New option in Vanuatu citizenship program 一 buying real estate

A bill amending Vanuatu’s citizenship law has already been laid before Parliament. This was announced by the chairman of the Citizenship Commission, Ronald Worsal.

A meeting of Parliament to consider the terms of the new option is scheduled for April 20, 2021. If parliament approves the changes, the government will publish the text of the amendments with an effective date.

What kind of real estate will be allowed to buy investors and what will be the minimum amount of investment - is unknown. Vanuatu government notes that drawing up the conditions were based on the experience of other countries with the citizenship program by investment.

Expert analysts at Immigrant Invest believe that comparable programs operate in five Caribbean countries: St. Kitts and Nevis, Dominica, Antigua and Barbuda, Grenada and St. Lucia. Investors often choose between the Caribbean and Vanuatu because the passports of these countries provide similar opportunities. For example, citizens of Caribbean countries, like citizens of Vanuatu, visit visa-free Schengen states and Great Britain.

Programs of all Caribbean countries offer to invest in tourist properties. Importantly, investments in real estate can be returned in 5一7 years.

The possibility of getting back the money invested attracts investors. In addition, governments protect investors from fraud: construction is carried out by developers with state accreditation, and all projects are approved by the departments of citizenship programs. Therefore, the demand for the option has been growing since 2018.

If the real estate option under the Vanuatu program will be similar to the Caribbean programs, investors will be able to purchase shares, apartments or villas in hotels. The minimum investment amount will be about $200,000.

​Examples of properties in Dominica

Dominica, Portsmouth

$220,000 — $320,000

Share and full ownership in a five-star resort managed by Autograph Collections (premium branded by Marriott)

1—2

Dominica, Portsmouth

$220,000+

Share in a five-star hotel managed by Intercontinental

Dominica, Roseau

$216,000 — $3,800,000

Share and villas in a six-star resort

1—2

1

Vanuatu’s citizenship program remains in demand despite the crisis and the pandemic. According to the department’s statistics, investors added $106 million to the country’s budget in 2020, twice the amount forecasted by the government.

There are two reasons for the popularity of the program: the speed of processing and the opportunities offered by the Vanuatu passport.

The time to participate in the program is from 1 month, which makes the Vanuatu citizenship program the fastest in the world. By comparison, it takes an average of 2 months to 6 months to obtain a second passport under the Caribbean programs. And the cost of participating in the Vanuatu citizenship program is comparable to the Caribbean.

Vanuatu passport options. Citizens of Vanuatu travel visa-free to 130 countries. For example, in the Schengen area, it is allowed to stay without a visa for up to 90 days in half a year. Vanuatu is also a member of the British Commonwealth, so citizens are free to travel to the UK for 180 days a year.

The Vanuatu passport also helps optimize taxation. There are no taxes on income, wealth, inheritance, capital gains, or exports. International companies registered in Vanuatu are exempt from taxes for 20 years. Instead, they pay only an annual fee of $300.

Immigrant Invest is a licensed Vanuatu Citizenship by Investment program agent. If you would like to obtain a second passport, seek advice from investment program experts.