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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 . 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

 

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