Alessandro Palombo

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Citizenship Second Passport Benefits – More Travel, Security and Opportunity If you want more financial options and the ability to travel freely, getting a second passport might be your next step. Many people around the world opt for it to improve their lives (and quite massively). In this post, we’ll go over second passport benefits, what it is, why more people are choosing one, and how you can decide if it’s right for you. Why More People are Getting a Second Passport It’s a mere misconception lingering from the past that getting a second passport is only a viable option for the wealthy. The demand for second passports has increased dramatically over the years, with more countries allowing dual citizenship. Entrepreneurs, Bitcoin investors, and even regular families that can afford it are now jumping on board to open up new avenues of financial growth, start a new chapter in their lives, or have a “backup plan” in case their home country goes through economic, political, or social instability. For professionals, dual citizenship opens access to new markets, tax benefits, asset protection, and visa-free travel. Families often prioritize safety, healthcare, education, and quality of life when choosing a second passport. If another country offers better opportunities, it’s more than just a luxury. It’s a practical step toward improving nearly every aspect of life. That’s also precisely why every Bitcoiner should invest in alternative citizenship. Key Benefits of a Second Passport Every passport acts like a "key" that unlocks a unique set of privileges. Own two keys? You double your access. That’s the simplest way to explain the biggest advantage of a second passport. The list goes on, but here are just some of the benefits of second passport. Think of these as the “why” behind the growing trend. 1. Freedom to Travel Not all passports are created equal. There are some that act like VIP passes, which let you breeze through borders. Others? They’re more like a never-ending checklist of visas and paperwork. If your current passport limits where you can go, a second (stronger) one becomes your shortcut to stress-free global access. With two passports, you get to choose which one to use when entering most countries. (Quick note: Places like the U.S. require citizens to use their U.S. passports for entry, but this is rarely a hassle. Overall, your second passport will cut through the red tape of global politics, turning you into a truly borderless citizen. 2. Better Security To be fair, no country is immune to crises. Economic crashes, political unrest, and social upheaval will always be a part of a nation. If not at the moment, then potentially in the future. A second passport acts like an insurance policy for your safety. If things go south in your home country, you’ve got a backup plan. It’s a literal ticket to stability. 3. Wealth Protection Ever heard of “don’t put all your eggs in one basket”? A dual citizenship helps you avoid doing just that. Here are a few ways: Open offshore bank accounts (with better interest rates or currency options). Invest in foreign markets (think real estate in stable economies). Slash taxes legally. Countries like the UAE, Portugal, and St. Kitts & Nevis offer near-zero tax rates for citizens. It allows you to spread your wealth globally so that you’re no longer at the mercy of one country’s economy. Besides, dual citizenship also opens up new markets for investment, and now, since you’re a citizen of a new country, it’s much easier to open a business. 4. Access to Better Healthcare and Education Suppose you live in a country where either healthcare or education (or both) is objectively not up to your expectations. In that case, a second passport becomes a way for you and your family to get access to better hospitals and universities. In terms of improved quality of life, the EU has often been a great example of high-quality public services that make a huge difference. Singapore and Canada are also great examples of countries that can help you improve your life and reset your family’s future. 5. Lifestyle Upgrade Retire on a Mediterranean coast. Work remotely from a tropical island. Raise kids in a country with cleaner air and safer streets. A second passport turns these dreams into actionable options. Dual citizenship means you can split your time between two countries. Alps in winter? Bali beaches in summer? Your playground just got bigger because the possibilities are multiplied several times over. How Nationality Affects Your Second Passport Options Your current nationality is the #1 factor shaping your second passport options. Let’s break it down. The No-Go Zone: Countries that outright ban dual citizenship. Think China, India, or Saudi Arabia. If you gain a second passport here, you’ll have to surrender your original one, with no exceptions. The Gray Area: Countries with strict (but bendable) rules. Japan, Germany, and the Netherlands generally don’t allow dual citizenship, but the keyword is “generally”. However, there are loopholes. For example, if you’re born with dual nationalities, if you marry a foreign citizen, or if you secure special government approval, you might keep both, but it’s still not guaranteed. The Flexible Nations: Countries like the US, UK, Canada, and most EU states. Here, holding multiple passports is common. No need to renounce your original citizenship, and you’ll enjoy perks like visa-free global access. It’s important to know that the US taxes citizens worldwide, so weigh the pros (strong passport) against the cons (tax headaches). All in all, your starting point (nationality) decides your path. Second Passport vs. Second Residency: What’s the Difference? They might sound similar, but a second passport and a second residency are very different in terms of what they offer, how you get them, and what they cost. Let’s break them down individually so your options are easier to understand, and you can make the decision that suits you best. 1. Second Residency (Legal Permission to Live in Another Country) You might naturally gravitate towards a second residency instead of a second passport, assuming it’s easier to get and less of a hassle. Indeed, it often is easier and becomes a great alternative for those who don’t feel ready for full citizenship yet. A second residency lets you live legally in another country without becoming a citizen. You keep your original passport, renew residency periodically, and avoid the hurdles of full citizenship. But is it the right move for you? Let’s weigh the pros and cons: ProsConsMost residency programs ask for proof of income, a modest investment, or a business setup. No need to uproot your life, as many don’t even require full-time living.Residency doesn’t equal citizenship. No voting, no passport perks, no consular protection. You’re essentially a long-term guest.Compared to citizenship-by-investment (think six-figure sums), residency is far cheaper.Most residencies demand renewals every few years, and you’ll need to prove you’ve spent enough time in the country. Skip this, and your status vanishes.Some programs, like the UAE’s zero-tax residency, act as financial cheat codes for entrepreneurs. Always consult a tax professional because not all residencies offer perks.Want visa-free access? Residency won’t help. That’s a passport-only perk. If one of your primary goals is traveling with more freedom, residency won’t help.Residency in places like Portugal or Spain can fast-track citizenship after 5-10 years. It’s like a “try before you buy” phase. 2. Second Passport (Full Citizenship) Now, let’s talk about a second passport, which grants full citizenship of a country. This means you’re legally and socially recognized as part of that country and have all the rights granted to its citizens, just like those born there. Here are the good and bad of it: ProsConsYou have the same rights as someone born in that country, allowing you to live freely without visa renewals, vote, and access other citizenship perks.Unless you’re marrying a citizen or claiming ancestry, citizenship demands years of residency (5+ in countries like Spain) or a huge investment. A stronger passport acts like a golden ticket. For example, swapping a restrictive passport for one from St. Kitts & Nevis opens visa-free access to over 150 countries, including the EU and the UK.Many countries do not allow dual citizenship, including India and China. This means, if an Indian citizen wants to become a citizen of another country, they must revoke their Indian citizenship and original passport.Citizenship isn’t just for you but also a gift to your children. Pass it down, and they’ll inherit the same safety, opportunities, and backup plan you’ve secured.Some countries, like the US, tax citizens globally. Even if you live abroad, you’ll file taxes in both countries.When political chaos, economic crashes, or social unrest hits your home country, dual citizenship is your instant exit strategy. No waiting for visa approvals. Just grab your passport and go. Secure Your Second Passport with the Help of Bitizenship Going through the “maze” of bureaucracy, legal hurdles, and investment programs alone? That’s where most people get stuck. However, you don’t have to figure it out on your own. At Bitizenship, we specialize in helping crypto investors and globally-minded individuals secure Portugal’s Golden Visa, which is a powerful first step toward long-term EU residency and eventual citizenship. Here’s why you might want to choose us: Built for Bitcoin Investors: Through the Unbound Fund, you can invest in a Bitcoin-friendly, future-focused vehicle that qualifies for Portugal’s Golden Visa. Expert Legal Navigation: We partner with top lawyers to make sure your application is compliant and headed for success. Focused & Specialized: We don’t offer everything. We focus on what we know best, which is Portugal’s Golden Visa. That means no distractions, no fluff - just proven results. If you want to unlock the lifestyle, business, and travel benefits of a second passport, this is where it starts. Bitizenship helps you carve a strategic move to go beyond borders and achieve your true business and lifestyle potential. Get in touch today to invest in Portugal Golden Visa. Closing Thoughts A second passport can be a game-changer because it gives you the chance to thrive in a country that matches your values, with stronger economies, top-tier healthcare, and freedom you’ve only dreamed of. It might sound a bit too good to be true, but it’s very much attainable. And with Bitizenship, it’s a game you’re built to win. FAQs What are the benefits of having a dual passport? Having a dual passport gives you the same perks enjoyed by citizens of a country. So, if you’re a citizen of two countries, that’s roughly double the benefits. This also translates to access to more countries visa-free, better financial and tax opportunities, a safety net during political or economic unrest, and an overall upgrade to your lifestyle. What is the best country to get a second passport? The best country to get a second passport depends on your goals and preferences. For example, if traveling is a priority, European options like Portugal or Malta are excellent. For those wanting citizenship via investment, there are options like St. Kitts & Nevis or Dominica. And, if you’re seeking long-term residency leading to citizenship, countries like Canada or Australia may be better suited. Which passport has the most benefits? Countries with the strongest passports, like Japan, Singapore, and Germany, offer the most visa-free travel options, with access to over 190 countries. That said, the benefits that matter most depend on personal needs. Some passports provide better financial privacy, tax advantages, and business opportunities, while others make traveling easier. What is the 2nd best passport? Passport rankings aren’t fixed and change based on visa-free travel, global mobility, and other perks. However, according to the Henley Passport Index 2025, the second most powerful passports in the world currently belong to Japan and South Korea, both offering visa-free access to 190 destinations.

