Bitcoin is the oldest, most expensive, and most commonly used cryptocurrency in the world. Since its appearance as the first cryptocurrency in 2009, it has opened the door for new payment methods, exchanges, and investments. The number of owners and users of Bitcoin and other cryptocurrencies was and still rapidly increasing, therefore, governments had to […]
Bitcoin is the oldest, most expensive, and most commonly used cryptocurrency in the world. Since its appearance as the first cryptocurrency in 2009, it has opened the door for new payment methods, exchanges, and investments. The number of owners and users of Bitcoin and other cryptocurrencies was and still rapidly increasing, therefore, governments had to adopt specific policies regarding this financial fact according to the economic factors within the country. Regulations are the main tools used by countries to declare their policies toward cryptocurrency. Many countries adopted crypto-friendly policies by legalizing Bitcoin and other cryptocurrencies, some don’t have laws regulating cryptocurrency yet, some have restrictions on using cryptocurrency, and some completely banned all the activities related to cryptocurrency considering it a threat to the financial system’s stability and security. Why Is the Legal Status of Bitcoin Important for users? The legality of Bitcoin is the most important thing people must take into consideration before starting in buying, using, or investing in it since no one would like to be involved in illegal financial activities or break the country’s laws. Furthermore, cryptocurrency is a landscape where money laundering and fraudulent activities are common because of the anonymity associated with it. The lack of regularity means that there is no government control or protection which doubles the risks of using cryptocurrency. However, legalizing Bitcoin and other cryptocurrencies might subject you to extra taxes since the profit generated from investing in them will be a legal source of income and will be imposed on different types of taxes like income tax and capital gains tax according to the tax regime in the country. Does Bitcoin Legality Matter for Citizenship by Investment Seekers? Citizenship by investment is an option becoming more popular over time for high-income individuals looking to obtain a second passport in a short time with fewer requirements. When choosing one of the available citizenship by investment programs, many aspects must be considered according to your needs. One of the things that highly matter for crypto owners or investors is the legal status of Bitcoin and other Cryptocurrencies in the country they seek to get its passport for many reasons such as passing the diligence checks which require proving the legality of the source of your money and if you earned it from cryptocurrency investment and cryptocurrency is illegal in this country your application will be rejected. Moreover, if you plan to move to the country after obtaining its citizenship you will not be able to use cryptocurrency as a safe payment method or migrate your crypto wealth to it. In order to attract more investors, many of the countries that provide citizenship by investment legalized cryptocurrency and some went beyond by accepting Bitcoin or any other cryptocurrency as a payment method for citizenship by investment like Antigua and Barbuda and Vanuatu. Countries Where Bitcoin Is Legal The number of countries where Bitcoin is legal is increasing, some countries took cryptocurrency adoption to another level by recognizing it as legal tender which means it is an official currency accepted in all payments within the country besides the original currency. Here are the lists of countries where Bitcoin is legal tender and top countries where Bitcoin is legal. Countries officially recognizing Bitcoin as legal tender: El Salvador Central African Republic St. Kitts and Nevis (will take effect from March 2023) Countries officially legalizing Bitcoin: Antigua and Barbuda. Australia Barbados Belgium Bulgaria Cayman Islands Chile Croatia Dominica Estonia Finland Germany Indonesia Italy Ireland Japan Lithuania Malta Mauritius Marshall Islands New Zealand Norway The Philippines Serbia South Korea Sweden Switzerland Ukraine The United Kingdom The United Arab Emirates The United States Uzbekistan Venezuela Despite there isn’t a universal framework providing guidance for countries on how to deal with Bitcoin and other cryptocurrencies and a large number of countries don’t regulate or ban them, the ownership and investment in cryptocurrency are maximizing worldwide and it will be inevitable for all countries to set a framework to deal with this economic fact. So, it is predictable that the number of countries where Bitcoin is legal will significantly grow within the next few years and a larger number of people will have safe access to Bitcoin operations within a legal frame.
