Description

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Context:

The Prime Minister of Vanuatu has directed the Citizenship Commission to cancel Lalit Modi Modi's passport.

About the Vanuatu CBI Program

The Vanuatu Citizenship by Investment (CBI) program, also known as the Golden Passport program, allows individuals and families to acquire Vanuatu citizenship by making financial contributions to the country's economy.

This program is recognized as one of the fastest and simplest citizenship programs globally, requiring minimal documentation and no mandatory physical presence in Vanuatu.

Key Advantages of Vanuatu Citizenship

Visa-Free Travel

A Vanuatu passport grants visa-free access to about 113 countries and territories, including the UK, Russia, South Korea, and Turkey, surpassing passports of countries like Saudi Arabia, China, and India in terms of travel freedom.

Tax Haven Benefits

Vanuatu operates as a zero-tax jurisdiction. Citizens benefit from no personal income tax, capital gains tax, inheritance tax, or wealth tax. While indirect taxes like VAT and property transaction taxes exist, they generally remain lower than in many other countries in the South Pacific.

Speed and Simplicity

The Vanuatu CBI program is known for its rapid processing times, often ranging from 30 to 90 days after application submission. The application process is streamlined, requiring very few documents, and can be completed entirely remotely without the need to visit Vanuatu.

Family Inclusion

Citizenship applications can extend to include the applicant's spouse, dependent children (up to 25 years old), and parents.

Eligibility Criteria and Application Process

To qualify for the Vanuatu CBI program, applicants must:

Be over 18 and generally under 65 years of age
Possess a clean criminal record
Demonstrate a minimum net asset value of $250,000, with at least $250,000 in banking assets
Provide required documentation, including passport copies, birth and marriage certificates, police clearance certificates, and medical check-up results

Recently, fugitive former IPL chief Lalit Modi has acquired Vanuatu citizenship and applied to surrender his Indian passport to the Indian High Commission in London. However, Vanuatu's Prime Minister has directed the Citizenship Commission to cancel Modi's passport, mentioning concerns about attempts to avoid extradition.

About Vanuatu

Geography

Vanuatu is a Pacific island nation located in the South Pacific Ocean.
The archipelago consists of 83 volcanic islands, of which 65 are inhabited.
The largest island is Espiritu Santo, followed by Malakula and Efate.
The capital city, Port Vila, is located on Efate Island and serves as the nation's administrative and economic center.

Demography

Vanuatu's population was about 300,019 according to the 2020 census. The population is predominantly Ni-Vanuatu, a group of closely related Melanesian ethnic groups.

More than 93% of the population practices Christianity, with Protestants being the largest denomination.

Bislama is the national language, while French and English are official languages.

Economy

Based on subsistence agriculture, with about 65% of the population engaged in small-scale farming. Major crops include coconut, kava, and cocoa.

Vanuatu operates as a tax haven, with no personal income tax, capital gains tax, inheritance tax, or wealth tax.

The country has developed a popular citizenship by investment program, which accounts for an important portion of government revenue.

Source:

INDIAN EXPRESS

PRACTICE QUESTION

Q. Consider the geographical location of Vanuatu. Which of the following statements are accurate?

1. Vanuatu is situated entirely within the Southern Hemisphere.

2. The International Date Line passes directly through Vanuatu.

3. Vanuatu is located in Melanesia, a subregion of Oceania.

How many of the above statements are correct?

A) Only one

B) Only two

C) All three

D) None

Answer: B

Explanation:

Statement 1 is correct:

Vanuatu is located in the South Pacific Ocean between latitudes 13 to 21 S and longitudes 166 to 171E, placing it entirely south of the Equator and thus within the Southern Hemisphere.

Statement 2 is incorrect:

The International Date Line does not pass through Vanuatu. It runs roughly along the 180° meridian but bends to avoid cutting through countries. Vanuatu lies to the west of the International Date Line and operates in a single time zone, which is UTC+11.

Statement 3 is correct:

Melanesia is a region in the southwestern Pacific Ocean that includes islands from New Guinea to Fiji. Vanuatu is geographically and culturally part of Melanesia, along with countries like Papua New Guinea, Solomon Islands, Fiji, and New Caledonia.

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