World’s Best Countries to Relocate And Obtain a Second Passport

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What is the easiest way to get a second passport? If you don’t have the right to citizenship from another country through naturalisation, descent, or marriage, citizenship by investment is the easiest way to get a second passport.

The World is a global village. Gone is the time when people used to be born in one place and would spend their whole lives living there. Now, people are taking the opportunity to relocate to a better place when they get a chance. They are taking the chance to obtain a second passport, which would let them enjoy the best of two countries.

This trend of obtaining a second passport and relocating to a different country is growing with every passing day. If you are also planning to relocate to a place that comes with a cheaper cost of living, gender-neutral environment, and better health standards, here are the best countries you can consider:

1. Dominica

Even though North America is increasingly getting difficult for many people to live in due to the increased cost of living, Dominica is undoubtedly different. This country is one of the most sought-after countries for relocation. Many factors play a part in making it a perfect second passport.

For instance, it offers a tax-friendly environment to the citizens. In addition, the commodities prices are not exorbitant, and living standards are comparatively better than in other North American countries.

To relocate to Dominica and obtain a second passport you can apply for citizenship by investment service provided by NTL Trust. You would need to opt for the process of the Economic Diversification Fund. With a total investment of merely $189,300USD, you would be able to receive your second passport.

Opt for the real estate investment program if you can spend a bit more. In this case, you would get the residency sooner than ever within the cost of merely the price of $249,300USD. The whole system works diligently to grant the living permission only to those who are the most deserving of all!

2. Montenegro

Unlike many states and countries that require you to relinquish your previous passport if you aim to relocate to them, Montenegro doesn’t have such demands. Instead, you can comfortably keep two passports, and no one would bat an eye!

Once you achieve this goal of obtaining a new passport, you will be allowed to visit as many as 170 countries without a visa!

There are numerous investment programs for getting a residency in Montenegro. The simplest one is the Government Fund Donation, where you just need to give an amount of $100000 to the authorities. Apart from this, there is real estate investment, which requires you to pay an amount starting from only € 450 000 to be eligible for the residency.

3. St. Kitts and Nevis

Don’t have the patience to wait for years till you get your second passport and want to relocate ASAP? Then, your best option is St. Kitts and Nevis. This country offers the fastest and easiest relocation roadmap, following which you can get your residency within merely two months of your initial application.

You can either donate around $150000 to the Sustainable growth fund of the country or purchase some property amounting to $200000 and hold it for seven years to get the residency. It is an upper-middle-class economy country, and if you are looking for better employment opportunities and living standards, you should opt for it.

4. Turkey

If you love history and want to move to a country that is rich in it, Turkey is a great option! Located in the middle of the boundary between Asia and Europe, it offers a straightforward permanent residency methodology for those willing to get a passport.

This program doesn’t come with the need for residency. Without spending a specified period in the country, you can quickly get the permit to live here permanently. The two most beneficial sectors of the country are banking and technology.

The Turkish economy has been thriving for many years and offers excellent employment opportunities to the new residents. In addition, once you have the Turkish card issued in your name, you will be able to enjoy unlimited perks and benefits.

5. Granada

Love breathtakingly beautiful views and want to spend the rest of your life cherishing them? Granada is where you can do so! It is undoubtedly one of the most beautiful places in Spain, with a very minimal population. It offers a wide range of choices for accommodation and lets you live in a luxury apartment and a rustic home.

Obtaining a second passport for Granada would require just four months. You can easily qualify for it by showcasing your proof of good character, net worth, absence of a criminal record, and bill of good health.

Once you serve this to the authorities, you would only need to invest in Granada, and soon get your passport!

Final Thoughts

Getting a second passport opens a number of opportunities for an individual. You can have the luxury of visa-free traveling, or your family can relocate due to your permanent residency.

The list for obtaining a second passport does not limit to the countries mentioned, there are a number of countries that offer you a second passport, all you need to do is to do some more research in this area, and you will surely find the country that fits for you.

Why Register a Company in Cyprus? We Explain Here

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A company registration number is a unique combination of numbers and, in some cases, letters. The company registration number is used to identify your company and verify the fact that it is a registered entity.

Business nowadays operates in an interconnected world, without any boundaries or limitations to protect brands and companies from the merciless competition.

In our era, due to technological breakthroughs, competition is thriving and multi-attacking companies and brands from various channels of communication; therefore entrepreneurs find themselves in the difficult position of searching and finding the most favourable path to follow, for the achievement of economies of scales.

