizenship would usually be a 5 – 10 year process if you are lucky, this can be reduced to a mere few months by going the investment route.

This individual could reside in France, incorporate and run a business in low-tax Ireland, and enjoy passport-free travel to 26 countries (Europe’s Schengen Area). A passport from one of these countries includes visa-free access to most of the developed world and key parts of the developing world, including most of southeast Asia . Its citizens cannot travel visa-free to the US, China, Japan, Germany, France or the United Kingdom… adding barriers to entering countries with a Gross Domestic Product of $2 trillion or more. If your passport doesn’t allow visa-free travel to North America or Europe, you’re severely limited in your ability to conduct business in many of the world’s largest economies.

  • Dominica is an island country of the Lesser Antilles in the eastern Caribbean Sea.
  • If successful, a citizenship certificate will be issued in your name and you are expected to pay the remaining 75%.
  • We are experts at conducting business in the region, with specialist areas including digital currency, financial markets, administration, government policy advisory, tourism, property and investment industries.
  • Remember below table representsjust donation contribution to Government.
  • The applicant pays the donation only after the decision of the Government of Vanuatu.

On a happier note, the St. Lucian government promises to pay you back your $250,000 bond amount after five years. So technically, the final cost for one passport would just be $37,500. Countries that rely on tourism, such as those in the Caribbean, have taken a painful financial hit recently.

vanuatu citizenship by investment

Furthermore, processing times are just three to four months on average, making it one of the most efficient citizenship programmes in the world. Acquiring Cypriot citizenship has relatively low related costs as the majority of expenses can be considered an investment. The minimum investment amount needed is €2m ($2.1m), which could take the form of government bonds, real estate or a company. The Parliament of Vanuatu has approved amendments to the Citizenship Act which would see the introduction of a Real Estate investment route to citizenship. Currently, it is possible to apply for citizenship by investment in Vanuatu through a donation option.

Mid-year finance data shows that tax revenues are lagging behind even the revised forecasts by roughly 6.2%. Citizenship revenues meanwhile have exceeded budget projections consistently since the programmes were instituted in 2016. For the first six months of 2020, citizenship-by-investment sales represented 49.4% of all government income, treasury figures show. It has faced numerous challenges to keep its citizenship-by-investment programs running, including a 2017 investigation that found citizenship could be bought with bitcoin, and alleged links to a massive US Ponzi scheme.

vanuatu citizenship by investment

If you fulfill all of these requirements, you can apply for a Vanuatu passport. Other than getting to say that you have a Vanuatu passport – very cool bragging rights indeed – you should compare the Vanuatu CBI program with others before you take the plunge. Whatever agent you choose to work with, make sure they are offering these same prices because the agent’s commission comes directly from the donation you make to the government.

Vanuatu DSP is therefore one of the fastest options for the investors looking for a second citizenship and a new passport. Processing can be completed within a one month; citizenship is granted after this period if the applicant matches the requirements. You will find, that it has the most streamlined and fastest processing system of all citizenship by investment programs and you can get your passport within 2-3 months.

vanuatu citizenship by investment

Quick Processing Time Dual citizenship is obtained in an approximate period of 3-5 months. Reside wherever Avail Dual citizenship along with the second passport without moving away. Not everyone who wanted citizenship of another country and could afford to buy it was necessarily of bad character, he said. Mr Howes said Vanuatu could become seen as a “risky” country for banks to operate in, or even get added to international money laundering grey or blacklists, which would threaten the country’s ability to access international finance. In the midst of the pandemic, Vanuatu’s “cash for passports” scheme is helping to keep its economy afloat. In 1994 The NTL Trust group was launched in order to provide the best and most secure trust services .

vanuatu citizenship by investment

Visa free travel to 125 countries including Russia, United Kingdom and EU Schengen states. In 2018, The Government reduced the prices by 50% to $150,000 and $200,000 for families. Further in april 2018, the government reduced Turkish citizenship 250.000 USD to $130,000 requiring all agents not sell under this minimum investment. Become a resident of the UK through one of our four programs and gain benefits such as free healthcare, quality education & global mobility.

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