If you are an investor looking to invest in Vanuatu through a Vanuatu Residency By Investment program, the Vanuatu Permanent Resident Visa offered by the country might be the perfect option for you. A foreign national can obtain this permanent residency card even if he or she is not residing in the country.
You are eligible for a permanent residency visa in Vanuatu if your investment in real estate or agricultural land accounts for USD 100,000. If you are a retired individual, you need to prove your monthly income to be USD 2,500. On top of this, you will also incur an additional cost of $10,000 for a permanent residence permit in Vanuatu and $12,000 for a family.
In this article, we will deep dive into the advantages of having a Vanuatu Permanent Resident Visa, eligibility criteria and the application process that you need to go through.
Permanent Residence Visas
The immigration office residence permits two types of Permanent Residency Visas available in the island nation. A government fee of Vt 300,000 is charged for a single application for a Vanuatu Permanent Residency Visa.
Part A, subclass 131
A subclass 131 visa is granted to an individual whose parents are Ni Vanuatu or of Ni Vanuatu descent. This visa is also permitted to applicants staying in the country for the past year. To apply for this visa, an individual needs to put in his/her application to the Office of the Director, Vanuatu Immigration Services through Form 3-0.
Part B, subclass 132-135
The subclass 132-135 visa is granted to foreign investors who are looking to make a significant investment in the country. As compared to the normal Vanuatu Resident Visa, the eligibility and requirement criteria for this type of visa are quite stringent. However, on the other hand, there are many amazing benefits of this type of Permanent Residence Visa. Interested individuals can apply for this visa by applying to the Director’s Office, Vanuatu Immigration Services through submitting Form 3-1.
Vanuatu Permanent Residency Green Card
The Permanent Residency Green Card issued by Vanuatu is one of the fastest in the world. Vanuatu takes only a day to issue the PR Green Card for individuals. Moreover, applicants don’t need to make any prior investment for the PR card. The processing time for this card is very fast – it takes only five days. In addition to all of this, there is no personal visit required nor residency conditions for the interested applicant.
-Applicants need to be 18 years old and above
-Applicants should possess a valid passport
-Applicants need to pass police clearance
-Applicants need to own assets worth USD 350,000 or more
Types of Residency Visas
There are three types of residency visas in Vanuatu – the Self Funded Visa, the Land Owner Visa-USD, and the Investor Visa. These visas are usually granted to individuals for a shorter period (one year) if the individual invests $50,000 or can prove that he or she has enough income to reside and that they can sustain themselves in Vanuatu.
Vanuatu Land Owner Visa
The island nation offers the Land Owner Visa to foreign applicants. If an individual makes a minimum investment of USD 90,000 (Vt 10 million) or more, the person is eligible to apply for the Vanuatu Land Owner Visa. The Land Ownership Visa is the perfect option for people who want to reside in Vanuatu and lease real estate properties in the country. Applicants must keep in mind that there are no freehold lands in Vanuatu. In the case of residential lots, real estate properties can be leased for 50 years. When it comes to commercial lots, properties can be leased for 75 years.
You can easily direct your foreign investment in real estate or lands in Vanuatu. Please keep in mind that if you are planning to buy an urban property, you need to have a financial as well as a professional reference. To invest in a property in Vanuatu, you don’t need any authorization from the Vanuatu Investment Promotion Authority (VIPA), nor an Investor’s certificate or a business license. Also, if you are planning to buy a residential property in the country, you are exempted from 15% VAT.
Foreign Investor Visa
An individual can apply for this visa product if he or she invests an amount of $50,000 in a Vanuatu Investment and Promotion Authority (VIPA) approved project. In addition to this, the individual also needs to showcase his or her foreign investor certificate issued by VIPA. This document will allow you to establish and run your business in Vanuatu freely. Moreover, an applicant also needs to show his or her business license proof.
Self Funded Visa
If you are a retired person with a pension or an expat traveling to Vanuatu, a Self Funded Visa will be the perfect fit for you.
You need to have proof of income to apply for all the above-mentioned visas. Generally, an individual applicant needs to showcase that they earn 250,000 Vatu per month. The amount incurs to 500,000 Vatu per month for families.
Tax in Vanuatu
The island country of Vanuatu is very tax-friendly for residents. Income tax, corporate tax, wealth, or inheritance tax are not levied on Permanent Residents of the country. The Vanuatu tax residency regulations make the country a hot spot for international companies and investors.
Vanuatu Residency Visa – application process
Vanuatu has assigned two organizations to issue Permanent Residence Cards for foreign nationals. You can apply for the Vanuatu PR card that is valid for 10 years through these companies.
Here is a list of documents that you would require for the application:
-Applicants must have a valid passport
-Applicants should not have any criminal record
-Proof of income/assets
-Undertaking letter addressed to the Government in Vanuatu
-2 color photographs of yourself
If you are residing in the Greater China area, you can apply through PRG Consulting Limited (an organization approved by the Vanuatu government). For all queries related to your Permanent Residency Card, you can connect with the Vanuatu immigration contact person – the duty officer of the Vanuatu Immigration Department in Hong Kong.
Frequently Asked Questions
How do I get a Permanent Residency in Vanuatu?
By investing in a real estate property worth USD 100,000 or by showing income proof of USD 2,500 per month, an individual can apply to obtain Permanent Resident Visa in Vanuatu. Although, after 10 years of living in Vanuatu, a permanent resident can also apply for Vanuatu citizenship as part of the naturalization process.
Is a Resident Visa the same as a Permanent Resident?
No, a Permanent Residence Visa and a Resident Visa are not the same. Generally, an applicant is issued a Resident Visa first and then a Permanent Residence Visa, as a second step.
Does a residency visa expire?
Yes, a Residency Visa does expire. Generally, Residency Visa permits are valid for a period of two years and you need to renew it thereafter.
How do I move to Vanuatu?
You can relocate to Vanuatu by applying to Vanuatu’s Citizenship By Investment program for foreign nationals.
How powerful is the Vanuatu passport?
If you have a Vanuatu passport, you can travel visa free to 49 countries across the globe. The visa free travel countries list includes popular destinations like the UK, Singapore, and Russia. Vanuatu citizens are also permitted to stay in the UK without a visa for a period of 180 days.
To know all about Vanuatu, you should explore the following articles:
- Vanuatu Citizenship by Investment – The Ultimate Guide by Experts
- The Vanuatu passport
- Relocating to Vanuatu
- Everything you need to know about retiring in Vanuatu