11 MIN READ

15 Apr 2025

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Second Passport Benefits – More Travel, Security and Opportunity

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Citizenship European Citizenship by Investment: Why Invest in Portugal? The European citizenship by investment landscape is full of options from Portugal and Malta to Greece and Italy. Millions of investors recognize the value of EU citizenship as crucial in a diversified investment portfolio. Citizenship in the European Union can unlock visa-free travel to 180 countries and territories around the world and provide significant benefits to the modern, high-net-worth investor and entrepreneur. But among EU countries offering residency and citizenship by investment opportunities, Portugal stands apart (Read also: Why Portugal is the Obvious Choice Among European Golden Visa) Through investment programs like Bitizenship's Golden Visa-eligible Web3 companies fund, investors can obtain residency in Portugal and obtain EU citizenship in just five years. Below, we will articulate 3 reasons why wealthy individuals are flocking to Portugal and choosing to invest in the residency by investment scheme over its alternatives (You might also be interested in: Portugal, your window to Europe) 3. European Union Citizenship and Access through a Single Investment The European Union offers one of the world's most attractive citizenship benefits packages. While most EU passports offer visa-free access to over 180 countries, obtaining citizenship in any European Union country will also provide full residency, labor, and education rights across all 27 member states. As an EU member state, Portugal and its Golden Visa program offer similar benefits. Through Bitizenship's regulated fund structure, investors can secure these privileges for themselves and their family members with a single €500,000 investment and flexible physical presence requirements. Rights and Privileges of EU Citizenship After five years of maintaining Golden Visa status and obtaining citizenship in Portugal (an EU country), international investors unlock an EU citizen's privileges. From Mediterranean coastal cities to Nordic technology hubs, EU citizens have unrestricted residency rights throughout the European Union. Additionally, EU citizens can study at higher educational institutions, access healthcare, and travel visa-free throughout other EU countries. The program's benefits extend far beyond basic travel rights. Golden Visa holders who convert their residency to EU citizenship gain full access to the EU labor market, enabling them to pursue business opportunities, investment options, and employment across all member states. This flexibility is particularly valuable for entrepreneurs and professionals seeking to expand their business or investment portfolio in Europe (Read also: This is the Ultimate Passport You Didn't Know You Needed). Healthcare integration represents another crucial advantage. Even as residence permit holders, Golden Visa investors can access some of Europe's world-renowned medical systems and top-tier care in Portugal. Unlike traditional residency or citizenship by investment programs that limit mobility, lifestyle, and investment options to a single country, Portugal's residency program opens doors to each of the 27 EU countries. What Makes Portugal's Golden Visa Attractive? Perhaps most important to global investors and entrepreneurs, Portugal's residency program requires minimal physical presence – just seven days in the first year and fourteen days in the subsequent two-year periods before citizenship eligibility. This flexibility allows investors to maintain their current lifestyle and still qualify for EU citizenship without relocating their family. In summary, these are just some of the privileges EU citizenship provides: Complete freedom of movement and residency across 27 EU member states Full EU labor market participation rights in Investment and banking privileges Integrated healthcare systems World-class educational institutions Unrestricted Schengen Area travel Through Bitizenship's Web3 companies fund, investors can secure these EU benefits while maintaining exposure to innovative, high-growth technology companies. Portugal's residency program and Golden Visa combines traditional residency and citizenship benefits with forward-thinking investment strategy. That's why Portugal rivals citizenship by investment programs as a critical investment tool for high-net-worth individuals. Comparing Other EU Citizenship and Residence by Investment Programs When comparing other European Union citizenship by investment programs and residence permits, Portugal's Golden Visa program stands apart because of its flexibility. Malta's citizenship program requires a minimum investment of €690,000 plus mandatory property purchase (or five-year lease). Despite Malta's citizenship program being the quickest to dual citizenship, its investment thresholds hold back many potential investors. If investors of Spain's now-defunct Golden Visa program desired Spanish citizenship, they would have had tax obligations as 183 days of annual presence were required to qualify in ten years. Greece demands €250,000 in real estate. However, investors must live in Greece for at least six months, speak with language proficiency, and create strong societal ties to qualify for Greek citizenship. Portugal, on the other hand, offers the fastest path of residency programs to obtain EU citizenship, a clear €500,000 investment threshold, minimal presence requirements, and few other criteria for EU citizenship qualification. Maltese Passport and Direct Citizenship by Investment: Minimum investment: €600,000-€750,000 government donation (to be used for Malta's economic development) and real estate investment worth €700,000 or annual lease of €16,000 (held for five years) Processing time: 12-36 months depending on investment route Additional costs: Charity donation of €10,000 and dependent costs Malta Golden Visa and Residence Permit: Investment requirements: €80,000 donation and €300,000 real estate purchase or annual lease of €14,000 (held for five years) Path to citizenship: Rare naturalization Processing time: 6-8 months Additional costs: Charity donation of €2,000 and dependent costs Greece Golden Visa and Residence Permit: Real estate investment: €250,000 in a commercial-to-residential conversion or a refurbished property or €400,000 in 120 m2 property investment in lesser-populated areas (€800,000 in purchased real estate in Attica, Thessaloniki, Mykonos, Santorini, and islands with a population of 3,100+) Path to citizenship: Rare naturalization (language proficiency and substantial presence required for 7+ years) Processing time: 6-12 months Additional costs: Dependent costs Italian Golden Visa and Residence Permit: Minimum investment: €2 million in Italian government bonds, €500,000 in Italian shares (or €250,000 in innovative start-ups, or €1 million in Italian projects of social benefit Path to citizenship: 180+ days of physical presence required for 10 years Processing time: 6-8 months Portugal's Residence Permit and Golden Visa: Investment required: €500,000 in Portuguese private equity and venture capital investment funds (e.g. Bitizenship's Web3 companies fund); €500,000 in scientific project donations; €500,000 in a local Portuguese company and job creation; or €250,000 in non-refundable financial contribution to cultural heritage preservation Passport strength: Visa-free travel to 177 countries Path to citizenship: 7+ days of physical presence required per year for 5 years Processing time: 12 months As obtaining EU citizenship and a European passport becomes more difficult, Portugal's residency program stands out from other EU countries for its flexibility, minimal requirements, and fast-track to dual citizenship (Read also: Dual Citizens Like Elon Musk and Peter Thiel Rule World: Why and How to get Dual Citizenship). Bitizenship's Unique Value Proposition Unlike alternative citizenship by investment programs (e.g. Malta citizenship) that require direct property investment or government bonds, Portugal's approach aligns long-term mobility benefits with forward-thinking investment strategy. Providing exposure to the Bitcoin ecosystem, Bitizenship's Web3 companies fund satisfies Portugal's capital transfer via fund investment requirements. Managed by Green One Capital with professional oversight of investments, the fund complies with all Golden Visa criteria. The regulated fund offers professional fund management, clear exit strategy after the five-year holding period, and institutional-grade custody solutions. For global investors seeking EU citizenship by investment, Portugal's residency program and Golden Visa combines the lowest presence requirements with innovative investment opportunities. These features of Bitizenship's fund position it as the optimal route to citizenship by investment in an EU country. 2. Geographical and Geopolitical Advantages of Portuguese Residency Portugal's position as a stable EU member state far from conflict zones makes it ideal for high-net-worth individuals concerned about their and their family's future. As the 4th most peaceful EU country and the world's 7th most peaceful country overall according to the 2024 Global Peace Index, Portugal maintains neutrality and a safe environment for families who've chosen it as their home. Distance, Neutrality, and Balance Unlike many EU countries that face direct geopolitical pressures, Portugal's location on Europe's western edge provides insulation from ongoing and future conflicts. As a member of both NATO and the European Union, investors in a golden passport have the security of Western alliances without the heightened risk profile of Eastern European or Balkan nations. Portugal's diplomatic strategy mirrors its geography: Balance. The EU country has created relationships with emerging powers and numerous countries worldwide. Particularly evident in Portugal's constructive engagement with BRICS nations and its membership in NATO, this dynamic creates a stable, balanced environment for international investors seeking European citizenship. The world is increasingly multipolar. For citizenship by investment seekers, investment programs in balanced, pragmatic countries are attractive. And despite their membership in several global organizations, Portugal maintains a relatively neutral attitude toward global geopolitical affairs and conflicts. Political and Financial Stability The country's economy is strong. While many countries offer residency or citizenship by investment programs to offset government hurdles, Portugal's economic stability within the European Union creates a secure foundation for residency by investment. Inflation rates are below European Union benchmarks. And being the only country that has a GDP growth rate above 1.9% (outpacing most EU countries), the country offers a reliable economy for long-term investment planning. Foreign investors benefit from protection. The Golden Visa program operates within established Portuguese and EU law, ensuring investment security through: EU-level oversight of financial institutions Transparent investment regulations Banking sector stability Through Bitizenship's regulated fund structure, investors receive additional protection like professional management of funds, institutional-grade custody, and regular reporting requirements. This security framework positions Portugal's ten-year old residency program as one of the most stable routes and citizenship investment options globally. For investors seeking European citizenship through economic contribution programs, Portugal's combination of political stability, legal protection, and economic growth provides an unmatched foundation for long-term wealth preservation and global mobility. For high-net-worth individuals who desire more visa-free travel, a second citizenship, and residency rights that only EU citizens can obtain, European citizenship is the ideal investment option. And among European citizenship by investment routes, Portugal's citizenship program is the most flexible and stable. 1. Ultimate Plan B Security for Generational Wealth As high-net-worth individuals have known for a century, a well-diversified portfolio is key to wealth preservation. In the same sense, contemporary investors and entrepreneurs have found that a second citizenship provides opportunities that they would not have otherwise: More residency options More tax optimization options More mobility and travel access More investment and banking privileges More education opportunities for their children A Portuguese passport has emerged as one of the world's most powerful travel documents, offering visa-free access to over 180 countries and territories, and Plan Bs for these investors. As such, this makes EU citizenship in Portugal an essential component of any second citizenship strategy. The Strong Portuguese Passport Beyond visa-free travel access, an EU passport holder has critical advantages. As a member state of the EU, citizenship in Portugal offers diplomatic protection across the globe, ensuring assistance through Portugal's and the European Union's extensive consular network. Although an investor does not hope this protection becomes necessary, it is increasingly valuable as tensions rise and geopolitical alliances shift. An EU passport holder also has benefits in the European Union, of course. To start, the banking and investment opportunities are significant in a world of increasing financial and regulatory restrictions. For those investing from outside the EU, Portuguese citizenship opens doors to EU financial institutions, banking services, and investment projects across the region. For those seeking ultimate Plan B security, Portuguese EU citizenship represents a strategic asset that provides generational protection for your family's wealth, mobility, and personal freedom. Family Member Inclusion Portugal's Golden Visa stands out for its family inclusion benefits. Portugal's program allows investors to include in their application family members like dependent children, spouses, and dependent parents for low additional fees. Portuguese Permanent Residency and Citizenship By citizenship by investment industry standards, the path to permanent residency and citizenship is remarkably straightforward. To qualify for either route, Golden Visa holders need only spend seven days in Portugal during the first year and fourteen days in each subsequent two-year period and maintain their original investment. After five years, investors can apply for permanent residency or proceed directly to EU citizenship after passing a basic Portuguese language test. This flexible presence requirement distinguishes Portugal's program from other EU citizenship options. While Malta's economic citizenship program does not demand any physical presence after obtaining the EU citizenship, Greece requires at least six months of annual residence for seven or more years to qualify for Greek citizenship. Therefore, Portugal allows investors to obtain European citizenship with minimal disruption to their current lifestyle and business commitments. Permanent residency vs. citizenship Permanent residency allows an individual and their family to live, work, and study in Portugal just as EU citizenship does. They also can access public services and social security as Portuguese citizens can. However, they do not have other privileges reserved for Portuguese citizenship, including the right to vote in Portugal and EU-wide residency, education, healthcare, and labor rights. Through Bitizenship's Web3 companies fund, investors can secure these lifelong benefits while maintaining exposure to Bitcoin-focused innovation (You might also be interested in: Why Every Bitcoiner Should Invest in Alternative Citizenship). Our regulated fund structure satisfies all Golden Visa requirements while positioning families for long-term participation in the digital economy. For investors and families seeking a second citizenship, Portuguese citizenship through investment offers unmatched benefits, which few countries can tout. From the program's flexibility to its path to obtaining citizenship, EU citizenship and an effective Plan B creates the opportunity for a lasting legacy. Portugal: The Ultimate Diversification Investment Program Portugal's residency and Golden Visa program and second citizenship offers benefits that make it an important element of any investment portfolio. The program's clear path to EU citizenship, combined with flexible and minimal presence requirements, creates a powerful asset for generations to come. To learn more about securing your family's future through Portuguese residency permit then citizenship, visit Bitizenship.com to explore our Web3 companies fund structure and Golden Visa qualification process.

