According to revenue records made available by the Vanuatu Government, they received $132.6 million from its Vanuatu Citizenship by Investment Program in 2020, breaking the record of growth for a 5th consecutive year.
The data shows how much the Vanuatu Citizenship by Investment Program have benefited the country by being one of the main sources of income to the national economy.
The VDSP and the VCP programs have proven to be a reliable source of funds for the country and since 2016 there has been a major and constant growth with each passing year, going from 24.4% year-on-year growth in 2016, to 87.6% in 2018 and rising to 132.6% in 2020 showing an increase of 27.2% in relation to the previous year.
What could have been a very challenging year from an economic point of view, turned into a manageable one. Vanuatu’s borders have remained closed since April 2020 bringing down the tourism rates to almost zero, meaning income from this source became almost non-existent. However, the financial contributions through the Vanuatu Citizenship by Investment Program helped keep the country afloat during 2020. According to the Vanuatu Department of Treasury and Finance, in 2020 Vanuatu government revenue sources were as follows: 42% from DSP, 19% came from VAT, 8% from excise tax, 17% came from import and export duties, 9% from foreign aid, and 13% from other sources.
Source: Christian Henrik Nesheim. “Vanuatu Sets New CBI-Revenue Record for 2020 in 5th Consecutive Year of Growth”. March 14, 2021: https://www.imidaily.com/editors-picks/vanuatu-submitting-cbi-real-estate-option-bill-to-parliament-this-month/