Many passport rankings focus on one factor: visa-free travel.
But tax and immigration consultancy Nomad Capitalist says passport strength is more complicated than that.
That’s why it produces a weighted annual index analyzing five criteria:
- Visa-free travel – 50%
- Tax – 20%
- Global awareness—10%
- Ability to hold dual citizenship – 10%
- Personal freedoms (freedom of the press, compulsory military service, etc.) – 10%
2024 Nomadic Passport Index “Citizens of different countries have very different requirements when it comes to paying taxes, living freely, complying with regulations and avoiding scrutiny when traveling. In this regard, the number of countries a passport holder can visit does not tell the full story,” it said.
best passport in the world
Switzerland ranks first this year, followed by Ireland and Portugal.
Here is the top 50 list:
Nomad Capitalist’s research team said Ireland’s slight corporate tax changes were offset by its top scores for tourism and global awareness.
The report states: “Portugal ranks alongside Ireland in all aspects except personal freedom, underscoring its stable appeal, while Finland, known for its wide range of visa-free travel options, is currently ranked fourth, underscoring the importance of global access sex.”
But the one with “the most outstanding development” is the United Arab Emirates.
The UAE ranked first in 2023, but this year it is tied for sixth place with countries such as the Netherlands, Germany and New Zealand, the research team said. The drop was due to changes in UAE tax policies that affected domestic and foreign company owners, including residents with ownership stakes in foreign companies, the report said.
According to the team, Bulgaria deserves attention. Its passport has risen from 42nd to 32nd in the index in two years, largely due to its plans to enter Europe’s Schengen zone at the end of March.
Hong Kong slips from 44th place The 2022 ranking dropped to 50th this year, while Macau ranked 69th and China ranked lower at 120th place.
this full list It can be viewed on Nomad Capitalist’s website.
Many people want to know how their passports compare to their global peers, but that’s not why Nomad Capitalist conducts its annual rankings.
The company helps people obtain second and even third citizenship – also known as “passport portfolios”, said its chief executive, Andrew Henderson, adding that many people did so to reduce their taxes Afford or have a backup living plan.
About The Author
