Vanuatu has become the world’s first country to accept Bitcoin for its citizenship program

The Vanuatu Information Centre (VIC) announced that its Development Support Program (DSP) will allow foreigners to qualify for Vanuatuan citizenship through a one-time payment of $200,000 – or its cryptocurrency equivalent.



At current market prices, this puts the price of citizenship for the so-called Paradise Islands at slightly more than 43 bitcoins.



The government of Vanuatu has confirmed that citizenship to the Pacific Island can now be purchased using bitcoin.



Geoffrey Bond, Chairman of the VIC said: “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.”



All bitcoin transactions for Vanuatuan citizenship will be run through an Australian cryptocurrency exchange, which complies with requirements imposed by the Australian financial regulations. Vanuatu is a member of the Commonwealth of Nations and citizenship allows visa-free travel to 113 countries, including EU states, Russia and the United Kingdom.