May 27th, 2023 at 03:31 am
Vanuatu Citizenship Government Bonds Option
As a third investment choice for the citizenship by investment program, the Vanuatu government has added Investment Government Bonds choice (IGBO) issued in Australian dollars (AUD). This is to make Vanuatu CBI more competitive with other countries.
On March 27, 2023, the changes to the Citizenship Act (Investment government bond rule – Order 44 of 2023) were made public. Moreover, The order says that 500 units of bonds will be given out for citizenship purposes, and each unit can be used for one application.
Government Bonds (Interest Free)
According to the Order, the Reserve Bank of Vanuatu (RBV) will issue 500 units of government bonds with no interest for this choice. Depending on the time until maturity, these bonds will be worth between AUD 150,000 and AUD 180,000.
- Firstly, Bonds that will be paid off in two years (24 months)—AUD 180,000
- Secondly, Bonds that will be paid off in 2.5 years (30 months)—AUD 170,000
- Lastly, Bonds that will be paid off in three years (36 months) — AUD 150,000
The applicant must pay the full amount of the bond, and the full amount of the investment is returned when the bond matures (no interest is paid). After an investor pays for a government bond, Vanuatu will send the proof to the investor within 7 days. After reviewing the application within 60 days, the Vanuatu Citizenship Commission will give the person a citizenship certificate.
Government Fees
Investors have to pay fees that they can’t get back.
- AUD 20,000 for a single candidate,
- AUD 30,000 for a couple, and
- AUD 45,000 for a couple with one child.
- 60,000 AUD for a couple with two children.
Additional fee
- The fee to apply is VT 5,000.
- Certificate price – VT 10,000
- Due diligence check — AUD 7,500
Eligibility
Bond applications for someone who has been convicted of a crime that could put him/her in jail for a year or more, your application will not be accepted. Also, No one from Iran, Russia, Belarus, or North Korea is allowed to apply. The Commission can accept applications from any limited or UN-sanctioned country if the person applying can show that:
- hasn’t lived in a restricted country or UN-sanctioned country in the last five years,
- can show proof of stable residency in another country.
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