 "Lalit Modi to give up Indian citizenship for Vanuatu: Why this island nation's golden passport scheme is popular")
Lalit Modi, former Indian Premier League (IPL) chairman, wants to surrender his Indian passport. Confirming the development on Friday (March 7), the Ministry of External Affairs (MEA) said he has acquired the citizenship of Vanuatu, a string of islands in the Pacific Ocean.
External Affairs Ministry spokesperson Randhir Jaiswal said, “Lalit Modi has made an application for surrendering his passport in the High Commission of India, London. The same will be examined in light of extant rules and procedures.”
“We are also given to understand that he has acquired citizenship of Vanuatu. We continue to pursue the case against him as required under law,” he added.
#𝐌𝐄𝐀𝐁𝐫𝐢𝐞𝐟𝐢𝐧𝐠 ||#WATCH | It is learned that Lalit Modi has applied to surrender his passport at the High Commission of India in London. The same will be examined in light of extant rules and procedures. We also understand that he has acquired citizenship of Vanuatu.… pic.twitter.com/tAYhY3xJKA
— All India Radio News (@airnewsalerts) March 7, 2025
Modi , who is declared an economic offender by India’s investigating agencies, is believed to be living in London since leaving his home country in 2010. He is wanted for tax evasion and embezzlement charges in India.
Here’s all we know about Vanuatu and its citizenship programme for wealthy foreigners.
All about Vanuatu
Vanuatu is an island nation in the South Pacific Ocean that achieved freedom from France and Britain in 1980.
The archipelago comprising four main and 80 smaller islands lies between Australia and Fiji. While most of the islands are inhabited by a population of 330,000, some have active volcanoes.
Most of the island nation is covered with tropical rainforests. Located on the Pacific ring of fire, Vanuatu is prone to earthquakes.
As per an Associated Press (AP) report, its lush forests and pristine seas make it a popular tourist destination for those from Australia and New Zealand. In fact, tourism contributes to 40 per cent of Vanuatu’s economy.
Most of the population resides in rural areas and practices subsistence agriculture.
Vanuatu has witnessed political instability since the 1990s. “This is one of the most turbulent political systems in this part of the world,” Riley Duke, a Pacific analyst at the Lowy Institute, an Australian think tank, told AP.
Vanuatu’s golden passport
Vanuatu has one of the most popular citizenship by investment or “golden passport” programmes.
A golden passport gives citizenship of a country to a foreigner through a significant investment or payment to the host government. Countries sell citizenship to attract foreign investment and spur economic growth.
Caribbean islands including Antigua and Barbuda, Grenada and St. Kitts and Nevis offer competitive citizenship by setting their fees just above $200,000 (Rs 1.7 crore).
Foreigners can buy Vanuatu’s citizenship by paying just $155,000 (Rs 1.3 crore), making it one of the cheapest citizenship by investment programmes.
As per the investment migration firm Global Residence Index, “Vanuatu’s citizenship by investment programme is the fastest and most simple citizenship programme available… Very few documents are required, and all documentation can be provided digitally.” This means that the applicant does not even have to visit the country to become a citizen.
Vanuatu takes just 30 to 60 days to process the citizenship application.
The country’s citizenship by investment programme is appealing as the Vanuatu passport allows visa-free entry to 113 countries. The Henley Passport Index ranks the Vanuatu passport as the 51st strongest out of 199 countries globally. It is ahead of Saudi Arabia (57), China (59), Indonesia (64) and India (80).
Vanuatu also entices foreigners due to its zero-income tax jurisdiction. There is no personal income tax, capital gains tax, inheritance tax, and wealth tax in the country. But it charges indirect taxes such as VAT, and tax on property transactions, rates of which are usually lower than other countries in the South Pacific.
However, there have been recent allegations that Vanuatu’s golden passport scheme and tax laws are being misused by global criminal syndicates.
“Experts have warned the scheme is ripe for exploitation, creating a back door for access to the EU and UK… Vanuatu’s taxation laws make the country an attractive site for money laundering,” as per The Guardian report.
How golden passport varies from golden visa
While golden passports are rare, golden visas are more common.
Golden visas provide temporary or permanent residency to individuals in a country in exchange for an economic contribution. Known as “residence by investment,” the investment could include purchasing a house in the host country, establishing a company or making a donation.
Golden passports offer greater benefits than golden visas, which typically do not allow the applicant to work in the country but only live and study.
Some countries may also provide citizenship to golden visa holders after certain years.
With inputs from agencies
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