Citizens of the World Have More Than 1 Passport

Citizens of the World Have More Than 1 Passport

Citizens of the World Have More Than 1 Passport

Citizens of the world opt for more than 1 passport, as they look for security and peace of mind in a troubled world.

Wealthy buyers “are looking for security” said the Chairman of Henley & Partners, which provides citizenship advice and publishes rankings such as the Quality of Nationality Index. They want peace of mind in case of a revolution or other upheaval in their home countries, he said.

Many nations including the US allow legal residents the chance to apply for citizenship after meeting certain criteria, only 10 countries permit outsiders to acquire citizenship outright. Most require payment in the form of a DI (direct investment), typically in property or a local business.

8 of the 10 are classified by the IMF as offshore financial centers, and stability, not tax avoidance, is what motivates most buyers.

That plus bragging rights. “If you have a yacht and 2 airplanes, the next thing to get is a Maltese passport and a crest,” he said. “It is the latest status symbol. We have had clients who simply like to collect a few.”

The Big Q: How much does citizenship Cost?

The Big A: Each country requires a certain minimum investment, the details, as follows:

Country                    Citizenship cost       Capital gains tax     Corporate tax       Sold since
Austria                         $23,750,00                        28%                        25.0%                   1985
Cyprus                          $2,375,000                        20%                        12.5%                    2002
Malta                            $1,065,000                        12%                         35.0%                   2014
Turkey                          $1,000,000                       35%                         22.0%                   2017
Vanuatu                       $226,500                             0%                           0.0%                   2017
Grenada                       $208,250                           12%                          30.0%                  2013
St. Kitts & Nevis         $150,000                             0%                          35.0%                  1984
Saint Lucia                  $100,000                             0%                          30.0%                  2015
Dominica                     $100,000                             0%                          25.0%                  1993
Antigua & Barbuda    $100,000                             0%                            0.0%                  2013

 

Have a terrific weekend

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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