Every Passport Money Can Buy in 2026 — And What Each One Actually Costs You in Tax

There is a genre of content that ranks second citizenship programmes by price, from cheapest to most expensive, and stops there. It is useful as a map. It is dangerous as a decision.

The price of a passport is the smallest number in the transaction. For an entrepreneur with operating companies in three countries, a holding structure in a fourth and clients in a dozen more, the relevant questions are different. Does this change where I am tax resident? Does it move my companies' place of effective management? Does my bank now report me to two revenue authorities instead of one? Does it survive the next two years of policy?

What follows is the full ladder — every programme currently on the market — with the 2026 figures verified, the material changes flagged, and a tax analysis attached to each jurisdiction. Several of the numbers circulating in popular videos and agency brochures are now out of date. Two of the biggest changes happened in the last twelve months. One of them, in Turkey, is the most commercially significant development in this market in years.

Part One: The Ladder, Corrected

Argentina — the "$2,000 passport" that costs two years and a tax base

Argentina has no operational citizenship-by-investment programme. What it has is a naturalisation route under Law 346 of 1869 requiring two years of continuous legal residence — one of the shortest windows in the world.

The nuance matters. Decree of Necessity and Urgency 366/2025, issued in May 2025, moved the granting of citizenship from the federal courts to the executive — the National Directorate of Migration — and redefined "continuous residence" in the strictest way available: an applicant must have remained in Argentina for the whole period without exits. The same decree tightened presence rules for residents generally. Since 6 October 2025, applications have been handled digitally through the RaDEX system rather than by the courts.

That decree has now been struck down. On 30 June 2026, the National Electoral Chamber declared DNU 366/2025 absolutely null in “Yang, Liping s/nacionalidad y ciudadanía”, holding that citizenship is an electoral matter reserved to Congress and therefore beyond the reach of a decree of necessity and urgency. Anyone planning around Argentine naturalisation today is planning around unsettled law.

Decree 524/2025, issued in July 2025, created a legal framework for citizenship by investment under a dedicated agency within the Ministry of Economy. The framework is in force; the secondary regulations that would make it operational have not been published. Figures of USD 500,000 to 1 million circulate in the market. They are projections, not published thresholds.

The tax reality. Argentine tax residency is triggered by the grant of permanent migration residence, or by twelve continuous months on temporary authorisations. In other words, the same physical presence that earns you the passport also puts you inside the tax net, well before you get it. Argentine tax residents pay income tax on worldwide income at progressive rates to 35 per cent. They also pay Bienes Personales, an annual net wealth tax on worldwide assets above a non-taxable minimum — one of the few individual wealth taxes still in force anywhere. The 2024 reform unified the treatment of domestic and foreign assets, removing the old offshore surcharge, and set the scale on a path from 0.5–1.0 per cent down toward a single 0.25 per cent by 2027. There is no comprehensive income tax treaty between Argentina and the United States, so foreign tax credits do all the work for US-connected clients.

For an internationally diversified business owner, two years of Argentine tax residency is not a rounding error. It is potentially the most expensive item on this entire list. Argentina is an excellent passport acquired by an expensive route.

São Tomé and Príncipe — USD 90,000, and eleven months of track record

Launched on 1 August 2025 under Decree-Law 07/2025, this is now the lowest-priced programme in the world at USD 90,000 for a single applicant. The Citizenship by Investment Unit is based in Dubai and operated under a long-term exclusive arrangement with a private partner. Contributions go to a National Transformation Fund earmarked for renewable energy, infrastructure, housing and education.

Two corrections to the common description. First, on the passport-collector point: since April 2026, applications from individuals holding three or more existing citizenships are reported to have been suspended rather than merely discouraged — though the Citizenship by Investment Unit has published nothing confirming it. Second, on speed: marketing materials quote six to eight weeks, but reported processing has stretched considerably beyond that as volume built. Industry reporting puts the first five months at fewer than a hundred applications, only a fraction of them reviewed; the unit publishes no figures of its own. This is a very young programme with a thin operational record.

Visa-free access sits at roughly 60 to 71 destinations, including Hong Kong and Singapore. There is no Schengen access.

The tax reality. Citizenship does not create São Toméan tax residency, and a non-resident citizen has no exposure to São Toméan tax on foreign income. This is a pure document play. It changes nothing about where you are taxed, which is precisely its function — and precisely why banks will treat it with scepticism (see Part Three).

Vanuatu — USD 130,000, fast, and no longer a European travel document

The Development Support Programme requires a non-refundable USD 130,000 for a single applicant, USD 150,000 for a couple, with roughly USD 10,000–15,000 per additional dependant and a demonstrated net asset position of USD 250,000. Processing runs 30 to 60 days. There is no residency requirement.