A guide to the 7 best crypto-friendly countries in 2023
Nowadays, cryptocurrencies have changed the way payments are sent and received, providing lower transaction costs, near-instant payments, and providing a diversified investment portfolio for many users who currently exceed 300 million users worldwide. If you are one of the cryptocurrency users and wondering about the best crypto-friendly countries, then this article is for you. […]
Nowadays, cryptocurrencies have changed the way payments are sent and received, providing lower transaction costs, near-instant payments, and providing a diversified investment portfolio for many users who currently exceed 300 million users worldwide. If you are one of the cryptocurrency users and wondering about the best crypto-friendly countries, then this article is for you. Although there are countries that still completely ban encryption and digital currency trading, the existence of cryptocurrencies is no longer limited to a few countries, as there is an increasing number of countries adopting them and allowing the crypto sector to flourish through legislation. Crypto-friendly countries 2023 As a passionate cryptocurrency investor or trader, you may want to know the most crypto-friendly countries in order to make strategic investment choices, so let’s take a look at a list of the best crypto-friendly countries based on the latest updates and available information. 1-El Salvador In no way can a list of crypto-friendly countries be devoid of El Salvador, the Central American country that was the first country in the world to adopt Bitcoin as a legal currency. This means that all businesses within the country accept payment in Bitcoin, and it is used just like US dollars to pay for goods and services. The Salvadoran government has given its full support to cryptocurrencies and is even planning to build the world’s first Bitcoin city, seeking to maintain its status as a cryptocurrency hub. El Salvador, which has 60% of its total population using crypto, hopes to attract crypto businesses and investors by stating that they do not have to pay any capital gains or income tax on cryptocurrencies. 2-Singapore The Monetary Authority of Singapore (MAS) fully supports cryptocurrencies and the Central Bank of Singapore has a positive view of them. The country also imposes no capital gains tax and no tax on goods and services paid in cryptocurrency. Only it has income tax on income from cryptocurrency-related activities. Therefore, the Southeast Asian country is considered one of the global crypto hubs, and a great place to start investing in cryptocurrencies. 3-Portugal Another crypto-friendly country is Portugal which has neither capital gains nor trading taxes. The southern European country only taxes income from cryptocurrency. Although there are no clear regulations on cryptocurrencies in Portugal, their trading is permitted and legal and investors and traders can buy, sell and trade freely. The Portuguese crypto environment also attracts many companies and investors from around the world, not only because of its flexible tax policies, but also thanks to the golden visa program where non-EU residents can obtain a residence permit if they make a qualifying investment. 4-Slovenia The Slovenian government is officially encouraging the transition to blockchain technology, has greatly relaxed crypto regulations, and does not impose a tax on cryptocurrency trading or value added tax (VAT) on mining. Slovenia only taxes income on cryptocurrency mining. Slovenia can be considered one of the most crypto-friendly European countries, as there are many sellers accepting cryptocurrency payments, and the number is growing rapidly. Therefore, the small country in the center of Europe is one of the most attractive destinations for cryptocurrency enthusiasts on the European continent. 5-Malta This small island country is one of the most popular in the cryptocurrency world thanks to its progressive legislation that gives a clear picture of the legal framework required to establish a legitimate cryptocurrency business. Although Malta imposes an income tax on cryptocurrencies, investors will not have to pay long-term capital gains tax on their cryptocurrency holdings, and the income tax can be reduced to 0% – 5% depending on the tax bracket and income situation. At the same time, Malta offers its citizenship by investment to those who invest at least 680,000 euros, so it is a great opportunity for many investors who are passionate about cryptocurrency. 6-Switzerland Switzerland is not only known for its highly private banking system, but it has also risen in the crypto world and has become one of the most cryptocurrency-friendly countries, classifying it as an asset and recognizing bitcoin as legal tender in some locations. Swiss banks also pioneered business accounts for crypto companies in 2018. Although Switzerland is not a tax-free country for cryptocurrency, tax rates are still competitive. And if cryptocurrency trading is private and not professional, there is no need to pay any capital gains tax. 7-Germany Although Germany does not recognize cryptocurrency as an asset, but rather considers it private money, it is still an excellent destination for long-term investors, as Germany does not impose a long-term tax on capital gains. While short-term investors have to pay income tax and capital gains tax, long-term investors, who hold a cryptocurrency for more than a year, will not pay capital gains tax on it. Also stacked cryptocurrencies become tax free after ten years. The bottom line is that many countries are moving towards regulating cryptocurrencies or at least making trading legal. Countries are also competing to provide crypto-friendly policies to attract eager investors from around the world, topped by the list of countries we mentioned earlier
The full list of zero income tax countries 2023
Have you ever heard of tax-free countries? If you are a business owner or entrepreneur, these countries open their doors to you, as many global investors are looking for countries that do not impose an income tax, seeking to reduce the tax burden. Therefore, some wealthy people obtain second citizenship in a tax-free country. On […]
