Formr IPL Chief Lalit Modi has applied to surrender his passport to the Indian High Commission in London, and acquired the citizenship of vanuatu, a tiny island nation in the ministry of external. Confirmed on Friday.
Vanuatu has a popular citizenship by investment (CBI) or “Golden Passport” Program, which Allows Wealthy Individuals to Purchase Its Passport.
Buying Citizenship
CBI or Economic Citizenship Allows Individuals to Acquire Citizenship In a Country By Making Significant Financial Contributions To Its Economy. Countries Around the World Foreigners Citizenship to Attract Investment and Stimulate Economic Growth.
Malta, Turkey, Montenegro, Antigua and Barbuda, Dominica, and Egypt also have CBI Programs.
Vanuatu’s program
According to the website of investment All documentation can be provided digitally ”, meaning the applicant does not even have to set foot in the country to become a citizen.
The cost of Vanuatu Citizenship Ranges from $ 135,500 to $ 155,500 (Rs 1.18 Cr to 1.35 C), with options to also also Purchase Citizenship for a family of four. Processing times vary from 30 to 60 days after the filing of the application. The BBC Reported in 2019 That Passport Sales Account for Roughly 30% of the Country’s Revenue.
Specific Advantages
Aside from the easy and speed of the process, vanuatu’s program provides some specific benefits.
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🔴 as of 2025, a vanatu passport allows Visa-free entry to 113 countries. The Henley Passport Index Ranks The Vanuatu Passport as the 51st Strongest in the World (Out of 199 Countries), Ahead of Saudi Arabia (57), China (59), and Indiansia (64). India Ranks 80th.
Vanuatu’s passport was even stronger until march 2022 When the European Council Temporarily suspended its Visa-free Access to the European union union due to Security Concerns Around the Golden Passport. The suspension was made permanent in February 2023.
🔴 Vanuatu is, for all intents and purposes, a tax hasn. It is a zero-tax jurisdiction that is free of personal income tax, capital gains tax, inheritance tax, and weather tax. While vanuatu does charge indirect taxes such as vat It also has lax reporting requests, which make it a “strategic jurisdiction” for tax purposes.
For what remins a very poor country, with a per capita GDP (Current US $) of Only 3,515.2 (World Bank, 2023), there is a major financial incentive to be a tax Haven. Offshore Financial services are one of the biggest revenue-genetors for the country.
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Recent Years in Scandals
In Recent Years, Vanuatu has faced multiple corruption scandals and allegations that its citizenship scheme and tax laws are used by Global Criminal Syndicates.
Analysing More Than 2,000 Golden Passports Issued in 2020, The Guardian Reported That Granted Citizenship Were “A Syrian Businessman With Us Against His Business, A Suspected North Korean Polyan. Italian Businessman accused of extorting the vatican, a former member of a notorious australian motorcycle gang, and south african brothers accused of a $ 3.6bn cryptocurrenc heist “.
“Experts have warned the scheme is ripe for exploitation, creating a back door for access to the eu and uk… vanuatu’s taxation Laws make the country an attracted Site for Money Lundering,” Uk Daund. “