The Vanuatu Department of Finance and Treasury released the economic and financial report for the period January to June 2021. Vanuatu’s total revenue for the six months was approximately Vatu 15 billion, or $134 million. Of this, $51 million was an investment from the citizenship program.
The Citizenship Program Department’s goal for 2021 is to attract $105 million worth of investment. Investors can also invest a larger amount in the country’s economy, as was the case in 2020. Income from the program for 2020 was 1.5 times the forecast and amounted to about 42% of the country’s budget.
The chart shows that Vanuatu’s program has been in steady demand from investors for the past three years. It is too early to say what the 2021 result will be, but Vanuatu has a chance to set a new record.
Income from the Vanuatu citizenship program, in millions of dollars
How Vanuatu spends the money it receives from investors
Investment from the Vanuatu citizenship program is used to build infrastructure, develop agriculture and tourism and recover from natural disasters. From 2020, money from the program is also used to combat the effects of the coronavirus pandemic crisis.
The Government of Vanuatu established the National Development Fund in 2018. The fund helps control revenues from the citizenship program 一 investor contributions go into a single government account. This makes it easier to audit and manage the budget.
What are the benefits for investors with a Vanuatu passport
Investors who have obtained a Vanuatu passport have the same rights as nationals. The only exception 一 investors cannot stand for election or run for public office.
Investors with a Vanuatu passport can obtain a tourist visa to the USA for up to 10 years. With a Russian passport, it is issued for a maximum of three years.
Vanuatu citizenship allows for opening an international company in Vanuatu and optimizes business taxes. Investors are exempt from income and capital gains tax for 20 years from the date of incorporation. However, an annual contribution of $300 is required.
How to get Vanuatu citizenship by investment
Investors make a contribution of $130,000 or more to obtain Vanuatu citizenship. A spouse, children up to 25 years of age, and parents up to 50 years of age can obtain a passport together with the investor. The amount depends on the composition of the family: the more people, the larger the investment and additional costs. For example, a family of four will contribute $180,000.
All procedures take place remotely: program participants do not need to travel to the country to obtain citizenship. But investors take the oath of office – this can be done in Vanuatu or by inviting an oath commissioner and an immigration officer to a location convenient to investors.
Clients of Immigrant Invest can take the oath in Moscow. It is administered by Elena Ruda, Director of Development at Immigrant Invest and Honorary Consul of Vanuatu.