Have you ever heard of tax-free countries? If you are a business owner or entrepreneur, these countries open their doors to you, as many global investors are looking for countries that do not impose an income tax, seeking to reduce the tax burden. Therefore, some wealthy people obtain second citizenship in a tax-free country. On the other hand, some countries compete to minimize taxes or not impose them at all as a way to attract investors and business owners. Income tax-free countries There are some countries that do not impose income tax, as they depend on other sources of financing other than taxes, such as oil, tourism, and others. These are the top 6 tax-free countries. 1-United Arab Emirates When mentioning tax-free countries, the UAE is the first to come to mind, as it is the most developed and attractive tax-free country. Therefore, many business owners and investors seek to start companies in the United Arab Emirates or expand business there, not only because of zero taxes, but thanks to the thriving economy, investment incentives and business opportunities. Not only is this what makes the UAE, and especially Dubai, one of the most attractive investment destinations, but it is also that it is very welcoming to foreigners as more than 80% of the population of Dubai are foreigners. Starting in 2023, the UAE imposes a corporate tax of 9%, but free zone companies doing business outside the UAE will not be charged any tax. 2-Bahamas The Bahamas is not only one of the most popular tourist destinations around the world, but it is also one of the best tax free countries as it does not impose any corporate tax or income tax and is characterized by strong infrastructure and good services. The Bahamas relies on tourism as a primary source of income and not taxes, so residents of The Bahamas pay absolutely no tax on their earnings, regardless of where they generate their income. The Bahamas also grants its residence permit easily and for a small fee, and it also offers to obtain permanent residence in exchange for investing in real estate of at least $ 250,000. 3-Saint Kitts and Nevis St. Kitts and Nevis is another option for investors and wealthy people who want to obtain a second citizenship for a tax-free country, as it grants its citizenship through investment. St Kitts and Nevis enjoys no tax on personal income, gifts, wealth or capital gains. Although St. Kitts and Nevis resident corporations are taxed on worldwide income, non-resident corporations are not subject to any tax on all income from sources outside the country. The investment environment in the country is also welcoming to foreigners through open investment policies and a business-friendly market. 4-Bahrain Another Middle Eastern country on the list of countries is tax free, because it does not depend on taxes for financing, but rather derives expenses from the banking and tourism sector, in addition to having one of the largest oil reserves in the world. Many global investors and international companies are heading to Bahrain, which does not impose taxes on personal income and can easily obtain residency through the official government portal. Even though the long-term value-added tax rate has increased to 10%, the rate is still competitive compared to other countries. Bahrain also enjoys a strategic location on the Arabian Gulf, next to other important countries in the region such as Saudi Arabia, Qatar, the UAE and Kuwait. 5-Monaco This charming European country is the destination for the elite of the wealthy and the richest business owners, who are looking for a luxurious and safe lifestyle on the beaches of the French Riviera and hours away from other European cities. Monaco’s government tends to attract wealthy people by imposing zero tax on residents and citizens, and allows them to easily obtain residency. 6-Qatar This small country that is located on the Persian Gulf and enjoys one of the highest per capita incomes in the world, and is considered one of the most developed countries in the Middle East, does not impose on its citizens and residents to pay a single penny as income tax. Oil and gas revenues allow the government to stay afloat without relying on taxes, as Qatar has one of the largest natural gas reserves in the world. Qatar also attracts foreigners not only thanks to its open economic policies and investment incentives, but also thanks to its advanced infrastructure, high-quality services, and a welcoming cosmopolitan atmosphere that makes it one of the best countries in the Middle East to reside for foreigners. The bottom line: There are some tax free countries that levy zero income taxes such as the United Arab Emirates, Saint Kitts and Nevis, Qatar and Monaco. Some of these countries grant residency on easy terms, such as the UAE, and some are limited to the elite of the wealthy only, such as Monaco. Those countries that do not impose income tax on citizens and residents depend mainly on their other income from tourism, gas, oil, banks, and so on
Which Passports Can You Buy?.. Most Affordable Ones You might have heard about buying passports but do you know how passports can be bought and which passports can you buy? Buying passports is not done by going to the government of a certain country and paying an amount of money to get its passports instantly. […]
Which Passports Can You Buy?.. Most Affordable Ones You might have heard about buying passports but do you know how passports can be bought and which passports can you buy? Buying passports is not done by going to the government of a certain country and paying an amount of money to get its passports instantly. Buying passports is a common expression to refer to getting a second passport through a citizenship by investment program in one of the countries that allow such programs. Getting a second passport through citizenship by investment is when you apply for such a program, go through an eligibility check, and if eligible you can get citizenship by investing the required amount of money in the country. Getting citizenship by investment is not offered in all countries, and not all people are eligible to obtain citizenship by investment as well. Each country of those providing citizenship by investment has its own program, eligibility criteria, and financial requirements and each country has different advantages that you can get when you obtain citizenship Why Should You Buy a Second Passport? Getting a second passport costs a fortune as the cheapest program might cost you $100000 but in return, it gives you many benefits including travel freedom through a passport with a higher mobility score than your original one, having a second home in case you live in an unstable country for political, economic, or natural reasons. A second passport might also give you access to better education, healthcare, and business opportunities. Which Passports Can You Buy at a Reasonable Price? If you are willing to get a second passport there are many factors to consider. We will show you which passport you can buy based on the most important factor, affordability. Dominica One of the most affordable passports you can obtain by investment is the passport of the Commonwealth of Dominica. Dominica as commonly known is a Caribbean country that offers many benefits such as dual citizenship and visa-free travel to 128 