Enjoy personal and financial advantages by going offshore.
You do not need to limit yourself to your home country. There are boundless options for investment, creating a business, asset protection, and more waiting beyond the border. Globalizing your life will make it more fruitful, whether financially or personally.
By gaining a second residency, and maybe even a new passport, you can free yourself from the restraints of unfair tax laws and enjoy life without the hassle of being taxed on money that you may not even be making in your home country. For example, jurisdictions like Switzerland, Monaco, Dubai, or Singapore usually preferred for their low tax rates, safety, and investor-friendly environments.
Goldbach Capital is ready to assist you with this opportunity to achieve both personal and financial liberation overseas by investing into new and developing sectors, as well as developed areas of investment which allowing and encouraging you to diversify your portfolio.
Why Get Second Residency?
A second residency comes with many enticing benefits. First, a second residency allows for the opportunity to tap into investments that are not found everywhere, such as inexpensive real estate in thriving markets.
There are also a significant amount of travel perks when it comes to residency, especially in places like the Schengen region in Europe, which allows residency travel visa-free throughout various countries.
Many wealthy investors choose to have an account in an offshore bank. Due to favorable banking laws, these banks are often more secure, private, and allow anyone from around the world to easily open an account. In some cases, residency is needed to make an account.
How to Gain Second Residency?
Depending on your needs as a new resident, there are many options, both short term and long term. Most paths will require you to stay in the country for a specified amount of time.
• Residency by Investment
Some nations offer an easy residency option that allows foreigners to invest in certain markets and gives the investor residency in return. Often times it can be a simple investment in real estate or government projects. Some of these investments will return the money after a given amount of years while others keep the investment.
This option will allow investors to not only gain residency but also diversify their portfolio.
Some countries will even grant citizenship after a number of years of residency, but not all. It is advised to do your due diligence before choosing a country in which to gain residency. Knowing what various programs can offer will help you make an educated decision.
• Retirement Programs
Retired individuals that can prove income or an amount of wealth can take advantage of retirement residency programs that allow individuals to live in the country visa-free. Notable countries with attractive retirement programs include Belize and Portugal.
For those that are in the middle of the residency process, or just need to stay in the country for a short, finite amount of time, there are various visa options available.
In many cases, travelers need a visa to enter the country, depending on their home country. Visitors visas usually last 30 to 90 days. Some countries will allow travelers to renew this visa, others may not. If not, you can apply for different kinds of visas to extend your stay, such as work and education visas.
Each country has its own rules and regulations when it comes to moving in. Some can be as simple as making a single investment, others require individuals to prove they make a certain amount of money to sustain a life in the country and spend significant time living in the country.
Some individuals go a step beyond residency and achieve a second citizenship, therefore gaining another passport. With a second passport, holders can take advantage of more stable economy and trustworthy government system, if they do not feel secure in their own country. A second passport will also allow the holder to flee the country if needed.
The biggest draw to a second passport, however, is the visa-free travel. Most countries have relations with other nations that allow citizens to travel without the need of a visa. This is how passports are ranked. A citizenship that allows for visa-free travel in a lot of countries is considered strong.
Here are examples of strong passports:
• Singapore: 165 Countries
• South Korea: 163 Countries
• Japan, Germany: 162 Countries
• Denmark, Sweden, Finland, Italy, France, Spain: 161 Countries
• Luxembourg, Norway, Netherlands, Belgium, Austria, Portugal, Malaysia, UK, US: 160 Counties
Gaining citizenship to a new country can be a lengthy process and some require you to drop your current citizenship completely. Before choosing to gain citizenship, it is important to have a thorough plan and know why you are choosing to do so. This will help you find a country that will suit your needs.
Don’t Plan Alone
If you are ready to seek a second residency, Goldbach Capital has the knowledge and resources to become the trusted partner of wealthy families. We offer a comprehensive range of services. Whether you want to make the move as part of your financial planning or to enjoy the personal experiences, we can examine your goals and create a plan that works best for you.
There’s so much plan prior to leaving. You will have to decide what will happen to your life at your current home. Do you sell it? If you don’t plan on moving permanently, will you rent it out or just have a friend or family watch over it while you are away? You will also need to take care of your at-home banking needs by closing any accounts you don’t want to leave open or those you won’t be able to access from your new home.
One of the biggest decisions to make is where will you choose to move? This choice very well may be the hardest decision you will have to make during the expat process. Destinations all over the world offer so many wonderful cultural experiences and natural beauty. Others have ideal economic climates, working conditions or investment opportunities.
While incorporating our approach in life simplification, cost-cutting, and asset protection, growth, and monitoring, our family office services integrate your family’s vision and core values to create the right retirement plan for you.
Goldbach Capital is eager to assist you every step of the way. Relocating or repatriating can be an exciting process. It does not have to be hard.