The Pacific nation of Vanuatu runs one of the world’s most prominent citizenship by investment programs, the Development Support Program (DSP), and it has become even more popular during the hard times of the pandemic.
Applications for Vanuatu’s DSP, which requires investors to donate 130,000 USD for themselves or 220,000 USD for a family of four to obtain Vanuatuan citizenship, have greatly increased during the past three years.
The number of applications skyrocketed from 445 in 2018 to 1,182 in 2019, highlighting the increased awareness and interest in the DSP.
While the government is yet to announce the numbers for 2020, the Vanuatuan Ministry of Finance did release the FDI raised by the DSP during the pandemic-struck year.
The FDI increased about 30%, which is an indicator that the number of applications will have grown at the same approximate percentage.
The reasons for the increase are heightened awareness about Vanuatu citizenship benefits, the elite’s need for global mobility during a year where global travel became a challenge, the simplicity and remote processing of the DSP, and the simple requirements of the program.
Learn more about Vanuatu Citizenship by Investment Program here
Unlike many other citizenship by investment programs that require applicants not to hold any rejected visas from any country on their visa waiver list, Vanuatu does not have this requirement in place.
During a time when embassies and consulates were closed, getting a visa approved to be able to apply for a citizenship by investment program was nigh impossible. Vanuatu made it easy for those with a rejected visa application, and this also played a part in the increased demand.
The number of applications is expected to continue to increase in the upcoming years, especially since the Vanuatuan government is considering adding a real estate option to the DSP.