countries. Dominica grants passports through many forms of investment. Making a nonrefundable donation to the Economic Diversification Fund of Dominica : A minimum of $100000 for a single person. A minimum of $200000 for a family of four. Investing in real estate : A minimum of $200000. Vanuatu Vanuatu is a beautiful country located in the South Pacific where no other country but Vanuatu offers a citizenship by investment program. The program is officially called Vanuatu Citizenship Development Support Program. Vanuatu passport gives visa-free access to 127 countries and the country allows dual citizenship which makes it one of the passports that must be considered if you are still asking which passports can you buy. Vanuatu grants passports based on a non-refundable donation to the country . A minimum of $135000 for a single person. A minimum of $150000 for a couple. A minimum of $180000 for a family of four. St. Lucia St. Lucia is the latest Caribbean country to launch a citizenship by investment program. It offers affordable citizenship with many benefits including providing visa-free access to 131 countries, permitting dual citizenship, and offering many important investment schemes for granting citizenship by investment. St. Lucia grants passport through many forms of investment. Making a nonrefundable donation to St. Lucia National Economic Fund A minimum of $ 100,000. Investing in property, land, or hotel share. A minimum of $300,000. Antigua and Barbuda Antigua and Barbuda is another beautiful Caribbean country that offers various citizenship by investment schemes varying from low-cost to high-cost. The authorities of Antigua and Barbuda gives the applicants the right to choose the path they want to go through to obtain citizenship by investment Antigua and Barbuda grants passport through many forms of investment. Making a nonrefundable donation to the Antigua National Development Fund. A minimum of $100000. Investing in real estate From $200000 to $400,000 based on the obligatory period of holding the property. Establishing a business in the country (a high-cost scheme). A minimum of $1.5 million. Grenada Grenada is one of the Caribbean countries that offer an affordable citizenship by investment program. One of the most significant advantages that make Grenada passport a great choice compared with the other Caribbean passports is that it qualifies its holder to get an E-2 Investor visa in the United States of America. Grenada grants passport through many forms of investment. Making a nonrefundable donation to the National Transformation Fund : A minimum of $150,000 for a single person. A minimum of $200000 for a family of four. Investing in real estate. A minimum of $220,000 in addition to $25000- $50,000 Government fees for each person in the application. St. Kitts and Nevis St. Kitts and Nevis is another Caribbean country that has one of the top passports in the world and presents a citizenship by investment program at a low price. St. Kitts and Nevis grants passport through many forms of investment. Making a nonrefundable donation to the Sustainable Growth Fund. A Minimum of $150000 for a single person. A minimum of $195000 for a family of four. Investing in real estate. From $200000 to $400000 based on the obligatory period of holding the property. Montenegro Montenegro is a European country that offers a citizenship by investment program that might not be as cheap as the previous ones but it is still reasonable compared with other European citizenship by investment programs. Montenegro grants passport through varying investment schemes. Investing by establishing a business in an underdeveloped region. A minimum of about $250,000 in addition to a non-refundable donation of about $100,000 to the government development fund. Investing by establishing a business in a developed region. A minimum of $450,000
Obtaining second citizenship is the major means to move and settle in another country. There are many ways to obtain citizenship including marriage, naturalization, or investment but each has many requirements that might be hard to fulfill for many people. Citizenship by naturalization is mostly based on a long-term residency requirement and citizenship by investment […]
Obtaining second citizenship is the major means to move and settle in another country. There are many ways to obtain citizenship including marriage, naturalization, or investment but each has many requirements that might be hard to fulfill for many people. Citizenship by naturalization is mostly based on a long-term residency requirement and citizenship by investment is a good choice for only high-net-worth individuals. Many countries provide migration programs to attract skilled and qualified people as a solution to the low population growth that causes a shortage of workforce and threats to economic prosperity. The need of countries for foreign workers and the need of individuals from some parts of the world to get better life led to increasing the popularity of migration programs and increasing numbers of migrants in many countries in the world Why is Migration a Good Choice? Migration is a good choice for people looking for relocation who can’t afford the expenses required to get citizenship by investment or are not eligible for citizenship by naturalization. Many rich countries provide migration programs that give the chance for foreigners to live in a developed country where they can get employment opportunities, high standards of living, and access to good education and other social services without being restricted by investment or residency requirements What Are the Easiest Countries to Migrate to? People choose to look for migration programs since it has fewer requirements than other programs of citizenship or residency, so they mainly look for countries that don’t impose complicated procedures. We, here, will include the easiest countries to migrate to 1.Canada Canada is considered the easiest country to migrate to in addition to being one of the most preferred destinations for migrants, especially for people looking for an English-speaking country. The country continuously works on offering benefits to attract more migrants to fill the shortage of skilled workers resulting from the slow pace of population growth. In addition to having welcoming policies towards immigration and providing a safe passage for thousands of migrants, the Canadian people are very friendly with. foreigners, tolerate different cultures and beliefs, and highly value diversity and human rights. Canada ranks 1st globally in migrants acceptance according to Gallup’s Migrant Acceptance Index. Migrants to Canada enjoy a high quality of life and get access to world-class education, developed healthcare, and employment opportunities. Canada offers many immigration programs including Express Entry Program, Family Class Sponsorship, LMIA Work Visa, and The Provincial Nominee Programs (PNP) that allow foreigners to move to the country through various path 2.New Zealand New Zealand offers diverse job opportunities, a high salary average, and high standards of living. Education and healthcare are high-quality and mostly free which encourages migrants to settle with their families in the country. New Zealand has many programs and visas for foreign skilled workers and entrepreneurs who are expected to contribute to the economy. The process of establishing a business is very easy which makes it an ideal choice for migrant entrepreneurs. 