In today’s global economy, many Indian investors are seeking ways to secure a second passport for personal, financial, and business reasons. One option is obtaining Vanuatu citizenship by investment, a process that offers numerous benefits, especially for those looking to expand their global mobility and protect their assets.
Abhay Jaiswal, Investment Programs Expert at Immigrant Invest, explains requirements and key benefits of Vanuatu second passport program.
What Is Vanuatu Citizenship by Investment?
Vanuatu offers a citizenship by investment program that allows individuals to obtain a second passport in exchange for a financial contribution.
Requirements for Vanuatu citizenship involve a donation to the country’s development fund. Vanuatu offers citizenship through the Vanuatu Development Support Program (DSP). The investment options include:
- A contribution of $130,000 to the government fund.
- A partly refundable investment in shares of the CNO Future Fund — $157,000.
Once granted citizenship, investors and their families can enjoy the benefits of being Vanuatu citizens, including visa-free travel and potential tax advantages.
9 Vanuatu Passport Benefits for Indians
1. Visa-free travel. With a Vanuatu passport, Indians gain access to visa-free or visa-on-arrival entry to over 100 countries, including several countries in Asia, Africa, and the Pacific.
2. Easy access to international markets. As a Vanuatu citizen, you can enjoy greater ease when conducting international business, with fewer restrictions and less bureaucracy.
3. No personal income tax. Vanuatu does not levy personal income tax, which can be a major advantage for investors seeking to reduce their tax burdens.
4. Dual citizenship. Vanuatu allows dual citizenship, so Indian citizens can retain their original nationality while benefiting from Vanuatu citizenship.
5. No inheritance tax. Vanuatu does not impose inheritance tax, making it an attractive option for wealth preservation and planning for future generations.
6. Business-friendly environment. The country offers a stable and business-friendly environment with a simple regulatory framework, which is appealing to entrepreneurs and investors.
7. High privacy protection. Vanuatu provides strong privacy laws that protect personal and financial information, which can be a key concern for international investors.
8. Stable economy and government. Vanuatu is known for its political stability and relatively strong economy, providing a secure environment for investment.
9. Access to Vanuatu’s international banking system. As a Vanuatu citizen, you can access its international banking system, which offers a variety of financial services with high levels of confidentiality and security.
Requirements for Investors and Family Members
To qualify for Vanuatu’s citizenship by investment program, investors must meet certain requirements.
Minimum investment. The standard donation amount to the Vanuatu government’s Development Support Program is around $130,000 for a single applicant. Additional contributions are required for family members.
Clean criminal record. Applicants must have no serious criminal convictions.
Due Diligence. A thorough background check is conducted to ensure the applicant’s financial standing and suitability for citizenship.
Family members, including a spouse and children under the age of 25, can also be included in the application. Dependents with physical or mental disabilities may also be considered.
How to Apply for Vanuatu Second Passport for Indians
The application process for Vanuatu citizenship by investment is straightforward and generally takes around 1—4 months. Here’s a basic outline of the steps:
- Choose a citizenship agent. Begin by selecting a licensed agent who can guide you through the process. The agent will help you complete the necessary paperwork and ensure compliance with Vanuatu’s legal requirements.
- Submit documents. Provide your personal documents: passport, proof of address, background check.
- Due Diligence checks. The Vanuatu government will conduct a background check to verify your application and ensure there are no legal or financial issues.
- Receive approval. Once approved, you and your family will be granted Vanuatu citizenship and issued passports.
- Make the investment. Investors are required to fulfill the financial obligations specified by the program.
- Collect your passport. The final step is receiving your Vanuatu passport, which allows you to enjoy all the benefits of citizenship.
Tax Advantages for Vanuatu Citizens
One of the most significant benefits of Vanuatu citizenship is the country’s tax structure. Vanuatu offers several tax advantages that can be highly beneficial to Indian investors:
- No income tax. Vanuatu does not levy personal income tax, which means citizens are not taxed on their worldwide income. This is particularly attractive for investors seeking to reduce their tax liabilities.
- No capital gains tax. There is also no capital gains tax, making it easier to manage investments and wealth.
- No inheritance tax. Vanuatu does not impose inheritance tax, which benefits families looking to pass on assets without excessive taxation.
- No wealth tax. Citizens are not taxed on their net wealth, making Vanuatu an attractive destination for high-net-worth individuals.
These tax advantages can significantly improve financial planning, especially for individuals with substantial assets or international business interests.
Conclusion
Vanuatu citizenship for Indian investors offers a straightforward path to obtaining a second passport and enjoying numerous benefits, including visa-free travel, tax advantages, and a secure environment for investment. Indian investors can particularly benefit from these opportunities, as the process is quick and provides long-term advantages for personal and financial growth.