Listed below are the highest 10 seashore locations for…
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Cancun and Daytona might draw spring breakers and Waikiki, honeymooners, however which seashores worldwide are millionaire magnets?
Hong Kong-based consulting agency Nomad Capitalist launched its newest annual index of the highest sandy spots that enchantment to high-net-worth traders trying to not essentially trip however really put down roots — and a few money — on the earth’s sunniest climes: the Nomad Seaside Index for 2021.
The agency’s first such effort in two years — it took a Covid-related hiatus in 2020 — the index for this 12 months incorporates a high 10 rating that features 24 seashore locations across the globe.
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The agency graded seashore locations greatest suited to entrepreneurs, traders, stockbrokers and different high-net-worth people trying to make investments, relocate and/or acquire residency or citizenship. It aggregated knowledge from greater than 30 sources, rating every on a scale from 1 to 50 to for magnificence (30% of index rating); providers, taxes and immigration (20% every); and security (10%). Thirty-six seashores were ranked in whole.
The Cayman Islands tops this 12 months’s listing, thank to its standing as a Caribbean tax haven for traders who don’t want to cope with the difficult tax legal guidelines of different international locations, based on Nomad Capitalist.
The corporate helps “seven- and eight-figure entrepreneurs [and] investors who want to have a second home [or] have a Plan B citizenship or residence, or all the above, [or] reduce taxes in some cases, although there’s less of that this year,” mentioned founder Andrew Henderson. “With the pandemic, people are eager just to have a second place where they can go.”
Different Caribbean nations equivalent to Antigua and Barbuda, St. Kitts and Nevis, Dominica and St. Lucia — together with the neighboring Bahamas —additionally made the highest 10. Proximity to the U.S. and a extremely developed infrastructure and providers sector factored of their rankings, based on Henderson.
“It’s also immigration [policy]; how easily can you get there?” he added. “You can go to Antigua [or] St. Kitts and obtain citizenship by investment in six or seven months.” (Precise timeframes fluctuate by nation. St. Kitts and Nevis, for instance, has a reported common processing time of three months and as little as 45 days, based on the 2021 CBI Index.)
“Now you’re a citizen and you can live there as long as you want and enjoy the zero-tax policies,” Henderson. “I thought someone should take that into account along with which beach was the nicest.”
Buyers residing overseas however retaining American citizenship, nevertheless, are nonetheless topic to U.S. taxes, so some — like Henderson — have turned of their blue passports to totally take pleasure in international tax regimes. However those that do not want to take that route can head for Puerto Rico, which got here in at No. 10 together with spots in Croatia, the Philippines, Nicaragua and Spain.
“If you’re German or British, you can just leave the system, keep your passport and head down there,” he mentioned. “For Americans, you’re looking at Puerto Rico to keep your passport and still have great tax benefits.”
Certainly, Puerto Rico is a handy tax haven for U.S. residents. Qualifying residents of the island are exempt, for instance, from capital features taxes.
Clarification: This text has been up to date to make clear that the processing time for citizenship by funding in St. Kitts and Nevis reportedly averages three months and may be as little as 45 days.
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