3.Spain Spain is an attractive immigration destination for American migrants since Spanish is the spoken language of most American countries. English-speaking migrants have great chances in Spain as the North American Language and Cultural Assistant program offers opportunities for people who can teach English which allows them to live in the country. Foreign workers in the North American Language and Cultural Assistant program are allowed to get other jobs outside the program but they are required to transfer to a work visa in this case. Spain gained an increasing reputation as a favorable immigration destination because of its good standards of living, education, and healthcare. The costs of living are low compared with most Western European countries. Spain also has pleasant weather that fits migrants coming from different places in the world. Spain presents attractive programs for migrant entrepreneurs like the Golden Visa which grants permanent residency to foreign investors. In addition, there are citizenship programs for the nationalities of previous Spanish colonies. Recently, Spain launched Digital Nomad Visa which gives a one-year residency to work for a company in the country. It can be extended to 3 years and might be a step to getting permanent residency. This program was designed as a part of a governmental initiative aiming at stimulating social and economic activities in the less-populated areas which attract foreigners who are looking for a calm place and relaxed lifestyle. 4.Australia Australia is one of the most preferred and easiest countries to migrate to thanks to its efficient and regulated immigration program that provides a smooth process for foreigners to move to the country The country offers many advantages that attract migrants such as high standards of living, good education, and a high salary average. The country has beautiful nature and beaches, great weather, and a laid-back lifestyle. English is the spoken language which makes it easy for a wide range of people to meet the language proficiency requirement. Australia provides many immigration programs that target skilled workers, and entrepreneurs including the Skilled Nominated Visa, Global Talent Visa, Employer Nomination Scheme, Temporary Skill Shortage Visa, and Temporary Graduate Visa.
5 Top Benefits of Having Dual Citizenship
In many countries, dual citizenship is allowed according to the constitution, laws, and dual citizenship international agreements. It can be obtained in many ways such as naturalization, registration, or investment. Obtaining dual citizenship through any of these ways is based on specific requirements that could be related to residency, contributing to the economy, or marriage […]
In many countries, dual citizenship is allowed according to the constitution, laws, and dual citizenship international agreements. It can be obtained in many ways such as naturalization, registration, or investment. Obtaining dual citizenship through any of these ways is based on specific requirements that could be related to residency, contributing to the economy, or marriage In all cases, the benefits of having dual citizenship are various which makes it a very attractive choice for people looking for advantages not given to them in their original countries or to maximize their benefits by becoming citizens of more than one country What is Dual Citizenship? Dual citizenship is the legal status when citizens are allowed to obtain another citizenship without losing their primitive citizenship. The right to obtain dual citizenship is subject to the laws of both countries and the international agreement they signed in this regard. The right of obtaining dual citizenship might be restricted in many countries as some types of citizens like those who gained citizenship by naturalization or marriage are not allowed to have dual citizenship. According to laws applied in many countries, the right of getting dual citizenship might be temporarily prohibited as in the case of holders of top positions. They are not allowed to get dual citizenship as long as they are holding such positions but once they leave they get this right back. Furthermore, the right of having dual citizenship itself might be temporary as in some countries children are allowed to hold more than one citizenship until they turn 18 or 21 years old. By this age, they have to give up any other citizenship(s). Benefits of Having Dual Citizenship Citizenship of a country gives people rights, privileges, and benefits granted by national laws and international treatments. Accordingly, the benefits of having dual citizenship are maximized since you can have doubled rights as a citizen in two countries. Residency and Work Dual citizenship gives you the right to reside and work in both countries without having to get residency or work permits. The benefits of having dual citizenship in this regard are various since you can choose between the two countries where conditions such as safety and stability, affordability, living standards, employment, civil rights, or climate and nature are better and more suitable for you. You can also have a mixture of benefits in the two countries like living where it is more safe and affordable and there are more job opportunities and better career path and spending your vacation where there is a good climate, beautiful nature, and entertainment activities and events. Global Mobility Every passport in the world allows its holder a specific level of global mobility based on how many countries they can enter without having to obtain a visa before traveling. Visa-free countries for any passport are mainly based on international, regional, or bilateral agreements to abolish borders and allow citizens to travel freely across the countries within these agreements. Holding two passports based on having dual citizenship gives a higher level of global mobility. Each passport gives free access to a number of countries and both of them combined gives a bigger number of visa-free countries than one passport gives. In addition, if one