Getting Residency in Vanuatu
Vanuatu provides for several processes to acquire ‘second residency’ by investing in an emergent paradise, pay no income tax and get residential status.
While there is an ever-growing number of 2nd residency plans on the global market, many over promise and under deliver. Some, like Panama and Paraguay, say they offer simple approaches for westerners, yet they aren’t the best for everybody.
Situated north of the midway point between Australia and New Zealand, Vanuatu is a South Pacific republic on islands formed by volcanic activity. The island nation is small, and even cheap airfares from Kuala Lumpur make travel time-consuming and expensive.
Nevertheless, Vanuatu provides for both residence and citizenship plans. For decades the nation’s passport was inadequate as it permitted access to almost fifty countries. Other nations’ passports opened the door to over 170.
Following changes in 2015 Vanuatu’s passport now packs a punch and obtaining residency with the intent of gaining citizenship is newly appealing.
Vanuatu offers zero income tax, and no estate tax or capital gains tax.
Obtain Residency By Banking
Acquiring residency is simple. In addition to the standard permission process for employees, minor children and spouses, resident status can be gained by providing a steady income — a pension for example — or by investing in the nation.
With a recurrent income, become a resident as easy as petitioning as a “self-funded resident.”
This method mandates a Vanuatu bank confirm your capability of depositing 250,000 VATU (about $2,250 USD) a month.
Married, or residing with a ‘life partner,’ the amount doubles. While it’s not cheap related to some options, most individuals with an ongoing concern or investment holdings will pass, and there is no requirement to pay income tax.
Obtain Residency By Investment
Just like other nations, a residency by investment has shifted more rigorous. Previously a person could invest less than $50,000(USD) and become a resident for twelve-months. The residency was renewable each year as long as the investment continued.
Now residency demands a larger investment in some real estate or agriculture project. The process is comparable to the investment in Malaysia. Similar, but different. Vanuatu provides the opportunity for later citizenship.
As an emerging spot for agricultural investment, plantations offer ready-made investments in tropical fruits. While the turnkey route can be a simple way to acquire a residence, due diligence must be done as many farming investments are managed poorly.
Is It A Fit?
Vanuatu residence is an excellent fit for anyone who wants a tax haven residency which is off the grid. Most people couldn’t find Vanuatu on a map, but it is a great standard to plant for anyone seeking privacy and a life of freedom.
Starry skies. Quiet waves lapping at the shore. Palm trees swaying gently in the breeze. Where is that place? Bukh Global know and will help you start living a better life in Vanuatu. Contact Vanuatu Unified Services today.