Vanuatu’s government has announced a suspension of new applications for its Citizenship For Investment Program. Commonly known as Vanuatu’s Golden Passport, the scheme offers, citizenship in return for US$150,0000 dollars.
It earned the government close to 130 million US dollars in revenue in 2022, but concerns with the scheme has since seen the European Union end its visa-free arrangement with Vanuatu…and the United States is reportedly threatening to issue travel bans.
The Vanuatu government’s freeze on new applicants comes following negative publicity after a passport was granted to fugitive Indian businessman Lalit Modi.
“New regulations will be drafted by the attorney general office and will be announced by the Prime Minister,” said Leah Lowonbu, ABC Ni-Vanuatu reporter.
“There is a task force in place to urgently look at this matter,” she added.
Climate finance will be on top of the agenda when world leaders gather in Baku, Azerbaijan this November for the 29th Conference of Parties (COP29) to discuss future climate action. At the climate conference,
The U.S. Department of the Treasury and IRS have released final rules on Inflation Reduction Act provisions that aim to expand the reach of the clean energy tax credits. The Act created the new elective
BCG’s report on Africa Climate Finance reveals that only 12% of the $2.4 trillion investment needed by 2030 has been met. Only 12% of the $2.4 trillion investment needed by 2030 for climate financing
The coalition, which also brings together Somalia, Benin, Sierra Leone and Antigua and Barbuda, said it would work to increase the number of countries taxing plane tickets, including business-class