Vanuatu is attracting Indian nationals, especially NRIs, for citizenship due to its quick and cost-effective program. The process allows for expedited passport issuance and offers financial confidentiality, aiding in tax management. Many view Vanuatu citizenship as a means to achieve both privacy and ease of travel, while also potentially paving the way for obtaining citizenship in countries with more robust passports.
Vanuatu has emerged as a desirable option for individuals pursuing alternative citizenship, particularly due to its swift and cost-efficient process. Competing with countries like Cyprus and Malta, which have higher investment requirements and longer procedures, Vanuatu distinguishes itself by allowing citizenship applicants to bypass in-person visits. The cost for acquiring Vanuatu citizenship is approximately ₹1 crore for an individual and ₹1.5 crore for couples with minor children, with passport issuance occurring within seven weeks.
In conclusion, Vanuatu’s citizenship program is appealing to Indians, particularly those residing in the UAE, seeking quick and tax-efficient alternatives. The program not only provides financial confidentiality and travel advantages but also serves as a viable temporary solution for individuals who may later seek citizenship in countries with stronger passports. This trend underscores the growing interest among NRIs in diversifying their citizenship options.
Original Source: m.economictimes.com
