The Rising Trend of Vanuatu Citizenship Among Indians: A Quick Guide
Vanuatu citizenship is an increasingly popular choice for Indians, particularly NRIs in the UAE, due to its quick processing time and affordability. The application costs around ₹1 crore for individuals and ₹1.5 crore for couples, with passports issued within seven weeks. The program also offers financial privacy and potential tax advantages, making it an attractive option for those seeking alternative citizenship.
Vanuatu citizenship is increasingly appealing due to its swift and affordable application process, making it more attractive than similar programs in Cyprus and Malta. This program allows individuals to obtain citizenship without physical presence in the country. For Indian nationals, particularly those residing in the UAE, the process often starts in Dubai, where they can qualify as non-resident Indians (NRIs) before applying for Vanuatu citizenship. The financial requirements amount to approximately ₹1 crore for an individual or ₹1.5 crore for couples with children. Once the fee is settled, the citizenship process is completed in about seven weeks, with passports delivered to a designated address in Dubai.
Over the past 18 months, it is estimated that at least 30 Indians have successfully gained Vanuatu citizenship. Dr. Anup P. Shah, a partner at Pravin P Shah & Co., emphasized the program’s efficiency, noting its popularity among UAE residents, particularly Indians and Russians. The Vanuatu passport offers visa-free access to more than 55 countries and visa-on-arrival in 34 countries, although its agreement with the EU was recently suspended.
The allure of Vanuatu citizenship also includes potential tax advantages and the safeguarding of financial privacy. Following tighter Indian tax regulations for NRIs, individuals earning over ₹15 lakh from Indian sources may face taxation if their business activities are considered managed from India. An immigration consultant explained how complicating tax challenges arise even for those residing in tax-haven countries like the UAE. Surrendering an Indian passport allows for added confidentiality regarding financial holdings, as Vanuatu is not obligated to share personal financial data with Indian authorities.
Rajesh P. Shah, a partner at Jayantilal Thakkar & Company, observed that many NRIs have pursued Vanuatu citizenship as a means of circumventing potential legal issues in India, especially since the program accommodates entire families. Others view Vanuatu citizenship as a stepping stone toward more powerful passports from nations granting dual citizenship, such as Malta or Grenada. Although the background checks for Vanuatu may not be as rigorous, it presents a cost-effective and rapid option for many seeking immediate solutions to citizenship.
Applicants typically engage in meticulous financial planning, transferring funds abroad while maintaining their Indian residency status before initiating the application process for Vanuatu citizenship. Once citizens receive their new passports, the surrender of their Indian passports usually occurs within three months. For many Indians, securing Vanuatu citizenship provides not only an additional passport but also essential privacy, financial benefits, and increased travel freedom, continuing to draw interest from those exploring new citizenship opportunities.
In conclusion, Vanuatu citizenship presents a unique and attractive pathway for Indians, particularly those living in the UAE, seeking alternative citizenship. The program’s quick processing, relatively low costs, and the associated financial privacy and tax advantages are compelling reasons for its rising popularity. Additionally, the ability to use Vanuatu citizenship as a precursor to acquiring citizenship from more powerful nations further enhances its appeal. As individuals navigate citizenship options, Vanuatu stands out as a pragmatic choice for global mobility and financial confidentiality.
Original Source: m.economictimes.com
