Second Passports By Investment
With the success of citizenship by investment programmes in recent years for a number of countries in the Caribbean we are now seeing more Pacific countries adopting these as a valuable income stream.
The South Pacific islands have already witnessed their first citizenship by investment programme with Vanuatu launching its scheme in 2017. Vanuatu requires an investment of $220,000 for a single applicant or $280,000 for a family. Being a commonwealth nation country its passport is valuable offering visa free access to over 125 countries including the UK and the 26 European countries of the EU Schengen zone.
Fiji: $125,000 (£94k) investment for residency
Living in sun-kissed Fiji year-round may seem like the preserve of the mega-rich but you only need to invest a minimum of $125,000 (£94k) in a property there to qualify for permanent residency, plus you get full citizenship if you live in the country for five years or more.
So who could benefit from the considerable investment brought in from such a programme? Such countries include Micronesia, Kiribati, Marshall Islands, Solomon Islands, Pitcairn Islands, Nauru, Timor-Leste, Tuvalu, Cook Islands, Fiji, Papua New Guinea, Samoa and Palau.
Many of these Pacific countries have the same advantage as Vanuatu and the Caribbean islands above, that is membership of the Commonwealth and resulting access to many countries visa free. But while we await any future developments investors have no shortage of choice from existing programmes.
At South Pacific Business Advisory www.spbadvisory.com