The South Pacific island nation of Vanuatu is now accepting bitcoin for its full citizenship program, worth $200,000 USD. The country offers citizens no income or capital gains tax, and investment opportunities.
Passport and Investment Opportunities for 42 BTC
Vanuatu becomes the first country in the world to accept bitcoin for its full citizenship program, all for around 44 BTC. It’s a small country in the South Pacific Ocean near Australia, made up of roughly 80 islands over 1300 square kilometers.
One can get lifetime citizenship and visa under the VDSP (Vanuatu Development Support Program). You won’t require a language test and don’t even have to live there to qualify. Real estate is available for investment, and dual citizenship is freely allowed in the country. You can also ask for a permanent residence card under VDSP program.
The bitcoin price is booming — $4,760 USD at present market rate. That means right now, you need just 42.02 BTC to get Vanuatu citizenship under the program.
Tropical Island Paradise
Vanuatu is famous for sea activities like scuba diving at coral reefs, and underwater caverns and wrecks. Apart from that, the country is a member of Commonwealth of Nations and provides visa-free travel to approx. 113 countries including the United Kingdom, the European Union States, and Russia.
It offers low taxes for those who buy citizenship of the country, and has no income or capital gains taxes. You’ll also get a second passport.
James Harris, managing director of the Vanuatu Information Centre Network, said there remains some suspicion surrounding the use of cryptocurrency in financial transactions, and some fears that it can be related to undesirable activities.
“In fact, the opposite is true, as crypto-currency exists in a fully traceable ledger where the entire history of its creation and trading is visible,” he then added.
Citizenship by Investment Program
Many countries provide citizenship and visas in exchange for massive investment. The sole aim of this practice is to promote local business and property prices.
Earlier, the Commonwealth of Dominica announced foreigners could buy citizenship of the county for a $100,000, one-time contribution to the country. It is the cheapest citizenship-by-investment program in the entire world.
Similarly, the Thailand government is offering seven different visa packages at reasonable prices. They’ll ask for $60,000 in exchange for an “Elite Ultimate Privilege” residency visa… plus $600 per year “membership”.
So far though, Vanuatu is the only country to accept bitcoin for full citizenship.
Would you become a Vanuatu citizen for 42 BTC? Let us know.
Images via Pixabay