We live in a dynamic world where you can never be sure about tomorrow. This makes us uncertain about our lives, family, business, and assets. For this reason, whether you are an entrepreneur, investor, aristocrat, travel enthusiast, or just an ordinary citizen it’s smart and prudent to acquire a second passport from another country you can call your second home. A lot of people get a second passport but some people go even a step further and acquire a second citizenship. This guarantees you freedom, saves your life in case there are strife and turmoil in your home country, and presents numerous opportunities to working professionals, and entrepreneurs who want to diversify their investments or expand their business empires. This article will give you five reasons why you should seriously consider getting a Vanuatu citizenship.
1. One of the last remaining tax havens in the world
Vanuatu, a remote archipelago in the South Pacific tucked in the deep seas between Australia and Fiji is probably one of the last remaining tax havens on the planet. This exotic microstate has been a well-known tax haven since 1971. Even more, the tax haven industry makes up for approximately fifteen percent of Vanuatu’s GDP. This makes the economy of Vanuatu heavily dependent on offshore companies. Finally, International Business Companies (IBCs) registered in Vanuatu pay absolutely no taxes for the initial twenty years. This makes Vanuatu the business destination of choice for startups and companies aiming to reduce their tax expense.
2. No breach of confidentiality
The government of Vanuatu preserves confidentiality by implementing stringent measures preventing public access even by foreign governments, to an offshore company’s financial information, business and personal details of the owners, and their beneficiaries. This information is kept private under all circumstances except in isolated cases where there is evidence that a company has been engaging in illegal activities such as terrorism, fraud and money laundering. This anonymity is critical when operating in a very competitive business environment. The more confidentiality, the more a company has control over its activities.
3. The advanced and secretive banking system
Vanuatu is a great investment destination since banks are prohibited by law from disclosing a businesses’ income to the authorities. Additionally, most banks in Vanuatu operate via–a–system where it’s up to the business to report its income to the relevant bodies. The banking system guarantees the privacy of financial information of everyone who opens an international bank account by ensuring that no other entity gets access to critical information.
4. Visa-free travel to 122 countries
The Vanuatu passport allows you Visa-free travel to over 122 countries and territories. That makes it the 36th strongest passport in the world, something that travel enthusiasts and travel writers will surely like. This includes 26 countries in the Schengen Zone and other key destinations such as the UK, Singapore, and even Russia. This makes the Vanuatu passport a primary choice for global investors who want ease of access to various financial centers in the world.
5. An amazing destination
This chain of 83 islands has been voted the happiest place on the planet twice, according to the New Economics Foundation and Friends of the Earth and the 2016 Happy Planet Index. Additionally, Vanuatu’s citizenship by investment is one of the easiest and fastest to acquire in the world. After applying, you will get a new passport in up to 45 days. However, to be eligible for a Vanuatu passport you must obtain citizenship first.