Brazilian Passport: Live in the paradise by investing little and earning a lot

Citizenship is not created equal. Your nationality determines a lot about you, including the amount of taxes you have to pay and how freely you are able to move about in the world. There are big differences among countries and for some individuals this can be a frustrating fact. Considering this, it should come as no surprise that there is a growing trend of people buying a second citizenship. Many of these people are well-off individuals trying to find a better future for themselves and their children. 

Which passports are desirable though and which ones are attainable for those willing to dish out some money? At passportindex.org you can find all the world’s passports organized based on their “power rank”. The power rank is based on the amount of countries a person of that nationality can go to without the need of a visa. 

At the top of the list we have no surprises. The U.S. and U.K. are tied for the number one spot, with 147 visa-free countries each. While on the flip side of the coin we have the Palestinian territories, South Sudan, Sao Tome and Principe, Myanmar, and the Solomon Islands coming in at the bottom of the list with 28 visa-free countries. Brazil, where we are based out of, comes in at number 17 on the list together with Monaco and Romania, with citizens of each of these countries being able to travel to 128 countries without needing a visa. 

There are many countries that either allow someone to buy citizenship directly or offer a route to citizenship to investors. In the past couple of years we have seen more and more countries starting to offer such services, countries like Portugal, Spain, the Netherlands, Malta, and Grenada.    

Of course the requirements and costs of each program differ as greatly as the countries themselves do. Take the United States for example. Yes, together with the UK, the US has the most “powerful” passport on the planet, but for those wanting to invest themselves into citizenship it can be a bit costly. It takes an investment of $1,000,000 to get into the EB5 investor visa program. In addition to that your investment must provide and maintain jobs to at least 10 U.S. citizens. Once that is taken care of you will be eligible for citizenship after 5 years of residency.  

It is easier in a few European countries. You can buy residency in Greece, Cyprus, and Macedonia for a minimum investment of €250,000, from then on you would be eligible for citizenship a few years after.    

What about Brazil? It’s obvious that I should make a shameless plug here. I wouldn’t feel too guilty though because it is actually a great alternative to many other countries which offer these paths to citizenship. Gaining permanent residency here is much cheaper than the previously mentioned countries, the necessary investment is the equivalent of around $50,000 and the path to citizenship can take up to 5 years, sometimes less depending on your situation.

Take note that the bureaucracy in the country can be a bit much sometimes. Oh and the last sentence is a bit of an understatement. Thankfully, there are those out there, like <a href="http://www.BrazilianCitizenship.com">BrazilianCitizenship.com</a>, who can help you out with the process. The same applies with many other countries. 

The reasons people have for buying residency and citizenship are many. Wealthier individuals are usually looking to preserve their wealth. Sometimes the reason can be lower taxes and sometimes they are looking to avoid inheritance taxes altogether. The children of the very wealthy are projected to inherit more than $16 trillion over the next 30 years, just imagine all the taxes on that! Other reasons include escaping political instability, visa-free travel, and access to a higher standard of living. With this trend continuing to grow, we might see more and more countries starting to offer these types of programs.