The Vanuatu Citizenship Commission has officially opened the REO program to invest in real estate for citizenship by investment. This third option for the CBI program was launched on 26 Aug 2021
\nThe Citizenship (Real Estate Option) Program was enacted under section 13F of the Citizenship Act [CAP. 112] and Citizenship (Real Estate Option Program) Regulation Order No. 93 of 2021.<\/p>\n
An Applicant for Vanuatu Citizenship under the REO Program must purchase a property in a Vanuatu Government Approved Project (VGA Projects) and pay the relevant prescribed fees.<\/p>\n
Minimum Investment
\nMinimum purchase price USD 200,000 plus VAT on an approved development. (in the form of shares or titled properties)<\/p>\n
Applicants require payment of at least 10% deposit at the time of submitting the Application for Citizenship.<\/p>\n
The FIU does global probity checks on the applicant before issuing letter of approval for citizenship. Applicants are required to produce police criminal record certificate and upfront 10% deposit plus USD$5,100 for the FIU check and bank fees paid to submit the application. Once the file is approved after two months, the rest of the investment has to be paid.<\/p>\n
Approved Real Estate
\nThis A number of real estate developments were also approved under the newly launched Real estate option (REO) program. There are currently four approved VGA Projects as follows:<\/p>\n
\u201cPacific Springs\u201d situated at Rentabao on the island of Efate;
\n \u201cNarpow Point Coral Bay\u201d situated at Narpow Point on the island of Efate;
\n \u201cFPF Rainbow City Project\u201d situated at Narpow Point on the island of Efate;
\n \u201cMilai\u201d situated on the island of Espiritu Santo.
\nDownload the official approval (pdf)<\/p>\n
Vanuatu Real Estate Background
\nVanuatu property prices still remains the lowest in the world. Residential property prices average around US$800 \u2013 US$970 per sq. m.<\/p>\n
Lands in Vanuatu are not freehold. Properties can be leased for up to 50 years for residential lots and 75 years for commercial ones. There are no restrictions on foreigners buying property.<\/p>\n
Property prices have been steadily increasing over the years, especially due to increase in tourism, especially tourist arrivals combined with influx of chinese, australians and other expats.<\/p>\n
What are the property taxes applicable?<\/p>\n
2% Stamp Duty
\n5% Title Transfer Registration
\nIf the buyer is purchasing an existing company, the Stamp Duty is 4% on the Share Transfer Value, and because the shares in the lessee company are transferred, not the title itself, there is no 2% Stamp Duty fee.
\nLegals costs are usually between 0.5% \u2010 1.% of the purchase price.
\nVAT (currently 15%) is not payable by the purchaser on residential property. VAT is payable by a builder or property developers. VAT is payable by the purchaser on the sale of commercial property.
\nInsurance will cost about 0.5% to 0.7% (cyclone, earthquake, volcano eruptions etc)
\nProperty transfers take 2-3 months.<\/p>\n
Port Vila, coastal and harbour locations are good areas to buy a residential property. Efate is Vanuatu\u2019s main island, politically, economically, industrially and in terms of population and tourism.<\/p>\n
Best areas to invest The Vanuatu Citizenship Commission has officially opened the REO program to invest in real estate for citizenship by investment. This third option for the CBI program was launched on 26 Aug 2021 The Citizenship (Real Estate Option) Program was enacted under section 13F of the Citizenship Act [CAP. 112] and Citizenship (Real Estate Option Program) […]<\/p>\n","protected":false},"author":1,"featured_media":39102,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[3],"tags":[151,9575,636,308,4738,24084,287,635,32118,670],"class_list":["post-39101","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-caribbean","tag-citizenship","tag-commission","tag-estate","tag-invest","tag-officially","tag-opened","tag-program","tag-real","tag-reo","tag-vanuatu","post_format-post-format-video"],"_links":{"self":[{"href":"https:\/\/immigranttravels.com\/index.php\/wp-json\/wp\/v2\/posts\/39101","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/immigranttravels.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/immigranttravels.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/immigranttravels.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/immigranttravels.com\/index.php\/wp-json\/wp\/v2\/comments?post=39101"}],"version-history":[{"count":0,"href":"https:\/\/immigranttravels.com\/index.php\/wp-json\/wp\/v2\/posts\/39101\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/immigranttravels.com\/index.php\/wp-json\/wp\/v2\/media\/39102"}],"wp:attachment":[{"href":"https:\/\/immigranttravels.com\/index.php\/wp-json\/wp\/v2\/media?parent=39101"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/immigranttravels.com\/index.php\/wp-json\/wp\/v2\/categories?post=39101"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/immigranttravels.com\/index.php\/wp-json\/wp\/v2\/tags?post=39101"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nResidential \u2013 Port Vila, Tassiriki, Elluk, the Harbourfront, First Lagoon, Second Lagoon, Bellevue, Malapoa and the oceanfront subdivisions near town such as Dream
\nCommercial \u2013 Main street and central harbour
\nAgricultural land \u2013 Efate and Santo islands
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source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"