Vanuatu: How much money do you need to get Lalit Modi-like citizenship in this island nation?

Vanuatu, a little-known island nation near Australia, has garnered massive attention among Indians after former IPL commissioner Lalit Modi applied for citizenship.

Last week, the MEA confirmed that he had applied to surrender his Indian passport at the High Commission in London. However, on Monday, Vanuatu Prime Minister Jotham Napat ordered the Citizenship Commission to cancel Lalit Modi’s passport, citing the rejection of Indian authorities' request for an Interpol alert due to insufficient evidence.

Here’s all you need to know about acquiring Vanuatu citizenship through investment and its benefits.

How can you acquire Vanuatu citizenship through investment?

There are two ways to apply for Vanuatu citizenship through investment.

In the first option, the applicant must make a non-refundable contribution of $130,000 to the National Development Fund. This amount is not a flat fee but varies based on the number of people included in the application.

For a single investor, the contribution is $130,000, while for a married couple, it is $150,000. The fee increases to $180,000 for a family of four. If more than four people are included in a single application, the investor must pay an additional $15,000 per dependent. Additionally, the investor must have a minimum of $250,000 in their bank account.

The fund is used to support Vanuatu’s economic development and disaster relief efforts.

In the second option, the investor can apply through the Capital Investment Immigration Plan. Under this programme, foreign investors contribute to a fund dedicated to developing the coconut oil industry, with the goal of reducing the country's reliance on oil imports.

The investor must pay a flat fee of $138,000 for a family of four. If more than four people are included in the application, an additional $26,500 must be paid per extra applicant.

No language exams or interviews are required for Vanuatu citizenship. Additionally, investors can retain their existing passports after acquiring Vanuatu citizenship.

Who can apply?

• The applicant must be at least 18 years old.
• He/she must not have any criminal record or prosecution. It is important to note that Lalit Modi's applications were cancelled due to legal issues.
• The applicant must not have any serious health issues
• Minimum net worth of approximately $250,000. And the applicant must be able to prove the legality of the money.

What documents are required for the application?

The required documents include a copy of passport, Police clearance certificate, Birth certificate, Medical certificate and Proof of fund.

What are the benefits of buying Vanuatu citizenship?

• Vanuatu citizens can travel visa-free to 100+ countries, including popular Asian destinations like Malaysia and Singapore.
• Vanuatu citizens get the B‑1/B‑2 Visitor Visas for 5 years. The visa allows the holders to spend up to 180 days a year in the USA.
• With the B‑1/B‑2 visa, one can hold business meetings, travel around the country, get medical treatment, and enrol in courses that do not lead to a diploma or degree.
• Investors can establish an international business company (IBC) in Vanuatu. 

• In Vanuatu investors can enjoy tax incentives.
• The company and its shareholders don’t pay taxes on corporate profits, personal income, capital gains, inheritance, or donations. Instead, there is a flat annual fee of $300. The beneficial tax regime is valid for 20 years.
• The second passport allows an investor to visit other countries visa-free and stay in Vanuatu anytime. It may be helpful in case of danger in the home country.