Vanuatu: revenue doubled from the Citizenship by Investment Programme
Published at: 26/02/2019 11:09 am
The successful and popular Vanuatu citizenship by investment program is the source of 29% of the government revenue in 2018. The inflow of investment doubled since 2017 and tripled during the last two years.
According to the Treasury monthly Budget Report, "among other revenue constituting fees and charges, Vanuatu Development Support Program (VDSP) and Vanuatu Contribution Program (VCP), together collected VT 7,303.9 million by the end of November 2018. This is 244.5 per cent more than the budget target of VT 2,120.0 million and is 77.5 per cent more than collections from VERP, VDSP and VCP1 during the equivalent months a year ago (VT 4,114.3 million)."
Vanuatu's citizenship through investment program is considered the most advantageous scheme in 2018 and perhaps even in 2019. Holders of the Vanuatu passport may enter visa-free in 129 countries. Like the Member States of the Schengen zone, UK, Ireland, the Caribbean islands, HK, Russia and Singapore, among others. Another significant benefit for tax planners is that Vanuatu does not introduce taxes on income, inheritance and wealth. The applicants do not have to visit the country personally to become a citizen. Moreover, the naturalisation process takes only 7-8 weeks.