All citizenship by investment applicants are subjected to mandatory background screening and due diligence checks by Vanuatu Financial Intelligence Unit (FIU).
As per the Citizenship Regulation Order No.33 of 2019, the Financial Intelligence Unit (FIU) is required to assist the Citizenship Screening Committee with final due diligence checks on potential applicants. Applicants must bear additional USD 7,500 fee per application for FIU checks. This was increased in 2024 from previous $5000.
These checks take anywhere around 1-2 months. Applications can be filed through authorized agents. The list of authorized agents is published and updated frequently by Vanuatu citizenship commission. Please note several providers collaborate and work with CIP authorized agents.
- DSP/VCP Agents authorized by unit conduct the frontline due diligence by understanding the background of the applicants and the source of funds, criminal background.
- Agents submit applications including valid passport, police or judicial clearance, Curriculum Vitae (VC) and any such requested documents are then submitted to the FIU where the due diligence process completed within 48 hours and a written finding to the Citizenship Screening Committee.
- FIU checks for for criminal conviction, FIU utilises several globally reputable screening databases in its due diligence process including checking INTERPOL database or past criminal conviction records , global blacklisting, sanctions, financial disqualification, corporate solvency, terrorism, individual bankruptcy and political-affluent persons.
- FIU also monitors of all successful applicants in the Program with rescreeing of checks and provides reports to Vanuatu citizenship commission (VCP) for adverse reports.
- VCP recommends the applicant to Primie Ministers office, for honorary citizenship
- Citizenship and passport issued to all successful applicants.
Reporting entities providing banking services are required to conduct Due Diligence on wire transfer and their cross border correspondent banking relationship.
About FIU
The Vanuatu Financial Intelligence Unit was enacted in September 2000 and initially governed by the Financial Transaction Reporting Act [CAP 268] until it was replaced by The new Anti-Money Laundering and Counter-Terrorism Financing (AML&CTF) Act No. 13 of 2014. It is a unit within the State Law Office located in the Prime Minister’s Complex (next to the Reserve Bank of Vanuatu compound) and managed by the Director of the FIU.
It is a specialised Unit created as Vanuatu’s national agency responsible for the receipt, analysis, assessment and dissemination of information and intelligences relating to suspected money laundering, terrorist financing and other serious criminal activities to Vanuatu law enforcement agencies as well as international law enforcement agencies.
The Unit is also tasked to regulate compliance and conduct compliance examinations of all financial institutions in Vanuatu as required by the AML&CTF.