Last year, we reported that CBI-receipts in Vanuatu had overtaken VAT in 2018 to become the government’s single largest source of income, accouting for some 31% of the total.
In 2019, that proportion grew to 37% as VT 12.56 billion (about US$105 million) came in via the Vanuatu Development Support Program and the Vanuatu Contribution Program (collectively, the Vanuatu Citizenship by Investment Program).
The CIP’s share of overall revenue continued to rise throughout the year and came very close to constituting half of all government revenue in December.
Rapidly rising revenues for the program come in spite of doubts surrounding the category of citizenship issued under both the VDSP and VCO. A lively – and still ongoing – debate on the topic has taken place on IMI in recent weeks:
- Lesperance: Vanuatu’s So-Called CBI Program is a Ticking Time Bomb
- Harris: In Response to the Question of Honorary Citizenship in Vanuatu
- Vanuatu Introduces Tax ID Numbers – What Does it Mean for Citizenship Investors?
Want to know more about the Vanuatu CIP? To see recent statistics, official links, FAQs, and more, please visit its Program Page. To see which firms can assist with applications to the program, please visit the Residence & Citizenship by Investment Company Directory.