If you are an investor looking to attain a second passport, then look no further – Vanuatu is the place for you.
Country overview
Vanuatu is a Commonwealth country that achieved independence from the United Kingdom and France in 1980. This country is situated in the South Pacific and consists of 83 islands, 68 of which are inhabited, spanning 1,300 kilometers. Because of its proximity to Australia and New Zealand, it has strong relations with both nations.
Vanuatu’s natural elegance, the wealth of freshwater fish, tropical trees, and stunning landscapes, as well as its modest airports, marinas, yacht clubs, and hotels, combine to make it an excellent and attractive tourism destination.
Agriculture, tourism, offshore financial services, and the livestock industry are the four foundations of the Vanuatu economy.
Language
English, French, and Bislama are their official languages. Ni-Vanuatu is the name given to the local indigenous people, who work in agriculture.
Vanuatu citizenship by investment program was launched in 2012.
Vanuatu offers honorary citizenship through a donation to applicants who spend in a local development fund.
Development Support Program
The Development Support Program (DSP) replaces the previous Economic Citizenship Program, the Vanuatu Economic Rehabilitation Program (VERP), founded in 2015 to raise funds to help heal the damage caused by Tropical Cyclone Pam to infrastructure and homes.
On January 1, 2017, Regulation Order No. 215 and 216 of 2016 law was passed, granting Vanuatu citizenship to foreigners who make some economic contributions to the government under the Development Support Program (DSP).
The reality is that an applicant must first pass the due diligence process before applying. This is a unique aspect of the Vanuatu Development Support Program (DSP).
The average time from the submission of the application to the issuance of the passports is between one and three months, assuming there are no areas of concern. For investors, this platform offers the quickest citizenship and second passport programs available.
Vanuatu citizenship has a lot to offer for overseas private customers. There is no personal interest, capital gains, or withholding taxes, among other things. Land sales are taxable, as are stock exchanges, and municipal business deals are subject to VAT. Local companies are also subjected to import duty.
Dual citizenship
Dual citizenship has no limitations, and there is no need to travel or stay to keep a Vanuatu passport.
Visa-free travel
Vanuatu passport holders benefit from visa-free travel to 130 countries around the world, including the United Kingdom, Europe, Russia, Singapore, and Hong Kong. Applicants need to make a minimum investment of USD 130,000 to attain a Vanuatu passport.
Vanuatu passport eligibility requirements are as follows:
- The applicant must be 18 years of age or above
- The applicant and their dependents are free of infectious illnesses or serious health issues
- The applicants do not hold any sort of criminal history
- Applicants must ensure not to be part of a criminal investigation
- The applicant must not be regarded as a possible national security threat
- The applicant must not engage in any operation that could bring Vanuatu into disrepute
Below are the necessary documents required from the applicant to submit for a successful Vanuatu citizenship and passport application:
- A documented proof the applicant’s net wealth
- Passport copy
- Identification card
- If applicable to the situation, a copy of the marriage certificate
- Copy of birth certificate
- Original police clearance certificate
- Medical certificate
- Letter from the applicant’s employment firm
- If applicable, professional and academic certificates
- Provide an original valid bank reference letter that is not older than 6 months
- Provide an original reference letter from their employment firm that is not older than 6 months
- Six passport-size photographs
- Proof of reimbursement of non-refundable registration and due diligence costs if dependents over 18
- Confirmation document of investment or Escrow agreement
Importance of a second passport:
Obtaining a second passport is one of the most effective ways to broaden anyone’s geographical horizons, while still increasing their investment potential.
Here are some reasons why owning a second passport is beneficial:
- Obtaining a second passport ensures that you have another place to call home, where you will be able to live and work legally.
- If your home country imposes onerous tax policies on its residents, a second passport would enable you to take advantage of significant tax and regulatory benefits.
- The number of visa-free travels available to the holder is one of the best characteristics of a decent passport. Visa-free travel would make it easier for you to travel around the world. It’s also worth noting that, based on the passport policies, visa-free travel rights will differ from one country to the next.
- As a business owner, a second passport with an enumerable free visa travel facility would be essential in times of an unavoidable business trip. Otherwise, in usual scenarios, you will be asked to fill out a long application form listing out the countries you have visited in the past furthermore delaying the travel journey. With a second passport, the investor is assured to have a hassle-free travel experience especially when a Vanuatu passport can be acquired in less than 3 months.
- Getting a second passport would allow you to travel, invest, and reside in places you never imagined you would go. Having more options will give you more freedom and the opportunity to engage in the things you choose.
- To have a second passport is to help your children and grandchildren. You will be able to pass on your Vanuatu citizenship to your children, who will be able to use them after you have passed. They will have access to and manage the money in different countries, ensuring that you do not risk anything.