Everyone dreams of retiring on a serene and isolated island somewhere in the Caribbean or the Western Pacific, munching on the days effortlessly. There’s just one place to go—Vanuatu. This island, located in the South Pacific Ocean, embodies beauty and an expression of serenity that you can buy your way into if you’re an ardent investor who wants to make it all worth it.
Getting a Vanuatu passport can grant you access to the island. It’s not a one-way ticket either, as you can continuously use it if you invest in the estate by participating in the island’s Citizenship by Investment (CBI) program.
More enticingly, owning this passport gives you seamless island access and other benefits. This article digs into the advantages of owning a Vanuatu passport as you invest, thrive, and travel.
What is the Vanuatu Passport by Investment Program?
The government of Vanuatu set up the Vanuatu Citizenship by Investment program to allow people to contribute to the Island’s socio-economic growth. Every penny invested goes to the Island’s Local Development Fund. Members contributing to this program can get a Vanuatu passport to access the island, purchase property, and reside there.
The Benefits of Getting a Vanuatu Passport by Investment
Anyone can live in the Republic of Vanuatu. Especially so, this conglomerate of islands welcomes foreigners willing to invest, thrive, and travel. You’d know that you made the best choice living in Vanuatu since it is serene and doesn’t have overly punitive laws for foreigners—that’s Vanuatu for you.
Much better, you’ll find the paradise you’ve longed for living on this adventurous island, which can be worthwhile. With your passport in hand, here are the benefits of staying in Vanuatu.
1. Zero Tax Obligations
Every country has its tax rules, most of which can be unfavorable for high-net-worth individuals. Of course, there are feasible ways of navigating punitive tax rules, mainly by exploiting existing loopholes. However, you won’t have to worry much about your due taxes or honoring any obligations if you have a Vanuatu passport.
Vanuatu is a zero-tax country. The island doesn’t deduct taxes on income, inheritance, or property. Moreover, the government doesn’t charge taxes on inheritance.
The Island is also an ideal place for carefree investing. So, whether you’re contemplating registering an international company or starting one after obtaining citizenship, you can achieve that seamlessly.
2. Extended Citizenship to Your Family
You won’t enjoy the privilege of being a Vanuatu citizen alone. Thanks to the Island’s accommodative citizenship policies, your family can tag along with you. The country can allow your spouse and children under 25 to stay on the Island under your passport.
You can still bring your parents along if they’re over 50. That makes it a more inclusive package for you and your family. Ideally, no additional fees and payments may be needed to maintain citizenship, but there could be possible future developments, so it’s best to remain vigilant.
However, the country’s immigration department structured the payment model for the country’s CBI for individuals looking for a passport. A single applicant should pay $130,000, while a married couple must pay an extra $20,000. A family of four must shell out $180,000 to obtain the island’s citizenship.
3. Access to Countries Visa-Free
Vanuatu is a Commonwealth country with a high mobility score, allowing you to access 49 countries visa-free. That means you won’t face administrative entry restrictions by any authorities, and you can visit these countries as long as your Vanuatu passport is valid.
Some countries you can visit without requiring a visa and with your Vanuatu passport in hand include Belarus, Costa Rica, Ireland, Israel, and Singapore. Some countries are yet to authorize visa-free entries for Vanuatu’s passport holders. Therefore, it’d be best to be keen on possible developments in case any occur in the future.
4. Enjoy an Impeccable, Carefree Lifestyle
Vanuatu citizens have enjoyed a much better lifestyle than most parts of the world. It’s been at the summit of countries globally having the happiest indices, maintaining this position for decades.
The country has maintained a high ranking as one of the happiest countries for decades—described as the “happy isles of Oceania”— rightly so. The people living on the Island enjoy a more invigorated combination of sustainability and tradition, and the quality of life is high-end.
Having a Vanuatu passport allows you to bask in this Island’s fun. It doesn’t matter whether you want to reside permanently or are simply visiting; this island’s lifestyle can be worthwhile.
What Do You Need to Obtain the Vanuatu Passport by Investment?
Before setting sail to live or visit Vanuatu, it should be apparent that accessing it will require a valid passport. Below are what you need to acquire your Vanuatu passport by investment, whether you plan to visit or live on it.
- You must contribute to the country’s citizenship by investment program, dishing out a non-refundable minimum of $130,000. This amount varies depending on your family size and dependents coming into the island.
- Your bank account must have at least $250,000 and have a clean criminal record.
- You must not be a Syrian, North Korea, Yemen, Iraq, or Iran citizen since the CBI program is yet to be available to these nationals.
Also noteworthy is that you must be over 18 but under 65 years old when making your Vanuatu passport application.
A valid passport is imperative if you aim to reside in Vanuatu or fancy visiting the country permanently. This passport has many benefits that grace the triad of investing, thriving, and traveling as you seek fresher adventures. Nonetheless, ensuring you meet the country’s passport application requirements before moving is best.