The material fact usually skipped: the European Union permanently revoked Vanuatu's visa exemption in December 2024, having fully suspended it since February 2023, explicitly because of the investor citizenship programme. The United Kingdom revoked its own visa-free arrangement in July 2023. Vanuatu was the first country to lose an EU visa waiver over a citizenship programme. The programme itself was suspended in March 2025 for roughly a hundred days and reopened in May 2025 with tightened due diligence.

So: the two destinations most buyers care about are the two this passport does not open. What remains is 90 to 100 destinations, a 30-day turnaround and genuine optionality.

The tax reality. Vanuatu levies no personal income tax, no capital gains tax and no inheritance tax. For a person who genuinely relocates, that is real. For everyone else it is irrelevant — and Vanuatu sits on the OECD's list of schemes flagged as high-risk for undermining financial account reporting, which has practical consequences at account opening.

Paraguay — a residency play, correctly identified

Paraguay is frequently marketed as a citizenship route. It is not. The Investor Pass, established by Resolution 0283/2026 of the Ministry of Industry and Commerce and in force since 28 April 2026, consolidated four tracks: USD 70,000 productive investment through the SUACE system with a business plan and roughly five local jobs; USD 150,000 in tourism; USD 200,000 in commercial real estate; and USD 200,000 in financial instruments held two years. All four deliver direct permanent residency, bypassing the usual two-year temporary stage.

Citizenship is a separate matter: three years of permanent residency, Spanish or Guaraní at a basic level, a civics and history examination, and demonstrated arraigo — genuine roots. The Investor Pass permits residency to be maintained with as little as one visit every three years. That flexibility is exactly what prevents it from building the arraigo a naturalisation file requires. You cannot have both.

The tax reality — and this is where Paraguay earns its place. Under Law 6380/2019, Paraguay applies a strict territorial system: foreign-source income is outside the scope of Paraguayan income tax entirely. Local personal income tax runs 8 to 10 per cent, corporate income tax 10 per cent, VAT 10 per cent. There is no wealth tax and no inheritance tax. Critically, there is no 183-day rule — tax residency attaches to legal residency, a cédula and an active RUC registration.

For a business owner whose income is genuinely foreign-sourced, Paraguay is one of the most efficient bases available anywhere, and the price of entry is a fraction of the alternatives. The citizenship is a distant secondary benefit. Judge the programme on the tax residency, not the passport.

The Caribbean Five — USD 200,000 to 250,000, and a countdown running

The 2024 regional Memorandum of Agreement set a USD 200,000 floor. Current donation-route minimums for a single applicant: Dominica USD 200,000, Antigua and Barbuda USD 230,000, Grenada USD 235,000, Saint Lucia USD 240,000, Saint Kitts and Nevis USD 250,000. Timelines run roughly five to sixteen months.

Anyone who bought in at USD 100,000–150,000 before 2024 bought at a price that no longer exists. More importantly, three separate regulatory processes are now converging on these programmes, and prospective applicants need all three in view.

The European process. On 25 June 2026, on the Antiguan government's own account and consistent industry reporting, the European Commission wrote to all five governments requesting that they phase out their citizenship-by-investment programmes by 1 June 2028, with a 24-month transition and interim measures expected by September 2026 — excluding EU-sanctioned individuals and reinforcing vetting for applicants of all nationalities. The Commission has not published the letter, so its precise terms are second-hand; responses are expected to feed into the Commission's next Visa Suspension Mechanism report, due December 2026. Under the revised mechanism, operating an investor citizenship programme is itself grounds for reviewing a country's visa exemption. This is not yet a visa ban, and 1 June 2028 is not an automatic cancellation date. It is, however, a formal request with the Vanuatu precedent behind it.

The American process. Proclamation 10998 of 16 December 2025, effective 1 January 2026, added Antigua and Barbuda and Dominica to the partial travel restriction list — and the stated basis for both was their operation of citizenship by investment without residency requirements. For nationals of both countries, entry as immigrants and on B-1/B-2, F, M and J visas is suspended, with consular officers directed to reduce the validity of other non-immigrant categories. Visitor visa reciprocity for both countries was subsequently cut from ten years to three months, single entry. A 180-day review cycle allows the restrictions to be revisited. Existing valid visas were not revoked, and dual nationals travelling on a non-designated passport are exempt.

That last point deserves emphasis, because it inverts the entire premise. A Caribbean passport bought as a mobility instrument has, for two of the five countries, become a document that attracts restriction rather than removing it.