12 MIN READ

20 Feb 2025

European Citizenship by Investment: Why Invest in Portugal?

Golden visa 8 Reasons to Invest in the Portugal Golden Visa and Residence Permit The global investment migration industry saw some turbulent changes in 2024. But one jurisdiction stands resilient: Portugal. As nations worldwide tighten their foreign investment and immigration policies, the Portugal Golden Visa program continues to offer a path to Portuguese nationality through diverse investment options. Evolving beyond traditional real estate to embrace new asset classes, the residence permit and investment program now includes Bitizenship's pioneering venture capital funds with exposure to the Bitcoin ecosystem. For Golden Visa investors who desire investment return, minimal requirements, and an effective Plan B, Portugal's appeal extends far beyond its residency program. In this guide, you'll learn eight compelling reasons why foreign investors increasingly apply for the Portuguese Golden Visa over other EU Golden Visa programs. The Current State of Portuguese Immigration Portuguese nationality and immigration law has undergone a seismic shift. Few expected upwards of 100,000 investors and families to participate in the Portugal Golden Visa when it was first introduced in 2012. Since then, immigration officials have modified the program. Here's where it stands as of 2025: In 2023 the popular real estate investment pathway was eliminated from the residency by investment program. Both the private and public sectors have worked together since then to introduce innovative new qualified investment structures that align with Portugal's vision for the future, benefit the local people, and allow investors to gain residency in the country on the path to Portugal citizenship. Diverse Investment Options Under current Portuguese law, the Golden Visa program offers three major capital investment options: The first involves regulated private equity and venture capital funds, where Bitizenship has established the world's first Golden Visa-eligible fund of Web3 companies. Minimum investment starts at €500,000. Second, investors can choose to dedicate that €500,000 to an existing local business and create ten or more jobs (eight or more jobs in a low-population density area). Last, investors may donate €250,000 to arts and national cultural heritage productions or €500,000 to national scientific research activities. Furthermore, the current Golden Visa structure allows for investors to include family members – like dependent parents and dependent children (more on this below) – in their application as well. For prospective Golden Visa investors exploring their options, it's crucial to understand that immigration officers now desire technological advancement and economic diversification in Portugal. This is the reason for the elimination of the property investment option and introduction of the lower threshold cultural heritage and science donation options. In the most recent update from AIMA, the department in charge of Portugal immigration policy, the application process has been significantly streamlined for both old applicants and new investors. A digital platform will allow applicants to track their process from investment all the way through to permanent residency/citizenship eligibility. Additionally, AIMA has indicated that the countdown to Portuguese nationality eligibility starts upon application submission, not application approval or providing biometric data. This institutional framework ensures that applicants of the Golden Visa program are processed with transparency, clarity, and speed. Eight Compelling Reasons to Choose Portugal 1. Streamlined Path to Portuguese Citizenship and EU Nationality While Caribbean nations have direct citizenship by investment programs, non-EU nationals recognize that Portuguese citizenship offers something far more valuable – even if it's not as direct or rapid: Citizenship in the European Union has many advantages. The path to obtain Portuguese citizenship through the Golden Visa program is efficient. After maintaining your qualifying investment for at least five years and meeting other physical presence and Portuguese language requirements, you can apply for Portuguese nationality or permanent residency under the Portuguese nationality law. This five-year timeline positions Portugal as the fastest EU Golden Visa program to citizenship, especially considering the minimal physical presence requirements. You must visit Portugal for at least seven days in year one, followed by fourteen days in each subsequent two-year period. That equates to just seven days a year on average. Then, investors can acquire citizenship under Portuguese citizenship law. What sets Portuguese citizenship apart from Caribbean citizenship is the unparalleled access it provides. As a Portuguese citizen, you gain visa free travel to over 185 countries, including long-term access to all EU countries. The Portuguese passport is one of the strongest travel documents in the world. This effectively transforms your global mobility and investment portfolio, particularly for non-EU nationals with restricted travel privileges. Portuguese citizens also enjoy the right to live, work, study, access healthcare, and travel visa-free in each of the 27 EU member states. Moreover, Portuguese nationality law allows for dual citizenship, meaning you can retain your current citizenship while you acquire Portuguese citizenship. Upon becoming a resident through the Golden Visa program, you also immediately gain access to Portugal's world-class healthcare system and educational institutions. The strategic value of European citizenship cannot be overstated in today's world. With more access and options come more opportunities for you and your family. If you obtain citizenship in Portugal, your family members will have generational access to the European continent and be able to pass down citizenship to their children as well. Even persons born abroad to Portuguese citizens are entitled to Portuguese nationality. 2. Economic and Political Stability Over the last few years, seemingly traditional and stable geopolitical powers have faced bouts of volatility. Among European Union countries, Portugal stands as a beacon of economic stability. While other European nations grapple with political upheaval and economic uncertainty, Portugal maintains one of the continent's most stable investment environments. As a fully integrated member of the EU's banking system, Portugal Golden Visa applicants gain access to the country's financial infrastructure and a growing cryptocurrency hub. Opening a bank account in Portugal provides entry to the European financial network, with protections under EU banking regulations. And with Portuguese nationality, citizens gain even more banking and investment privileges across the region. While other countries frequently suspend or dramatically alter their citizenship programs, the Portuguese Golden Visa investment program has evolved strategically since its introduction in 2012, maintaining its benefits while adapting to its population's and economy's needs. For investors interested in more innovative funds designed for these dual objectives, Bitizenship's venture capital fund of local and international Web3 companies provides an additional layer of security. The investment framework has remained relatively consistent, providing the certainty required for investors' long-term plans. Critical to this stability is Portugal's due diligence process. The clean criminal record requirement serves a dual purpose: It maintains the program's reputation while ensuring only law-abiding residents join the national community. This vetting process also includes background checks, source of funds verification, and ongoing compliance monitoring. 3. Strategic Geographic Location While many countries in the European Union can boast their strategic position in the settlement bloc and economy, Portugal offers a unique geographic advantage that investors have capitalized on. As the westernmost point of continental Europe, Portugal serves as a bridge between North America and Europe and its capital Lisbon an important business hub in several industries, including the traditional financial and cryptocurrency sectors. Six-hour direct flights connect major Portuguese territory to travel hubs across the United States and Canada, making Portugal an ideal base for entrepreneurs maintaining trans-Atlantic business operations. For those wanting to establish a European Union presence while maintaining strong ties with North America, Portugal's strategic position has attracted many Golden Visa investors. And for residence permit holders who must visit the country for at least seven days per year (on average) to maintain the visa and qualify for citizenship, this ease of travel makes Portugal's Golden Visa attractive. Portugal's accessibility and growing reputation as a business hub in Europe creates opportunities for Golden Visa investors looking to bridge multiple markets from a single, stable base. 4. Mediterranean Lifestyle & High Quality of Life Several European Union countries offer Golden Visas and other residency programs. But Portugal's Golden Visa delivers on a key factor that continues to appeal to investors: InterNations' Expat Insider 2023 report ranked Portugal as having the world's tenth highest quality of life. The Portuguese territory combines Mediterranean charm with modern European lifestyle, creating an environment that rivals California's celebrated lifestyle – at a fraction of the cost. Portugal's climate speaks volumes: 300 days of sunshine annually Average temperatures from 15°C (59°F) in winter to 30°C (86°F), nearly identical to San Francisco's climate profile This environmental advantage has attracted a thriving Portuguese community of international entrepreneurs and remote workers, particularly in Madeira, Porto, and Lisbon. Additionally, the country's national cultural heritage is another advantage. Portugal ranks as Europe's fourth-largest wine producer, with 31 protected wine regions across the Portuguese territory. Portugal's gastronomy scene has earned international acclaim, with 28 Michelin-starred restaurants as of 2025 – a remarkable density for a nation of only 10 million. For Golden Visa residence permit holders seeking more than a foothold in Europe, Portuguese citizenship, and expanded visa-free travel, the country's rich culture offers incredible value – even if they don't relocate. The government has actively preserved this heritage through Golden Visa-qualifying investments initiatives in artistic production and cultural heritage projects. 5. Cost-Effective Living While Golden Visa programs require significant investment in the country, Portugal offers a unique proposition – access to European quality of life up to 50% more affordable than other EU countries. Numbeo's 2024 Cost of Living Index reveals that Portugal ranks 58th of 140 countries in cost of living. In fact, daily expenses in Portugal are 47.7% more affordable than France's, making the former a cost-effective choice for life abroad. For Americans analyzing their investment options, the numbers are compelling: Portugal's minimum investment requirements (€250,000 - €500,000) for the Golden Visa program remain among the most accessible in the EU. The Portuguese territory still offers exceptional value for personal property acquisition even if real estate investment no longer qualifies for the Portugal Golden Visa program. According to Knight Frank's 2024 Global Residential Cities Index, prime property in Lisbon averages €5,700 per square meter but has surged 5.6% in the last twelve months. The Non-Habitual Resident special tax regime was eliminated in 2024. However, the Portuguese parliament is currently discussing a revised program to introduce significant tax benefits to new legal residents in the country, including a 20% flat tax on local employment for ten years and zero tax on foreign income such as dividends and royalties. Here's a rough overview of other worthwhile tax advantages in Portugal: No wealth tax No inheritance tax for direct family members No capital gains tax on cryptocurrency held for more than one year Portugal's tax optimization opportunities and lower cost of living have compelled thousands of investors. For those interested in completing a Golden Visa application and potentially acquiring citizenship, Portugal offers significant chances for investors to preserve their capital over a long time period. 6. Family-Friendly Immigration Policies While many investment migration programs limit family inclusion, the Portugal Golden Visa program stands out for its approach to family reunification. First, with the required documents and associated fees, those applying for the residence permit are able to include several family members in their application. According to recent data, successful Golden Visa applicants can include: Dependent children up to age 24 (if enrolled in educational institutions) Dependent parents over 65 years old Spouses or legal partners through civil union Children with disabilities regardless of age Dependent family members enjoy identical rights as the main applicant, including access to education, healthcare, and eventual Portuguese nationality in at least five years. Once the residence permit is obtained, Portuguese law extends these benefits across generations. Portuguese citizenship law explicitly recognizes that those of Portuguese roots are eligible for Portuguese nationality and a second passport. That means that children born to Portuguese parents automatically qualify for Portuguese nationality, even if born abroad. The Portuguese government's approach ensures that your qualifying investment secures not just your future, but your family's legacy within the EU for generations to come. 7. Safety and Welcoming Culture Portugal ranks as the 7th safest country in the 2024 Global Peace Index, surpassing traditional safe havens like Denmark, Canada, Norway, and Japan. Safety and security are fundamental advantages for Golden Visa holders considering eventual permanent residence and Portuguese nationality. The data supporting Portugal's safety credentials is compelling: Violent crime rates 70% below the EU average One of the lowest homicide rates in Europe at 0.9 per 100,000 inhabitants Beyond safety metrics, the Portuguese community's welcoming nature sets it apart from other European countries. In the same Expat Survey mentioned above, Portugal ranks 17th in the world for its population's welcoming attitudes to tourists and new residents alike. The Portuguese government has actively attracted foreign direct investment and immigration through: Ease of applying for Portuguese residence permits and citizenship Multilingual services in major immigration offices Integration programs for new legal residents Cultural exchange initiatives Portugal also boasts one of Europe's highest English proficiency rates outside the UK, ranking 8th in the continent. Major cities like Lisbon and Porto have thriving international expat communities where English is widely spoken. However, do learn some Portuguese because basic proficiency in the Portuguese language is required for those applying for Portuguese nationality after five years of residency. 8. Minimal Residency Requirements Perhaps most significant of the advantages of the Portugal Golden Visa program is the minimal physical presence requirements. While nations like Greece demand six months of annual physical presence to naturalize in seven years, the Portuguese government has established Europe's most flexible residency requirements: First year: Just seven days in Portuguese territory Subsequent two-years: 14 days in each period Five-year total requirement: Only 35 days Investors, entrepreneurs, and professionals generally appreciate this minimal residency period as it allows them to remain flexible and maintain their current lifestyle while working toward legal residence and Portuguese nationality in just five years. If a Golden Visa holder meets their residency requirements each year, that also means they do not relocate their tax residency and would not require a tax filing in Portugal either. Compared to other European Golden Visa programs, these requirements are significantly less demanding. According to a recent update from AIMA, the Portuguese nationality law has further streamlined the path to citizenship by counting your legal residence from the date of initial Golden Visa application, not approval. This means time spent during application processing counts toward your five-year requirement for obtaining Portuguese citizenship and extensive visa-free travel around the globe. The 2025 Investment Process While many perceive the Golden Visa application as complex, the Portuguese government has established a clear, systematic pathway, especially in recent months. To reduce processing times for qualified investors, reforms have digitized a significant portion of the application process. The Portugal Golden Visa program in 2025 requires the following sequential steps: Initial Capital Transfer Requirements: €500,000 for private equity or venture capital funds (like Bitizenship's fund) €500,000 for local business investments that create 8+ new jobs €500,000 for a contribution to national scientific research activities €250,000 for a contribution to artistic and national cultural heritage projects Other Required Documents for Golden Visa Applicants: Valid passport Clean criminal record from prior countries of residence Portuguese tax identification number Proof of qualifying investment completion Birth certificate Bank account statements showing investment source Proof of local health insurance coverage Biometric Data Collection: In-person appointment at the immigration office Digital fingerprint scanning Current photograph collection Signature verification Eligibility for Portuguese Nationality Assuming an investor has completed the Golden Visa investment process and become a temporary resident of Portugal, they must then accomplish the following in order to qualify of Portuguese citizenship: Complete minimum physical presence requirements (outlined above) Maintain their investment for the minimum period of five years Demonstrate basic proficiency in the Portuguese language Provide evidence of a clean criminal record Complete biometric data collection Hold a valid passport The Portuguese immigration office typically processes complete initial Golden Visa documents within 12-24 months, with successful applicants receiving their residence permit retroactive to their application submission date. This institutional efficiency ensures that time spent during processing counts toward the minimum period required for obtaining Portugal citizenship. Contact Bitizenship to Get Started on Your Portugal Golden Visa and Path to Portuguese Nationality For investors, entrepreneurs, and families seeking an insurance policy and more options as geopolitics reshape the world, the Portugal Golden Visa program stands out as an option for both a residence permit and eventual Portuguese citizenship (in the EU). Through qualifying investment in investment funds like Bitizenship's initiative, investors can secure Portuguese nationality in just five years. Portugal offers an unmatched value proposition. Contact Bitizenship today to explore how our institutional-grade investment solutions can align with your global mobility goals and help you obtain Portuguese citizenship through our pioneering fund structure.

