The government of Vanuatu declared to review its Citizenship by Investment Programme by strengthening the due diligence and marketing process. The decision to review a comprehensive vetting on all applicants granted citizenship in the last six years was also taken on Friday.
By comprehending the significance of the Programme and its influence on the country, the Vanuatu government has taken a fierce perspective to examine and re-evaluate the architecture of the Programme to assure a potent offering that not only furnishes economic growth to the whole nation but also proposes security and protection to the international community.
The Citizenship Commission has made great strides to specify the risk of the Programme at the forefront of the government’s intention, which has led the government to take powerful action by adopting a stronger due to diligence and more streamlined citizenship process.
The government has formally completed the engagement with its first international due diligence service provider, UK agency, FACT, in line with the nation’s intent.
Robust due diligence service will be provided by the company’s first of the several leading global due diligence agencies to be appointed. Trained by the Federal Bureau of Investigation (FBI), the CEO of the Fact UK, Kieron Sharp, has vast international experience. He previously served as Head of economic crime at Interpol.
The government has taken the decision as its first attempt to vet CBI applicants comprehensively. FACT UK will execute comprehensive checks covering embargoes lists, open-source reviews, and on-the-ground assessments.
It also directs to intelligence, IP protection, and computer forensic, along with forensic investigation and security confirmation.
Only reputable investors can obtain citizenship; Vanuatu’s due diligence processes will ensure this after being enhanced. Therefore, every application of investor application will undergo a thorough and prudent audit to mitigate any security, financial crime, and reputational risks.
No resources will be limited in the due diligence exercise to assure Vanuatu’s protection and security and the international community.
The Government of Vanuatu shall run complete due diligence checks on all CBI applicants vested citizenship in the last six years to guarantee that only reputed applicants have assented. If a person who became a citizen under the CBI fails the due diligence check, his/her citizenship will be revoked.
Vanuatu will use a multi-layered process applying several entities, including official agents, CBI Units, an independent due diligence firm, law enforcement and intelligence agencies, and partner governments.
To re-establish the Programme’s protocols, a detailed review of the Programme will be undertaken, bringing the Programme in line with internationally accepted standards.
Vanuatu’s newly appointed Marketing Service Provider, UK based leading marketing services company CS Global Partners, will assist and guide the government to redesign the entire CBI Programme.
The government said it is proud of the developed actions they have taken as a nation to support the application and confirmation process of their Citizenship programme. After a lengthy selection procedure of onboarding strategic partners, they look ahead to shaping the Programme to be admiringly reputable and globally acknowledged.
The Vanuatu government said it takes the safety and security of all nations very seriously and will not compromise on security checks of applicants looking to gain citizenship in the country. Its measures in increasing capabilities in this area are testament to their respect for international relations. Vanuatu has been doing thorough work with international partners to ensure that it can compete successfully in the global market.
The country’s parliament recently passed its first Cybercrime Act, following technical assistance received in 2018 from the Council of Europe via its Global Action on Cybercrime Extended (GLACY+) project, which aims to coordinate the country’s national legislation with global benchmarks in the field.
The country has a well-established bond with the Council of Europe, having participated since 2011 in some fifteen regional, international, and national capacity building activities.
