According to the latest news from WorldWay, the Vanuatu Business Review reported that in 2018, the Vanuatu investment citizenship program provided approximately $72 million in revenue to the government, contributing nearly one-third of the total government revenue, which is twice that of 2017 and nearly three times that of 2016.
The report from the Vanuatu Ministry of Finance states that in 2017 and 2016, the government revenue from the investment citizenship program was 3.5 billion Vatu ($31.6 million) and 2.7 billion Vatu ($24.4 million) respectively. Compared to the government budget, the revenue figure from the Vanuatu investment citizenship program in 2018 exceeded the target set last year by 245%, showcasing impressive performance!
Meanwhile, the income generated by the Vanuatu investment citizenship program significantly increased its share of total government revenue! In 2016 and 2017, it accounted for only 13% and 16% of total government revenue, while in 2018, this share rose to 29%.
The report mentions that the passport program is crucial in helping the Vanuatu government alleviate its debt burden! "Since the launch of the Vanuatu passport program, the annual non-tax revenue (almost entirely from the investment citizenship program) has consistently exceeded expectations. The Vanuatu government has been raising expectations almost every year."
In 2016, Vanuatu's legislation passed the investment citizenship program—contribution plan, which allows foreign nationals to quickly obtain Vanuatu citizenship and enjoy all rights of Vanuatu citizens by donating to the Vanuatu government. The Vanuatu passport is highly sought after by high-net-worth individuals due to its advantages of low investment amount, super-fast approval, simple documentation, direct citizenship, tax benefits, and visa-free access to numerous countries. However, the benefits did not stop there; in April 2018, the Vanuatu government revised the regulations to significantly lower the investment citizenship threshold, reducing the investment amount for individual applications from the previous $130,000 to the current $80,000. The amendment has been in effect since April 27, 2018.
Comparison of New and Old Policies for the Vanuatu Contribution Plan
Advantages of the Vanuatu Passport Program
1. Investment starting at $80,000 allows three generations of a family to quickly apply for a Commonwealth passport;
2. Full support from the Vanuatu government, easy background checks, super-fast approval, typically only takes 6-8 weeks;
3. No immigration monitoring, simple passport renewal;
4. Visa-free, visa-on-arrival or electronic visa for over 140 countries and regions, including the UK, France, Germany, Italy, and other EU countries, as well as Asian countries like Hong Kong, Singapore, and Malaysia, facilitating travel;
5. Children of appropriate age can enjoy free genuine British-style education in Vanuatu, and those who return to China for further education as international students may be exempt from written exams to easily enroll in prestigious domestic universities. Qualifications from Commonwealth countries are mutually recognized, allowing transfers to other Commonwealth countries;
6. No foreign exchange controls, tax advantages, no personal income tax, corporate tax, capital gains tax, or estate tax, and not subject to global taxation;
7. Beautiful environment, a paradise for vacations.
As a pioneer of the Commonwealth passport program, WorldWay Immigration Group has always maintained a good relationship of trust, interaction, and cooperation with the Vanuatu government.
2019 is the year of identity planning! For the Vanuatu Commonwealth passport program, choose WorldWay! Consultation hotline: 400-138-2929
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