14 MIN READ

11 Feb 2025

8 Reasons to Invest in the Portugal Golden Visa and Residence Permit

European Union Why Portugal is the Obvious Choice Among European Golden Visas European golden visa programs are dying – or so the headlines would have you believe. With Spain's golden visa shuttering and Malta's citizenship by investment scheme under EU scrutiny, investors are questioning the future of investment migration in Europe. Yet, offering investment flexibility, program stability, and a fast citizenship pathway, Portugal's golden visa continues to strengthen. But why? Why does Portugal's golden visa consistently outperform alternatives across the European Union? How have legislative changes enhanced its position? And how are innovative investment choices – including regulated exposure to Bitcoin – reshaping residency by investment? For foreigners seeking European residency or planning their mobility strategy, understanding these distinctions is crucial. Let's walk through each one: The Current Landscape of European Golden Visas Programs The European Union's golden visa field has undergone a significant transformation. While most golden visa schemes continue to attract investors from around the world, regulatory scrutiny at the EU headquarters in Brussels are reshaping the industry's future. Of course, these legal frameworks present both challenges and opportunities for wealthy individuals seeking residency or citizenship in Europe through investment programs. Let's explore what's changed and how it may impact most golden visa programs in the region. Why 2025 May Be a Banner Year for Residency and Citizenship by Investment Programs The Malta citizenship by investment ruling before the European Court of Justice (ECJ) is a pivotal moment for investment migration. The Court's decision will establish new parameters for how EU member states structure their investment programs and act in their own sovereign interests. Rather than curtailing these programs, however, the ruling may actually catalyze the development of more residency by investment and citizenship by investment schemes across the European Union. Regulatory clarity and enhanced due diligence standards could strengthen existing golden visas while creating legal standing for new ones – even citizenship by investment programs, of which there is currently only one (Malta) in Europe. Broader Mobility Trends Beyond Visa-Free Travel 2025 global mobility trends reflect how investors increasingly view internationalization as a tool for diversification and asset protection. Traditionally, investors from politically-maligned countries like China, Nigeria, and India have pursued additional passports to pad their visa-free travel. But now, this approach has evolved into a more complete evaluation of investment choices, optimal jurisdictions, tax implications, and wealth preservation strategies. Of course, this shift has benefited golden visa schemes that offer more investment flexibility (e.g. real estate, donation, VC funds, government bonds, alternative investment vehicles), more tax-friendly regulation, and higher quality of life. Specifically in Europe, investors prioritize programs that offer clear paths to permanent residency and eventual EU citizenship and transparency throughout the application process and investment requirements. Investors want institutional-grade investment structures and professional program management – elements that arguably have been lacking in other jurisdictions' immigration offices up to this point. As a result, regulatory evolution and program sophistication will converge. And this adjustment in the market suggests a new era for residency and citizenship programs that align with both investor interests and EU priorities. Analysis of European Golden Visa Alternatives As they stand today, European union features several golden visas and residency by investment schemes. Below, we examine each: 1. Greece's Golden Visa Historically popular among Middle Eastern and Asian investors, Greece's golden visa program presents an increasingly complex value proposition. The program's fundamental structure offers several investment routes, including property investment, business investment, and a recently introduced startup option. Difficulty of Naturalization The path to citizenship through Greece's residency by investment program has become notably challenging. While citizenship eligibility technically exists after obtaining residency, investors must live in the country for 183 days annually for seven continuous years after meeting investment requirements. For wealthy individuals who often manage international business interests or don't want to relocate permanently, such presence requirements pose substantial lifestyle disruptions. Successful naturalization cases remain low and flat as a result. Administrative Challenges Current processing timelines for golden visa applications extend up to 24 months, creating uncertainty for investors and their family members as they try to plan their future. This backlog affects not only initial residence permit issuance but also subsequent renewals and citizenship applications. Greek Real Estate Market For the last decade the most popular investment route for golden visa investors in Greek has been purchasing real estate. Not necessarily because of foreign investors, the Greek real estate market has inflated significantly, especially in prime investment locations. Price inflation of housing has prompted Greek politicians to act and adapt new minimum investment thresholds for property in key markets like Athens. This change in the golden visa process has created a new entry barrier for recent applicants seeking a residency permit in Greece. Investment Program Flexibility One notable bright spot is a recently introduced €250,000 startup investment option. This pathway allows investors to obtain residency by investing in innovative yet small Greek enterprises and hopes to divert some investment value away from the real estate market. However, this option's newness means its viability remains untested. When evaluated against other EU golden visas, Greece's offering maintains certain advantages like its low investment threshold. However, extended processing times and stringent physical presence requirements for citizenship suggest that investors may choose alternatives. 2. Malta's Golden Visa Malta's investment migration framework presents a complicated cost-benefit equation for prospective investors, with both a residency by investment and a citizenship by investment program. The financial requirements for Malta's citizenship by investment program exceed those of other programs around the world. But as the only European Union member country with a standing direct economic citizenship program, it also offers far greater benefits. Maltese Residency by Investment To qualify for residency in Malta, investors must declare their funds and make a combination of government contributions, real estate investment, and other investments totaling more than €300,000. Then to qualify for citizenship, investors face a minimum 10-year timeline, a naturalization period that stands in contrast to Portugal's five-year residency requirement for citizenship eligibility. Maltese Citizenship by Investment While offering a faster three-year route to citizenship, Malta's CBI program demands more than €1 million when accounting for all mandatory investments and fees (compared to Portugal's €500,000 threshold). Beyond meeting investment requirements, applicants must exceed physical presence requirements and cultural integration metrics if they want to qualify for citizenship. Unless investors and their family members are willing to relocate to Malta and become active members of society, these obligations are daunting. Timeline Considerations Even accounting for current application processing delays, Malta's pathway to citizenship via the RBI program remains significantly longer than other European golden visa alternatives. If you prioritize cost efficiency and a fast timeline in your pursuit of a European residence permit, you may find alternatives more favorable. 3. Italy's Golden Visa Positioned in one of Europe's largest economies and with one of the world's most extensive visa-free travel passports, Italy's golden visa program may provide a great opportunity for those wanting to invest in Europe in a tax-advantageous way. But the program also has a relatively rigid investment structure. Let's explore. Italy's Investment Options Italy's program is not the most flexible of the European golden visa schemes. Investors must make a minimum investment of €2 million in Italian government bonds, €500,000 in an existing business, or €250,000 to an approved innovative startup in the country. Unlike Portugal's golden visa, which permits more innovative investment structures, Italy's program lacks provision for other investment vehicles in emerging asset classes and sectors. Additionally, Italy has a special tax regime that may attract foreign investors to the residency permit. And, for high earners Italy offers a €200,000 lump sum tax per annum for 15 years without the need for even a tax return. Italy's golden visa program occupies a middle ground among EU golden visas. While the minimum investment thresholds and tax benefits help it compete with other programs, its requirement for significant investment in traditional government bonds or existing businesses or high-risk investment in a startup may not align with strategies preferred by wealthy investors and entrepreneurs seeking residency by investment opportunities. 4. Spain's Golden Visa After years of bureaucratic back-and-forth and mounting political pressure regarding housing affordability, Spain has officially terminated its golden visa program. Spanish financial institutions and real estate developers had previously benefited substantially from foreign direct investment and property acquisition. The program's closure warrants analysis of investment migration legislation across the whole European Union. While the ECJ case and general direction of free market economics hint toward more programs in the region, some politicians may shift this course. Spain's situation appears largely driven by domestic housing market dynamics and political persecution rather than fundamental opposition to investment migration programs. The Spanish golden visa's focus on real estate investment, unlike Portugal's more diversified approach through various investment funds and options, left the program vulnerable to pointed criticism. But even so, if an investor sought Spanish citizenship and an EU passport, the path to naturalization was long. Compared to the Spanish golden visa's ten-year path to citizenship, Portugal's golden visa offers lower investment requirements, lower physical presence requirements, and citizenship eligibility after just five years. 