Vanuatu, world’s first county to accept bitcoin for its citizenship program

Skyborn

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Quote from: haroldtee on October 23, 2017, 05:10:38 AM

Quote from: Almat on October 23, 2017, 04:56:09 AM

Quote from: tomahawk9 on October 21, 2017, 07:56:19 AM

I don't meant to sound direspectful but, who would pay 44 BTC for a citizenship in Vanuatu? it is such a small and remote island, so far away from everything, and they're asking this sum for a citizenship? no wonder they denied it.
I don't mind hearing from small countries that are trying to adapt bitcoin as a payment method, but this is just nonsense.

I'm sure it doesn't make sense to us normal people, but I imagine that is a small amount to the truly rich. They might want a new citizenship for some reason, and it's always nice to have that option. But yeah, there doesn't seem to be any news about anyone biting on their offer. It's pretty funny.

Trust me, even the rich ones know how to spend their money better. Maybe I am wrong, but what are the opportunities you can really derive from being a citizenship of Vanuatu? May be that is where we should even start from first.

1. maybe because it is a place with no income tax. Hmm... that may be one good reason anyway.
2. Visa-free to 123 countries including 26 in the schengen zone of Europe (Now I am liking this the more).
3. Noted as the happiest place on earth (cannot still consider this as a huge benefit yet)

Well maybe, it may be worth it anyway most especially looking at 1 and 2. It is their law and they are really not begging anyone to or not to, but I feel there are still some benefits to gain here for someone with some bux to dash out. Checkout https://www.huffingtonpost.com/charmaine-belonio/could-vanuatu-be-the-best_b_9720004.html for reference of some of the benefits.

I agree that I don't think a lot of people will take advantage of this. Of course it's nice to have their citizenship and not need a visa for nearly any country in the world. But also for quite a hefty price. Maybe some people who have become incredibly rich off of bitcoin. They could be interested but that's already a very niche group that you are targeting. Nevertheless, it's a nice gesture.

BitSat

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Quote from: Monnt on October 23, 2017, 04:53:51 AM

Quote from: tomahawk9 on October 21, 2017, 07:56:19 AM

I don't meant to sound direspectful but, who would pay 44 BTC for a citizenship in Vanuatu? it is such a small and remote island, so far away from everything, and they're asking this sum for a citizenship? no wonder they denied it.
I don't mind hearing from small countries that are trying to adapt bitcoin as a payment method, but this is just nonsense.

Lmao…you killed it all lol.

I was even thinking the same thing; who is even interested to buy a citizenship for such a country at such rate of $200,000, What the hell ?

I have never heard of the country before, this is even my first time of knowing about it.

I am also reading first time we have country with this name in this world its interesting they are selling citizenship but cost is very high because we have some better countries with very less investment and too many opportunities its just wast of money need to do some research for better investment like this

coinplus

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Quote from: tomahawk9 on October 21, 2017, 07:56:19 AM

I don't meant to sound direspectful but, who would pay 44 BTC for a citizenship in Vanuatu? it is such a small and remote island, so far away from everything, and they're asking this sum for a citizenship? no wonder they denied it.
I don't mind hearing from small countries that are trying to adapt bitcoin as a payment method, but this is just nonsense.

This is not being disrespectful. It is just being realistic. It is a pretty huge sum of money normally and I do not see why I will have to pay that huge sum of money for citizenship if I do not have much to gain. Like you said, it is a remote island and it seems apart from tourism, the main occupation there is fishing, and I really do not know how an investor will fit in pretty quick with that except probably for vacations which I can easily get a visa for anyway.

Semar Mesem

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I am glad to hear that, Vanuatu is a beautiful country with a port port villa, I've been there about 8 months and I think this is a good move to make bitcoin for its citizenship program.

haroldtee

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Quote from: Almat on October 23, 2017, 04:56:09 AM

Quote from: tomahawk9 on October 21, 2017, 07:56:19 AM

I don't meant to sound direspectful but, who would pay 44 BTC for a citizenship in Vanuatu? it is such a small and remote island, so far away from everything, and they're asking this sum for a citizenship? no wonder they denied it.
I don't mind hearing from small countries that are trying to adapt bitcoin as a payment method, but this is just nonsense.

I'm sure it doesn't make sense to us normal people, but I imagine that is a small amount to the truly rich. They might want a new citizenship for some reason, and it's always nice to have that option. But yeah, there doesn't seem to be any news about anyone biting on their offer. It's pretty funny.