of your passports is banned from entering some countries, you can easily use the other passport to avoid travel barriers. Education and Health Options Having multiple choices of education and healthcare is one of the most significant benefits of having dual citizenship. Being a citizen in some country gives you access to social services like healthcare education and these services are mostly provided for free at publicly funded institutions. Therefore, having dual citizenship doesn’t only give you multiple choices but also might give you the ability to receive free public education and healthcare in two countries, and then you have the right to choose the better education system and healthcare scheme without restrictions. Investment Opportunities Establishing a business across two countries can double your profits and this is a significant point to be added to the benefits of having dual citizenship since you have the right to establish a business and own properties in the two countries. You can also as a citizen of two countries migrate your business from one to the other based on which one gives you more benefits in terms of taxes, incentives, investment policies, natural resources, skilled workforce, infrastructure, financial system, etc. Cultural Diversity Many individuals might not have the freedom to express their beliefs and tendencies in their original countries either because of the control of governments or the society’s traditions. Having dual citizenship gives those a significant opportunity to not only experience various cultural atmospheres and lifestyles but also to relocate to a place where they can enjoy more freedom, have the lifestyle they wish, and be involved in a society that tolerates their beliefs and personal choices. The advantages of having dual citizenship are various, however, there are many disadvantages such as costs and time spent in the process of getting other citizenship, double obligations that might include taxes, fees, social contributions, and military service, and not being permitted to hold leading or diplomatic positions. So if you are seeking to get dual citizenship you have to consider all positive and negative consequences and make the choice that gives you the advantages you seek to get
What is a biometric passport and how does it work
A biometric passport, also known as an ePassport or digital passport, is a regular paper passport with an electronic chip embedded in the front or back cover or central page that holds users’ personal and biometric information, such as face, fingerprint, and iris data. The biometric passport was first used in Malaysia in 1998. While the […]
A biometric passport, also known as an ePassport or digital passport, is a regular paper passport with an electronic chip embedded in the front or back cover or central page that holds users’ personal and biometric information, such as face, fingerprint, and iris data. The biometric passport was first used in Malaysia in 1998. While the U.S. launched biometric passports in 2006 which became the national standard the following year A biometric passport often includes this information: Full name Date of Birth A photograph or a 3D map of the face that can be used in facial recognition software Place of birth Biometric information, including fingerprints or iris scans Unique chip identification number Digital signature Biometric passport advantages and uses Store personal and biometric information such as face maps, fingerprints, and iris data. Protection from identity theft. Identity verification without the need for a manual check Protect privacy and reduce contact. Speed up passport checks at airports and reduce waiting times. Enhance security and counter fraud, tampering, and illegal entry. How does an electronic passport work? A biometric passport has a microchip embedded in it that acts like a credit card chip and contains specific information about the passport holder such as full name, place of birth, photo or 3D facial maps as well as fingerprints or iris prints. In an electronic border control system, the traveler looks at a screen that takes a picture of them and compares it to the biometric information stored on the chip – such as the distance between the eyes, nose, mouth and ears. The chip in the passport also uses PKI or Public Key Infrastructure technology, which helps prevent data alteration . n the technical side, biometric sensors and scanners analyze the unique physical characteristics of each individual, and the Radio Frequency Identification (RFID) chip in the digital passport stores a number that indicates the individual’s biometric data. This information is then matched by biometric and computer systems to a digital photograph, allowing passport holders to walk through the gates once matched. How do I know if my passport is biometric? A biometric passport is similar to a regular paper passport, but on its cover or on the central page you will find an icon that looks like a camera, indicating that it is a biometric passport. The biometric passport contains an RFID chip that stores more specific information than just your name, date of birth and country. Using an ePassport at the airport When you reach border control, remember to remove your hat, sunglasses, and anything that covers your face. (For those who wear a headscarf, they can request a private room for more privacy.) Open the passport on the photo page and hold it down to the reader. Look at the screen while holding your passport and wait for the green color to flash. Once the green light flashes, you can pass through the gate. If the green light does not appear, you will find someone to help you understand the problem Do I need a biometric passport? If your country has not issued a biometric passport, you can still travel with your standard passport until its expiration date. If the biometric passport is issued in your country, you should make sure to apply for it in order to speed up the checks and verification processes at airports and borders How to get a biometric passport? The applicant for a biometric passport is advised first to carefully read all the instructions for this procedure on the website provided by their country in this regard, and they should follow the required procedures. The applicant should also consider the following tips: Review all information before starting to fill out the application. Ensure that all required documents are attached to the application. Submit your application early before your travel date as the process may take some time. To sum up, the biometric passport is a great product of facial recognition technology as it achieves important outputs, such as increased security, anti-fraud, faster passport verification, and reduced congestion at the crossing gates.
