The Government of Vanuatu has made some important changes to the Citizenship by investment program. Among the most important changes applicant screening method will be tightened and due diligence fees increased by $3000 to cover third party costs.
The new changes will apply effective from March 27, 2020
Here are the full list of changes
1.Due diligence
An internationally reputable global due diligence firm will be engaged for citizenship diligence checks by Financial Intelligence Unit (FIU). Because of the third party checks, the processing time may take long. Currently the entire process of issuing approval letters take just 3-5 weeks
The FIU will now complete due diligence checks taking atleast 96 hours (increased from 48h)
Police clearance certificate, passport and other important documents will be requested by FIU or due diligence firm for processing of applications.
2.Electronic applications
Due to the COVID-19 crisis Vanuatu accepts citizenship applications electronically can be sent by email.
3. Increase in DD fees
FIU due diligence fee will increase to US$ 5,000 (from $2000)
4. Agents
Agents much achieve a minimum of 12 applications per year (DSP agents only)
Download
You can download the Amended Citizenship DSP/VCP regulations below.
Amendments to Citizenship (Development Support Program) Order 39 of 2020
Amendments to Citizenship (Contribution Program) Order 38 of 2020
