Residency

Articles (02)

7 Reasons Singapore Is the Greatest Civilization in Southeast Asia
Residency7 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

Citizenship Will Be Unrecognizable in 50 Years (And The Sovereign Individual Predicted It)
CitizenshipCitizenship Will Be Unrecognizable in 50 Years (And The Sovereign Individual Predicted It) Published in 1997, The Sovereign Individual outlined a future in which individuals would transcend traditional nation-states. Now, fast forward to today. Your so-called "belonging" in a nation-state has already transformed beyond recognition. For those with foresight, now is the time to prepare for what's to come. So what will citizenship look like in 50 years? How will humans migrate and invest across the world? In this article, I take a stab at both questions and unveil my preparation strategy. https://youtu.be/3oHy6m1U5tk What The Sovereign Individual Got Right (and Wrong) More than 25 years ago in 1997, the authors of The Sovereign Individual William Rees-Mogg and James Dale Davidson predicted a future where technological advancements would dismantle international borders and the traditional relationship between individuals and nation-states. Astonishingly, they were correct about many facets of modern life. The book foresaw the rise of the internet, the creator economy, remote work, cryptocurrency and the blockchain, digital nomadism, and the citizenship by investment industry (CBI), where individuals bypass borders, invest in other countries, and are rewarded with citizenship. In the past, that international lifestyle was accessible only to the wealthiest of high-net-worth individuals. But today, capitalism and technology have afforded those same benefits to the common man, the crypto pioneers, and the digital nomads across the world. A Rwandan tribesman with just an internet connection can compete with the best of the best in New York City. However, Rees-Mogg and Davidson didn't predict the future 100% correctly. In 1997, who would have?! While technology has, of course, empowered millions (if not billions) to live more globally, the power of the state has persisted far longer than they anticipated. The writers foresaw greater autonomy and independence of the individual in the future, but welfare states and federal governments have not ceded as much power as they assumed. Now in 2024, corporations and the wealthy have learned to avoid excessive taxation by relocating across international borders, accessing private crypto technologies to secure their wealth, creating offshore financial strategies, and other means. Governments have responded to this mobility and financial decentralization by strengthening financial regulations, naturalization requirements, banking frameworks, and CBI due diligence. Despite these governments' attempts to coerce the rich, we expect to see shrinking federal tax bases and more aggressive government financial incentives to recruit them. So Rees-Mogg and Davidson’s predictions will come true; it may just take longer than expected. And, in that tension lies opportunity. The Growth of the Citizenship by Investment (CBI) Industry In 1984 St. Kitts & Nevis, a Caribbean island with a population of about 47,000, was the first independent country to offer investors naturalized citizenship for a donation or real estate purchase in their territory. And thus, began the CBI industry. The Sovereign Individual predicted the rise of this CBI industry. As countries recognized the demand for flexible citizenship and migration options, their forward-thinking leaders created programs that allowed motivated individuals to acquire citizenship in exchange for investment in their country and economy. For families facing negative political influence or economic uncertainty in their home country, these programs offered a new kind of security. Another citizenship in one's backpocket is an effective insurance policy to reduce risk, as illustrated by the flag theory. If you were to hold your assets, residence properties, citizenship, bank accounts, businesses, and income streams in different countries, you'd reduce your risk of theft, market downturns, and rogue governments. Think about it. You’d be unstoppable if you had … Citizenship in the United Kingdom and the United Arab Emirates Businesses incorporated in the Cayman Islands and the United States Residency permits in Malaysia and Panama Homes in Argentina and Italy Bank accounts in Hong Kong and Cyprus Blockchain, cryptocurrency, and digital assets – The wealthy now have new ways to guarantee their personal sovereignty. And if their wealth lives in a decentralized system, why should their citizenship be tied to a single state?  Dependence on a single authority for all elements of your life is a death march. The CBI industry has grown rapidly, especially since 2020 when many realized their desire for a Plan B (or Plan A for that matter). However, its limitations are becoming clear. Governments are tightening their rules, and the overbearing influence of organizations like the EU has resulted in higher investment thresholds, overly scrutinized due diligence, and more challenges. Is the shift from citizenship by investment to residence by investment (RBI) underway? The Shift from CBI to RBI If the last decade saw an explosion in the CBI industry, I think the next 50 years will be defined by the residence by investment (RBI) model. Why? Because families and individuals don’t just want the freedom to move – they want the security of belonging without the scrutiny of a CBI case. RBI provides a middle ground – Access to residency with the option to naturalize without all the undue