Vanuatu, an irregular Y-shaped nation, is located at the South Pacific Ocean that stretches up to 1,300 kilometers. It is known as the ‘Isles of Contrasts’ and ‘Paradise Islands’. This country consists of eighty islands with thirteen main islands. It is formerly known as the New Hebrides before it gained independence in 1980s.
This archipelago country is a great venue for backpackers and investors alike. If you’re a traveler, you are capable of visiting will be able to visit more than a hundred destinations all over the world. The Vanuatu passport holders has access to 16 countries in Asia, 14 in Oceania, 41 countries in Europe, 29 in America and 24 countries in Africa. Its offshore companies and zero corporate tax are well-known in Vanuatu. Offshore businesses are substantial part of the country’s economy. This is where investors invest more for the reason that it’s almost free and easy transaction. Investors will enjoy Vanuatu’s seemingly tax-free country.
Vanuatu has strong ties with many powerful nations. Among the nations where Vanuatu has strong cultural and economic ties are Australia, New Zealand, and more from the European Union.
Vanuatu citizens
If you’re not a citizen of Vanuatu, the first step to become one is to apply for dual citizenship. This country has an appealing offer for those who wish to obtain dual citizenship. First of all, this country has no income tax which means that the government will not take a cent of your hardly earned money. There is a non-existence of estate taxes and no capital gains taxes. Vanuatu hardly has taxes at all.
How to Obtain Vanuatu Citizenship
There are two ways to obtain a Vanuatu citizenship. First of all, you can acquire citizenship through naturalization. This process allows residents of the country for 10 years to apply citizenship easily and cheaper. As a country with barely any taxes at all, it is easier to move in and make a living here. There are no requirements to live full-time in Vanuatu for you to be naturalized.
Vanuatu offers economic citizenship by an investment program. Vanuatu is the only country that offers citizenship through investment program in the Asia-Pacific Hemisphere.
How much to invest?
According to the Golden Visas website, a single aspiring applicant may invest $160,000 to a development fund in the country. A couple may donate $185,000+ fees. For a family of four plus, it is a requirement to invest $220,000.
If you wish to apply for Vanuatu citizenship, look for an approved representative agent of the DSP program. The applicant must provide a true copy of existing passport’s cover and bio data page, police clearance report, birth certificate copy, and personal profile. The applicant should pay USD 6,500 for the client account opening and Vanuatu government due diligence. The agent should give you an official government appointment letter to secure your application.
There will be a pre-approval stage too. This is where the government of Vanuatu will conduct background checks of the applicant. Pre-approval is expected to be received after 7 to 10 days, then, the full documentation will be submitted together with the full payment.
How long does this programme take?
This programme has the fastest citizenship offering. It will only take from 30-60 days upon application. There’s no required language for the reason that there are hundreds of spoken language in the country. English, French and Bislama are the three main languages in Vanuatu.
Once the application is approved, the applicant will receive a full benefits and rights of a Vanuatu citizenship. It also comes together with the assurance of visa free travel up to 125 countries. Citizenship is hereditary. This would mean that children of the foreign Vanuatuan can acquire the said citizenship too.
An Honorary Citizenship is offered to applicants who wished to obtain dual citizenship. This is for foreign investors who will be contributing $200,000. An individual is qualified for a passport as soon as he or she pays the required amount to the government. This citizenship includes having full Ni-Vanuatu rights such as less voting rights and political involvement. This type of citizenship includes some benefits.
Benefits of having a Vanuatu citizenship
Fast citizenship processing
The processing of dual citizenship is faster than any other countries all over the world. This will only take place within 30-60 days.
Travel access
A passport holder of Vanuatu can enjoy a visa-free travel to more than 120 countries.
Business benefits
Since Vanuatu is almost tax free with only VAT and custom tax to pay, this means that there is no corporation tax for both domestic and international companies. There is also an exemption of capital gains.
Security for family
One Vanuatu citizenship can extend up to four direct family members. The spouse, children under 18, dependent children under 25 and dependent parents over the age of 65 are covered by this agreement.
Privacy
For public individuals, Vanuatu is a place where you can extract yourself away from the spotlight. Vanuatu offers a lot of beautiful beaches and scenery that you don’t get to see often in the city. This is ideal for individuals who want to rest from life and/or wants to start life all over again. It is far from the world’s pressure.to rest from life and/or wants to start life all over again, then, Vanuatu is the ideal place for you to stay. It is far from the world’s pressure.
Who can apply for Vanuatu citizenship?
Whether your purpose of applying is for business, citizenship, or others, Vanuatu welcomes you. According to the Vanuatu Information Centre, the following can apply for citizenship:
Clean criminal record
This is to secure that the applicant is clear from, and not limited to, any forms of felony or misdemeanor.
Business person or investor
This is an individual or entity who wishes to establish a company or provide funds for one.
Perpetual traveler and offshore maverick
This is an individual who travels frequently but wishes to settle in Vanuatu.
Stateless person
Refers to an individual who is not considered a citizen of any state under the operation of the law they are in to. This is applicable to refugees.
Person renouncing their citizenship
This is an individual who wants to regain his or her Vanuatu citizenship.
Vanuatu: The Next Country to Invest
The country is known for its 12.5% VAT and zero corporate tax which is ideal for the investors, international and domestic companies. For more than 20 years, international companies are enjoying the exemption of taxes such as the capital, exchange control, business license fees, tax on income, capital gains and stamp duty. There is even no need to file for annual return. This earned them the label ‘tax free haven’.
The amenities that Vanuatu is offering for the offshore business and tourist trades makes Vanuatu an attractive country. There is a passport programme readily available for such kind of transaction.
After applying for citizenship, you will enjoy all of the benefits of the Vanuatuans. Also, double citizenship does not require one to visit or reside in the country to retain a passport. It is a great deal for individuals who wants to retain residency in a different country.
How did Vanuatu became what it is today?
From having once an inadequate passport offerings, Vanuatu has risen to a respectable one.
In 2015, after the European Union signed a mutual visa waiver agreement, the citizens of Vanuatu were able to travel freely in 26 Schengen Area states in Europe and non-Schengen member states. It is the only country with a citizenship through an investment program that can travel to Russia visa-free. A passport holder of Vanuatu can travel visa free to over 120 countries.
Why invest in Vanuatu?
The idea of investing money to a country you have no plans of staying for a long time might be an impractical idea. However, the benefits you get are beyond practical.
Cost of living in Vanuatu
In general, the cost of living in Vanuatu is low. Imported products are potentially be more expensive that the ones produced locally. Offshore businesses are thriving in this country. Investors and businessmen will enjoy most of the fruits of their labor.
Culture in Vanuatu
Vanuatu has cultural diversity. This shows that being a foreigner is not a problem in Vanuatu. It is in fact welcomed. One will certainly experience an unforgettable memory while staying in Vanuatu with its rich culture and language .
Why choose Vanuatu?
Staying in Vanuatu can be a fresh start. This is a place where one can enjoy freedom and privacy from the highly urbanized jungles. This place will definitely enthrall visitors with its beautiful beaches and volcanoes. This is a home for yet-to-be-discovered richness of the world. In addition, the people there are one of the nicest bunch you will ever come across. So, the next time you plan your travel, consider Vanuatu. You might never know that after discovering this hidden treasure, explore its culture, and taste their food, you might consider living there and become a citizen of this wonderful country.