The Government of Vanuatu decided to review, re-assess, and restructure its Citizenship by Investment Programme, assuring a robust offering to the applicants.
The Citizenship Commission assisted the Government by identifying the loopholes and risks to the country’s Citizenship Programme, which further backed the Vanuatu administration to adopt a more potent due diligence and marketing structure.
In order to accomplish its preys, Vanuatu Government officially finalized a contract with the well-known, UK based service provider, due diligence international company – FACT.
The Government’s press release statement underscores, “We are proud of the advanced steps we have taken as a nation to strengthen the application as well as verification process of our Citizenship by Investment programme, and after a protracted selection process of onboarding strategic partners, we are looking forward to shaping the programme to be highly reputable & globally recognized”.
“We take the safety and security of all countries very seriously, and we will not compromise even a little bit on the security checks of applicants who are looking to gain Citizenship in Vanuatu. Our efforts in increasing capabilities in this area are a testament to our respect for international relations.”
The firm promises to provide extensive checks of each programme applicant in terms of their identity and criminal records via going through a rigorous check encircling sanctions lists, open-source checks, and on-the-ground inspections. CBI applicants who fail due diligence identities or criminal records will be facing the consequences, being reluctant from obtaining Vanuatu’s Citizenship Programme.
FACT is among the renowned companies providing extensive services of due diligence, which will assure that reputable investors acquire the citizenship of the country. No resources will be spared in the due diligence exercise to guarantee the protection and security of both Vanuatu and the international community.
This due diligence retroactively checks would be made on each individual who applied for the Citizenship by Investment Programme in the tenure of the past six years, that is, since May 2015, so as to make sure that only reputable applicants are approved to reside in the island. If an applicant fails to meet the standards of the due diligence check, then the government will revoke the citizenship of that individual.
Apart from this, as per the statement of the government issued in the press release, a multi-layered approach involving several entities, including authorized agents, CBI Units, an independent due diligence firm, law enforcement and intelligence agencies, and partner governments, will be utilized by the government to help in the comprehensive checks.
Furthermore, the world’s leading government advisory and marketing firm, CS Global Partners, will be assisting the Government in restructuring, reshaping and redesigning its CBI programme, meeting the international standards.
This step of taking a proactive stance for its CBI by the Government is appreciable, seeing which the European Union must take back its decision of declaring the passports as invalid of those applicants who did not undergo the comprehensive process of due diligence.