You can now purchase citizenship using Bitcoin!steemCreated with Sketch.

in cryptocurrency •  10 months ago

Looking to gain full citizenship in another country?

Well you can, and now you can pay for it via Bitcoins!

Wouldn't it be ideal to have several different passports so that you could escape to another country any time your local government does something you don't agree with?

Well, now you can add another country to your list, and you can purchase your way in using a cryptocurrency.

What am I talking about you may be wondering?

A tiny island in the South Pacific announced that it will be granting full citizenship in exchange for $200,000. What makes this situation unique is the low price for citizenship and the option to pay for it in Bitcoins.

The country announced they would accept USD or Bitcoin.

At the current price of Bitcoin ($4802), it would cost you roughly 41.6 Bitcoins in order to purchase full citizenship.

What country is doing this?

Vanuatu.

Haven't heard of it? Me neither.

It's a very small island neighboring Fiji in the South Pacific.

Vanuatu is a member of the Commonwealth, which is an intergovernmental organization of 52 member states, most of which are former British Colonies.

The purchase of citizenship would also allow for visa-free travel to 113 other nearby/neighboring countries.

Vanuatu is trying to put itself on the map in the minds of technology enthusiasts.

Vanuatu is very tax friendly.

In fact, that may be an understatement.

Vanuatu has very low tax rates in general and does not require capital gain or income taxes to be paid.

Sounds like my kind of place!

A big reasoning for their tax friendly nature has to do with their stated goals of becoming a leader in technology adoption.

Specifically they stated this:

"The Government of Vanuatu has explicitly expressed a desire to be at the forefront of adopting new technologies, officially encouraging the VIC to receive payments in Bitcoin."

This would mark the first time a country accepted Bitcoin or any other cryptocurrency as payment in exchange for full citizenship.

Many other countries offer citizenship for a price, though usually that price must be paid in local currency and usually that price is higher than what is being discussed here.

Citizenship in St. Kitts and Nevis costs about $250,000 while citizenship in the EU will cost you about 650,000 euros ($766,967).

The cheapest option to gain citizenship is in Dominica, where a passport will cost you $100,000.

With these measures, Vanuatu is quickly putting itself in the hearts and minds of technology and cryptocurrency enthusiasts around the world!

Looking forward to hearing about more countries taking similar actions.

Stay informed my friends.

Sources:

http://fortune.com/2017/10/10/vanuatu-accepts-bitcoin-for-citizenship/

Image Sources:

http://www.businessinsider.com/vanuatu-accepts-bitcoin-for-citizenship-payment-2017-10

https://www.bloomberg.com/news/articles/2015-06-03/buying-your-st-kitts-citizenship-may-get-more-expensive-soon

Follow me: @jrcornel

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You're not the only one who has a thing for little to no taxes. :D

Hi ,
Thanks for the great content

great to know thanks sharing, happy to read great news about cryptos

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Yea, hopefully the first of many! :)

It is good that a Government is accepting Bitcoin. Although the offer is good but i'd never leave my country, India for any other country. India in itself is a Continent and I would love to spend my days traveling around.

Really cool but why would you spend 200 k if you don't have problema with the law instead of investing it in BTC yourself?
PS. I can buy visas cheaper than this.

In Canada the minimum is 800000 Dollars but to get permanent residency.

nice article

:)

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I also googled for this. Now many will settle in the southern hemisphere.

Great Step to this small country ;)

That is a great move from Vanuatu, it has some powerful neighbors in Australia, New Zealand and Indonesia. Bitnation, Liberland, Estonia's e-citizenship etc. along the line is great progress for blockchain industry. May be in future, we will have steemit island (somebody actually proposed it), where xxx amount of steem will grant citizenship :)

No capital gains tax!!! Sign me up!!

@jrcornel - What could be more official recognition for bitcoin as a global currency than this ?? This little island country has surely taken a very progressive step. A small step like this may become a giant leap for mankind in cryptospace very soon
Great news. Thanks for sharing. Upvoted full.

Regards,

@vm2904

If everyone had 20 different nationalities would it actually mean anything...
Just think about it...

200k$ for now is worth around 80 BTC. But if BTC shoots up to 20k next year then will they require the same amount (200k$?) xD. Either way, heads up to this country!

Looks like a startup country that has started an ICO :)

That is some big news , now I will see others offering the same thing . The price is pretty high but the ones in need would do anything as I see it

BTC is our third party support system in this corrupt world!

@jrcornel, very informative breaking news you shared. very amazing country accepted Bitcoin or any other cryptocurrency as payment in exchange for citizenship. thanks.
UPVOTE

Good post. Thanks.

Small states are the best!

They are usually unable to be self-sufficient and as such they are usually forced to become:

  • attractive to foreign investors
  • competitive markets

If used with privacy in mind, Bitcoin can be used anonymously. Does this mean the citizenship can be acquired anonymously and kept private?

