Nowadays, having several citizenships isn’t luxury, it’s a necessity. Majority of high net worth individuals all over the world, 34% to be exact, have already obtained a second citizenship or have dual nationality. A Plan B for you and your family, new business perspectives, tax optimisation, 100+ visa-free destinations — all of these is available at your fingertip if you have or plan to obtain a second citizenship by investment.
Over 10 countries in the EU and the Caribbean have official citizenship by investment programs. However, today we’ll talk about Vanuatu, a small island country in the Pacific ocean. We’ll name advantages of Vanuatu passport and explain why you should look into Vanuatu CBI program.
Where is Vanuatu and why its passport attracts investors?
Vanuatu, one of the leading offshore financial located near Australia and New Zealand, is offering its citizenship in exchange for investment and opens up great opportunities for business management.
The importance of a second citizenship for people with less powerful passports is indisputable. There is quite a number of reasons for obtaining another citizenship. It can be unforeseen political or economic circumstances, or wish to give your children the best education in European universities. No matter the reason, the quickest way to obtain a citizenship of another country is offered by Vanuatu. All you need to do is to invest a certain amount to the government-set fund of Vanuatu, and your citizenship application will be approved in 3-6 weeks.
Vanuatu as an alternative to the EU and Caribbean CBI programs
Vanuatu CBI program was launched in 2014, however, it started to attract investors only in 2017, after the government announced it would be accepting bitcoins and other cryptocurrencies as payment for citizenship. As you can imagine, crypto investors immediately started to show interest in this opportunity as more popular citizenship programs don’t allow to pay for passports in any cryptocurrency yet. And it’s not the only advance Vanuatu has to offer.
Here are 7 main advantages of Vanuatu passport any crypto investor will find interesting:
- Speed. It’s possible to obtain citizenship there in about 3 weeks.
- Ease. Due diligence and the list of necessary documents aren’t as complex as in the Caribbean and European CBI programs.
- Payment in cryptocurrency. At the moment, only Vanuatu is ready to sell their passport for bitcoins, etc.
- Money transfer from any account.
- No need to reside in Vanuatu permanently.
- No tax on the global income, inheritance and capital gains.
- Possibility to stay up to 90 days within any 180 day period in the EU, and for 6 months a year in the UK.
Important note! Citizens of Iraq, Iran, Syria, North Korea and Yemen are not allowed to participate in Vanuatu citizenship by investment program.
Conclusion
Becoming a global citizen isn’t a new thing. More and more high net worth individuals purchase a second passport instead of limited cars, luxury houses and yachts. This type of investment will stay with you for the rest of your life, and will be inherited by your children. Investors from China, Russia, South Africa, India, and the Middle East show great interest in the CBI programs as a second passport gives them more freedom and allows to improve the quality of life.
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