Earlier this year Vanuatu welcomed the new Chairman of the Citizenship Commission, Ronald Warsal, to their office. Despite a difficult first half to the year including a devastating cyclone and the global pandemic, the Commonwealth country has continued to see rapid growth in the number of applicants applying for their popular Citizenship by Investment Programme.

The programme has grown year on year since it was introduced in 2016. Last year the programme generated the island approximately $105M in revenue and Warsal predicts this year’s figures are likely to sit around $129,000,000. In the first 20 weeks of 2020 alone, the programme achieved approximately $59,000,000 from CBI investors, meeting the governments target for the full year in just five months.

Fortunately, Vanuatu is one of just a handful of nations that have managed to avoid Covid-19, along with neighbouring islands Tuvalu and Kiribati. Whilst they have physically avoided a Coronavirus outbreak, the country has still financially suffered from having to close their borders to tourism, which is the biggest income generator for the island. On top of this strain, Vanuatu was also hit by catastrophic Cyclone Harold in April which wiped out numerous homes and building across the Island and killed three people. Thanks to the success and large revenues generated from Vanuatu’s CBI programme, the country has been able to financially support themselves in such testing times without relying on major loans and financial aid from other nations. This is a great reflection of how CBI funds can benefit small nations in times of crisis.

Vanuatu Citizenship enables one to gain visa-free access to 129 countries worldwide. Investment starts from $130,000 + fees for a single applicant and from $180,000 for families of four. To find out more about the programme please contact our advisors.

Tags: citizenship by investment 2020 , citizenship invest , kiribati , tuvalu , vanuatu

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