Currently, many entrepreneurs are in the process of searching various ways on how they can maximise their productivity and enhance their profitability by minimising their operational costs. One of the main scenarios they examine, due to its endless possibilities, is the reincorporation or re domiciliation of their business activities in favourable markets. Even though this practice is very common, entrepreneurs should cautiously consider their options, since this path can be very costly, multifaceted and time consuming.

Consequently, when entrepreneurs decide to pursue this course of action not only do they have to prepare their business plan but they also have to include the nature of activities and purposes of their company and simultaneously proceed with the political, economical, social and technological environment analysis of the target market.

Additionally, they should examine important economical parameters of the targeted country such as the taxation regime scheme, processing time of company formation or domiciliation and the terms and conditions of the exchange regulations, as well as, the transaction flexier company registration number is a unique combination of numbers and, in some cases, letters. The company registration number is used to identify your company and verify the fact that it is an entity registered, assets, personal information protection and requirements for opening corporate bank accounts etc.

In summary, entrepreneurs should thoroughly assess the business law frame work under which their company will operate.

Even though various countries are renowned for their favourable tax regime scheme, Cyprus is considered to be one of the most reputable and strongest jurisdictions for many types of company formation, incorporation, trusts and investment offering one of the lowest corporate tax rates in Europe.

Cyprus is a country island situated in the Eastern Mediterranean area, at the heart of three continents; Europe, Africa and Asia thus rendering it a favourable choice.

It is a full member of the European Community and completely aligned with the EU regulations. Its currency is Euro and the official language is Greek while English is spoken by almost everyone and Russian by a significant percentage of the population.

In addition, Cyprus has one of the lowest crime rates in the world. It has an excellent transportation structure and infrastructure that support the entire spectrum of business activities which take place on the island. It has a trustworthy and advanced private banking and medical system. Cypriot people are well mannered and are famous for their hospitality.

The Legal System of Cyprus is based on Common Law. Its economy operates based upon an open, market driven principle, with favourable tax regimes for the incorporation of companies and investments. Moreover, Cyprus is characterised by a high per capita income and renowned as a European Union centre for foreign investments, offshore businesses and activities.

Also, it is important to note that the Government authorities of Cyprus are promoting heavily the incorporation and foreign investments, as well as, allowing the purchase/ownership of property under favourable conditions.

Consequently, Cyprus Government authorities engage in non – stop negotiations for forming double taxation treaties with non European countries, in order for the Cypriot active companies to enjoy an important competitive advantage. Currently, Cyprus is an affiliate to more than 50 double taxation treaties based on the OECD including the European Union, China, India, Kuwait, Russia, Singapore, Thailand, United States, Azerbaijan, Lebanon, United Arab Emirates, Georgia and other important hub countries.

Furthermore, other important advantages of Cyprus are the low corporation tax rate, the very short time frame for company registration, as well as, the low annual maintenance fees of corporations. Cyprus offers one of the lowest corporation tax rates in the EU, which is 12.5%. The time frame for the registration of a new company is very short, approximately 7-9 days.

Hence, Cyprus allows the use of nominee Directors, Secretary and Shareholders therefore there is no obligation of exposure of the Ultimate Beneficial Owner in the public Company Registrar Record. Anonymity rights are fully safeguarded and there is no need for the owner to be present during the process of the incorporation or opening of a corporate bank account. Bank accounts can open between 2 – 5 working days with full online electronic banking and digital pass as well as a debit card.

Cyprus is considered to be the most well-known EU country for offshore company formation and Trusts. The Cyprus International Trusts are exempted from income tax, capital gains tax, special contribution or any other taxes. Additionally, there is no estate duty or inheritance tax in Cyprus, there is flexibility for relocation, there is no exchange control regulation and trusts can operate internationally with no disposal tax of securities. Thus, there are no withholding taxes on dividend payments, interest or royalties to non residents.

In addition, the profits from the sale of shares in the stock exchange are tax free, whereas, the losses of a company can be carried forward opposed to future profits for an indefinite period. Besides those very important advantages, Cyprus is also offering the Group relief option, whereby the loss of one company can be covered by the profits of another since both of them are under the Cyprus residential tax scheme.

Moreover, Cyprus Permanent Residence and Citizenship Schemes are considered to be one of the strongest in the world since they provide several significant benefits to the investors, as well as, an advantageous flexibility towards the investors that are reside in non EU member states, which includes, their family members under18 years old as well.