5. Hungary's Golden Visa Hungary has recently launched its own golden visa program and identified the funds available for investment. While the program's structure aligns with broader European investment migration frameworks and Hungary's politicians generally ignore regional trends, its nascent status and limited history offer some uncertainty. Elimination of Real Estate as an Option for Investment The investment framework reveals a notably restricted approach compared to other EU golden visa programs. The elimination of the €500,000 real estate investment option just before it was set to launch represents a glaring departure from its original and most appealing golden visa structure. Instead, the program focuses on a €250,000 real estate fund investment or a €1 million donation to a higher education institution. While it may simplify program administration, this restriction may constrain investors seeking specific investment opportunities. Hungary's Market Position Hungary's temporary residence permit program currently occupies an uncertain position in the middle of other countries in the European investment migration ecosystem. The golden visa's investment thresholds are competitive. But its restricted investment options may impact its attractiveness to high net worth individuals seeking European residency and eventually a European passport. The program's credibility among investors will depend on demonstrated efficiency over time. Lack of Credibility From a credibility perspective, Hungary's program currently lacks the established track record that more mature European golden visa programs have. Hungary's immigration unit claims they can process applications in just a few months, but the truth is yet to be seen. But we're optimistic. With more programs come more innovation, more competition, and lower prices – as economists tell us. May the best golden visa win. Portugal's Golden Visa So we've covered various golden visa countries and their unique appeals to investors from around the world seeking residency and better visa-free access with European citizenship. Now it's Portugal's turn. Portugal's golden visa program has established itself as a market leader among EU golden visa programs through flexible investment options, lower requirements for permanent residency, and a transparent pathway to citizenship. Investment Framework Since its inception in 2012, Portugal's golden visa has evolved with current investment choices reflecting investor preferences and local needs. €500,000 fund investment in venture capital funds (e.g. agriculture, energy, technology) or Bitizenship's Bitcoin company ecosystem fund €500,000 in a local Portuguese company that creates 10+ jobs €250,000 contribution to the arts or cultural heritage These investment vehicles provide foreign investors with active management, portfolio diversification, and exposure to growth opportunities within the Portuguese and European markets. Bitizenship's fund represents a particularly innovative development within this framework. By focusing on companies advancing Bitcoin's institutional adoption around the world (many of whom have a footprint in Portugal), the fund aligns traditional investment migration objectives with exposure to the emerging Bitcoin and crypto ecosystems. While investors don't invest directly in Bitcoin, they do have indirect Bitcoin exposure through a regulated, institutional-grade fund structure, which is fully compliant with Portuguese golden visa legislation. Therefore, investors can remain partly exposed to the booming industry of crypto and Bitcoin. With these various funds and investment alternatives, Portugal's golden visa has significant financial investment flexibility compared to programs restricted to real estate investment, government bonds, or a single investment fund. High net worth individuals want to diversify their portfolio. More options equal more opportunity. Processing Efficiency The Portuguese immigration authority (AIMA) has implemented substantial enhancements to its application process, supported by private sector initiatives and a new digital platform to improve efficiency. Although the process was backlogged more than a year at its peak, these developments will result in more predictable timelines for golden visa applicants. Key requirements for investors include: Proof of qualifying investment (e.g. bank deposit and statements) Clean criminal record Valid passport Portuguese tax identification registration Health insurance coverage The program's family inclusion benefits represent another significant advantage. Golden visa investors can also include the following family members within their application: Spouse or legal partner Dependent children Dependent parents Dependent siblings (under specific conditions) Path to Citizenship Why would you want Portuguese citizenship? Portugal citizens enjoy visa-free travel to more than 180 countries, making it one of the strongest travel documents in the world. In addition, because of Portugal's EU membership, citizens can live, work, study, access healthcare, and travel visa-free in any of the 27 EU member countries. Portugal's route to citizenship through the golden visa program has major advantages compared to other countries with a golden visa offer. The five-year residency period required for citizenship eligibility remains the most efficient among other golden visa countries, particularly when compared to those requiring ten years or more of continuous residency with significant physical presence requirements. Portugal's stay requirements are notably manageable, requiring you spend just: Seven days in the first year Fourteen days in each subsequent two-year period Flexibility in how these days are distributed over the five-year period before permanent residency and/or citizenship eligibility Demonstrating basic Portuguese communication ability, investors must meet mandatory A2 level language requirements for citizenship. Again, this requirement is far more favorable than the language proficiency, history knowledge, and cultural integration required for European citizenship in other golden visa host countries. The total duration from initial golden visa application to Portuguese citizenship is relatively short. Because one's residency and naturalization clock starts when the application is submitted to AIMA, successful applicants can typically complete the entire process within six years, accounting for: Initial application processing Five-year residency period Citizenship application processing The program's flexible investment structure accommodations and robust due diligence standards have made it the world's most popular golden visa program. But of course, these are just the tangible benefits of investing in Portugal. Safety, quality of life, a world class food and wine scene, Mediterranean lifestyle, connectivity to airports around the world, and so many other features of life in Portugal make it a highly appealing place for investors and families alike. What to Look for in Residency by Investment Evaluating golden visa programs requires careful consideration of financial, mobility, and tax implications, as well as the intangible benefits just mentioned. Financial Requirements and Investment Analysis First, evaluate your investment portfolio. Only then can you determine which residency program best fits your diversification and family needs. Start with each golden visa program's minimum investment thresholds. Do you prefer to make a fund investment, property investment, government bond purchase, or non-refundable contribution? Depending on your investment profile, some European golden visa programs will meet your goals and others will not. How long must you hold the qualifying investment? Can you sell your property or investment after just five years or must you hold it for at least a decade? What can you predict in terms of potential return on investment? When compared to their alternatives, Portugal's requirements for residency by investment are quite flexible. And if you choose to invest in Bitizenship's Bitcoin company investment fund, accelerating institutional adoption of cryptocurrency suggests significant growth potential. Mobility Benefits Are you investing in a foreign residency permit to gain visa-free travel advantages? Successful applicants of Portugal's golden visa enjoy: Free movement within the EU Schengen zone Physical presence requirements of just 7 days/year Access to 180+ countries through eventual Portuguese citizenship Residency rights (i.e. labor, residency, and education privileges) in all 27 EU countries with citizenship in Portugal This mobility framework provides significant advantages for global investors, particularly those from jurisdictions with limited visa-free access. This is why hundreds of investors have chosen Portugal over quicker routes to citizenship in the Caribbean or elsewhere. The ability to maintain multiple residencies while pursuing potential EU citizenship represents a valuable strategic asset for high net worth individuals managing international interests. Tax Considerations Portugal's tax framework offers notable advantages for golden visa holders. While investors must consider tax implications only if they plan on spending more than six months a year and becoming a tax resident in the country, they're worth mentioning – especially if your tax situation is not optimal. The recently introduced NHR 2.0 regime, while modified from its predecessor, will provide further tax optimization opportunities for new residents. Of particular interest to Bitcoin investors, Portugal does not tax capital gains on cryptocurrency holdings maintained for more than one year. This tax environment, combined with the program's minimal physical presence requirements, enables strategic tax planning. Golden visa holders can optimize their global tax position without compromising their path to permanent residency or potential citizenship. Family and Lifestyle Considerations Of course, a significant investment must take into consideration your family and their future. Portugal's golden visa program extends comprehensive benefits beyond the primary investor to encompass family members. This multi-generational planning capability represents a significant advantage for high net worth individuals considering a long-term strategy. The minimal physical presence requirements - averaging just seven days annually - allow for flexible lifestyle management while maintaining golden visa status. Successful applicants gain access to Portugal's highly-ranked quality of life, healthcare system, and both public and private educational institutions. Program Stability and Outlook Legislative Framework Having been established in 2012, the program's legislative framework is resilient. Portugal's golden visa is the most popular in the world. Despite, changing market conditions and demands from European parliament since its inception, it's remained a major player in EU investment migration. Going forward, expect investment options to adjust to investor preferences, business opportunities, and local needs. Political Support Anchored in the program's economic benefits and alignment with national objectives, political support for the Portuguese golden visa is robust. Unlike programs facing domestic political challenges (like Spain's golden visa), Portugal's program enjoys broad support across the political spectrum. Market Sustainability The evolution away from pure real estate investment toward more innovative projects like Bitcoin ecosystem funds and venture capital funds focused on green energy and sustainability has enhanced the program's economic impact. This diversification of and flexibility in qualifying investment options strengthens the program's long-term viability. Future Outlook The ongoing European Court of Justice deliberations regarding Malta's citizenship by investment program reinforce Portugal's residency program. Genuine residency requirements and substantial economic contribution aligns with European regulatory frameworks. As the ECJ ruling reshapes the European investment migration landscape, programs that demonstrate compliance and economic benefit, like Portugal's, will emerge stronger. Next Steps The best European golden visa program depends on your unique circumstances and goals. But Portugal's golden visa demonstrates advantages across many criteria important for high net worth individuals with the intent of obtaining citizenship in Europe. The combination of flexible investment options, efficient processing, and a clear path to citizenship positions Portugal's program favorably against its European alternatives. To learn more about qualifying investment opportunities through Bitizenship's fund and start your golden visa application, visit bitizenship.com.

