This article was written by Emma Marshall — Community Manager
We believe this article is accurate at the time of writing, but regulations evolve. We'd welcome you to contact us for a quick, up-to-date confirmation—we're always glad to help.
Vanuatu's citizenship by investment programme generated US$95.5 million in the first half of 2026 alone — on pace to surpass its all-time annual record — and it did so after losing visa-free access to Europe. The data deserves careful attention from anyone tracking where second passport demand is really going.
What this article covers:
- Vanuatu's H1 2026 CBI revenue figures and what they signal
- Why demand has persisted despite the Schengen suspension
- Implications for clients considering Caribbean CBI programmes ahead of EU phase-out
- How Marlow Bray frames this within a broader second passport strategy
Record revenues despite losing EU access
In the first six months of 2026, Vanuatu's citizenship by investment programmes contributed VT11.4 billion (approximately US$95.5 million), representing around 39% of all government revenue outside donor funds. This outpaced every other revenue line, including VAT. With the minimum contribution holding at US$130,000 for a single applicant and processing measured in weeks rather than months, the programme continues to attract a distinct profile of applicant: one prioritising speed and cost efficiency over passport strength.
The context is notable. Vanuatu lost visa-free Schengen access in December 2024 and has since faced additional restrictions from both the UK and Australia. Rather than contracting, demand appears to have redistributed, drawing in applicants from markets where a European passport is less of a priority, or where processing speed and accessible pricing outweigh the loss of EU travel.
What this means for clients weighing Caribbean programmes
For high-net-worth clients currently holding or considering Caribbean citizenship by investment passports, the Vanuatu data offers a useful reference point. Several Caribbean programmes are navigating their own EU access questions ahead of the June 2028 deadline. The Vanuatu experience suggests programmes can retain commercial momentum even after losing Schengen rights, but the client profile and motivation shift materially. Those who value EU visa-free travel as a core benefit will need to look elsewhere; those seeking processing speed, a credible second citizenship, and a lower entry point may find Vanuatu a serious alternative alongside or instead of Caribbean options.
If you are reviewing your second citizenship strategy in light of these developments, our advisers can help you evaluate the right programme for your circumstances. Speak with the Marlow Bray team to arrange a private consultation.