Trust me, even the rich ones know how to spend their money better. Maybe I am wrong, but what are the opportunities you can really derive from being a citizenship of Vanuatu? May be that is where we should even start from first.

1. maybe because it is a place with no income tax. Hmm... that may be one good reason anyway.
2. Visa-free to 123 countries including 26 in the schengen zone of Europe (Now I am liking this the more).
3. Noted as the happiest place on earth (cannot still consider this as a huge benefit yet)

Well maybe, it may be worth it anyway most especially looking at 1 and 2. It is their law and they are really not begging anyone to or not to, but I feel there are still some benefits to gain here for someone with some bux to dash out. Checkout https://www.huffingtonpost.com/charmaine-belonio/could-vanuatu-be-the-best_b_9720004.html for reference of some of the benefits.

Almat

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Quote from: tomahawk9 on October 21, 2017, 07:56:19 AM

I don't meant to sound direspectful but, who would pay 44 BTC for a citizenship in Vanuatu? it is such a small and remote island, so far away from everything, and they're asking this sum for a citizenship? no wonder they denied it.
I don't mind hearing from small countries that are trying to adapt bitcoin as a payment method, but this is just nonsense.

I'm sure it doesn't make sense to us normal people, but I imagine that is a small amount to the truly rich. They might want a new citizenship for some reason, and it's always nice to have that option. But yeah, there doesn't seem to be any news about anyone biting on their offer. It's pretty funny.

Monnt

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Quote from: tomahawk9 on October 21, 2017, 07:56:19 AM

I don't meant to sound direspectful but, who would pay 44 BTC for a citizenship in Vanuatu? it is such a small and remote island, so far away from everything, and they're asking this sum for a citizenship? no wonder they denied it.
I don't mind hearing from small countries that are trying to adapt bitcoin as a payment method, but this is just nonsense.

Lmao…you killed it all lol.

I was even thinking the same thing; who is even interested to buy a citizenship for such a country at such rate of $200,000, What the hell ?

I have never heard of the country before, this is even my first time of knowing about it.

NavI_027

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Good news that they're country now engaged and accept bitcoins, this would be the stepping stone for unlocking the other potentials of bitcoin.

But I wonder, why is it only used for exchanging citizenship? And what are the benefits a person get if he/she became a citizen of Vanuata? (maybe their country is lack to manpower)

erre

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I think the only reason for it could be that vanauata is some sort of fiscal paradise, so for a whale could be convenient to "buy" a citizenship to cash out hos btc.

Still, it dosen't seems a big deal

seizetehday5

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Wow hilarious news coming out of Vanuata. They recently denied those reports but I wonder if they did so only to hush down the fact that they are accepting citizens for 200k. One thing I fail to understand is why somebody

would actually do this...is there something to gain by doing this? I gotta look into this further because unless your rich and want it I cant see a valid reason to give an island country 200k for citizenship.

darkangel11

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Don't let others control your BTC -> self custody

Quote from: warrior333 on October 21, 2017, 07:44:06 AM

Lol. 200000 dollars to obtain citizenship of the island nation. I don't know what idiot will pay this amount. I think this advertising campaign in order to let people know about the existence of Vanuatu. Easier this amount to invest in business in America and obtain the right of permanent residence in this country. But the fact that Bitcoin lately does not leave the line of the news is good.

The easiest way would be to go to a country that doesn't tax BTC or to a country with low income tax. For instance there are countries that require you to pay 30% while some take 0%! Yes, that's really a thing there are countries with no income tax. Some have incredibly low income tax like Bulgaria with its 10%. I mean I wouldn't cry if I could legally earn millions and pay only 10% tax. Vanuatu with its 200k just doesn't look competitive anymore.

aardvark15

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Quote from: amaral1977 on October 11, 2017, 05:01:03 PM

Next goal. 44 BTC to enjoy an island life:) I´ll google vanuatu to see if it worth leaving there or just a nice place to go for a week vacation.
In portugal they are selling visas for 500.000 euros in real estate:) maybe they shift to BTC as well:)

That’s a lot of money and a lot of Bitcoin for citizenship. But it is good advertisement for Bitcoin and helps to legitimize it (even though we already know it’s legitimate).

