The Development Support Program (DSP) has become one of the most popular CBI programs nowadays due to its credibility and its straightforward application process. However, even when the DSP is only promoted by Vanuatu Government Designated Agents, there has been some Sub-Agents trying to manipulate the market by undercutting the Government Mandated Fees.
The Citizenship Investment Fees are set by the Government of Vanuatu, and any discount from the government retail minimum fees are permitted under any circumstances. However, the Vanuatu Citizenship Commission has been informed about some “authorized” sub-agents who are promoting the program at lower rates, which violates the Regulation Order number 33 established by the Vanuatu Government in 2019.
These actions are being investigated as fraud cases since they can cause a major damage to the program. Promoting Vanuatu Citizenship without following the mandatory regulations makes the program lose its credibility, not to mention that people who have previously gone through the same process feel angered to know that these clients have paid a considerably lower amount of money for their citizenship application process. That is one of the main reasons why Mr. James Elcocke-Harris, Vanuatu’s Honorary Consul to the United Kingdom, has announced that a blacklist containing the names of agents carrying out these fraudulent actions will be created.
Commenting on this unfortunate issue for the Development Support Program, Mr. James Elcocke-Harris said, “Although it is an exciting period of growth for the Vanuatu DSP, we have seen that there is a lot of confusion surrounding Program Regulations and in particular the matter of fees payable for Citizenship. Lack of adherence to the Citizenship Commission’s own fee directives by some agents is undermining the credibility of the program and is the cause of some disquiet amongst prospective applicants who are unable to obtain reliable information”.
In efforts to guarantee people’s safety during the citizenship process, VIMB encourages the applicants to make sure they are in contact with a Vanuatu Government Designated Agent and not with a non-authorized one by asking them to provide a letter of authorization emitted by the Vanuatu Government. This way their funds wouldn’t be put at risk in case of any inconveniences during the process.