To acquire citizenship in Vanuatu is now possible with bitcoin

To acquire citizenship in Vanuatu is now possible with bitcoin

Vanuatu became the first country in the world, which began to take bitcoin as an investment under the program of granting of citizenship. This writes the Business Insider.

Under this program, the citizenship of Vanuatu is provided for attachment to the economy of the Islands from $200 000. At the current exchange rate for bitcoin is $4 581 — issue price would be about 43,64 bitcoins, the newspaper notes.

Vanuatu, a small state located on Islands in the South Pacific, introduced the program “citizenship in exchange for investments” in 2015, So it has decided to raise funds for the restoration of areas affected by the devastating hurricane.

Vanuatu is a member of the British Commonwealth. His citizenship gives the right to enter without a visa in 113 countries, including the UK, Russia and the EU. Also for buyers of citizenship offered low taxes, and to take advantage of this program do not have to live in Vanuatu, nor even to go there at least once.

Remain suspicions about the use of cryptocurrency in financial transactions and concern that the transaction may be associated with unwanted for the country activities, the Director of the network of information centres Vanuatu James Harris. He added that the opposite is true: the cryptocurrency exist in the fully-monitored registry, where you can see the entire history of their creation and transactions.