Vanuatu has announced the launch of the Capital Investment Immigration Plan (CIIP) – Coconut Oil (CNO) Future Fund, which is the world’s first Citizenship by Investment (CBI) program explicitly tied to environmental sustainability. This innovative program, introduced by the Vanuatu Investment Marketing Bureau (VIMB), which is the Government Designated Agent, offers a unique opportunity for investors to gain citizenship while contributing to renewable energy initiatives.
Contribution Plus Investment
To qualify for Vanuatu’s citizenship under the new CIIP-CNO Future Fund option, investors must contribute at least $115,000 to the government fund, plus invest at least $50,000 in the country’s coconut oil industry. This investment will be fully redeemable and with ROI (return on investment) potential after the mandatory retaining period of five years. Moreover, the abovementioned contribution and investment thresholds allow investors to include up to three family members as dependents in the CBI application. Each additional dependent will cost $25,000. CBI applicants must also cover the Due Diligence and Administrative Fee of $8,000, and other minor expenses.
Comparison With DSP
Compared to the Development Support Program (DSP), another arm of the Vanuatu CBI program that has been operational since 2017, the CIIP-CNO Future Fund looks more attractive to potential investors. As a single applicant, an investor must contribute at least $130,000 to qualify for citizenship under the DSP, plus cover the Financial Intelligence Unit (FIU) Due Diligence fee of $5,000. The minimum contribution for a family of up to four members is $180,000, more expensive than the CIIP-CNO Future Fund option requires – a $115,000 non-refundable contribution, plus $50,000 investment, which is refundable with potential for ROI.
Application Process
To qualify for the CIIP-CNO Future Fund, applicants must have a clean criminal record, provide proof of funds, and undergo the FIU Due Diligence checks. The straightforward application process can be completed within three months, and applicants are not required to visit Vanuatu. Qualified investments and contributions must be paid only after receiving the CBI application approval in principle.
Ambitious Plan
Funds allocated through the CIIP-CNO Future Fund will be directed to developing Vanuatu’s coconut oil sector and renewable energy production, aligning with the nation’s ambitious climate adaptation policies. The country’s strategy is to achieve fully renewable energy in electricity generation by 2030.
Daniel Agius, Chief Operating Officer of VIMB, highlighted the program’s revolutionary nature. “The CIIP-CNO Future Fund not only offers citizenship but also allows investors to directly support global sustainability efforts by investing in renewable energy projects,” Agius stated.
The CNO Future Fund aims to enhance crude coconut oil production, a crucial element of Vanuatu’s Low Emissions Development Strategy (LEDS). By 2050, this strategy envisions coconut oil replacing diesel in electricity generation, contributing significantly to the country’s renewable energy goals.
Benefits of Vanuatu Citizenship
Beyond its environmental advantages, Vanuatu citizenship provides practical benefits, including visa-free or visa-on-arrival access to over 100 countries and a tax-friendly financial system. The CIIP-CNO Future Fund expedites citizenship acquisition within 60 to 90 days for a family of up to four, with the option to include additional dependents, including a spouse, children, parents, and grandparents. Hence, families seeking a secure future and ways to diversify their assets may find Vanuatu’s CBI program as a solution. Alternative citizenship and second passports can provide future generations with greater travel freedom, financial and business opportunities, and peace of mind in general.
Vanuatu’s strategic location in the Pacific Ocean enhances its appeal to international investors. The country is a short flight from major cities in Australia, New Zealand, Papua New Guinea, and Fiji. Vanuatu’s main international airports on Efate and Santo islands have been upgraded to meet international standards, facilitating seamless travel from key regional markets.
Port Vila, the capital, serves as the primary hub for cargo arrival and distribution, with robust shipping connections to New Zealand, Australia, and Asia. This logistical advantage, coupled with Vanuatu’s favorable tax regime and participation in regional trade agreements, positions the country as an attractive destination for investment and export opportunities.