Vanuatu citizenship has become attractive for individuals, especially Indians, due to quick processing and low costs. The process typically begins in the UAE, with costs around ₹1 crore for individuals and ₹1.5 crore for families. An estimated 30 Indians have acquired citizenship in 18 months. The program offers benefits like visa-free travel and financial privacy, making it appealing amidst tightening Indian tax laws.
Vanuatu has emerged as a popular choice for individuals pursuing alternative citizenship due to its rapid processing and cost-efficient procedures. It competes with European nations like Cyprus and Malta, which provide similar investment-based citizenship programs but with higher prices and longer wait times. Notably, prospective citizens can attain Vanuatu citizenship without the need for travel.
Many Indian nationals begin the citizenship process while residing in the UAE, often establishing non-resident Indian (NRI) status by living in Dubai for over a year. The cost of obtaining Vanuatu citizenship is approximately ₹1 crore for individuals and ₹1.5 crore for couples with minor children. Once payment is completed, Vanuatu issues the passports within seven weeks, which are subsequently couriered to an address in Dubai.
In the past 18 months, it is estimated that around 30 Indians, including NRIs, secured Vanuatu citizenship. As Dr. Anup P. Shah of Pravin P Shah & Co. commented, “It’s currently the quickest ‘Citizenship by Investment’ programme.” The Vanuatu passport facilitates visa-free access to more than 55 countries and visa-on-arrival for 34 nations, although recent suspension of its EU visa waiver has dampened some prospects.
Vanuatu’s citizenship is increasingly seen as an avenue to escape taxation and financial oversight. Since 2021, the Indian government has instituted tighter tax rules for NRIs earning over ₹15 lakh, exerting its right to tax global business income managed from India. As highlighted by an immigration consultant, such circumstances complicate tax challenges for those managing their businesses from abroad.
The anonymity provided by Vanuatu citizenship further appeals to applicants, as it conceals financial assets from Indian authorities. Originally privy to data on offshore bank accounts linked to Indians, countries like Switzerland now report such information to Vanuatu instead if the Indian passport is surrendered.
According to Rajesh P. Shah of Jayantilal Thakkar & Company, “Many NRIs have opted for Vanuatu citizenship in the last two years to avoid possible litigation in India.” This program extends its allure globally but particularly targets those residing in Dubai.
Vanuatu is often viewed as a stepping stone toward obtaining citizenship from countries offering stronger passports, such as Grenada or Cyprus. The procedural checks are reportedly less rigorous compared to those by Grenada, making Vanuatu a viable option for expedited citizenship.
Individuals typically organize their finances meticulously before applying. This includes moving funds while still being Indian residents and managing annual remittances from asset sales in India. Post-acquisition of citizenship, new citizens usually transfer their Indian passports within three months. Vanuatu’s program thus offers a pathway to enhanced travel freedom, financial confidentiality, and tax advantages—elements that resonate with those considering their citizenship alternatives.
In conclusion, Vanuatu’s citizenship by investment offering is appealing to many Indians for its quick and affordable process while providing avenues for financial privacy and tax advantages. The program has gained traction particularly among NRIs based in the UAE, with numerous applicants seeking to secure a second passport as part of broader financial and travel strategies. While it presents itself as an advantageous opportunity, individuals must still navigate the complexities of personal finance and international regulations to optimize their citizenship experience.
Original Source: m.economictimes.com
