CNBNews

In the Asia-Pacific region, Vanuatu is the only country with a CBI program. Their program is known as one of the fastest worldwide and requires $130,000 for a single person and an additional $50,000 to add three family members.

And for the money you pay, you get to live in one of the most peaceful yet extremely beautiful places on Earth, not to mention tax benefits. Find out everything you need to know about the Vanuatu program for citizenship by investment.

Benefits of Vanuatu Citizenship by Investment

First of all, let's talk about the investment climate in Vanuatu. Like many other island states, such as St. Kitts and St. Lucia, its GDP is overdependent on limited sources of income. And around a third of it comes from its CBI. The government knows it and makes sure that investors get the best service possible. That is why the application process for Vanuatu citizenship by investment program, as mentioned on immigrantinvest.com, takes only a month - https://immigrantinvest.com/vanuatu-citizenship-by-investment-en/.

Among the other Vanuatu citizenship benefits are:

• Visa-free entry to Singapore, Hong Kong, the UK, and 95 more countries.
• No taxation of overseas income, inheritance, or capital gains.
• US B-1 and B-2 5-year visas for citizens.

How to Get Vanuatu Citizenship

The country's program is very different from what you might have seen in other countries. First of all, as an expert from Immigrant Invest Elena Ruda pointed out when we consulted with her, there are several CBI programs run by Vanuatu. The one you want to look for is called The Vanuatu Development Support Program.

Secondly, unlike other CBIs, here, you have only one investment option — contribution to the national fund responsible for developing the country. On one hand, this is a major drawback as the investment is non-refundable and there is no possibility to earn money from it. But on the other hand, it eliminates the need to pick the right business and real estate and negotiate its purchase. If you are more interested in getting second citizenship through real estate investment, you might be interested in getting a Dominicana passport.

The Vanuatu citizenship cost depends on the number of dependents included in the application:

• Single person — $130,000
• A couple — $150,000
• A family of three — $165,000
• A family of four and more — $180,000 and $15,000 for each additional dependant

Vanuatu citizenship fees include due diligence fees, which are $5,000 for each case, and small additional fees for processing.

Vanuatu Citizenship Application Steps

Now that you know how to obtain Vanuatu citizenship, it is time to go over the steps and procedures you'll need to go through. The procedure is pretty standard and won't cause trouble if your paperwork is in order.

Background Check

First, you'll need to get approved for the application. The Vanuatu government will perform a check to see if you comply with the citizenship conditions:

• No criminal record
• Not under sanctions
• Didn't live in certain questionable countries in the last five years
• Have an outstanding character
• Have proof of a personal net worth of at least $500,000

For this, you'll need to send in some documents and pay due diligence fees of $5,000.

Payment and Application

After you've successfully passed the previous stage, you can file the documents and submit the payment. After one or two months, the application will be processed and accepted.

Take Oath and Get the Passport

A little peculiar detail about getting Vanuatu citizenship is that a person must first attend a short ceremony before they can get a passport. This can be done both on the island and in the place you currently live in. In the second case, you can pay to fly and house two government representatives who will perform the ceremony at the nearest Consulate. After that, you officially get a Vanuatu second citizenship.