What makes a passport powerful These are the 3 factors
While most passport rankings tools focused on mobility only, the number of countries or territories that a particular passport holder can access without a visa, the Top Passports Index added investment and quality of life as critical factors in determining the strength of passports So when you ask: What makes a passport powerful? The short […]
While most passport rankings tools focused on mobility only, the number of countries or territories that a particular passport holder can access without a visa, the Top Passports Index added investment and quality of life as critical factors in determining the strength of passports So when you ask: What makes a passport powerful? The short answer is its performance in the three key factors of enhanced mobility, investment, and quality of life. In this topic, we will dive deeper into the reasons for choosing these factors and how they work, as well as what are the most powerful passports in the world. Factors that make a passport powerful Nowadays, globalization has become a major component of our world, and as wars and crises spread like wildfire, many people are looking for stability elsewhere, considering options for dual citizenship, and seeking to invest in new territories. Accordingly, the Top Passports Index has created a more comprehensive ranking based on a more practical approach, taking into account not only enhanced mobility but also investment opportunities and quality of life. Therefore, the strength of the passport derives from its performance in enhanced mobility, investment, and quality of life. What is the purpose of having these 3 factors in ranking passports? The Top Passports Index gives a comprehensive overview and in-depth knowledge of passports, not just about mobility, how many countries the passport holders can enter visa-free, visa on arrival and e-travel authorization, and whether it gives holders free access to hotspots such as Schengen countries, the UK and the USA and Canada or not, but also bears in mind: Investment: It gives an overview of the country’s economic situation, which serves those who are looking for new markets or want to relocate financially to a country that offers financial protection for property, assets, and funds, has competitive taxes, and removes barriers to cryptocurrencies. For example, if you are an entrepreneur or investor and have an international business or want to expand your base to new territories, the economic situation of the country will definitely interest you, especially if you want to obtain dual citizenship. Quality of life: Many people seek to resettle in other countries or acquire another nationality to escape conflict or to improve their quality of life. Therefore, knowing the pros and cons, the quality of education, health care, and other services, the nature of the people, and lifestyle is very vital. For example, if you are a citizen of a developing country or a conflict zone and want to obtain another passport, you will definitely look at their performance in the quality of life index, and you will look for a developed country that provides – high-quality education and world-class health care, and you will want an affordable cost of living and a high rate of happiness and a welcoming people to immigrants. Methodology: How to measure the strength of a passport? For the Top Passports Index, the formula for calculating the strength of a passport is simple: 50% + 25% + 25% = 100%. Enhanced Mobility Index: This is 50% of the equation, which means it is the most important factor in determining the strength of a passport, but it is not the only factor. Enhanced Mobility is calculated by adding up the number of countries or territories to which the passport provides free access through a visa-free, visa-on-arrival, or electronic travel authorization. Investment Index: represents 25% of the equation, and this is calculated based on several factors; Market innovation, gross national income (GNI), and personal taxes. Quality of Life Index: It represents 25% of the equation, and it is calculated based on these 6 factors which are sustainable development, cost of living, personal freedom, happiness, environmental performance, and acceptance of immigrants. Top Passports experts collect this data and information on each country separately through reliable indicators and official sources such as the World Bank, the World Economic Forum, the Sustainable Development Index, the World Happiness Report, and more. Most powerful passport 2022 According to the Top Passports Index, this is the ranking of the 5 most powerful passports: 1-USA passport The US passport ranks #1 globally in the Top Passports Index, providing excellent performance in all factors and exceptional investment performance. It ranks 10th in the Enhanced Mobility Index. It ranks 4th in the Investment Index. It ranks 23rd in the Quality of Life Index. 2-Germany passport Germany’s passport ranks #2 in the Top Passports Index as it performs excellently on the three main factors, particularly mobility and quality of life. It ranks 4th in the Enhanced Mobility Index. It ranks 12th place in the Investment Index. It ranks 5th in the Quality of Life Index. 3-Canada passport Canada Passport ranks #3 in the Top Passports Index with a non-comparable performance in all factors, especially exceptional performance in the quality of life. It ranks 24th in the Enhanced Mobility Index. It ranks 11th in the Investment Index. It ranks 4th in the Quality of Life Index. 4-Netherlands passport The Netherlands passport ranks #4 in the Top Passports Index with an outstanding performance in all three factors. It ranks 8th in the Enhanced Mobility Index. It ranks 17th in the Investment Index. It ranks 6th in the Quality of Life Index. 5-Denmark passport Denmark Passport ranks #5 in the Top Passports Index with performance among the best in the world and excellent results in the three main factors. It ranks 7th in the Enhanced Mobility Index. It ranks 26th in the Investment Index. It ranks 3rd in the Quality of Life Index. What is the mobility score in a passport? The mobility score is calculated by summing up the countries and global destinations that passport holders can enter visa-free, visa-on-arrival, and with electronic travel authorization. The higher the mobility score, the more positively affected the passport’s ranking. In the Top Passports Enhanced Mobility Index, Singapore ranks 1st with the highest mobility score, followed by Spain, Finland, Germany, and the United Arab Emirates. To wrap it up, the strength of the passport depends on its performance in improving mobility, investment, and quality of life. The better the passport performs in all three factors, the stronger it will be
