Vanuatu is one of the very few countries in the world that does not have FATCA signed with United States. Vanuatu citizenship program may be attractive to US citizens for tax purposes.
Vanuatu is not, at this time, participating in automatic exchange under FATCA. That scheme applies to U.S citizens. Currently, Financial Institutions will generally report relevant income to the U.S Internal Revenue Service under voluntary arrangements. Vanuatu may exchange under require alternative exchange arrangements in the future.
FATCA is used to locate U.S. citizens (residing in the U.S. or not) and “U.S. persons for tax purposes” and to collect and store information including total asset value and Social Security number. The law is used to detect assets, rather than income and enforce collections.