1. For the rich people in the world, this is the passport that is most desired

For the rich people in the world, this is the passport that is most desired

The mighty US had to share No. 35 along with tiny Slovenia.

By: | Published: September 17, 2017 11:09 PM
One may argue that a US or UK passport may well be the best-desired one by the rich and famous people in the world. (Reuters)

One may argue that a US or UK passport may well be the best-desired one by the rich and famous people in the world. However, that is not the case. Nomad Capitalist, a Texas-based firm, that helps high-net-worth clients diversify their assets and save taxes has made a list of countries most desired by rich people to live in. As per a report on www.marketwatch.com, the rankings of “Nomad Passport Index” was based on visa-free travel (50% of ranking), taxation (30% of ranking), perception (10% of ranking), the ability to hold dual citizenship (10% of ranking) and overall freedom (10% of ranking). The rankings, which included 199 such countries, placed Sweden at the No 1 spot. Belgium was placed at No. 2 spot, followed by Italy and Spain (sharing No. 3), Ireland, Finland and Germany (sharing No 6), Denmark and Switzerland and Luxembourg (sharing No. 8), followed by France, New Zealand (both at No. 11).

The mighty US had to share No. 35 along with tiny Slovenia. Canada was placed at No 14, while UK and Australia shared No 16. Now you may be wondering that who came last on the list of 199 countries? It was Afghanistan, only beaten by Iraq, Eritrea, Pakistan, Libya, Syria and Yemen (all ranked No. 193). The newsmaker these days, North Korea, was placed at No. 189.

“This index is designed to show the true value of citizenship in each country from the perspective of a high-achieving citizen who wants the freedom to minimize his or her tax obligations, diversify his or her wealth, and travel freely without judgment,” the report says. “We believe that no one should be forced to pay tax by virtue of their citizenship alone,” it adds.

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