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Where is Vanuatu? Vanuatu Citizenship By Investment

In recent days, one of the most asked questions is about Vanuatu citizenship by investment

What to do to become a country citizen. The answer to all your questions about Vanuatu citizenship by investment is on our site.

Consisting of 83 islands in the Pacific, Vanuatu is known as ‘the land of happy people’. According to Mehmet Atar, Honorary Consul of Vanuatu Istanbul, the country is a true holiday paradise 

. We wondered how this happy country and visa exemption were provided. In front of us, 83 islands of tourism paradise Vanuatu. In fact, Turkey, 265 thousand inhabitants of this’ Land of the island has already been the gateway to Europe, had only last year opened the honorary consulate in Istanbul in Europe. What is this country, ‘happy people’

– Where’s Vanuatu, what kind of country? 

– The Republic of Vanuatu, a young republic; A collection of 83 islands in the Pacific Ocean. 750 km east of Australia, west of Fiji, near the island of the Solomon Islands and New Guinea.

– When did you assume the honorary consulate and why Vanuatu? 

– I was assigned in May 2013. Earlier in Honorary Consulates of Ghana and Benin Dr. I’ve had experiences with Orhan Kural. I also met with Vanuatu at that time.

– Where does ‘adjective people country’ adjective come from? 

– The country where the happiest people of the world lived in 2006 and 2010, was chosen by international organizations including the New Economic Foundation (NEF), based in Vanuatu, England. The average life expectancy of the people, the satisfaction of life, the result of a calculation based on the ecological footprint.

– What are relations like between Vanuatu with Turkey? 

– Pacific Countries in Turkey in 2005 after the Foreign Ministers’ Meeting held in Vanuatu authorities, at the level of heads of state and ministers with Turkey, especially became interested in agricultural activities. After his appointment, I realized that it is important to develop economic relations as well as cultural relations; We invited college students from Vanuatu to Turkey. Visits at ministerial level became more frequent.

– How did the visa-free departure come about? 

– Vanuatu has serious tourism potential, natural and cultural beauties. I tried to facilitate and remove Vanuatu’s strict visa regime for Turkish citizens. On December 7, Turkish citizens removed the visa requirement as they would go for touristic purposes.

– What is the level of relations between the two countries? 

– We’ve found that there is a Muslim community of 700 people in a village near Port Vila. The Presidency of Religious Affairs will invite the community leader for an international meeting next year. Municipalities began to establish brotherhood between countries. The Marmara Island Municipality became the sister city of Vanuatu with the Espiritu Santo Island.

POPULATION TRAINING, UNEMPLOYMENT AZ

– Vanuatu is a very remote country even on the map. For example, why should an investor go to this country? 

– Geographical location may be remote but there are many reasons for an investor to go to Vanuatu. Vanuatu is known as the tax haven. The International Finance Corporation (IFC) and the World Bank identified Vanuatu as u easiest business Pacific country Uluslararası. The country has a highly educated human resource. Political stability is dominant and the national income per capita is 4 thousand 900 dollars. And the unemployment rate is only 1.7 percent.

– What kind of investments can be made in Vanuatu? 

– The population of Vanuatu is 265 thousand. The number of foreign tourists visiting the country last year is 238 thousand. In a country attracting tourists as much as the population, tourism investment can be made. In addition, exports of coconut, meat and animal products, cocoa, timber, and coffee are exported in the country with a $ 50 million export. 150 million dollars of imports of machinery, food, and oil is an important part of the imports. Let’s not be surprised if golf tourism will be the reason for attracting Turkish investors in the coming years.

PLACES TO

SEE There are many hidden paradises in Vanuatu, which the explorers call the ‘Southern Land of the Holy Spirit’. 

– Evergreen Waterfall: Not only with its clear waters but also with its flower gardens and fish pools. 

– Tanna Island: As soon as you arrive at the island, which gives you the name of the famous Tanna coffee, the Yakel tribe will welcome you with their dance performances decorated with knives, axes, pans, and pots. Because it is an indication of hospitality for them. 

– Lelepa Island: Lelepa Island has an area of ​​1,60 acres with its tropical rainforest and beaches surrounded by palm trees. Here you can explore the historic caves, the natural herbs used for medicine and perhaps the fish you haven’t seen so far together.

– Summit gardens: Here you can see how a tropical paradise fits into 10 hectares. Aquatic plants, orchids, vines and dozens of fruit trees are worth seeing.

WHAT TO DO? 

