Page 145 - Decadence

From 2018 a VIC will be established in London to cover the European, Middle Eastern and African markets.
“Vanuatu is quite mountainous and sits on the Paci c ring of re. There are a few active volcanoes and seismic activity isn’t unusual, but nothing to be alarmed about. There’s an active volcano on the island of Tanna which has become a popular tourist attraction. You can go there and look inside the volcano and even “ash surf” down the slopes.
“The weather is good all year round. In the daytime the temperature may get up to 28C but not much more than that. At night it may drop to 20C.
“Vanuatu’s principal revenue source is tourism. We are relatively close to Australia and New Zealand, so that’s where most of our tourists come from. Cruise ships coming from Australia regularly stop at Port Vila. One comes every day. The people come ashore for a few hours and do some sightseeing and other activities and then get back on their ship and head off.
“At present there aren’t many expats living in Vanuatu, although there is a small Australian community. They co-exist with the locals without con ict. Vanuatu is virtually crime-free and very peaceful. There isn’t a regular armed force; we rely on Australia for any security support we may need. I would describe the vibe as relaxed Polynesian – actually, compared to the Caribbean there is very little underlying tension. In a con ict-ridden world, Vanuatu is a genuine refuge and welcome retreat.
“Up until 1980 Vanuatu was jointly administrated between France and the UK. Since granting independence it seems that the UK passed the responsibility for looking after the country to Australia, which has quite a presence in Vanuatu and is quite a friendly neighbour. Vanuatu is a member of the United Nations. The currency is the vatu but other currencies are used there, especially US and Australian dollars. Vanuatu has become quite a signi cant offshore nancial centre.’’
“Vanuatu is the only nation in the Asia Paci c hemisphere that has a citizenship by investment program. Citizenship is conferred on people who make a donation to the country in the amount of US$280,000 (under which a “family application” of up to four can be made. A “single” applicant rate of US$220,000 has also recently been introduced by VIC). Basically, you have the same rights and privileges as a native Vanuatu citizen, except that you cannot stand for government of ce or get involved in politics in any way. Anyone can apply, but there’s a due diligence process. All applicants are screened by the Financial Intelligence Unit, which includes a nancial and criminal record check. Then the citizenship committee reviews the applications. Those that are endorsed go to the prime minister for his signature and then ultimately to the president, who is the head of state. It is the president who actually confers citizenship.
“They are many opportunities for investment in Vanuatu. The shing industry is signi cant there, there’s also a signi cant beef industry the French introduced. Certainly, if we have direct ights between Bangkok and Vanuatu in the future there will be a signi cant upturn in tourism and big opportunities in the hospitality sector. I would like to see more overseas investors get involved. I would say that Vanuatu will de nitely need more hotels. At present probably the best hotel is a Ramada in Port Vila which opened in 2017. It is four-star and very nicely done. We hope it will set the standard for others to exceed. There are plenty of gorgeous locations on our many islands and a wealth of prime beach-front land still available to purchase for investment or living.”
145