scrutiny of CBI. Plenty of countries around the world offer permanent residence by investment programs. For good reason, Portugal's golden visa is the most popular while the following countries offer their own versions of RBI: Canada Cyprus Greece Malaysia Malta Mexico Panama Spain Thailand United Arab Emirates United States Why Portugal? Portugal has become a hotspot for digital nomads, high-net-worth individuals, and crypto holders looking to secure European residency because of its ... climate; Mediterranean lifestyle; potentially low taxes (especially compared to the rest of Europe); low physical presence requirements (7 days in the first year, then 14 days each subsequent two-year period); right to reside, work, conduct business, and access education and healthcare services across 27 European Union member states; five-year pathway to naturalization; among many other benefits. Through the Portugal golden visa, applicants can choose to invest €500,000 in venture capital or private equity funds or indirectly in bitcoin via the Bitizenship fund, the world’s first Golden Visa Fund focused on Web3 technology. The trend towards RBI reflects a deeper evolution in how families plan for the future. Unlike CBI’s one-time commitment, potential due diligence issues, and upfront costs, RBI provides flexibility and a possible return on your investment without immediate naturalization. CBI was the solution for the last 20 years, but the future lies in flexible residence options that allow families to continue living their lives uninterrupted without attachment to one single place. There’s something Rees-Mogg and Davidson missed. What Will Citizenship Look Like in 50 Years? As the sovereign individual weens off the government, they realize they didn't need it as much as they may have thought they did. I've noticed this. Have you? In a few decades, citizenship of a state will look and feel fundamentally different than it does today. Individuals won't depend on just one citizenship. Instead, individuals will be global citizens. Decentralized citizenship will be mainstream, and they'll carry several passports and wield their influence as such across the world. Citizenship will be more fluid.Citizenship will be less political.Citizenship will help us navigate financial and geopolitical uncertainty. You and I will be an amalgamation of values from the cultures we choose to propagate, rather than only those passed down from our ancestors. This doesn’t mean a loss of values, but rather the emergence of new values. In the future, we’ll see the idea of citizenship undergo a dramatic transformation. I hope this is the case. Emerging technologies, political shifts, and digital assets will change the very fabric of what it means to "belong" to a country. Individuals will carry digital passports, securely and privately stored on the blockchain, allowing them to manage their assets across multiple jurisdictions. Nations will compete for productive citizens, offering incentives like lower taxes, digital services, political influence, and a quality of life that matches their needs. All the while, creating a unique investor profile for the investors they want to recruit. We will adopt a portfolio approach to citizenship, holding multiple residencies and multiple citizenships across multiple regions to reduce risk. A home in Portugal for its EU benefits.A residence in the Caribbean for tax optimization.An Asian base to tap into new business opportunities. Citizenship will be less about allegiance to one state. Citizenship will be more about eliminating dependence on authorities and jurisdictions altogether and choosing to spend time in the places that serve our interests. How to Prepare for the Future of Citizenship So, how can you prepare for a future where citizenship is fluid, mobile, and decentralized? Invest in CBI/RBI Programs — Secure multiple long-term residence permits in stable jurisdictions. For example, invest indirectly in Bitcoin through Portugal's golden visa Bitizenship fund and get residency rights across the European Union. Use Decentralized Technologies — Your citizenship and finances should reflect your independence from the state. So, manage your assets and influence through decentralized financial systems like Bitcoin, cryptocurrency, and other blockchain technologies. Stay Mobile — Flexibility and openness are key. With growing geopolitical and market uncertainty, march into new opportunities with the ability to adapt at any moment. With this approach, you position yourself, your family, and your finances to thrive. The future is bright for those willing to invest in their sovereignty and extend their influence across jurisdictions. In the next 50 years, citizenship will evolve from a static legal identity tied to a single state to a fluid, flexible system. But not for everyone. That depends on you. The state will not make this transition for you. They want your tax revenue. In fact, they'll make flexibility more difficult for you to obtain if you don't act now. Plan wisely.Invest in the right jurisdictions and decentralized assets.Become ungovernable.Become sovereign.

8 MIN READ

09 Oct 2024

Popular Videos (02)

[LAWYER REVEALS] State of the Portugal Golden Visa

Golden visa

November 2024

Understanding Portugal’s Golden Visa Program: Insights from Ana Bruno Law Firm

Tourism

October 2024

FAQ

(3)

Yes, we coordinate with trusted law firms and advisors to streamline the entire process for you.

Visit the official Unbound Fund website for detailed insights into Unbound Fund.

We focus exclusively on Portugal’s program, offering unmatched flexibility and strategic advantages.

View More