Vanuatu Announces Major Changes To Its Citizenship By Investment Program/
The Pacific nation has been providing investors with the opportunity to invest in the country since 2017 and receive citizenship and a passport in return. According to the International Monetary Fund (IMF), the income from the program is almost 50% of the country's income.
Realizing the importance of the Program and its impact on the country and the economy, the government decided to revise the architecture of the program. This is necessary in order to ensure economic growth and enhance the protection and security of the international community.
Due diligence procedures will be improved to ensure that only reputable investors receive citizenship.
“In line with the nation's objective, the government has formally finalised the engagement with its first international due diligence service provider, UK agency, FACT UK. The company is the first of several leading global due diligence agencies to be appointed to provide robust due diligence service. The CEO of Fact UK, Kieron Sharp, with vast international experience having been trained by the FBI Academy and also acted as Head of economic crime at Interpol, leads a highly qualified team. The Government welcomes the appointment as the first endeavour to vet CBI applicants thoroughly. FACT UK shall perform extensive checks covering sanctions lists, open-source checks, and on-the-ground assessments. It also leads in IP protection, intelligence, and computer forensics, along with forensic investigation and security verification,” write finance.yahoo.
LEARN MORE ABOUT VANUATU CITIZENSHIP BY INVESTMENT PROGRAM
Vanuatu offers a number of advantages to foreign investors:
Enjoy your freedom, mobility, and access to more than 145 countries visa free, including all European Union countries, the United Kingdom, Ireland, and Russia.
Citizens of Vanuatu are permitted to apply for Australian Visitor Visa (subclass 600) and U.S. Tourist Visa, amongst others.
No residency requirements for successful applicants.
Family friendly citizenship programme: the successful application covers a family of four (main applicant, spouse, and one child under 18 years) with only nominal fees for additional dependents.
The Republic of Vanuatu imposes no income, wealth, and inheritance taxes.
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