by Martin Haffner, Staff Writer
Nauru has introduced a pioneering citizenship by investment program at the COP29 climate change summit in Baku, Azerbaijan. This Micronesian island nation, the world’s smallest independent republic with a population of approximately 11,000, unveiled the ‘Nauru Economic and Climate Resilience Citizenship Programme’ during Minister Asterio Appi’s address to delegates on Thursday.
According to the Nauru government, this innovative financing initiative provides responsible investors the chance to obtain additional citizenship while supporting climate adaptation and sustainable development efforts in the Pacific region. The international investment migration advisory firm Henley & Partners has been tasked with designing, implementing, and managing the program, leveraging its experience with over 20 countries in similar initiatives.
Appi emphasized that those who participate in Nauru’s citizenship program are not only securing their own futures but also investing in the planet’s future. The Pacific Islands News Association (PACNEWS) highlighted that the UN has consistently emphasized the importance of access to climate finance for Small Island Developing States (SIDS) in achieving their Sustainable Development Goals.
Isa Seow, the compliance director for the program, noted that this citizenship scheme reflects Nauru’s resilience and innovation, merging economic growth with environmental responsibility. The program promises a streamlined citizenship process, with approval times of just three to four months.
Investors can acquire Nauruan citizenship by contributing a minimum of US$105,000 to the National Treasury Fund. This investment offers numerous benefits, including visa-free travel to 89 destinations, unrestricted dual citizenship, and the option to extend citizenship to family members. President David Adeang stated that investment migration serves as a significant tool for addressing sustainability challenges and enhancing climate resilience, positioning Nauru’s program as a model for directing investments into initiatives that protect the nation’s future and support global environmental efforts.
