The Pacific island nation of Vanuatu is now accepting Bitcoin as payment for its overseas citizenship program. Now your bitcoin can make you a legal citizen of Vanuatu.
The Vanuatu Information Center recently announced that applicants to their citizenship program, which costs $200,000 to become a citizen, and offers a second passport in their country which has no income or capital gains taxes. There is no requirement for potential citizens to visit or live in the country.
The practice is gaining in popularity around the world. Deemed the Investment Migration industry, governments offer visas and citizenship in return for investments in the local economy and property. It is a multi-billion dollar market that several countries are taking advantage of the opportunity.
For a small and isolated country like Vanuatu, the money could be a significant windfall as its total GDP is only around $700 million. Vanuatu citizenship provides visa-free travel to 113 countries including the UK, Russia, and EU.
For about 43 bitcoin, you could pay for citizenship in the tropical islands of Vanuatu.