How about watching the small explosions of Yasur Volcano, which is still active on Tanna Island, as a natural fireworks display? And under this natural feast can you follow the locals dancing with herbs in her knitwear and travel in time? Dozens of activities like this await you in Vanuatu. In the island paradise where you will be fascinated by watching the fishes in the coral sea, you can sunbathe on the beach in the greenery, swimming in clear waters in Mystery Island, also called ‘Gizem Island’. If you like diving, Espiritu Santo is waiting for you. Almost all of the 83 islands have pitches for golf enthusiasts. 

Vanuatu citizenship for investment

A huge number of wealthy citizens from the countries of the former CIS have recently received second citizenship, providing themselves and their loved ones with significant additional benefits. The most important privileges include visa-free travel around the world, high standard of living, access to quality medicine, expansion of business opportunities, tax preferences.

The list of countries issuing passports in exchange for investment in their economies is updated annually. This is the fastest and easiest way to gain second citizenship. 

Investment programs of various countries differ in cost and list of opportunities provided. In the competition for customers, the authorities put forward, at first glance, very attractive proposals, in fact, they do not always correspond to reality.

On the example of the Pacific island state of Vanuatu, one can find many negative points that advertising articles are silent about. By acquiring Vanuatu citizenship for investment, the applicant should pay attention to the natural disasters inherent in this region, and the economy suffering from them. Another questionable point is the purchase of citizenship for cryptocurrency, which today is a risky deal. And finally, Vanuatu’s passport has a low rating, and not all countries recognize it.

In this article, we will provide confirmation of their arguments.

Destructive natural phenomena

Destructive natural phenomena

Vanuatu consists of a ridge of 80 islands, stretching in the South Pacific. From November to April in these latitudes, there are frequent rains and raging cyclones, many of which are destructive.

So, in March 2015, the archipelago visited the cyclone Pam of monstrous power: the wind speed reached 270 km / h, the phenomenon was accompanied by endless rain showers. 

Elemental destroyed more than 90% of the buildings, eight-meter waves completely covered the small islands.

The media reported 40 dead, suggesting that in fact there were significantly more victims. Early evacuation saved many residents from inevitable death. The country was declared the 5th highest level of danger. The disaster has gone down in history as one of the most devastating in the Pacific.

The capital of Port Vila has suffered greatly – the streets were littered with roofs torn from the houses, trees twisted from the roots, fallen electricity pillars. Some villages were completely destroyed by the hurricane. People left homeless, fled to the temporary stay.

President Baldwin Lonsdale called on the world community to provide humanitarian assistance to the population. Huge amounts of money were spent on restoring the infrastructure. The main sponsors were Australia, which allocated $ 5 million, New Zealand, Caledonia.

This hurricane was the most powerful in the history of a small state, but who knows how nature will behave in the future. Isn’t it a reason to think about how wise to get citizenship of Vanuatu?

And in September 2017, one of the most dangerous volcanoes on the planet with the Manara crater woke up on Oba Island. The population – 11 thousand people were evacuated, the main threat is volcanic ash, destroying crops and making drinking water unfit for consumption.

In April 2018, Aoba activity intensified, residents of nearby islands were again evacuated from the danger zone.

The economy of the Republic

The economic situation of Vanuatu leaves much to be desired. 80% of the population work in agriculture for growing and processing coconuts, coffee, chocolate tree, and other fruit crops and vegetables. Frequent natural disasters cause enormous damage to the crop. A serious obstacle is also the considerable remoteness of the islands and not too well-developed transport equipment.

Among other industries include logging, fish, canned meat production, exclusively for their own needs – the textile industry. In recent years, the share of the tourism sector in the economy has increased significantly. The government has focused on the construction of resorts, improving air and cruise traffic. Most of the entrepreneurs who have received citizenship of Vanuatu are occupied on the islands by the tourism business and services, which account for as much as 63% of GDP.

Citizenship of Vanuatu for bitcoins

Citizenship of Vanuatu for bitcoins

Considerable interest was aroused by the information on whether to buy citizenship for the Bitcoins of Vanuatu. The owners of digital capital have attracted the possibility of investing virtual money in the investment program. However, in November 2017, Samuel Garai, Acting Secretary of State for Citizenship, officially announced the only form of payment – in US $.

04/27/2018 information came from VIC Managing Director James Harris, who reported that Vanuatu began selling citizenship for bitcoins and even notified about the successful completion of certain transactions for cryptocurrency. In order to keep up with competitors, the authorities of Antigua and Barbuda declared that they were also going to legalize payment transactions in digital currency for their passports.