In that it is known only by the new citizen and a citizenship blockchain.

almost no charges is my kinda thing.

Maybe you could reinvest a aprt of your saved taxes into green energy technologies to prevent tropical paradises like this from being submerged by global warming

I can't wait to witness the technological evolution cryptocurrency is certain to bring about.

We need more bitcoin!

Fantastic story - I know the island well. I was married in Fiji on Valentine's Day about twenty years ago. I am now divorced but I have a lot of fond memories of the Fijians - beautiful kind people that quite belie their fierce history.

Wow that is so cool. That would be awesome it looks like paradise. What a great way to use my bitcoins :) I probably wouldn’t want to leave. Thanks for sharing.

Can everyone eligible for this , kindly reply fast ???

Finally!

Hillarious! But practical? Nah

wery nice post @marek33

Looks like I'm going to Vanuatu. Awesome post

Hmmm, so you have to buy bitcoin with cash, trust strangers, and give them your money? Why would they want your cash if bitcoin is so great? It's supposed to be valued so much higher than cash so why would you give up your bitcoin? Hey, if I get scammed with my Visa or bank at least they're covering me if I get ripped off.

Wow, that is interesting. I hadn't heard much about purchasing citizenship but being able to do so in bitcoin is pretty cool.

It would be great to live on such an island. Actually not expensive and even very interesting, thank you for the helpful information

Sort of reminds me of the WORLD cruise ship, except they require a minimum of, or did when I saw the video, $5,000,000.00 in your bank account.
Cruise around the world in style, seeing a new port whenever. I don't know if they are still operating as I have not seen anything recently on it, but if I wanted to go in style and had the financial means, I'd give it some thought. Personally, I doubt I'd ever want to live on a tiny island that is subject to weather such as hurricanes and worse, like tsunamis. It's a steep price to pay to live on an island where everything must be shipped in. I guess only the rich would be interested in this. If everything has to be shipped in, the cost of living goes up. One would need to be super wealthy to even make it a serious consideration. Also, one would need to really enjoy the tropical heat. I could not stand that sort of heat. Give me air conditioning or cooler climates any day. I tend to run on the warm side of life. Great article though, always good to learn about new places and interesting things.

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Cruise ship sounds good to me! Hopefully take cryptos in the near future.

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As I'm still learning to be technology literate, I'm hoping the learning curve isn't too big. I know a little about cryptocurrency and foresee it taking over as the world's leading currency, but I still enjoy cash in hand. Nothing like having a wallet full of dollars or whatnot to buy that special someone something they want. The feel of the currency in hand is like no other. I think that when they see how things are going they'll start taking it.
Cheers
Much love, light and respect
X

Very interesting news for big investors ....

I think citizenship in Liberland is free. @dollarvigilante

Highly interesting! Maybe Vanuatu believes in the future of bitcoin (price appreciation) given the "low" price point they've chosen for the citizenship program.

I wonder if they'll be accepting bitcoin for tax payments as well...

Another proof why bitcoin is not a Ponzi scheme or scam. People can keep saying all they want but if anyone can use bitcoin for almost anything what is the point to say its not equal or better than fiat currency?

When he mentions that an EU passport costs around 650000 he must be referring to Malta since it is making quite a hit with this. Next step is to introduce bitcoing / xmr payments which is already in the roadmap it seems. Not a bad idea, since the country wins both ways. if bitcoin really were to rise in value to over the 10k mark as is being tooted around the blogs then the 100 odd bitcoins gained this way would be worth quite a lot in a couple of years. it is touching 5k again whilst writing this post

beautiful

Good post , but I think they have property taxes ( need confirmation ) agree that there is no capital gain .

interesting man i want to know more

still too much

I dunno if I ever want to be a citizen of Vanuatu but I really want to invest more on Bitcoins right now

wooow its mean it become very easy to take citizenship.thanks for sharing good info..
@umajeed86

That is super interesting! SO you are telling me that basically It is prime for a retirement location. Or if you win the lottery!

Good post

What a Rmarkable post @jrcornel !

Cheers for the post @jrcornel this is great news for bitcoin and the progress of Pacific Islands into the future. I would hope that the same policy reaches my homeland of Samoa. Internet is now widespread and the country is developing with help from foreign investment. But then again...mcdonalds has been in Samoa for quite some time now and not much else has changed lol

I love this post! Kind of makes you want to laugh up your sleeve and have a smug face when it comes to the sheer control of governments.......fragile their grip is becoming. Bitcoin and any other crytopcurrency is the way to go. I might need a seperate briefcase for all my new passports in the future :-) Thanks for putting this up. Brilliant!

