Four best countries in the world for second citizenship

The world out there is full of countries that promise the best living experience and real value of their investment. Programs that encourage foreign nationals to establish residency have gained momentum during the last few years as more and more people hunt for second citizenship or simply plan retirement abroad.

The benefits of forming residency comprise access to banks, financial institutions, advance healthcare facilities and conduct trade in the targeted country. Low cost of living and attractive weather are some other reasons to citizenship. Relocating to a much developed state usually offers low cost of living; a higher number of expats are interested to settle themselves in second country where they get modern infrastructure, stable political system and better living.

Pre-concerns

It must be noted that while applying for permanent residency or citizenship would introduce you to a new set of laws and taxes. Holding dual citizenship or legal residential status in two countries means the concerned person is subjected to double taxes and state laws. Leaving the foreign country frequently and reapplying for tourist visa is an option to avoid the tax trap however it might be expensive ultimately.

Applying for residency in developed countries is easy but growing tensions globally might hamper the process. Still, consult attorneys and tax advisors before taking a decision! In the meanwhile, have a look at best countries in the world where you should plan applying for residency.

1. Belgium

If you’ve been living in Belgium for five consecutive years, are a Swiss national or legal citizen of any European Union member state, the status of permanent residency is bestowed. A permanent resident of Belgium is given many privileges such as access to employment, voting, education and social programs so on.

2. Brazil

The beautiful climate and natural surroundings appeals a lot to expats. Although cost of living is high, it’s a perfect sanctuary for retirees over 60 years of age with a verifiable income of $2,000 per month. One can also qualify for investor’s visa through Citizenship by Invest program which gives an option to invest in a business or real estate. You can also qualify for residency after marrying a Brazilian native but it requires staying in the country for almost 10-15 years without travelling off-borders.

3. Panama

Easy immigration system, cost of living and climate makes Panama a fine option for international living. All you need is to apply for Pensioned Tourist Program and furnish evidence of earning around $600 or higher per month. It’s worth noting that one isn’t eligible to hold Panamanian passport through this program however you can qualify for permanent residency. If you’re capable of benefiting the state’s economy through business investment, Panama is certainly a welcoming destination.

4. Singapore

Perhaps one of the easiest countries to establish permanent residency! All that’s required is applying for an employment pass or plan an investment in Singapore’s real estate. Living in the country for two years or more also qualifies for legal citizenship status.

Conclusion

A permanent residency visa generally solves day-to-day expat issues! For more details, visit www.elevay.com and choose your next UK residency.

Howayda Alame is a digital marketing expert from UAE. http://www.localzy.ae