Nigeria is booming market for second passports, as wealth is fast growing in the oil rich country. More and more nigerians are seeking alternative citizenships for education, travel freedom and promote business and trade outside Africa. US and Canada has been historically most popular immigration destinations for many wealthy destinations. These schemes have been plagued by slow processing and long…
Today Grenada has the No.1 citizenship by investment program in the World, but do you know Grenada also operated an economic citizenship scheme, going back in history some twenty years ago? Grenada operated a passport for sale or Economic citizenship scheme between 1997-2001. Economic Citizenship Program Grenada passed the Citizenship (Amendment) Act, 1997 was passed to make economic citizenship scheme…
Egypt has launched a brand new citizenship by investment program in an attempt to bring in significant foreign investments in the country. You can get Egyptian passport in the Land of Pharaohs and Pyramids in just 3 months, after Egypt announced recent amendments to the 1975 citizenship legislation approved by parliament. The recent amendments simplified the citizenship scheme reducing the time…
Crypto-currency investors can enjoy wide range of benefits from second passport acquired through citizenship by investment (CBI) schemes. Second passports from tax free countries only costs about 15 bitcoins for crypto investors, assuming the BTC price is $7000. This is quite cheap when looking at the passport benefits. Remember CBI schemes offer direct passports while RBI/GV schemes offer residence permits.…
Greece invites wealthy investors to shift their tax residence to Greece to benefits from Tax reliefs. The Non-Domiciled scheme was introduced making Greece one of a kind tax haven for millionaires who want to immigrate to Europe. This scheme is similar to non-domiciled tax regime introduced by Italy and Portugal. HNW investors, will need to and pay ONLY a flat…
The Citizenship by Investment (CBI) industry has quickly grown into $5 billion dollar industry, almost doubling in just the last three years. We at Best Citizenships (BC) designed a new ranking model for Citizenship by investment (CBI) programs based on Points Based Scoring (PBS) system to mathematically rank the best CBI program for clients. Our model is one of a…
Foreign Account Tax Compliance Act (FATCA) was enacted in 2010 by Congress and the law was signed by Obama. FATCA was passed to identify assets of persons with US connections and prevent tax evasion. The law identifies U.S. citizens, U.S. corporations and U.S. tax residents. FATCA requires foreign financial institutions (FFIs) and banks to report to the IRS information about financial…
Many clients have approached asking us which Citizenship by Investment (CBI) countries have personal income taxes (PIT). This is also a very common question. Today we will shed some light on the personal income taxes with citizenship by investment schemes. In short, we will try to address which CBI countries have zero personal income taxes, when you buy a passport.…
The Dominican Republic does not have a direct citizenship by investment program, but citizenship can be quickly acquired within one year by becoming a resident investor making $200,000 investment in real estate, bank deposit or in businesses. Dominican republic is one of the few countries in the world which can offer fastest citizenship through ordinary naturalization. The Dominican Republic (should…
Taxes are necessary evil and cannot be avoided. In general most of the world countries that tax income generally use one of two systems: territorial or residence-based In the territorial system, only local income – income from a source inside the country – is taxed. In the residence-based system, residents of the country are taxed on their worldwide (local and…
