Vanuatu is a small republic made up of an archipelago of 83 islands of the South Pacific Ocean. Last years, the Vanuatu's Government has launched several programs to grant citizenship or residency to foreigners who make investments or donations to the country. The new citizenship by investment program came into effect last January. By which through a donation a foreigner can obtain a Vanuatu passport, considerably valuable after the visa waiver agreements with Russia and the Schengen area. In addition to all 26 Schengen Area countries, Vanuatuans may now visit the non-Schengen Member states of the Cyprus, Romania and Bulgaria, as well as continued access to the United Kingdom and Ireland which has existed for a long time thanks to the islands former ties to Britain.
Vanuatu is also known as an offshore financial center. Offshore services is one of the largest sectors of Vanuatu's economy. With around 5,000 registered institutions offering a wide range of banking, investment, legal, accounting, insurance and trust services. No corporate or individual income tax, no dividend distribution taxes, no capital gains taxes, no withholding taxes, no estate and inheritance taxes, no foreign exchange controls and company regulations lay on easy administration and privacy.
USD 862.9 Million (2017)
Currently, under the Honorary Citizenship Act [CAP 112] of Vanuatu, honorary citizenship can be obtained by donation through the Development Support Program.
The Development Support Program replaces the former Economic Citizenship Program -Vanuatu Economic Rehabilitation Program (VERP)-, which was established in 2015 to raise funds to mitigate damage made by Tropical Cyclone Pam to the infrastructure and houses. Tropical Cyclone Pam is considered to be the largest natural disaster in Vanuatus history. The program awarded more than 40 honorary citizenships and raised around USD 5.5m.
On January 1, 2017, come into force the Regulation Order No. 215 and 216 of 2016, which grants under the Development Support Program, honorary citizenship by investment in Vanuatu to foreigners who make certain economic contributions to the Government.
Due to political/ economic issues, citizens of many countries face issues of travel, due to their passport. These programmes provide a solution so that they can travel freely across countries as well as prosperously continue their life and have their freedom, providing a better security for their family.