If your current country has high taxes, second citizenship could pay for itself purely in tax savings.įrom the tax perspective, the Caribbean second citizenship programmes are especially worthwhile. Even if you’re a US citizen who lives abroad, you can still pay taxes on your worldwide income.Īvoid prohibitive taxes with Caribbean second citizenship In some places, prohibitive taxes apply even if you don’t live in the country. And that figure dwindles even further when you start thinking about providing for heirs, with often-ludicrous inheritance and gift taxes hitting your already-taxed wealth. Sometimes even a larger chunk than you take home, depending where you’re from. However hard you work, you generally end up giving a huge chunk away. When it comes to tax, it sometimes feels like you can’t move a muscle without haemorrhaging money. Sometimes in triple figures.ġ – Second citizenship can save money on taxes The thing is though, second citizenship-by-investment doesn’t just cost money. Certainly worth consideration, but only when you’re feeling flush. Second citizenship is an expensive luxury, you probably think.
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