It is now possible for foreign investors who are investing in Vanuatu and who are interested in holding a five year Foreign Investment Approval Certificate (FIAC) to do so.
The five year FIAC will entitle the holders to apply to the Department of Immigration & Passport Services for a five-year residence permit as well to guarantee the security of their business investments in Vanuatu.
Foreign investors can now have the assurance of a five year VIPA FIAC approval coupled with a 5 year residency permit
This service will require the foreign investor to pay a new FIAC application fee of Vt120,000 if they are new investors plus Vt240,000 as renewal fees for the next four years to obtain this privilege.
The VIPA Board’s approval emanated from the intervention of a foreign investor who wanted long- term residence and VIPA FIACs for shareholders of his company.