19 Mar 2014

Vanuatu opposition criticises Capital Investment Immigration Plan

10:42 pm on 19 March 2014

Vanuatu's opposition says that the government revenue scheme, the Capital Investment Immigration Plan, is failing.

Under the CIIP financial scheme, government is selling Vanuatu citizenship for an amount of 35 000 US dollars to foreigners who want to invest in Vanuatu.

Through this government plan, 400 foreign investors were expected to apply this year for the citizenship.

But an Opposition MP, Pentecost's Charlot Salwai, says that at this stage no single investor has applied for the scheme.

He says the CIIP has failed to bring revenue for the country as promised by the government.

Sources within the immigration department say there are technical issues that the government needs to resolve in order for the investors to apply.

It's understood the government is yet to deploy its Hong Kong-based representative to market the scheme and assist the people interested in applying for citizenship through the CIIP.