Topic: Vanuatu, world’s first county to accept bitcoin for its citizenship program (Read 681 times)

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.

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 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.

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 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.

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.

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:)

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?

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.

Does Vanuatu allow dual-citizenship? Coz the issue is that your other country might still want money, haha.

Number of Americans renouncing citizenship reaches record high in 2016

A record number of Americans abandoned their US citizenship last year, according to official figures.

Statistics published by the US Federal Register showed that 5,411 people gave up their nationality, an increase of 26 per cent on 2015.

For many  the main motivation is tax.

Americans are liable for US tax even if they live abroad. Although in most cases they are unlikely to face a bill because they can offset what they pay to the taxman in their country of residence.

However high earners can face a bill from the US Internal Revenue Service even after they have paid substantial taxes to the Government in their adopted country.

In addition they are expected to file a US tax return every year, irrespective of what they earn.

Americans living abroad are also taxed on any profit they make on selling their home when they live abroad, even if they have no intention of ever living in the United States.

New laws passed in 2010 made life even more difficult for American expatriates.

The Foreign Account Tax Compliance Act - or Fatca for short - requires banks to declare savings held by US citizens to the American tax authorities. This requirement, which applies to Americans living abroad, has led some banks to refuse to open accounts for US expats or threaten to close them down.

Those giving up their US nationality include “accidental Americans” who were deemed to be citizens because they were born in the United States, even if they lived their entire life elsewhere.

Boris Johnson, the Foreign Secretary who was born in New York, is among those to have renounced their US citizenship.

http://www.telegraph.co.uk/news/2017/02/11/number-americans-renouncing-citizenship-reaches-record-high/

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.


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

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.

Visa free travel to more than 100 nations is like a lottery. And the price tag is not that expensive as well. Imagine what will happen if the Bitcoin exchange rates rise to $100,000 per coin. The Vanuatu passport will be all yours for just 2 Bitcoins. And do you know the best thing about getting a Vanuatu citizenship? There is no income tax in Vanuatu!!!!

There are benefits. It is a member of the Commonwealth (not that it amounts to much). With a Vanuatu passport,you can travel visa free to 113 countries. Definitely beats having a developing country passport.

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?

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.


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

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.”