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Citizenship In One Of The World’s Happiest Countries Now Can Be Bought By Bitcoins


10/18/2017


Citizenship In One Of The World’s Happiest Countries Now Can Be Bought By Bitcoins
If one has some bitcoins in the digital wallet and desires to go to paradise – the digital coins can be easily used to buy a second passport.
 
In order to apply for so-called investment citizenship, outsiders will be allowed to use the volatile cryptocurrency at Vanuatu, a South Pacific archipelago of some 80 islands. The New Economics Foundation, a U.K.-based think tank, calls this place the fourth-happiest country in the world and your family of up to four can receive passports from ta place if one can fork over the equivalent of about $280,000.
 
Passports for the whole clan cost about 53.8 bitcoin with the digital currency reaching a record price of $5,209 on Thursday, more than five times its value at the start of the year.
 
Vanuatu is the first to allow payments via bitcoin even though islands like Antigua, Grenada, Malta, and St. Kitts and Nevis has been also offering citizenship for a price and therefore Vanuatu isn’t the only island to do so. Investment Migration Insider, a website focused on investment citizenry, carried the announcement in the form of a press release.
 
There are also a number of advantages for the offer of citizenship by Vanuatu. According to the Passport Index, a list of rankings maintained by Arton Capital, a company that facilitates foreign residence and citizenship applications, providing visa-free visits to 116 other countries, the country has the 34th-most-“powerful” passport in the world. While the U.K. is in a tie at third place, the U.S. at fourth, and Russia at 40th, Vanuatu falls right below Panama and Paraguay (tied) and above Dominica.
 
There is also no corporate tax, no income or inheritance tax in the country. according to the Vanuatu Tourism Office, it’s not even customary to tip there. With about a three-and-a-half-hour flight from Sydney to Port Vila, the capital, the archipelago is relatively accessible. The world’s largest diveable wreck—the SS President Coolidge, a luxury liner-turned-troop ship that sank during World War II, is placed in the country and hence the country would be appreciated well by scuba aficionados.
 
Your own private island may be within reach because of Vanuatu’s abundance of islands and relatively small population (about 290,000), if one really wants a place to escape. The island of Lenur, priced at about $645,000, is the least expensive one currently on the market, according to real estate website Private Islands Online. An open-plan kitchen, a handful of sleeping bungalows, and 84 acres including three sandy beaches will be available to the owner buying that at that price. Coconut, fruit, and nut trees covers most of the area of the property.
 
Still, tropical life doesn’t come without risks like investing in cryptocurrency in the first place. Because of a volcano - Manaro Voui, had rumbled to life and was spewing steam and rocks, residents had to be evacuated from the northern island of Ambae earlier this month.
 
(Sourcec:www.bloomberg.com) 


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