17 MIN READ

04 Feb 2025

Why Portugal is the Obvious Choice Among European Golden Visas

Citizenship This is the Ultimate Passport Portfolio You Didn’t Know You Needed Having one passport isn't enough anymore. With a single citizenship, you're tied to the whim of a single government. Billionaire and former Google CEO Eric Schmidt gets it. He's been vocal about the importance of having multiple citizenships in today's world, so he got Cypriot citizenship by investment before the program ended a few years ago. But here's what most people miss: It's not just about having a second passport. It's about building the right passport portfolio that achieves your goals and covers all your bases. If you're a high net worth individual, you need a strategic approach to global mobility. We've helped countless wealthy individuals secure citizenship across different countries, and I'm going to show you exactly what the ultimate passport portfolio looks like in 2025. But First, Why Is a Passport Portfolio Important? The world isn't getting any more stable: Government crackdowns on cryptocurrency and free speech are increasing. Political uncertainty and division is ripping apart our social fabric. Information sharing between countries is at an all-time high. Wealth and exit tax targeting wealthy individuals are normalized. Here's what's really happening: Governments are tightening their grip. And the days of easy global mobility are ending. But a well-structured passport portfolio might just be the solution. But what is a passport portfolio? Well, picture it like this: The reason so many business leaders care about the political, financial, and economic climate in their country is because their whole life is tied to that country. They work there. They earn there. They are educated there. They bank there. They invest there. Their whole past, present, and future are tied to the success of that nation on the global stage. But if a wealthy individual obtains a second passport, their options suddenly explode: They can live, study, work, bank, invest, and access healthcare in two nations and any regional unions (example: the European Union) those two countries are members of. Millionaire migration is at an all-time high. It's no wonder why when the benefits are so great: Dual citizenship opens the door to investment opportunities in developed and emerging markets while giving you the freedom to work, live, bank, and study anywhere. And wealthy people don't just seek out a second passport. They want to build comprehensive citizenship strategies. And they're right to do so. So, a well-structured passport portfolio should, in theory, give you unfettered access to: Global entrepreneurial opportunities Tax optimization options Safe havens for your family Visa-free access to all the countries you wish Investment opportunities in emerging markets The ability to work and live in new countries Protection against political uncertainty Educational opportunities for your children Healthcare access across many countries Now, let's break it down. What are the components of a powerful passport portfolio? The Four Pillars of the Perfect Passport Portfolio 1. EU Base A passport portfolio should be designed to maximize your options to travel visa-free, live, work, study, bank, invest, and get quality healthcare. Citizenship in the EU does not just give you that access in the country of your citizenship. You get those rights in all members of the EU. So, in summary, citizenship in an EU country means near-full citizenship rights in 27 countries. That optionality is powerful and why we include EU citizenship as a main pillar in the perfect passport portfolio. But of 27 EU member states, which citizenship should you get and how can you get it? Portugal offers a route no other country can match. Through the Portuguese golden visa and Bitizenship, you can invest in companies in the Web3 space while obtaining residency in the Iberian country. Then, after just five years of maintaining your investment and visa (i.e. visiting the country for seven days a year), you qualify for citizenship and the Portugal passport with visa-free access to more than 180 countries around the world. Here's how to do it: Invest €500,000 in the Bitizenship fund (or lesser amounts if you prefer a donation route) Include your entire family in the residency application Meet minimal physical presence requirements (just seven days per year) Apply to citizenship in five years Key Factors That Separate the Portugal Golden Visa from Alternatives What sets Portugal apart is its remarkable stability within the European Union. As one of Europe's safest countries, it offers world-class healthcare, strong visa-free travel, one of the world's highest qualities of life, progressive crypto regulations and tax policies, and a tech-friendly ecosystem. Plus, the Mediterranean climate, widespread English usage, and outstanding education system make for an easy transition for global citizens. 2. North American/Latin American Anchor If you don't already have some allocation in the Americas depending on your home country, it's time to diversify there. With more millionaires and a larger economy than anywhere else – no matter the trend of the West –, North America commands most of the world's financial and economic attention. But as one of the fastest growing regions of the world, Latin America could be the icing on the cake (or extra passport in passport portfolios). But these are two large, diverse regions, so let's break them down. North American Passports While a US passport means you're liable for citizenship-based taxation, Canadian and Mexican citizenship do not. Plus, they offer almost as much visa-free access around the world as the American passport does. So while you can invest and bank in the United States, you do not necessarily need a US passport, which would open you up to taxes for the rest of your life, especially if you're a high-net-worth individual. While many wealthy Americans seek a Plan B and options abroad, having an additional passport in North or South America could be beneficial. The trick is choosing the right program based on various country factors like: Processing times Minimum investment requirements Necessary physical presence Tax implications Business environment Economic and political stability Banking infrastructure Mexico offers easy residency qualifications via real estate purchase or proof of economic solvency and a path to citizenship in just five years. An investor and his partners can open a business in Canada and get Canadian passports in even less than five years. Central and South America Passports South America is one of the most friendly regions for fast paths to citizenship and tax regulation. Uruguay, Chile, and Paraguay all have advantageous tax schema and relatively quick residency programs and citizenship options. https://twitter.com/0x_ale/status/1844409391589753271 As I covered in the X thread above, Uruguay offers new residents an attractive tax scheme, where they can choose a 0% tax on foreign income for 11 years or a flat tax of 7% on global income for life. Known as the "Switzerland of South America," Uruguay is famous for its stability, low crime rates, and strong banking privacy. Plus, new residents can pad their passport portfolios by acquiring citizenship in just 3-5 years. Chile and Panama are similar in the relative size and strength of their economies and business environments. Both offer various investment programs and strong passports, which are notoriously difficult to obtain for foreigners. Depending on your risk profile and investment outlook, other countries in Central America that may check your proverbial boxes are Costa Rica, Panama, and El Salvador – all territorial tax systems with various residency programs and pathways to become a citizen (the latter even has a direct citizenship by investment program). If you're looking for a hideout in the event of World War III or a country with lower cost of living and lack of regulations, Latin America may be a preferable region. 3. Southeast Asian or Middle Eastern Hub Asia's rising economic importance makes it a necessary component of any serious passport portfolio. Countries such as popular destinations Malaysia, Singapore, and Hong Kong offer: Explosive economic growth Strategic business presence in Asia Additional visa-free travel options (Singapore has the best passport in the world, says Henley & Partners) Investment opportunities in growing markets Alternative residences for domicile diversification Strong banking systems Wealth and financial management centers The key to your position in the Asian Century (as Ray Dalio calls it) is capturing arbitrage and opportunities in its emerging technology, strong banking systems, and growing financial hubs. These jurisdictions offer not just residence options, but gateways to the world's most dynamic economic region. It's difficult to get a secondary passport in this region. In some countries, dual citizenship is not permitted, meaning you'd have to renounce your original citizenships in order to qualify in their country. Or a passport is deemed a right only for those born in the country. Therefore, the transition from resident to citizen is rare. But you do have the opportunity to get citizenship by investment in Cambodia, residency then naturalization in the Philippines (which permits dual nationality), or just residency in Singapore, Hong Kong, and Malaysia through various investment programs. I get it – Because of the lack of citizenship programs, getting passports in Southeast Asia can be difficult. A good substitute for this region in your passport portfolio would be the Middle East. Egypt, Turkey, and Jordan all over citizenship by investment opportunities. Plus, the region is appealing for its generally tax-friendly environments (read: United Arab Emirates and its free zones). https://twitter.com/0x_ale/status/1851316697233268867 4. The Strategic Wild Card This is where things get interesting. Your wild card choice should focus on emerging markets with significant growth potential. I covered this in a video about El Salvador, Portugal, and Argentina recently. https://www.youtube.com/watch?v=aixkuQ_MCbM Look for jurisdictions rich in natural resources, developing infrastructure, and rising economic and political influence. The ideal wild card passports should unlock access to untapped markets and benefits for your whole family while requiring little of your time and/or financial resources that other passports in your portfolio can't provide. Basically, this is where you take a calculated risk for massive future rewards. Think emerging markets with: Natural resources Growing economy and wealth Investment programs with reasonable minimum investments Potential for significant return on citizenship investment Future strategic importance Net inflow of foreign investment Growing visa-free travel Developing infrastructure and government Improving safety marks Rising regional influence Untapped real estate market These are all key factors to becoming the next Dubai, the future Singapore, or the Hong Kong of 50 years from now. Invest there now and your passport portfolio will thank you later. The Bottom Line Rising global instability, social division, political strife, and geopolitical conflict – The world is full of risk. Having supplementary passports isn't just smart: It's necessary. The perfect passport portfolio combines: A strong European base (namely, Portugal's golden visa) Access to the Americas Presence in Southeast Asia or the Middle East Strategic wild card Even just two passports massively expand your global access and mobility, banking, investment, and residential options. They're not just for filling travel gaps. This is about you and your family's security and safety. In uncertain times, that's a unique advantage high-net-worth individuals can't afford to ignore. Build the EU Base of Your Passport Portfolio Ready to start building your passport portfolio? Let's talk about how Bitizenship can be your gateway to EU citizenship. Because in 2025, the question isn't whether you need multiple citizenships – it's how quickly you can build your portfolio. The best time to build your passport portfolio was yesterday. The second best time is now. Don't wait until you need options to start creating them. Start your path to become a global citizen now.

