« POPE 5 Home | Email msg. | Reply to msg. | Post new | Board info. Previous | Home | Next

Where the Super-Rich Go to Buy Their Second Passport

By: Beldin in POPE 5 | Recommend this post (0)
Sat, 21 Jul 18 12:27 AM | 69 view(s)
Boardmark this board | Pope 5
Msg. 04441 of 62138
Jump:
Jump to board:
Jump to msg. #

http://www.bloomberg.com/graphics/2018-buying-citizenship/

Cheaper than a Gulfstream, nimbler than a superyacht, a second passport - or a third or fourth - has become another trophy for the ultra-wealthy. ...

While many nations, the U.S. included, allow legal residents the chance to apply for citizenship after meeting certain criteria, only 10 countries permit outsiders to acquire citizenship outright. Most require payment in the form of a direct investment, typically in property or a local business.

Conveniently, eight of them are classified by the IMF as offshore financial centers, though Kalin said stability, not tax avoidance, is what motivates most buyers. That and bragging rights. "If you have a yacht and two airplanes, the next thing to get is a Maltese passport," he said. "It's the latest status symbol. We've had clients who simply like to collect a few."

{Embedded Chart}




Avatar

The essential American soul is hard, isolate, stoic, and a killer. It has never yet melted. ~ D.H. Lawrence


- - - - -
View Replies (1) »



» You can also:
« POPE 5 Home | Email msg. | Reply to msg. | Post new | Board info. Previous | Home | Next