No matter how the events unfold, the Russian owners of virtual capital are still limited by a strict framework – the issue of using digital money is not regulated by federal law. And illegal operations with foreign currency threaten its owners with a fine of up to 100%, and sometimes confiscation of the entire asset.

Negative attitude to virtual money and in many other major powers, for example in the USA. Americans explain this circumstance by the fact that bitcoins are often used in criminal schemes for money laundering.

The main disadvantages of crypto investments are Unpredictability of the course, which depends on demand, advertising, and other unstable factors;

Lack of market knowledge and risk assessment. Inexperienced beginners find it difficult to grasp the situation; solid experience is needed here;

There are no banks for cryptocurrency, therefore no one except the owners is responsible for its safety;

Risks are greatly increased due to unviable startups. That is, citizenship for Bitcoins is not only a dubious but also a difficult operation.

On top of that, the Government of Vanuatu called fake information from the questionable Thai migration agency, which announced the possibility of acquiring a 

Vancoat passport for bitcoins. The unreliable notification was picked up by other unreliable agents. It seems that unscrupulous intermediaries, who have undertaken to unwind the program of the island Republic, are chasing a sensation, not caring about the true interests of the country. Should I trust my data so one-day? Investment projects should be promoted by official accredited representatives.

According to the authorities of the island Republic, at present, there are neither legal nor technical capabilities in the country to apply for Vanuatu citizenship for cryptocurrency. Holders of virtual money must first translate it into US dollars and only then invest the currency in the economy of the Pacific state.

What gives citizens of Vanuatu new citizens

The Pacific Republic has just started issuing its passports to wealthy investors. Its remoteness from the majority of world powers, perhaps, is an attractive circumstance for someone. The government promises its new citizens a lot of advantages:Fast clearance – up to 1.5 months, and reliability check in just 1 week;The possibility of visa-free visits to more than 113 countries, including the EU countries, the UK, Singapore and the simplified opening of a visa to America and Canada; Favorable preferences – no taxes on wealth, dividends, inheritance, foreign income; No restrictions on the duration of stay;Confidentiality.

Summarize the feasibility of acquiring Vanuatu citizenship for investment

Vanuatu citizenship for investment

For established businessmen, the issue of a second citizenship is a status symbol. In the ranking of the other 12 countries offering their passports in exchange for investment in the economy, Vanuatu is at the bottom of the list. By the way, it is headed by Australia, the cost of its citizenship is from $ 23 million. The low price of a Vanuatu passport is only $ 178,000 for a single applicant, in principle, a rather attractive prospect. But the states of the Caribbean offer citizenship even for less money – $ 100,000 + costs of registration, and the investment is returnable. The remaining benefits are comparable, and even more visa-free countries in the Caribbean list – from 150. Moreover, the proximity of America is a matter of priority for most entrepreneurs.

Short terms of verification of reliability are a dubious plus for investors, because of the more carefully this process, the higher the guarantee of capital preservation. Even applicants who have not passed Due diligence in the Caribbean can get citizenship of Vanuatu, this fact should alert applicants.

Purchase of a passport for cryptocurrency, with deep study, the process is very doubtful. In fact, the development of a bill allowing such an operation is at the stage of formation. Most likely, according to J. Bond, the head of the Information Center, Bitcoin transactions will be conducted through the crypto-exchange of Australia. Predict the future value of a passport so far no one is taken, as the Bitcoin rate is unstable.

Another important detail is that descendants of the Vanuatian investor have the right to citizenship only by naturalization, that is, after 10 years. Here are contradictory facts proving the dubious advantages of second citizenship for crypto investments:

The change of tax residency, which presupposes the preservation of digital accounts, presupposes living in a second country for at least 183 days, which is far from always possible for entrepreneurs who have a business outside its borders.

The confidentiality of operations with cryptocurrency has no basis since an automated international system for the exchange of tax information currently operates. Thus, the Federal Tax Service of Russia, joining the system, will receive information about all its citizens who have conducted a financial transaction through foreign banks. This applies to most of the world’s leading leaders.

All owners of virtual capital are in the risk zone, in whose countries this money has not received legal status. Consequently, their owners can lose significant amounts. Meanwhile, Russia is expected to increase the number of crypto investors by the end of 2018 to 3 million people.

Second passports are a common phenomenon among millionaires, most of them coming to the search for a spare state with increased thoroughness. We, in turn, caution applicants against a rash choice and do not recommend obtaining citizenship of Vanuatu. And we emphasize that the migration companies that offer to issue this status can hardly be called reliable.