Scaling up of coconut oil production to achieve National Energy Road Map (NERM) targets of renewable energy supply are essential for Vanuatu to meet its ambitious 2030 Carbon Net Zero commitments. Coconut oil is a locally available, secure and clean renewable energy source – but most coconut oil currently goes to the export market. Vanuatu’s coconut oil industry must undergo a substantial ramp up in production to create a supply of coconut oil to substitute for diesel in electricity generation. This presents a substantial investment opportunity.

The Vanuatu government has utilized existing framework legislation to frame the CIIP. The CIIP is founded on section 13C of the Citizenship Act [CAP 1121]. The CIIP in its current form was formally instituted through the Citizenship (Capital Investment Immigration Plan) Regulation Order No. 8 of 2023, on January 30, 2023. Copies of the relevant legislation can be found on the VIMB website at www.vimb.vu/ciip

The CNO Future Fund is structured and regulated under the Ordinances of the Vanuatu Financial Services Commission (VFSC). The Fund was established as a Vanuatu Limited Company on 15 June 2023 and became a Public Company on 7 September 2023.

The CIIP creates the opportunity for investment-linked Vanuatu Citizenship, with investment allowed into specified sectors that are key to the economic development of Vanuatu. The CNO Future Fund, targets one of these named sectors – the “Productive Sector – Value-adding” and has been sanctioned for inclusion under Official Gazette No. 22, via the Citizenship (Capital Investment Immigration Plan) [AMENDMENT] Order No. 93 of 2023,dated June 27, 2023.

Vanuatu Investment Marketing Bureau (VIMB) has been appointed by the government as its Designated Agent for the CIIP – CNO Future Fund Program. A copy of VIMB’s official appointment can be found on VIMB’s website. VIMB is permitted to appoint and authorize sub-agents to represent and market the CIIP – CNO Future Fund. All sub-agents will hold a letter of authorization from VIMB and the Vanuatu Citizenship Commission.

The CIIP – CNO Future Fund is an investment linked citizenship program to complement the existing citizenship by donation program launched in 2017 called the Development Support Program (DSP). The CIIP and DSP application processes are identical, but the CIIP includes an investment component that offers financial returns and an encashment opportunity after five years. The CIIP benefits from greater transparency in the application of citizenship application fees by creating a direct investment into Vanuatu’s domestic economy

We strongly advise prospective applicants to check the credentials of the party offering the Citizenship Program. VIMB is the sole Government appointed agent for the CIIP – CNO Future Fund, backed by a strong international marketing and client advisor team. The Program has received approval from the Citizenship Commission and has been endorsed by the Minister of Finance.

The CNO Future Fund will make strategic investments into the abundant opportunities that exist and have been identified in Vanuatu’s Copra/Coconut Oil sector. The redeemable preferences shares are geared for modest capital appreciation which can be redeemed after being held for five years. The redemption process is detailed in the prospectus which is available on the VIMB website. The redemptions themselves will be funded by capital reserves of the company which will be sourced from either retained profits, partial or full sale of assets or SPVs owned by the fund. Prospective future equity partners who will take positions in the fund as redeemable preference share holders have already been identified.

The Fund is administered and operated to international standards by industry professionals. Fund structure, governance, objectives and operation are detailed in the CNO Future Fund Prospectus which can be downloaded at www.vimb.vu/ciip.