The Middle East’s Ultra-rich Seek Bulgarian / Caribbean Citizenship or Second Passports (KT)
As an emerging market, the Middle East has the largest growth of high-net-worth people in the world, but many face travel or business obstacles because of their citizenship – especially if their country faces political and economic turmoil, like Egypt, Syria or Lebanon. According to an article in the Khaleej Times, the highest number of wealthy business people seeking second citizenship comes from Pakistan, followed by Lebanon, Egypt and Syria.
The ability to move freely through Europe together with a low income-tax rate makes citizenship in Bulgaria popular while the Caribbean is the second-most in-demand area for second citizenship because of the low cost of investment, fast-track programmes and very little requirement to actually reside in your second citizenship country.
Read the whole article, Middle East’s ultra-rich eye second nationality, in the Khaleej Times.
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