To sum up, Cyprus tax law is characterised by its simplicity, straight forward approach and effectiveness. Subsequently, entrepreneurs should consider Cyprus as a favourable market for incorporation or re -domiciliation of their business activities, since their companies will enjoy instantly, among other important advantages, low corporate taxation rates and annual maintenance corporation costs.

In addition, entrepreneurs will have the option of forming an offshore company or a trust so as to protect their assets, companies’ strategies and personal information by enjoying a very beneficial taxation regime with no exchange control regulation that would limit international operation.

Justifiably, Cyprus is considered to be an EU Tax Heaven island country. Cyprus companies enjoy safety, stability and flexibility, as well as, overall low tax rates while having the opportunity to trade not only in the EU but in other countries by enjoying the advantages of over 50 double taxation treaties.

Cyprus is globally an ideal investment and incorporation gateway, offering to the investors a market right of entry to more than 500 million EU citizens, the Middle East and China.

Turkish Citizenship by Investment: Your Gateway to a Rich Heritage and Global Opportunities

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In an era of increasing globalisation and mobility, securing second citizenship has become an essential avenue for individuals seeking enhanced opportunities for travel, business expansion, and personal growth. One such avenue is the Turkish Citizenship by Investment program, which offers a unique blend of rich history, modern progress, and strategic advantages. This article delves into the key aspects of the program, its benefits, eligibility criteria, and the steps involved, ensuring you have a comprehensive understanding of this promising opportunity.

Understanding Turkish Citizenship by Investment

The Turkish Citizenship by Investment program was introduced as a means to attract foreign direct investment and encourage economic growth while providing eligible investors and their families with the chance to become Turkish citizens. This initiative grants citizenship to applicants who meet certain investment criteria, facilitating a seamless path to enjoying the benefits of Turkish nationality.

Benefits of Turkish Citizenship

Global Mobility: Acquiring Turkish citizenship provides you with visa-free or visa-on-arrival access to a vast number of countries, including Europe’s Schengen Zone, Japan, and South Korea, enhancing your travel options for both business and leisure.

Thriving Economy: Turkey’s dynamic and diverse economy is a hub for various industries, including finance, real estate, tourism, and technology. As a citizen, you gain access to this robust economy and its promising investment prospects.

Cultural Heritage: Turkey is a land steeped in history, boasting a rich cultural tapestry that spans centuries. As a citizen, you can immerse yourself in this heritage, exploring ancient ruins, stunning architecture, and vibrant traditions.

Education and Healthcare: Turkish citizens have access to quality education and healthcare systems. The country is home to several prestigious universities, and its healthcare facilities are renowned for their advancements and affordability.

Strategic Location: Situated at the crossroads of Europe and Asia, Turkey offers a strategic geographic location for international business and trade. This positioning can be leveraged for expanding your business horizons.

Eligibility Criteria

To qualify for Turkish citizenship through investment, applicants must meet certain financial and regulatory requirements. As of my last knowledge update in September 2021, here are the general criteria:

Investment Options: There are several investment routes available, including real estate investment, capital investment, or job creation. These investments must meet specified minimum thresholds.

Minimum Investment: The minimum investment amounts can vary depending on the chosen investment route. For instance, real estate investments require a minimum of $250,000, while a capital investment of $500,000 is an option.

No Criminal Record: Applicants must have a clean criminal record both in Turkey and in their home country.

Health Insurance: Proof of health insurance coverage in Turkey is usually required for the applicant and their family members.

Hold the Investment: Applicants are generally required to hold their investments for a specific period, typically three years.

Please note that these criteria might have evolved since my last update, so it’s crucial to verify the latest requirements from official sources.

Application Process

Select Investment Route: Choose the investment option that aligns with your financial goals and preferences.

Gather Documentation: Collect all necessary documents, including investment-related paperwork, personal identification, and any additional requirements.

Submit Application: Submit your application to the relevant Turkish authorities along with the required documents.

Background Checks: Undergo thorough background checks and due diligence processes.

Approval and Citizenship: If your application is approved, you will receive your Turkish citizenship, along with its associated rights and benefits.

Conclusion

The Turkish Citizenship by Investment program offers a gateway to a nation brimming with history, economic vitality, and strategic significance. By taking advantage of this program, you can not only secure a second citizenship but also unlock a world of opportunities for yourself and your family. Remember to stay updated with the latest regulations and requirements to ensure a smooth and successful application process. Embark on this journey to enrich your life with Turkish culture, business prospects, and global mobility.