Vanuatu made significant changes to the DSP citizenship program in 2019. Here are the most important changes done to Vanuatu citizenship by investment program
On 24th April 2019, the Citizenship (Development Support Program) Regulations Order NO.33 of 2019 came into effect and apart from its extended definition section and detailed procedures entailed, a new threshold of selling prices USD 130,000 endorsed which needed to be respected by all Agents which warranted strict compliance in order to avoid penalty, even revocation.
This also means Vanuatu reduced prices from USD 150,000 to USD 130,000 as a minimum selling price for agents. Vanuatu has also significantly improved processing times. Currently Vanuatu is the only country among other CBI schemes for fastest passport usually 4-5 weeks, if all documents in order.
Here are the important changes done to CBI scheme in Vanuatu
- New threshold USD 130,000 established for DSP/VCP schemes
- Passport validity increased to 10 years from five years and new design of passports issued from June 2019 with more security features. This means investors dont have to go through hassle of renewing passports every five years.
- More agents appointed for DSP (more than 30 agents ) and VCP (1 agent) Contracts of agents have been extended to 8 years.
- “Honorary” terminology is canceled and removed from citizenship certificates. DSP program replaced by new regulations allowing either the Chairman of the Commission or the Prime Minister himself to sign the required documents cancelling out the “honorary” terminology as both passport schemes are the same.
- Applications of persons with criminal records will not be considered.
- Application Processing times significantly increased to less than a month. This also means it is possible to acquire passport much faster through investment within a month.
Please see our new prices for Vanuatu
Vanuatu tightened the DSP citizenship scheme with more regulations, including applicants will be monitored post granting citizenship every year. All applicants had to go through FIU checks which the Financial intelligence unit (FIU) will check for criminal records, interpol police checks, sanction databases before being approved of citizenship/passport. These checks are completed within 1-2 weeks maximum
Applicants have to take Oath of allegiance before citizenship. This can be done visiting Vanuatu or at consulates or at agents office in front of the passport office. There is an additional fee involved for this.