10 MIN READ

02 Dec 2024

This is the Ultimate Passport Portfolio You Didn’t Know You Needed

Citizenship Dual Citizens Like Elon Musk and Peter Thiel Rule the World: Why and How to Get Dual Citizenship The following international business magnates and multi-billionaires are all dual citizens: Elon Musk – Canada, South Africa, and US citizen Roger Ver – Antigua and St. Kitts and Nevis citizen Peter Thiel – Germany, New Zealand, Malta, and U.S citizen George Soros – U.S and Hungary citizen Sir James Dyson – United Kingdom and Singapore citizen But why? Why have these entrepreneurs invested their time, money, and effort to obtain dual citizenship and a second passport? The short answer is – Global mobility is a prized asset, and wealth protection is increasingly difficult. So, a second citizenship is more than just a smart, forward-thinking investment. Dual citizenship gives you optionality and freedom in a world that demonizes it. In the next few minutes, I'll break down what dual citizenship is, why it’s worth the "hassle," and how people worldwide – from US naturalized citizens to those from emerging countries – are securing their future. The dual citizenship process isn’t always easy. But neither is building a million-dollar crypto portfolio or creating a billion-dollar business, right? Yet, here we are. What Are Second Citizenship, Alternative Citizenship, and Dual Citizenship? All these terms mean the same thing. In simple terms, dual citizenship is your legal right (in most cases) to hold citizenship in two countries or more. Why would someone want dual citizenship or even multiple citizenships? With citizenship rights in each country, you enjoy exactly that – all the rights, benefits, and also, the obligations of citizens in each country you have citizenship. In practice, this could mean holding Filipino citizens holding a Canadian passport at the same time. Or, a U.S. citizen with dual citizenship in Portugal. Thus, those individuals enjoy all the rights afforded to them by the nationality or nationalities that they hold. For billions, the nationality donned upon them when they were born may be restrictive on their global rights. Let's use a contemporary example: By no fault of their own, Russian citizens – no matter where they live – face restrictions worldwide. Some countries have restricted Russian citizens from opening bank accounts or even outright banned Russian citizens from entering their country. If those same Russian citizens obtain dual citizenship in a foreign country like St. Kitts and Nevis, they may regain a lot of the global investment rights and travel freedoms they once had. Dual citizenship isn't just about the travel perks. Picture it: Two passports, two sets of rights, two “homes” you can claim. You’re not bound by the political and economic policies of just one government. Sounds liberating, right? But, not all countries recognize dual citizenship. Some nations, like Japan, frown upon it and may even strip you of your original citizenship if you want to become a citizen of their country. Others like Spain have recognized dual citizenship only in former colonies (e.g. Colombia and Argentina). On the flip side, countries like both the United States and Canada not only recognize dual nationality but also encourage it, welcoming those who diversify their options. Just one nationality is, therefore, a constraint. A passport portfolio gives you multiple options when you need them most. Is Dual Citizenship Worth the Hassle? Now, you're probably thinking: Is it really worth the time, money, and paperwork to become a dual national? Absolutely. Here's why (then I'll explain in 5 ways, how to get dual citizenship). Travel Freedom Dual citizenship can unlock a new level of personal freedom with two levers of visa-free access. With a second passport, the world suddenly opens up for you. If you play your cards right, your visa-free travel freedom with two passports should expand significantly. No more lengthy visa applications, no more restrictive travel bans. Just the freedom to move and conduct business as you please. Here's an example: You're a US citizen. Therefore, based solely on your U.S. citizenship, you have pretty good travel rights around the world. However, you still have citizenship-based taxation and no residency rights in other countries. And your global citizenship and immigration services are not as extensive as some make them out to be. With dual citizenship from a European country like Portugal, not only do you get visa-free access to more countries like Russia, Belarus, Venezuela, and Bolivia, but you also gain the right to live, work, and study anywhere within the EU. Because of these additional benefits, a passport from a European Union member state is like 27 different passports in your backpocket. Or, by decree of just a birth certificate in the developing world, many are not born with the same rights and privileges as we are. Take, for example, Indian citizens. With the original citizenship of their native country, they have visa-free access to only 73 countries, compared to the US citizenship, which affords visa-free travel to 172 countries. But, of course, it’s not just about where you can travel. It's about where you can live. Plan B and Risk Minimization A second citizenship is the ultimate Plan B. If your “home country” becomes politically unstable, geopolitically risky, or economically unviable, dual citizens have another country to which to escape. For investors and entrepreneurs, this freedom is invaluable. At the drop of a hat, you can operate in a more favorable environment, away from overreaching regulations, punitive tax policies, or even war. In an unpredictable world, dual nationality is your insurance policy against political and economic turbulence. For instance, during the 2020 global pandemic, millions of Canadian citizens suffered. Those who disagreed with their government had their bank accounts closed, their assets frozen, and their borders shut. But, but those with Canadian citizenship and citizenship in another country had more options. While others were stuck within their borders, they had the opportunity to relocate and access a better life. Dual nationality is about securing your assets, too. Let’s say you’re a US citizen exploring residency by investment in a foreign country. Obtaining dual citizenship through a golden visa investment in Portugal, for example, grants you access to another jurisdiction, citizenship in just five years, potentially lower tax rates, and investment privileges in a whole other country and continent. Just as it's wise to minimize your financial risk by diversifying your portfolio, you should also minimize your geopolitical risk by diversifying your identity and nationality geographically. Economic Diversification Speaking of diversification, dual citizenship can broaden your economic prospects too. Each country in which you have citizenship has its own set of rules, investment opportunities, and tax advantages. Therefore, with more citizenship rights in your portfolio, you also have access to more business opportunities and financial privileges only citizens of those territories have. Why limit yourself to just one? For instance, consider natural-born Filipinos who obtain a second passport in a country like St. Kitts and Nevis. With their new immigration status, they can suddenly invest in real estate in the Caribbean, open a bank account, and even start a business without the usual red tape and security clearance a foreign person would face. Having two nationalities lets you access markets and investment opportunities that may have been off-limits with just one nationality. Why bet on just one government (and their rule of law) and put all your eggs in one basket when you can spread your metaphorical eggs across multiple jurisdictions? Optimizing Tax Obligations Tax is probably the first thing you either think or worry about when you hear “dual citizenship" – and for good reason. Tax obligations can get complicated when you pledge allegiance to one country and become a citizen of another country. However, smart planning can turn dual nationality into a significant tax advantage. That is, unless you hold US citizenship, which requires you file a tax return (not necessarily owe taxes) in the United States no matter where you live in the world. Some countries have double taxation treaties, designed to prevent you from being taxed on the same income in both places. For instance, the United States has agreements with many governments to avoid double taxation for its citizens abroad. Meanwhile, countries like Portugal have a favorable tax regime for crypto investors (i.e. zero capital gains tax on crypto holdings of more than one year), making it attractive for those looking to optimize their personal situation. Or, consider St. Kitts and Nevis, which has zero personal income tax and zero capital gains tax. On a normal tourist visa, you cannot live in the country for more than six months a year and, therefore, cannot establish tax residency in the country. So, if you invest in citizenship in the Caribbean island country, you can access their tax benefits. It’s all about understanding your current tax and immigration status, the rules of other countries, and finding the best path to minimize your tax burden while maximizing your wealth. How Do You Acquire Dual Citizenship in Another Country? How does one actually go about obtaining dual citizenship in two countries or more? Good news – There are several ways to acquire another citizenship. Here are some of the five most common methods: Normal Naturalization This is the traditional path to citizenship of which you're most likely aware. Most jurisdictions require a prospective citizen to spend a certain amount of time in the country to acquire citizenship. Each country will have its own eligibility requirements, often involving residency, language proficiency, and passing a citizenship test. So, do your own research. While this route requires a longer-term commitment, it’s ideal for those who wish to integrate fully into a new country, create ties with that territory, and reap the benefits of dual citizenship. Consider Canada, where one may not qualify immediately for citizenship by investing in the country or donating to the government. Prospective nationals must first become permanent residents in Canada, then spend at least three years in the country to qualify for naturalization and a Canadian passport. Residency by Investment and Naturalization Similar to straightforward naturalization, many countries offer residency by investment programs (i.e. golden visas). Through these programs, third country nationals have to invest in the country to qualify for temporary or permanent residency. Then, they must meet the stay requirements to qualify for naturalization. Via Portugal's golden visa program, you have to invest at least €500,000 in a local business, scientific research, or investment funds. Then, to qualify for citizenship in Portugal and residency rights in the European Union, you must spend on average at least seven days a year in the country for five years, renew your visa when necessary, and maintain your original investment. In most cases, I'd recommend consulting an immigration attorney to make sure you complete all requirements laid out by the local government's citizenship and immigration services and the citizenship application. Birth Tourism and Dual Citizenship by Birth Not all countries practice the same naturalization law either. When it comes to citizenship at birth, a country may deploy either jus soli (also known as birthright citizenship) or jus sanguinis law. The former means that a child born in the legal territory of the country automatically qualifies for citizenship, regardless of the parents' nationality. For instance, even if their parents do not hold US citizenship, a child born in the United States is an automatic U.S citizen. Similarly, any child born in Canada will be eligible for Canadian citizenship. As you can see in the map below, most jurisdictions in the Americas have few constraints when it comes to birthright citizenship. In the case of Argentina, Brazil, and a few other countries, if two non-citizen parents have a child born in a country that practices jus soli law, the parents of the child may also qualify for citizenship after a short period of residency. This is one of the simplest ways to secure dual citizenship in another country, especially for those with internationally mobile lifestyles. Dual Citizenship by Descent On the other hand, a government that exercises jus sanguinis law grants citizenship based on blood and descent. Most governments in the European Union practice citizenship by descent, whereas you can become a dual citizen by rights of your ancestors up to four generations in the past. Dual Citizenship by Investment A popular route among high-net-worth individuals, citizenship by investment allows you to obtain citizenship and a legal passport in exchange for a non-refundable contribution to, investment bond purchase, business capital infusion, or real estate acquisition in a country. Malta, Turkey, and several Caribbean island jurisdictions offer such programs. Roger Ver, an early Bitcoin investor known colloquially as Bitcoin Jesus, first invested in citizenship in the Caribbean in 2014 before renouncing his American citizenship. Then, in 2020, he purchased citizenship in Antigua & Barbuda to further diversify his portfolio, which just a decade ago, looked completely different. Dual Citizenship by Marriage Marrying a citizen of another country, depending on the nation’s laws, is another way to acquire dual citizenship. Some countries make this pathway relatively straightforward, while others have more stringent requirements, such as proof of a legitimate relationship or residency obligations. Dual Citizenship by Exception Although the cases are rare, most governments worldwide grant citizenship to individuals who contribute massive contributions to their economies or population. This could be through sports, science, business, or other fields. Although he didn't meet any residency requirements, Peter Thiel was granted citizenship in New Zealand for this reason. While not a common route, it's worth mentioning as another option for those with unique societal achievements. Things to Consider Before Getting Dual Citizenship Before investing time or money in the process, you should weigh all the potential consequences – positive and negative – of dual citizenship. Recognized Dual Citizenship Remember – Not every country recognizes dual citizenship. Some may require you to renounce your original citizenship before obtaining dual nationality there. So, before you prove the lineage of your ancestors in another country (which is often all it requires to be eligible for citizenship by descent), invest in a foreign country, or marry someone from a third-party jurisdiction, make sure you can hold citizenship there and in your native country. Restrictions apply. Tax Implications Tax obligations can get complicated when you’re a dual citizen. You might be subject to tax in both countries, depending on each nation's laws. For example, regardless of where they live, a US citizen and green card holder (i.e. permanent residents) must pay US tax on worldwide income. So, do not expect to get off scot-free with the IRS just because you're a citizen of another country and don't spend any time in America. On the contrary, most other governments practice residency-based taxation, meaning that if you live there for more than six months a year or establish strong economic ties there (e.g. property, family, memberships, etc.), you may be on the hook for taxes there as well. It's possible for Canadian citizens to acquire citizenship in an other country with favorable tax laws, spend fewer than six months in Canada, cut economic ties with the country, and never pay tax again. Legal and Political Rights Becoming a dual citizen means you’ll be subject to the legal systems of both countries. This can be both a positive or negative consequence, depending on the favorability of the laws in the countries where you hold citizenship and nationality. Upon swearing allegiance to both countries, this could include military service obligations, jury duty, tax obligations, voting rights, or other civic responsibilities. Dual citizenship could be your route to more secure and diversified freedom. More economic opportunities, reduction of tax burden, more travel rights – holding dual nationality can offer unparalleled advantages in 2025. Build a world where you're not reliant on a single government – rather where you increase your optionality to invest, travel, live, work, and study wherever you want. This world could be yours with two or more passports.

