Vanuatu Citizenship By Investment Statistics: Revenue Data Updates

Recently released government revenue data from Vanuatu's Ministry of Finance for 2023 and early 2024. Vanuatu Citizenship by Investment statistics has shown that despite the extended suspension from the visa-waiver agreement with the EU, the country's Citizenship by Investment (CBI) programs have demonstrated remarkable resilience.

3 Reasons Why Vanuatu's CIP Has Grown Organically

Although CBI revenue declined from US$71 million in 2022 to US$68 million in 2023, and early figures for 2024 suggest a further downward trend, the programs have not experienced a complete collapse. The primary reason for the decline is the European Council's suspension of Vanuatu passport holders' visa-free entry into the Schengen area in March 2022.

Despite this setback, Vanuatu's CBI programs have remained competitive due to several factors, as highlighted by Daniel Agius, a Vanuatu Government Designated Agent:

1. Vanuatu's non-aligned stance allows it to accept applications from Russian passport holders, unlike Caribbean programs.
2. The growing global demand for second citizenship and Vanuatu's appeal as a tax-free, peaceful, safe, and environmentally pristine country continue to attract applicants.
3. Steady interest from applicants in China, South East Asia, the Middle East, and India.

Vanuatu's programs also maintain a competitive edge with their lower minimum investment requirement of US$130,000, compared to the recently increased minimums of US$200,000 for Caribbean CIPs and US$400,000 for Turkey. Furthermore, Vanuatu boasts faster processing times, with an average of 3.3 months, which is 2-3 times quicker than its Caribbean counterparts.

The resilience of Vanuatu's CBI programs is evident in the fact that, despite the challenges posed by the Schengen suspension, the 2023 revenue figure of US$67.73 million, while lower than 2022, remains significantly higher than pre-2018 levels. This indicates that interest in the program, though diminished, remains strong.

As Agius points out, "Vanuatu's citizenship appeal has grown organically rather than through concerted and coordinated big-spend global marketing." The country's unique selling points and competitive advantages have allowed its CBI programs to weather the storm and prove their resilience in the face of adversity.