No Income Tax, Paradise For Crypto Enthusiasts: All About Vanuatu As Lalit Modi's Citizenship Ignites Curiosity

Last Updated:March 08, 2025, 11:06 IST

Lalit Modi Acquires Vanuatu Citizenship: The country's population is less than half of Noida, when compared to their government data released in 2020 and India's data of 2011.

Lalit Modi News: Vanuatu has a popular citizenship by investment (CBI) program. (Credit: stock.adobe)

Vanuatu, an archipelagic nation that was unknown to most Indians, has suddenly become a top of discussion with citizens searching up the internet to know more about this picturesque country made up of roughly 80 islands. The curiosity was ignited by a former IPL chief, who has taken up Vanuatu’s citizenship.

Lalit Modi is wanted by Indian law enforcement agencies in connection with allegations that he was involved in embezzlement of crores of rupees during his stint as the top boss of the IPL.

The former IPL chief has filed an application with the Indian high commission in London to surrender his Indian passport, the Ministry of External Affairs (MEA) confirmed on Friday. He had left India in 2010 and is learnt to have been living in London.

Interesting Things To Know About Vanuatu

• Why did Lalit Modi choose Vanuatu? Besides trying to evade Indian law enforcement agencies, one of the possible reasons could be Vanuatu’s “golden passport" program. The country has a popular citizenship by investment (CBI) or “golden passport" program, which allows wealthy people to purchase its passport.

Zlata Erlach, the head of the Austrian office of Immigrant Invest, in a blog explained the lucrative citizenship benefits of Vanuatu:

a) She explains that Vanuatu does not impose any personal tax on its citizens. This means that any income you earn, whether locally or internationally, is entirely free from taxation by the Vanuatu government.

• Interestingly, Vanuatu’s population is less than half of Noida. According to its 2020 census, Vanuatu’s population five years ago was 300,019 — less than half the population of Noida (637,272) in 2011 (the last time India held its census exercise).

(details to follow)

News explainers No Income Tax, Paradise For Crypto Enthusiasts: All About Vanuatu As Lalit Modi's Citizenship Ignites Curiosity