14 MIN READ

13 Nov 2024

Dual Citizens Like Elon Musk and Peter Thiel Rule the World: Why and How to Get Dual Citizenship

Residency 7 Reasons Singapore Is the Greatest Civilization in Southeast Asia Thanks to technology and globalization, the world is rapidly shrinking. And for the same reasons, you now have access to new markets, new business opportunities, and new investment options that just 50 years ago, didn't exist. This is where the story of Singapore, the Lion City, begins. Singapore exemplifies how visionary leadership and pro-business policies can create explosive and consistent economic growth. So, how did this sleepy port at the southern tip of Asia transform itself into an ultra-safe city-state worthy of global recognition and economic prowess (and the incorporation of Bitizenship)? The Rise of Singapore When you think about Singapore today, images of towering skyscrapers, busy city streets, high-stakes Asia business meetings, and the iconic Marina Bay Sands probably come to mind. But Singapore didn't always look like this. Just 50 years ago, Singapore was an industrious fishing village. Separated from Malaysia and left with few natural resources, Singapore's future looked uncertain in 1965. Enter Lee Kuan Yew, the country's first prime minister and the mastermind behind its transformation. Serving at the country's helm from 1959 to 1990, Yew is credited with the tremendous development in Singapore GDP – from US$974 million in 1965 to US$501 billion in 2023, a generous 51,337% increase. In a shocking turn of events, Singapore's nominal per capita GDP now more than doubles that of the European Union. The state of the Singapore economy is strong. Lee Kuan Yew had a vision to turn a main island city at the southern tip of Asia into a thriving metropolis with a strong currency – the Singapore dollar. Facing land constraints, the republic started with an ambitious land reclamation project, expanding the city by establishing more land in the sea. Today, land reclamation alone has increased Singapore's physical area by more than 20%, a testament to Yew's approach to natural limitations. As the city has rapidly developed and housed a growing population, this expansion has been a critical investment. Singapore's Economic Development Under Lee Kuan Yew's leadership, the People's Action Party (PAP) focused on economic development like a laser beam. They knew that without many natural resources, Singapore had to become a hub for trade, finance, and professional services. Yew's ruling party implemented policies that attracted foreign investment and encouraged multinational corporations to set up shop. For example, Jurong Island was created through the combination of several small islands. Attracting foreign investment from fossil fuels giants like Shell and ExxonMobil and fueling (literally) the local economy, it's now become a regional petrochemical hub. Yew knew, however, that Singapore could not grow without an injection of particular skills and expertise that the local population could not provide alone. So, the government increased immigration to the island city and welcomed hundreds of thousands of Chinese foreign workers to supplement the local workforce. Today, more than half of Singapore's workforce comprises foreign workers and expatriates, who contribute significantly to its local economy and GDP. This influx allowed Singapore quick ascension and transformation into one of the world's most prosperous nations within a few decades. Even today, the Singapore government maintains a delicate balance between economic growth and social development, ensuring that the public and private industries' benefits trickle down to the population. But what's made Singapore so successful in my eyes is its aggressively pro-business public policy. Reason #1 – A Pro-Business Government Mentality One of the secrets to Singapore's success is its alignment of public policy with the needs of its private industry and local population. Lee Kuan Yew and subsequent leaders understood that for the country to thrive, they needed to create an environment where businesses could flourish. First, Singapore revolutionized their now-top-ranked education system. At its core, the meritocratic system teaches that if you work hard, you will succeed. And, the local economy will boom as a result. In fact, the current Singapore prime minister Lee Hsien Loong is a Cambridge-educated mathematician. Second, Singapore offers a competitive tax environment, with low corporate tax rates and countless incentives for both startups and multinational companies. Singapore has no capital gains tax and no tax on foreign-sourced income. Ensuring that high-quality amenities match the high cost of living in Singapore, the government also heavily invests tax revenues in infrastructure and social services. Third, the prime minister and his cabinet work closely with local and international businesses to make sure their policies remain relevant, effective, and helpful. They cooperate to build trust between the government and private sector, which, having done business in several continents, I can say is lacking in most other countries. This carefully-crafted business environment has ranked Singapore second in the world for ease of business. Reason #2 – Singapore's Crypto-Friendly Stance In recent years, Singapore has positioned itself as a crypto-friendly nation, embracing blockchain technology and digital currencies. Because of favourable tax incentives, a friendly business environment, and a government supportive of the industry, multiple crypto and Bitcoin companies now call Singapore home. The Monetary Authority of Singapore (MAS) has established a clear, straightforward framework for crypto businesses to operate, attracting tech entrepreneurs from around the world. In fact, all crypto or Bitcoin capital gains are exempt from personal and corporate income tax. Evidently, Singapore's approach contrasts with the skepticism seen in other parts of the world – namely, Europe. By providing clarity and support, the republic government is tapping into a growing industry that many (including me!) believe is the future of finance. This forward-thinking approach aligns with everything else Singapore is doing to embrace the trend of innovation and technology. Reason #3 – Strict Laws But High Rewards Ask a street passerby their opinion of Singapore, and they'll likely respond with a variation of "What is Singapore?" and "Isn't Singapore that country in Southeast Asia with the strict rule of law?" Singapore is known for its strict laws. While that fact might raise some eyebrows of the freedom-seeking entrepreneurs and investors who read this piece, it's part of what makes the city-state so attractive. Let me explain. The clear, structured legal framework in Singapore ensures stability, safety, and predictability – crucial success factors for businesses and individuals making long-term plans. Lee Kuan Yew believed that order was essential for Singapore's success. With low crime rates, a highly efficient government apparatus, top-ranked passport, and the safest city in the world, Singapore's approach clearly paid off. The judiciary, including the Supreme Court and the Chief Justice, maintains the rule of law, which makes Singapore a predictable environment for foreign investors. Yes, the cost of living is high, but so is the quality of life. Exceptional services, from world-class healthcare to top-ranked education, make it worth every Singapore dollar – Singapore's national currency. Reason #4 – Education and Innovation as Pillars Lee Kuan Yew believes strongly in the ancient proverb, "The wealth of a nation lies in its people." So, from 1965 until today, Singapore has made education a cornerstone of their development strategy and national ethos. In 2024, the education system in Singapore ranks among the best in the world, instilling in its population a culture of excellence from a young age. Why? Well, Singapore aims to transform into the world's first "Smart Nation." From AI to climate change to cryptocurrency to biotech, Singapore is investing in industries of the future, ensuring that it stays ahead of each global trend. Singapore's commitment to education and innovation is not just about economic gains. Supported by the Singapore parliamentary majority and opposition parties, their values are about preparing Singaporeans for the monumental culture shifts and challenges of the future. And, with a population median age of about 42 years, Singapore has a dynamic and energetic society ready to face them. Right when you arrive at Singapore's international airport, you're greeted with some of the most awesome sights you'll ever witness in a country: Singapore is the fourth largest financial center in the world (200+ banks and 64 of Asia's top 100 companies are headquartered here) Tuas Mega Port will be the world's largest fully-automated terminal in 2040 40% of land is green space These developments are testaments to the Smart Nation government initiatives coexisting with pre-existing cultural sites. Reason #5 – The Melting Pot of Ethnic Groups 74.3% Chinese, 13.5% Malay, 9% Indian, 3.2% other. This is how the Singapore population breaks down demographically. With four official languages (English, Mandarin, Malay, and Tamil), Singapore is a melting pot of several cultures, a community where many ethnic groups coexist harmoniously. These differences aren't just tolerated but celebrated. Even through public policy, the Singapore government promotes social harmony and multiculturalism, ensuring that every group has a voice. The national anthem "Majulah Singapura" (Onward Singapore) furthers this unity. This melting pot of cultures also makes Singapore a culinary paradise. Just walk down Orchard Road and smell all the different cuisines emanating from the skyscrapers and street markets. Reason #6 – Highly Efficient Health System Singapore welcomes 500,000 visitors a year for medical tourism. Even foreign leaders like Zimbabwe's former president Robert Mugabe choose to visit the main island city of Singapore for their medical treatments versus closer destinations in the EU like Germany or France or in Asia like China or neighboring Malaysia. Life expectancy on the island city-state of Singapore is 83.9 years, whereas in the United States, it's just 78.5 years. This data is testament to Singapore's ranking as the world's top destination for medical efficiency. Not just is the quality of care excellent. But the cost of healthcare in Singapore is substantially lower than in other, less efficient states like Australia, New Zealand, or the United States. Reason #7 – Military Strength and Regional Influence The parliamentary republic of Singapore also boasts a highly capable military, despite its size and position in South Asia. The Singapore Armed Forces (SAF) play a role in protecting national security, regional stability, and Singaporeans abroad. Mandatory national service ensures that military personnel and the armed forces are invested in the country's defense and success. In terms of foreign affairs, Singapore maintains strong relationships with neighboring countries like Malaysia and Indonesia, as well as global powers like the United States and China. You'll notice that the latter are not particularly friendly with one another. So, Singapore attempts to maintain diplomacy amid an increasingly hostile environment in the South China Sea. This strategic diplomacy furthers Singapore's influence beyond its borders, allowing it to punch above its weight on the international stage. Other Nations Poised for Similar Growth Singaporeans believe their country is an example for many more to come. I agree. From just an island off the coast of Malaysia to a global economy and Asia powerhouse, Singapore offers lots of valuable lessons for other nations, not just in Southeast Asia but other parts of the world as well. By duplicating many of their policies, special economic zones and countries like the United Arab Emirates and Indonesia are showing promising signs. Singapore showed that you can attract foreign investment and focus on economic development while also prioritizing your people and keeping taxes low. Singapore joined global giants in Asia, such as the Japanese, in the EU, and in North America by breaking boundaries and offering services and incentives no other government dared to offer. Despite their land constraints and their small population, more than half of Singaporeans earn $50,000 or more per year. In Europe, nations like Estonia are embracing digital transformation and pro-business policies. In Africa, countries like Rwanda are making strides in economic growth and technological adoption. All with Lee Kuan Yew's successful policies in tow, leadership at the forefront, and consistent economic growth as the goal. Singapore's model for education, public services, employment, industry, and resources despite land constraints will serve civilizations – and the world – for centuries to come. The Strategic Advantage of Second Citizenship So, what does all this have to do with second citizenship? Well, in a world where geopolitical and financial risk are becoming second nature, a second passport up your sleeve is an increasingly important asset to have. Dual citizenship grants you access to new markets; more investment, education, and employment opportunities; immigration options; increased financial security; and even a backup plan in case things go downhill in your native country. Countries like Singapore offer attractive options for second citizenship and major return on investment. And, we've evaluated a few of those opportunities in El Salvador, Portugal, and Argentina. However, to maintain the value of their citizenship and community, Singapore has chosen to make naturalization very rare. Plus, Singapore does not allow dual citizenship. So, if you were to naturalize as a citizen of Singapore, you'd have to renounce your original citizenship(s). https://twitter.com/0x_ale/status/1845752993854914898 But, one can invest in residency in the city of Singapore via a few different channels. The Global Investor Program (GIP) offers immediate permanent residency and a two-year path to citizenship for those who invest at least US$7.5 million in a Singapore-based company or investment fund. More relevant to the average reader of this piece, the Singapore Entrepass Program allows investors to either invest an unidentified amount of money in a local business (typically more than a few hundred thousand dollars) or receive US$100,000 in new business investment from a government-recognized venture capital firm or angel investor. Or, every year, some 180,000 highly-qualified investors hire themselves in a local business through the Singapore Employment Pass visa and are granted residency in the country. So, while Singapore does make investment migration rather rare in the country, the Lion City still allows tourism and business to be done in its small island city through temporary tourism visas. Singapore's journey from a small island city with land constraints and limited natural resources to a global powerhouse is nothing short of extraordinary. Politicians and leaders around the world have taken note of Lee Kuan Yew's leadership style, government policy, and approach to the economy so as to duplicate its positive examples in their locales. With the right policies and mindset, even the smallest nations can achieve great heights and account for much of a region's growth.

12 MIN READ

06 Nov 2024

7 Reasons Singapore Is the Greatest Civilization in Southeast Asia

Alessandro Palombo

Alessandro Palombo

Co-founder, Bitizenship

Ale is the co-founder of Bitizenship. He cares about the craft of building quality products that make life better for people. He writes about these topics, as well as freedom, wealth, and global mobility, in a newsletter read by thousands of modern citizens.

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