The chance for investors and their family to gain permanent residency in Australia, with eligibility for Australian citizenship after five years, is a noteworthy benefit of obtaining Vanuatu citizenship through investment.
Australian permanent residency is attainable for inhabitants of Vanuatu through the special Pacific Engagement Visa lottery programme, which is reserved for citizens of Pacific countries such as Vanuatu. A monthly poll procedure is used to select the recipients of the 3000 visas that are reserved annually. With no job or location restrictions, holders of this visa are granted permanent resident rights and can live, work, and study anywhere in Australia.
In order for primary applicants to be eligible for the Pacific Engagement Visa, they must:
- Be between the ages of 18 and 45 in order to be eligible to vote.
- Take part in the electronic voting process (which costs $25).
- obtain a valid, continuous employment offer in Australia; alternatively, their spouse or partner must do so.
- Meet the standards for character, health, and English language competency checks.
- Possess a passport issued by a participating nation.
The Pacific Engagement Visa application allows applicants to include their partner and any legally dependent children. The distribution of visas will be decided by taking into account a number of variables, such as population size, the presence of the diaspora in Australia, available migration options, expected demand, and the opinions of participating nations. Before a visa is issued, applicants must provide proof that they have complied with all applicable requirements. Foreign investors who donate $130,000 to the Development Support Programme (DSP) or invest $200,000 in real estate developments might receive accelerated citizenship from the Vanuatuan government. Applications are handled quickly; they are usually completed in 30 to 40 days. Passports from Vanuatu are recognized as valid travel documents in 196 nations and territories worldwide. With a valid Vanuatu passport, citizens can travel to 96 countries without a visa. Only the US, Canada, and the UK require a visa. Restoring visa-waiver agreements with the UK, Australia, and the EU is a top priority for the government. Because it has no income, capital gains, or personal taxes, Vanuatu is a desirable choice for people looking to become citizens of a country with no taxation. Furthermore, people looking to become citizens of a country that is tax-exempt may find Vanuatu especially appealing because it is one of the few non-FATCA countries in the world.
Image Credit: Vanautu’s blue lagoons. David Kirkland