The Government of Vanuatu announced as of July 2018, the total net operating balance for the Government was a surplus of VT 63.6 million. The Total Government net operating balance recorded by the end of July 2018 is a surplus of VT 6,583.6 million which is equivalent to 6.1 per cent of GDP.
Vanuatu’s citizenship by investment (CBI) program has received VT 4.9 billion (US$ 42 million) by the end of July 2018.
The Vanuatu Development Support Program (VDSP) and Vanuatu Contribution Programme (VCP), together collected VT 4,928.4 million by the end of July 2018. This is 132.5 per cent more than the budget target of VT 2,120.0 million and is 92.4 per cent more than what was collected (VT 2,562.2 million) by VERP, VDSP and VCP during the equivalent months a year ago.
- Vanuatu Economic Rehabilitation Programme (VERP) was introduced in 2015 aimed at raising revenue post Cyclone Pam through fast-track citizenship programme.
- VERP was phased out by March 2017 to be replaced by similar programmes – Vanuatu Development Support Programme (VDSP) and Vanuatu Contribution Programme (VCP).
In July 2018, The Government announced reducing prices for its citizenship by investment program to $150,000.
The Vanuatu Citizenship Office, officially also announced some clarifications such as programs offered, such as US dollar is the official currency, Bitcoin will not be accepted and real estate option is not attached to citizenship programme. Below is the official announcement..
“The Vanuatu Government, through its Citizenship Commission and Citizenship Office, wishes to inform all its Citizenship Designated Agents and persons interested in its following Citizenship Programs:
- Citizenship Contribution Program.
- Honorary Citizenship Development Support Program.
That it does not recognize and will not accept any payments made under these two Programs by Bitcoin or Cryptocurrency.
It further wishes to state that the only currency that is being recognised legally and stated in the Regulations made under the Citizenship Act [CAP 112] for these two Programs, is the US Dollar.”
“The Vanuatu Government through its Citizenship Commission and Citizenship Office, wishes to advice all persons who are interested in its Citizenship Programs that there is no Real Estate Option Program attached to any of its Citizenship Programs.”
The Vanuatu citizenship office has also published official designated agents for the Vanuatu Development Support Program (DSP)
Amendments Vanuatu citizenship act recognises DUAL CITIZENSHIP. Economic Citizens of Vanuatu or of a state of other than Vanuatu may be granted dual citizenship.