This is also a good investment by the country of Vanuatu. They are potentially gaining an investment that will grow to great wealth in a few years. They could be gaining much more than $200,000 if people actually pay with Bitcoins. In fact 44 Bitcoins is already worth quite a bit more than that now.

tomahawk9

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Cats on Mars

I don't meant to sound direspectful but, who would pay 44 BTC for a citizenship in Vanuatu? it is such a small and remote island, so far away from everything, and they're asking this sum for a citizenship? no wonder they denied it.
I don't mind hearing from small countries that are trying to adapt bitcoin as a payment method, but this is just nonsense.

Virtual miner

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Quote from: merchantofzeny on October 11, 2017, 02:49:29 PM

Quote from: krishnapramod on October 09, 2017, 09:27:33 AM

The Pacific island nation of Vanuatu has become the world’s first county to accept the virtual currency bitcoin for its citizenship program.

The Vanuatu Information Centre (VIC) announced that its Development Support Program (DSP) will allow foreigners to qualify for Vanuatuan citizenship through a one-time payment of $200,000 or currently 44 Bitcoins.

Quote

Vanuatu is a member of the Commonwealth of Nations and citizenship allows visa-free travel to 113 countries, including EU states, Russia and the United Kingdom.

Vanuatu also advertises its low taxes for citizenship buyers, offering a second passport in a country that levies no capital gains or income taxes. Potential citizens don't need to live in Vanuatu, or even visit the country once.

“Many early investors in bitcoin would like to realize some of their earnings without incurring large capital gains taxes. Ideally, then, they would convert their cryptocurrency into tangible assets in a low-tax jurisdiction… As Vanuatu will now be the only country to offer citizenship for bitcoins, I think the program will see a surge in interest more or less immediately.”

http://www.newsweek.com/bitcoin-now-buys-you-citizenship-pacific-nation-vanuatu-680443

I think its quite weird because these countries just dont have any sorts of security from any authority. What is the advantage of taking citizenship in such a country? Its good that this is increasing the use of bitcoin but these nations can be easily annexed tomorrow by any big country.
I've heard that there are many island-nations selling citizenship for money. Glad that one is already accepting bitcoins. I wonder how they plan to use the bitcoins though.

Any benefits to becoming a citizen of this country? It's not really a big country to begin with. Tax loopholes?

warrior333

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Lol. 200000 dollars to obtain citizenship of the island nation. I don't know what idiot will pay this amount. I think this advertising campaign in order to let people know about the existence of Vanuatu. Easier this amount to invest in business in America and obtain the right of permanent residence in this country. But the fact that Bitcoin lately does not leave the line of the news is good.

Gozie51

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Quote from: squatz1 on October 18, 2017, 07:02:39 PM

This isn't even news, Vanuatu? I don't even think most people in that country can put them on a map, let alone people from first world / developed nations that are fully educated. This isn't news, this is propaganda by the bTC community to make them feel better, and while I am also part of this community and a user of bitcoin i don't think this is something which should really be spoken about as we end up looking bad.

This is just a small island that is trying to draw attention to themselves and thereby making there community popularly because they understand that people will start looking for a way to visit the place being that tourism is a big business.

The motive for me is not encouraging. This is just a media hype.

pixie85

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Even if it has been denied by the authorities a price of 200k USD for a citizenship is very high. I wouldn't pay that much unless I were running away from something in my own country. It's simply not worth it. You can get that basically for free in Germany, where you don't have to pay taxes on Bitcoin at all and for $200k you can buy an apartment in Berlin and have some fun while you're waiting for your papers to be done.

Altas

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Holding citizenship of a new country is simply expensive. That too in small countries it's very big, because they consider it an investment platform to raise the economy of the country. Only very few grown countries provide way for dual citizenship and such a move of bitcoin acceptance easily makes it popular.

darkangel11

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Don't let others control your BTC -> self custody

That's interesting, I might even be interested in buying a citizenship there.
I mean it offers a lot of advantages to a bored guy like me. Warm climate makes it a great place to go on holidays, you can live on a boat and sail around the island the whole time. And best of all: citizenship allows visa-free travel to 113 countries, including EU states, Russia and the United Kingdom. Many countries don't have it that easy.

malikusama

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Check the latest news about this, Vanuatu denies to accept bitcoins for its $200,000 citizenship program.
http://uk.businessinsider.com/vanuatu-accepts-bitcoin-for-citizenship-payment-2017-10
First they have made a very wise decision but soon after some days they take it back. The reason stated by acting General Secretary of Vanuatu is not appealing, i don't know what would be the real reason behind this denial.

Topic: Vanuatu, world’s first county to accept bitcoin for its citizenship program (Read 662 times)