Passport To A Luxury Life: Why Citizenship By Investment Is Trending
As a business entrepreneur do you feel frustrated with your limited opportunities overseas? Not only are you dealing with volatile markets, multiple time zones and fluctuating exchange rates, but also the obstacle of actually doing business in different locations. Many entrepreneurs have to contend with this, and it is mainly due to their passport.
You want to be able to travel and do business in foreign markets with little or no inconvenience. Unfortunately, it isn’t that easy. You possess a passport that limits your travel and thus restricts business opportunities and tax efficiency. And what’s more, if you want to travel to one of these destinations you have to deal with the likelihood of obtaining a visa. When you look at the most desirable passports in the world, it doesn’t take too long to understand that some passports fare better than others.
So the good news for international entrepreneurs is that you are eligible for dual citizenship in return for investment in a second country. Naturally, with such a significant decision on the horizon it is crucial you are given the right advice and guidance. Here are key benefits to obtaining a second passport and leading a luxury lifestyle.
Ease of Travel
Perhaps the primary reason business entrepreneurs opt for a second passport is the ease of international travel, affording freedom of movement. Where you obtain the second passport will determine the number of countries you have the freedom to travel to. For instance, citizens of Portugal can travel up to 175 countries visa-free or visa on arrival.
Once again depending on your chosen country, you will be eligible for tax breaks. Some countries in the Caribbean offer lower tax rates compared to the more developed countries. However, getting professional expertise on this subject is vital so you can avoid any problems during the process.
Investment & Banking
With generous exchange and interest rates, not all international entrepreneurs may be able to take advantage of banking and investment. Many countries do not allow certain nations to engage in foreign investment. So keep in mind that obtaining a second citizenship is not always about visa free travel but financial access as well.
One of the biggest benefits of a second passport is that it is far reaching, offering access to potential customers. A second passport means that you not only engage in business transactions with people in your own country, but also in another country. It becomes your gateway to accessing a wider world.
Specializing in business and corporate immigration, economic citizenship and residency by investment we understand the challenges faced by investors and deliver practical solutions. Each strategy is individually designed to cater to every client’s specific requirements. We ensure each application is thoroughly researched and carefully prepared. Bayat Legal Services also offer expertise and guidance on tax planning, offshore trusts and facilitating relocation to a new country.