World: Citizenship by Investment Programme is the key of opportunities for all who are seeking to open the ways in other countries which are locked due to their current citizenship restrictions.
Sources revealed that the European Union and the United Kingdom are all set to place the Small Pacific nation of Vanuatu out of the visa waiver heaven, citing a significant hitch.
The countries which offers Citizenship by Investment follow a multi-layered Due Diligence procedure held by third parties to thoroughly scrutinize the applicant and other members of the family. This procedure basically rechecks the individual’s history that the respected person has not been involved in any illegal activity.
Though, both Vanuatu schemes lack Due Diligence procedure, which is suspected of one of the reasons that might lead the country into the blacklisting.
Under the CBI program, an individual with an ordinary passport can travel the Schengen area without requiring a visa for up to 90 days within any 180 days. Those people have access to travel to the UK, and its crown dependencies for up to 6 months without a visa, including the Republic of Ireland.
Talking about Vanuatu, it currently administrates two different CBI programs – The Vanuatu Development Support Programme (VDSP) and the Vanuatu Contribution Programme (VCP) Programs. The vetting schemes for both programs are not accurate and form an immense concern of offering visa waivers or visa-free travel to Vanuatu residents.
In a recent interview with Financial Times, Vanuatu’s Minister of Foreign Affairs, Ralph Regenvanu, declared that the Vanuatuan administration has embarked on reviewing its due diligence procedures. The study, which is expected to be concluded before March 2020, illustrates Vanuatu’s commitment to bringing its scheme in line with the best industry standards, a feat that industry stakeholders should celebrate.
People in this modern age are seeking for better opportunities in different countries. They want to expand their horizons for business and other facilities which are lacking in their own countries. Visa-free traveling is the most prominent benefit of Citizenship by Investment Programs.
Vanuatu’s CBI Programs represent a significant role in the national economy as more than 50% of revenue was described by sales income in citizenships in the year 2020.
Apart from this, it is noteworthy that the Caribbean countries currently offering citizenship opportunities through investment follow a strict due diligence procedure to ensure the safety and security of the citizens as well as the integrity of the CBI Programme.