The Solomon Islands are an archipelago in the Pacific Ocean, comprising over 900 islands. They are known for their natural diversity, including coral reefs, dense tropical forests, and volcanoes.
The government of the Solomon Islands has announced that the country will begin issuing passports to investors who contribute to the economy. However, the required investment amount and other conditions have yet to be disclosed.
Vanuatu, a neighbouring country to the Solomon Islands, already offers citizenship by investment. The process takes between 1 and 4 months, with the required investment starting at $130,000.
The new programme has the potential to attract investors who value freedom of movement. Citizens of the Solomon Islands have the right to travel visa-free to Schengen Area countries, the UK, and an additional 130 countries.
Currently, the Solomon Islands passport is obtained through naturalisation, which requires living on the islands for an average of 7 to 10 years.
The main drawback of the Solomon Islands passport is that applicants must renounce their original citizenship. Vanuatu does not impose such a requirement; investors are allowed to keep their original passport.
Investors have two options for obtaining a Vanuatu passport:
a non-refundable contribution starting from $130,000;
an investment in the CNO Future Fund, starting from $157,000.
On August 31th, 2024, new requirements for applicants came into effect: investors and their families are now required to submit biometric data for passport issuance.
Biometric data will be collected in five countries. Collection points will be set up in Vanuatu, as well as in Belgium, the UAE, Hong Kong, and New Caledonia.
Vanuatu has established a transition period until November 30th, 2024. The investor and their family will not need to travel to Vanuatu or any other country for biometric submission if the investor has applied to the Vanuatu FIU State Financial Intelligence Unit for an initial check and successfully passed the Vanuatu bank’s verification.
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