During the Covid-19 pandemic, international travel may seem challenging for most people but not for some. Nowadays, it has become more important to travel without restrictions because on top of PCR tests, quarantine requirements, and arranging for a visa in advance, it saves you the hassle of stress and preparation. Traveling with a stronger passport gives you and your family visa-free and visa-on-arrival travel as well as the freedom of movement worldwide. Passports that offer access to the greatest number of destinations are the most powerful and preferred by foreign investors.
Citizenship by Investment (CBI) programs provide a very interesting opportunity and legal way to obtain a second passport from a different country. Individuals from all around the world apply for citizenship by investment programs as a means of gaining access to opportunities not offered by their own countries.
Some of the best nations provide a second passport that allows visa-free travel to over 140 countries, including the United Kingdom and the EU Schengen Area. One of the major reasons people opt for these CBI programs is a better quality of life and business prospects.
In the industry of residency and citizenship by investment programs, here are some of the most powerful passports for the year 2022:
Malta Passport is considered one of the world’s most powerful passports in the world. As a member of the European Union, Maltese people have visa-free travel to over 180 countries across the world, including the EU, the United Kingdom, the United States, and Canada.
Malta is also a popular destination for migrants, owing to its favorable level of socio-economic and universal healthcare. With no foreign income tax and no inheritance tax, Malta has one of the lowest tax rates in Europe. To qualify for Maltese citizenship, investors must pay a significant non-refundable contribution to the government amounting to EUR 600,000 or a qualifying investment of real estate valued starting from EUR 700,000 or rent a property starting at EUR 16,000 per year.
Malta has one of the lowest taxation rates in Europe with no inheritance tax, no foreign income tax, and withholding tax on interest earned.
Antigua & Barbuda:
Antigua and Barbuda second citizenship by investment is a life-changing choice. Antigua and Barbuda citizens have visa-free travel to 150+ countries across the world, including the United Kingdom, the EU Schengen Area, Hong Kong, and Switzerland. It is the only country in the Caribbean to grant visa-free access to South Africa.
Antigua and Barbuda Citizenship by Investment can be achieved by donating $100,000 to the National Development Fund or investing $200,000 in a government-approved real estate project in Antigua and Barbuda. For families, this is one of the most cost-effective solutions. Applicants can start with $1.5 million in setting up a business ($5.0 million if there are two or more investors) or $400,000 in a government-approved real estate project (which can be reduced to $200,000 if there are two or more connected investors).
The Antigua & Barbuda citizenship program is straightforward and does not require an interview. There is no need to travel to the country to complete the application. Children and dependents up to the age of 30 are eligible (subject to restrictions), as are dependent parents beyond the age of 55. It does not levy a tax on income earned anywhere in the world.
Dominican passport holders can travel visa-free to 139 countries across the world, including the United Kingdom, the EU Schengen Area, and Singapore. Holding a Dominican passport allows you to stay 6 out of 12 months in the United Kingdom and travel visa-free in all the Schengen countries. Dominica’s tax rules are also appealing, with no taxes on foreign income, capital gains, gifts, or inheritance.
Investors can get their Dominican Passport in as fast as four months, for a minimum investment of $100,000. For single applicants, Dominica is amongst the most cost-effective option. Having second citizenship from any of the above countries is like having a modern-day insurance policy. It allows you and your family to travel visa-free or migrate promptly. Passport Legacy can help you secure your secondary passport today. Our highly experienced client advisors can guide you towards the best strategic investment for global citizenships