Vanuatu, My Country ‘Tis Of Thee – If You Have 45 Bitcoins

Blockchain, FinTech, News | October 11, 2017 By:

You can buy coffee, plane tickets, even art with bitcoin. Now you can also buy citizenship to the South Pacific island nation of Vanuatu, the first to offer full citizenship for bitcoin.

Vanuatu, located near Fiji, is offering full citizenship in exchange for $200,000 in bitcoin (or about 45 single coins at today’s prices). The nation is a Commonwealth country, part of an intergovernmental organization of 52 member states, most of them former British colonies. That means you can travel visa-free to 113 other countries.

As a bonus, Vanuatu has low taxes, excludes taxation on capital gains, and has no yearly income tax. Just FYI, it also has a history of cannibalism and the unique form of worship known as cargo cults.

Geoffrey Bond, Chairman of the Vanuatu Information Centre, said the nation would engage in due diligence on its prospective citizens, and run any bitcoin transactions through an Australian cryptocurrency exchange to make sure they they regulator compliance standards.

Vanuatu is just the latest country to offer citizenship in exchange for an investment, but the first to offer the cryptocurrency option. Dominica ($100,000 price tag), St. Kitts and Nevis ($250,000) and Malta ($766,000) also offer citizenship based on investments. Of course, the US government also offers EB-5 visas, whereby someone can get a green card if they invest in a business that will provide at least 10 new jobs. The price tag is a minimum investment of $500,000.