Vanuatu accepts bitcoin for citizenship by investment scheme

Prabhu Balakrishnan Avatar
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Vanuatu becomes the first country to accept bitcoins for citizenship by investment program. Vanuatu offers citizenship under Vanuatu Development Support Program (DSP) to wealthy individuals and families who contribute a minimum of USD 200,000 to the country (approx 42 bitcoins).

The Vanuatu Information Centre (VIC) announced that its Development Support Program (DSP) will allow foreigners to qualify for Vanuatu citizenship through a one-time payment of $200,000 – or its cryptocurrency equivalent, as reported by Vanuatu Independent.

Chairman of the Vanuatu Information Centre Geoffrey Bond noted that “the Government of Vanuatu has explicitly expressed a desire to be at the forefront of adopting new technologies, officially encouraging the VIC to receive payments in Bitcoin.”

St Lucia ($100,000), Dominica ($100,000) and St Kitts and Nevis ($150,000) have the cheapest citizenship by investment programmes in the World, but none of the countries accept bitcoin.

“It gives me great pleasure to invite you to consider our beautiful Island Nation as your future home.  Through participating in our Development Support Program you will be granted lifelong “Honorary Citizenship” of Vanuatu.  As a “Ni-Vanuatu”, you become a proud citizen of what has been declared one of the most desirable and happy places on the planet – and, as a Vanuatu passport holder, discover a global freedom that you only ever dreamed of”, said  Deputy Prime Minister, Hon Joe Y Natuman, MP 

Vanuatu is considered a “Tax have” as the country has zero corporate tax, it also has no income tax, no capital gains tax, no estate tax, no wealth tax, no withholding tax, no gift tax and no other personal income taxes.

Citizens of Vanuatu are entitled to Vanuatu passport which has Visa-free travel to 125 countries – United Kingdom , Europe, Russia, Hong Kong, Singapore.

The citizenship processing time is 45 days.