Off to Vanuatu to not pay a lot of taxes

how interesting! That's one way to get yourself known as a country. Awesome to see how Crypto is being used in so many ways.

Great opportunity for those who have 41 Bitcoins.

It's a slick move by their politicians, but there are better options for relocation. If you're just looking for a second passport to travel more freely though, it's not a bad idea.

People should be free to travel though as long as they are peaceful. We shouldn't need passports, and there shouldn't be imaginary lines or the tax farms they represent.

Russia needs to learn from Vanuatu!!

WOW! Great news to me. It is nice to know that some countries are favorably disposed to bitcoin. Hopefully, in due course, other countries will follow suit.

This post made my day. Thanks @jrcornel. I am following you to be in the loop for great posts from you in future. This post is worth resteeming too.

What a nice place to stay. Isn't it.

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just follow me, I must follow you!
upvote my post, must upvote your all post!

best regards
tamimiqbal

In a number of years down the road from now we'll be buying a lot more than citizenship using cryptocurrencies solely, no governmental regulations can trump a widely accepted initiative, especially when it's on a world.... Love Bitcoin, Love Crypto, Love Blockchain

I believe at one point Thailand considered or was offering 20 year citizenship for $60k+ a few hundred yearly fee. If only that could be bought with btc..

Things that make you go hmmmmm?
Definitely something to think about. Thanks for sharing this info.

It is a Crypto World.

My little bitcoin and the pretty soul.jpg

🎀 @theprettysoul 🎀

thanks for sharing. resteem

There's a growing number of things we can do with smd Coin.I'm really looking forward to it.

Not really keen to become a citizen right now, there is a 2 active volcanoes going off.

Wow I didnt know this, Vanuatu is an amazing place. Very tribal and beautiful lush nature. The people are friendly, and the food is yummy. Definetely a wonderful destination.

This is ideal for US citizens because China and Russia are trying to do business without any influence from the West. Meaning, citizens in the US may not be allowed to participate in some ICOs that are very profitable. Getting a second citizenship might help to get around the new order.

Let's rush to Vanatu! But, why so expensive?

So why don't you just make yourself legal? In Vanuatu...
31351531.jpg

Great article, it really makes me wish I invested in bitcoin way back so I could get myself citizenship there, I could always use another passport.

Interesting idea and what a bargain price LOL.

Very interesting news. I enjoyed reading it. Great post. Thanks!

My need a vote from you...
plese vote me brother..

Thanks for the information....

A positive news for crypto market. Also a brilliant strategy to leave a mark for the "close to unknown" archipelago. Where Russia is planning to block access to cryptocurrency exchange, Vanuatu has boosted the acceptance of cryptocurrency. Thank you for sharing this

Woow look wonderful.

有没有中文版的? 在中国,居然身份肯定是不能购买。

Great!!

Great article , but arent they evacuating everyone because of the volcano? Think they might be lowering the price ;)

and it is a beautiful island, Just need 41.6 bitcoin and I would move there tomorrow :)

Is this going to be the next tax haven?

Interesting information jrcornel, let's hope it's the start of a growing trend expanding governmental endorsement of cryptocurrencies.

Great post! When I'll be rich, thank to my cryptos, Vanuatu will be the first place I'll visit with my Yacht :D

Hello. Recently I have read and heard about Vanuatu Passport because I'm living and working here in Fiji very close to Vanuatu. I even know many from that country but never though I would read this announcement here and right now that I was thinking about even moving there. Nice news.

This is already one of my goals so is getting closer.

My kind of paradise combo :) Mix cryptos with tax friendly vibe, amazing scenery...quite awww Thanks for the info, jrcornel!

Thanks for sharing! Great info

Congratulations @jrcornel!
Your post was mentioned in the hit parade in the following categories:

  • Comments - Ranked 9 with 99 comments
  • Pending payout - Ranked 9 with $ 157,51

I am surprised they are not Paying people to become citizens! :)

Hi @jcornel, You always amaze me and many thousand others with your interesting, informative and value-packed posts. This point alone intrigued me to know more about this country:

The purchase of citizenship would also allow for visa-free travel to 113 other nearby/neighboring countries.

Also, this is another point that enticed me to dig deep in the aforementioned country:

"The Government of Vanuatu has explicitly expressed a desire to be at the forefront of adopting new technologies, officially encouraging the VIC to receive payments in Bitcoin."

I have added it to my new year resolution.

Keep posing man. You're awesome so stay the way you are.

Steem On!

That is crazy cool. That bitcoin is accomplishing such a major feat as this. I cant even imagine all the endless possibilities the world of crypto currency will unleash in the future. Can't wait.

SIGN ME UP!!! Whos with me?!

Hello @jrcornel , I am out here in Sunny AZ as well !

Great post keep the good work

I want in. I would definitely do it if I wasn't poor as hell.