Citizenship by Investment - Vanuatu
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Citizenship by Investment
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Vanuatu is a Pacific island, the 80-plus islands make it an archipelago. It is located in the southwest of the Pacific Ocean, with 13 principal islands along with smaller ones. You’ll find it 1,100 miles east of Australia and 500 miles west of Fiji. The place is packed by adventure from the remoteness of the islands, word-class diving spots, beautiful beaches, and ancient culture that shape up the country. The official languages spoken here are English and French. The citizens are known for their resilience and laid-back nature. They are also said to invent bungee jumping.
The traditional economic base of the country is subsistence agriculture. The industry makes an elaborate exchange between and within islands. The economic change happened of European plantations after 1867 with coffee, cotton, corn cocoa beans, and coconut copra.
Upon gaining independence, the largest earning foreign income belongs to offshore financial services. The foreign companies noticed the increased income generated by tourism and are now looking forward to developing tourist destinations. According to their 1980 constitution, all land in Vanuatu cannot be sold to foreigners. However, in the late 20th and early 21st century, the increased foreign interest prompted the government to allow lease of lands. The lands can be leased by foreigners to 75-year periods.
The Vanuatu population this March 2020 is estimated at 304,864 with a 21.1 years median age.
Vanuatu is a full democracy but still different from the traditional western democracies. Politics involve strong clientelism and most political debates revolve around the resource distribution among communities instead of ideologies.
The Vanuatu Citizenship by Investment Program
The Vanuatu Citizenship by Investment program also known as the Vanuatu Citizenship Development Support Program launched in 2017. It’s the only program available in the South Pacific. It’s known to be one of the fastest second passport and citizenship programs for investors.
Conditions of Eligibility
The program is available to applicants who can invest into a local development fund with $130,000 for a single applicant. The payment could reach $180,000 for a family of four or more. The Vanuatu Citizenship has less voting rights and involvement in politics. The citizenship does not require a visit or stay to retain a passport. The country doesn’ require inheritance tax, income tax, or wealth tax.
You can obtain citizenship within 30-60 days only for processing. Citizenship is also hereditary and easily arrange the Oath Swearing Ceremony in your chosen location around the world. Applicants must have a clear criminal record but not required to learn their language. The passports are valid and renewable for 5 years. Applicants can apply for the program except for the citizens coming from Yemen, North Korea, Iraq, Iran, and Syria.
The Vanuatu Government confirmed the possibility of Bitcoin payment for the program. The government will not accept direct bitcoin payments but the authorized agent can and remit USD to the government.
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