Vanuatu Republic is a parliamentary southwestern pacific country in Melanesia and is located on multiple islands. The state belongs to the top five happiest countries in the world: scenic tropics, cultures and religion diversification, distinctiveness — all of these are what Vanuatu is about. Mountains and waterfalls, warm tropical climate, ocean and welcoming local residents — that’s what it attracts tourists with.
The entire state occupies 83 islands. Economy is mostly agriculture-oriented. Fishing industry is highly developed as well. Remarkably, year on year the Republic’s government pays more attention to tourism promotion and investments. The country is attractive not only as a rest area: immigration to Vanuatu is considered a good idea by the Europeans, the French, the Chinese and those born and raised in other countries.
Why is Vanuatu a good choice?
Acquisition of citizenship in Vanuatu is a point of interest for a growing number of foreigners, as the state possesses a variety of advantages:
- Economy and banking sector are sustainably growing, transport communication is also being improved. Notably, its population is growing, which is evidence of high living standards.
- Citizens’ children receive secondary education completely free of charge.
- Everyone can easily travel to most countries, including Australia, the USA and Canada; with a visa this entails little efforts: by electronic means or after arriving to the destination country.
- Strict legal compliance and developed judicial system, which is one of the most independent in the whole world.
- Low crime rate.
- The Commonwealth pays special attention to ecology and agriculture development. This is a great advantage for those who embrace a healthy lifestyle. Vanuatu is the first country from the pacific region which registered 1000 certified farming enterprises growing organic products.
- Vanuatu is paradise for a person looking to start a new business.
Port Vila city, the country’s capital, is located on Efate Island. It’s here where most foreigners who arrived in the country to live and work have emigrated to. The descendants from Europe and Asia to Port Vila become the owners of cafes, gas stations, and organizations connected with building and reconstruction. The locals are usually hired as operational personnel.
The republic is called a tax haven. Vanuatu government is doing its best efforts to attract as many foreign investors as possible. The main political parties of the state stand for programs that create a positive investment climate and tax franchise application for investors, as well as for tax haven enterprises. Insurance and banking tax-haven companies are a special interest of the government.
Interesting fact: Asian region is prioritized in Vanuatu. The point is that the islands are located on the crossing of investment markets of Australia, New Zealand and the USA, followed by Japan and China.
Although Vanuatu is not a single tax-haven jurisdiction state, it possesses a far greater number of beneficial features.
The owners of a Vanuatu passport receive a set of bonuses and no need to pay the following taxes:
- inheritance tax;
- general sales tax;
- corporate profits tax;
- tax on the profits gained from the operations on the stock exchange;
- capital transfer tax.
Income tax duty is absent. Sales turnover is also not subject for taxation.
Entrepreneurial activity is extensively supported by the government. Vanuatu receives income from VAT on goods and services, and also from the import duty on goods imported to the republic. In all the other cases the government stays loyal: currency change is not controlled; reports on financial transactions are not required.
Citizenship by investment
As far as the government’s intent to create new vacancies, as well as to increase the state budget and to improve the economy, the authorities makes all efforts to create the best circumstances for acquiring citizenship by investment.
The necessary sum to invest in a passport for this country is far lower than in competing states, and moreover, it’s possible to obtain the passport within 6-8 weeks.
A single applicant can obtain Vanuatu citizenship by investment by only contributing about 178 thousand dollars in the economy of Vanuatu (fill in the form on the Migronis website in order to get an individual cost calculation within 10 minutes). For a family of 4 persons which consists of the main applicant, his or her marriage partner and two underage children, the sum is just a little higher and equals 260 thousand dollars. Citizenship application processing is completed in record-breaking time — 7-14 days starting from the day the documents were submitted.
Example to compare: to get a passport for Cyprus you must invest at least 2 million euro. It’s usually issued within half a year.
Vanuatu citizenship program can surprise you with even more benefits:
- There is no need to reside in the country to support your citizenship status.
- Citizenship is provided for a lifetime and can be inherited.
Keep in mind that you can’t apply for Vanuatu citizenship by investment online or some other way. It’s obligatory to find an official agent who is licensed to submit your document to the citizenship by investment unit. You can spend some time in Vanuatu as a tourist to make a final decision whether it is worth it to invest your money, make a career change and become a citizen of Vanuatu. It would be a great idea to choose the capital as a destination of your journey to the republic: there is a huge number of immigrants who live and work in Port Vila whom can tell you an insider’s experience of dwelling in the country.
