With the publicised halting of Cyprus' citizenship by investment scheme are there any further countries which offer similar schemes and more importantly are they really worth it from a financial perspective? Other than a new passport and the potential for lower taxes, given the initial investment, would a nomad type lifestyle be a better way to spend such funds whilst seeking low/no taxes?
Cypriot Citizenship Alternatives
- Thread starter jayh8ch
- Start date
That all depends on your country of citizenship and their laws, also where your "home" country is because you will still require one.
Citizenship by investment will depend on whether you want Visa free access to the USA or not. If not then in my opinion here is the list of the 5 best in order.
St Kitts
Grenada
St Lucia
Vanuatu
Antigua
Citizenship by investment will depend on whether you want Visa free access to the USA or not. If not then in my opinion here is the list of the 5 best in order.
St Kitts
Grenada
St Lucia
Vanuatu
Antigua
Malta is still available and it's a far more useful passport than any of the other options on the market right now. It costs a little more but that's the price of an EU citizenship, which gives not only free travel but also freedom to live anywhere in the EU/EEA.
The usefulness depends on your situation.
If you're a nomad with proper financial arrangements, the main upside is how many countries you can enter without needing a visa.
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This is the probably the answer to your question.
The usefulness depends on your situation.
If you're a nomad with proper financial arrangements, the main upside is how many countries you can enter without needing a visa.
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This is the probably the answer to your question.
I would go with investing in a second passport in a tax free country every time over a nomad lifestyle. Especially when it offers you the ability to move at a moments notice and take up residency in a tax free or regulatory more liberal country.
That ability to acquire a paid second citizenship so easily may become a thing of the past with future laws so get it while you still can.
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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.
Hi Martin
Thank you for your reply. When you refer to the option of acquiring a paid second citizenship possibly becoming a thing of the past, do you have something to base that on or are you surmising?
Based on whats happening in EU with paid for passports such as Malta and the scandal around the sort of people acquiring them and the reasons why. Watch and learn as its common sense like I always say. Delay at your peril.
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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.
Depends on what you are looking for in a tax free country? If they are all tax free then how can I say which are top? 😕 I can say however that if you don't like island life then ignore Caribbean. If you don't like GCC life then ignore UAE etc and if you hate European life then ignore Monaco smi(&%.
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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.
What about Portugal Golden Visa? The residency requirement is extremely low, you can benefit from NHR, and after six years you're eligible for a passport (of course, a certain processing time should also be allowed for). That's longer than Malta for sure, but it's also far less cash down.
There are rumours that Cyprus will bring back the passport scheme in some amended form requiring more links to the country but without a full 7-year commitment.
There are rumours that Cyprus will bring back the passport scheme in some amended form requiring more links to the country but without a full 7-year commitment.