Thinking of an immediate and cheap acquisition of citizenship? Find out more about Vanuatu citizenship, also known as second passports for sale without residence. This South Pacific nation provides a seemingly ideal solution.
Why Vanuatu Citizenship?
Vanuatu is now famous for its fast and cheap Citizenship by Investment Program. Unlike Cyprus and Malta, where one has to spend more time and money, Vanuatu is a programme that can be processed within a few weeks to get a second citizenship. For those who want to avoid the attention of tax services or want to make the management of global companies easier, Vanuatu is an excellent option.
Key Points:
Quick Processing: Vanuatu’s application processing is fast. The applicants can get their new passports within 7 weeks.
Affordable Investment: It is less expensive compared to other similar programmes, such as St. Kitts or Grenada. The investment comes to around ₹1 crore for an individual or ₹1.5 crore for a couple having minor children.
The Process: How to Get Vanuatu Citizenship
This process starts with at least one year’s stay in the UAE to become non-resident Indians, or NRIs for many Indians and NRIs. This step is very important for those who are planning to abandon their Indian passports. Once an applicant is in Dubai, they can consult a lawyer to begin the Vanuatu citizenship process.
Steps to Citizenship:
Initial stay in the UAE: To become an NRI, one must spend one year in the UAE.
Legal Assistance: Consult a lawyer in the UAE to begin the Vanuatuan citizenship process.
Investment: Make the required investment, which is approximately one-third the cost of a passport from St. Kitts or Grenada.
Receive Passport: Once the application is processed, passports are sent through a courier service to the applicant’s address in Dubai.
Benefits of Vanuatu Citizenship
Tax Benefits: Vanuatu citizenship prevents paying taxes on worldwide business profits and concealed offshore funds. The Income Tax Department and Enforcement Directorate of Indians are very strict on the NRI who earns more than ₹15 lakh from India. Vanuatu citizenship can help avoid similar regulations.
Privacy and Asset Protection: Vanuatu does not share information it has on its citizens’ assets with other countries. This means that information about an account in a foreign bank, a trust, or share ownership remains secret, thereby offering a measure of security.
Avoiding Litigation: Some of the NRIs invest in Vanuatu citizenship so that they do not fall prey to litigation in India in the future. Through the process of abandoning Indian citizenship and buying a Vanuatu passport, people can block the Indian authorities from accessing overseas property.
Citizenship Switch Planning
To surrender Indian citizenship, one has to plan well. Traditional NRIs largely transfer money back to India as residents and then wire $1 million per family member due to the sale of assets in India. They perform these transfers at the right time so that there are adequate funds to apply for Vanuatu citizenship.
Vanuatu: A Temporary Solution?
Some people buy citizenship in Vanuatu in order to get access to a better-quality passport from Malta, Grenada, or Cyprus at some point. They mostly provide the option of holding two or more passports for the same person, which is considered dual citizenship. The short and inexpensive way of obtaining citizenship in Vanuatu makes it appropriate for this purpose.
Conclusion
Vanuatu provides you with the opportunity to change citizenship rapidly and cheaply. This island nation simply provides a quick and cheap way to acquire another passport that comes with numerous advantages, such as reduced taxation and safeguarding your assets. In other words, Vanuatu is the right country for those who are looking for instant citizenship.
