Vanuatu is an independent state of Pacific Island, which is currently part of Commonwealth countries. It gained independence from UK and France in the year 1980. Its proximity to the countries of Australia and New Zealand makes its ties significant in the region. Vanuatu is one of the youngest players in the investment immigration market. The citizenship by investment Vanuatu program was launched back in 2014.
The passport can be obtained in 2 months, and the costs do not exceed the price of a one-bedroom apartment in the city center. It is one of the reasons tourists prefer getting citizenship by investing in Vanuatu. This article sheds light on the 7 prime benefits one can get through citizenship in the country. Before let’s have a brief idea of what citizenship by investment is.
What is Citizenship by Investment?
This program is devised to allow foreign investors to contribute to the country’s economy, and in return, they obtain a passport and official citizenship. This program is a win-win situation for each party to obtain all the benefits of a regular citizen. The Development Support Program (DSP) was founded in early 2016 and after a year, the government adopted it completely. The prime objective is to kindle the economy, create employment opportunities, and in turn, maintain a balanced budget. Here are the seven benefits of getting citizenship by investment in Vanuatu:
Freedom of Movement
The Vanuatu passport holders can gain visa-free access to more than 129 countries, without any restriction on movement. The citizens will be free from questioning by the authorities at the airport or seaport. The prime countries in the list are UK, Singapore and countries in the Schengen Area. It eases the travel to these countries while saving time which a traveller would on obtaining travel documents. In addition, the residents of the entire Pacific state are allowed to stay in the Schengen countries without any visa for almost 90 to 180 days, and 6 months to a year in the UK.
Favorable Tax Environment
The tax system is entirely based on loyalty principles. Additionally, the citizens are exempt from taxes on global income, inheritance and capital gains. As per the World Bank statistics, the country is one of the top 100 countries in ease of running a business. Moreover, all successful DSP candidates receive a Vanuatu International Company with a Vanuatu bank account at no additional cost.
Ease of Getting a Passport
The citizens don’t have to fly across the ocean to get the passport, neither before nor after the issuance. Documents can be submitted in your home country, while citizenship can be handled exclusively via a licensed agent. There are certain agents, which are officially approved by the government.
Peaceful and Untouched Environment
The mesmerizing beauty of nature, an abundance of freshwaters, fishes, tropical forests and awe-striking scenery makes it a must-live place for people who prefer a soothing and serene environment. Further, the country has small airports, marinas, and yacht clubs, creating exotic nightlife, making it a popular tourist destination.
The country is known for being an ideal location in the Pacific region. It is close to Australia and New Zealand, which is an advantage for the citizens, as they can spend their holidays with their families in these touristy countries.
Passport for the Whole Family
Another primary advantage is that along with the main applicant, citizenship is also granted to the spouse, children under the age of 25 years and senior citizen parents above the age of 65 and above. The country is known for its quick application process as there is no country where the duration of the application process for citizenship is just 2 months. The close to it is the Caribbean, where the process takes 3 to 5 months to complete.
Citizenship is Granted for Life.
Dependents along with the main applicants get citizenship for life with no further hassles of the renewal process.
Conclusively, these are the benefits obtained by anyone who gets Vanuatu Visa and Citizenship by investment. The country has the most efficient process of obtaining citizenship through the investment process. You can apply and get further information at VIMB.vu. Designated agents are there to help you complete the process through a transparent, credible and validated process.
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