Nowadays, many are looking for stronger passports that give them better mobility, rights, and services. Since the Singapore passport is among the best in the world, so many people ask: How to get a Singapore passport? To answer this question, it is worth first reviewing the Singapore passport, which ranks 24th in the Top Passports […]
Nowadays, many are looking for stronger passports that give them better mobility, rights, and services. Since the Singapore passport is among the best in the world, so many people ask: How to get a Singapore passport? To answer this question, it is worth first reviewing the Singapore passport, which ranks 24th in the Top Passports Index. It is one of the most powerful passports in the world and it also ranks 1st in the Investment Index. How to get a Singapore passport? The Singapore Citizenship Act automatically grants citizenship and passport to individuals born to at least one parent who is a Singapore citizen, regardless of the place of birth. While being born in Singapore does not make an individual eligible for citizenship as long as his or her parents are not Singapore citizens. On the other hand, foreigners can apply for Singaporean citizenship after completing the residency requirement which is usually between 8-10 years of continuous residence in the country, provided that they renounce any previous nationalities. How do I get a Singapore passport? The Singapore Citizenship Act automatically grants citizenship and passport to individuals born to at least one parent who is a Singapore citizen, regardless of the place of birth.While being born in Singapore does not make an individual eligible for citizenship as long as his or her parents are not Singapore citizens. On the other hand, foreigners can apply for Singaporean citizenship after completing the residency requirement which is usually between 8-10 years of continuous residence in the country, provided that they renounce any previous nationalities. How to obtain Singapore citizenship? Singapore citizenship can be obtained through more than one way, which we will review in the following points: 1-Singapore citizenship by birth Singapore grants citizenship by birth or what is also known as the “right of blood”, if these conditions are met: If a child born was born in or outside Singapore and at least one of the parents is a Singaporean citizen, the law allows a Singaporean mother to pass on citizenship to her children. The child must be registered in or outside Singapore within one year of his/her birth. 1-Singapore citizenship by marriage Individuals can apply for Singapore citizenship if they marry a Singaporean citizen provided that they have resided permanently in Singapore for at least two years, and have been married to a citizen for more than two years as well. 2-Singapore citizenship by naturalization Naturalization means that an individual acquires citizenship with the approval of the authorities after fulfilling the legal requirements, which are: The applicant must be 21 years of age or older. The applicant must have been a permanent resident of Singapore for at least two years. The applicant can be a child under the age of 21 legally adopted by a Singaporean citizen. The applicant must have passed at least one national examination. 3-Singapore Citizenship by Investment There is no Singapore Citizenship by Investment Program yet, but there is a residency by investment program. Singapore passport ranking The Singapore passport ranks 15th in the Top Passport Index and topping all Asian and African countries. Singapore performs very well in the Enhanced Mobility and Investment Indexes, ranking 1st, but its overall ranking is negatively affected by its ranking in the Quality of Life Index with 130th place. Dual citizenship in Singapore Singapore does not recognize dual citizenship, except where a child born abroad to Singaporean parents can retain the citizenship of the country of birth until the age of 21, and then have 12 months to renounce the foreign citizenship, or revoke his Singaporean citizenship. Obtaining Singaporean citizenship is not an easy process, as there is no citizenship by investment program in Singapore, in addition to the fact that it does not recognize dual citizenship. Therefore, many are turning to other options such as Employment Pass and Residency by Investment programs. Residency in Singapore by Investment Investors can obtain residency in Singapore through the Global Investor Program, which grants residency for 5 years, renewable for different periods, and the conditions are: Invest a minimum of 2,500,000 Singapore dollars. Creation of a new business entity or the expansion of an existing business operation or an investment fund. The investor must have a large commercial record and an entrepreneurial background. The investment must be made within 6 months after the initial approval of the permanent residence. After the authorities agree to grant permanent residence to the investor, they receive a 5-year Re-entry Permit (REP), which allows him to enter Singapore at any time, and maintains Singaporean immigration status when abroad. Renew residence permit in Singapore by investment When the investor wants to renew his residence in Singapore for 3 years, they must meet some conditions, which are: The investor (or a family member) has resided in Singapore for more than half of the past 5 years (first residence period). The investor must have created job opportunities for at least 5 Singaporean citizens, whether in the company they established or in the existing business in which they invested. The investor must have annual business expenses of at least 1,000,000 Singapore dollars. Singapore Employment Pass (EP) The Singapore Ministry of Manpower issues foreign employees, skilled workers, managers, owners or directors of Singaporean companies a work visa, also known as the Singapore Employment Pass, which allows work and live in Singapore and travel and return without the need for visas. The Singapore Employment Pass (EP) grants a work permit valid for 1-2 years and is renewable. Possession (EP) also helps in obtaining permanent residence in Singapore later. The requirements for obtaining the Singapore Employment Pass (EP) are: The applicant’s salary should be a minimum of 4,500 Singapore dollars per month. The applicant should be working in an administrative, executive or specialized position. The applicant should have a university degree from a reputable university. The Bottom line, Singapore does not give its citizenship by investment but there are other ways to obtain a Singapore passport by marriage, naturalization and certainly by birth. It is also possible to apply for a permanent residence or work visa in Singapore