Golden Passports : An Overview and Insight

A Guide to Golden Passports

In 2022, Indians comprised 9.4% of the global applicant pool for golden passports, as reported by Citizenship Invest. However, it’s essential to understand what a golden passport entails.

It’s a service provided by select nations, enabling foreigners to acquire citizenship by making substantial investments or purchasing property. This option significantly benefits Indian entrepreneurs, as it can streamline their business operations.

Golden Passports Updates

An associate professor specializing in political sociology at the London School of Economics emphasized the challenges that Indians encounter in their international pursuits due to the restricted privileges associated with their passports. An Indian passport permits visa-free entry to just 60 countries, a number equivalent to that of Tajikistan.

Top-ranking European nations, excel in enabling business operations. Among the sought-after passports that offer distinct advantages are Portugal, offering access to the European Union; Grenada, for visa-free entry into the United States, Cyprus for expedited European Union citizenship; and Malta, for European Union citizenship coupled with extensive visa-free privileges.

Individuals with a keen interest in doing business in China can find immediate visa-free access through Dominica and Grenada passports.

These nations also boast a tax-friendly atmosphere, where global income, capital gains, gifts, wealth, and inheritance are exempt from taxation, rendering them an attractive choice for individuals with substantial wealth.

Furthermore, tax optimization serves as a substantial motivating factor. As an illustration, Turkey’s widely embraced golden passport program extends tax and tariff advantages to its citizens when it comes to importing goods into the European Union.

Also Read : India resumes some visa services in Canada

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