The regional process. The five states agreed in September 2025 to establish the Eastern Caribbean Citizenship by Investment Regulatory Authority, expected to become operational during 2026. It brings a cumulative 30-day physical presence requirement within five years of citizenship, mandatory applicant interviews, harmonised due diligence through CARICOM IMPACS, mandatory escrow, biometrics, and a shared database preventing a rejected applicant from refiling in another member state. Antigua and Barbuda legislated the 30-day requirement in 2026, raising it from five days. Implementation has slipped more than once pending ratification.

The tax reality. Saint Kitts and Nevis and Antigua and Barbuda levy no personal income tax at all. Grenada and Saint Lucia tax only locally-sourced income. Dominica taxes its tax residents on worldwide income. None of this reaches you automatically: citizenship does not confer tax residency in any of the five, which requires real presence and genuine local ties. The passport and the tax treatment are separate purchases.

Egypt — from USD 250,000, and better than its reputation

Under Law 190 of 2019 and Prime Ministerial Decision 876 of 2023, four routes: USD 250,000 non-refundable contribution to the treasury; USD 300,000 in approved real estate held five years; USD 350,000 in a business plus a USD 100,000 contribution; or a USD 500,000 bank deposit refunded after three years. A USD 10,000 state fee applies. Processing runs three to twelve months, with physical presence required.

The deposit route carries a specific and under-discussed risk: repayment is made in Egyptian pounds at the central bank rate on the repayment date. That is a currency exposure, not a refundable deposit. The real estate route is more defensible for anyone who wants the asset anyway.

The genuinely interesting feature is that Egypt is a US E-2 treaty country. Egyptian citizens may pursue the E-2 investor visa after a qualifying period of residence — a route to the United States that most Caribbean options do not provide. Visa-free access is modest, at 50-plus destinations.

The tax reality. Egypt taxes residents on worldwide income at progressive rates. Citizenship alone does not make you resident. Treat it as a document-plus-asset play, not a tax strategy.

Turkey — USD 400,000, and, as of June 2026, the most interesting tax jurisdiction on this list

The headline number is unchanged: USD 400,000 in real estate, held three years, since June 2022. Payment must move through a Turkish bank, the property must be acquired from a Turkish citizen or Turkish entity, and a licensed valuation is required. Alternative routes — bank deposits, government bonds, fixed capital investment, fund units — sit at USD 500,000. Processing runs six to twelve months. Spouse and children under 18 are included; parents are not eligible under the investment route.

Two things deserve more attention than they usually get.

First, the Green Passport. The ordinary Turkish passport does not provide visa-free Schengen access. The special passport — Hususi Damgalı Pasaport, the "green passport" — does, for 90 days in any 180-day period, with total coverage of roughly 158 to 160 destinations and five-year validity. Outside the civil service, the route in is export performance: eligibility is assessed on a company's average annual exports over the preceding three calendar years, with the number of qualifying company representatives scaling by volume. The tier figures in circulation begin around USD 500,000 in average annual exports for a single representative and rise to five representatives above USD 100 million, but they have been revised more than once and are worth checking against the current regulation before anyone plans around them. For a client already running a manufacturing or trading business that can be routed through Turkey, this converts a mid-tier passport into a European travel document. It requires a real operating business. That is the point.

Second — and this is the most important development in this entire market — Turkey now has a non-dom regime. Law No. 7582, adopted on 21 May 2026 and published in the Official Gazette on 4 June 2026, inserted Article 20/D (Mükerrer) into the Income Tax Law. It grants a twenty-year exemption from Turkish income tax on foreign-source income for individuals who become Turkish tax residents, provided they had neither domicile nor tax liability in Turkey in the three preceding calendar years. The statute exempts foreign-source “kazanç ve iratlar” without enumerating categories, which on its face reaches foreign dividends, interest, royalties, capital gains and business profits. Whether it extends to employment income for services performed abroad is the reading most advisers have taken, but neither the article nor Communiqué No. 333 says so expressly. Turkish-source income remains taxable on the ordinary 15 to 40 per cent scale. Inheritance tax drops to a flat 1 per cent on transfers by succession falling inside the exemption period. The relief is drafted for succession only — it does not extend to lifetime gifts. A parallel asset repatriation regime introduced by the same law allows declaration of foreign-held assets at a headline 5 per cent, falling to 4, 3, 2, 1 or nil per cent where the holder commits to keeping them in a Turkish account for one to five years — with half a point added to every rate from 1 January 2027.

The provision applies to persons resident in Turkey from 1 January 2026 onward. Implementing Communiqué No. 333 of 4 July 2026 requires a formal Exemption Certificate from the tax office, with a filing deadline for those who became resident during 2026. Two limits are easy to miss: foreign tax paid on the exempt income cannot be credited against Turkish tax, and expenses attributable to that income are not deductible. The certificate is also not a settlement: if a subsequent audit establishes Turkish tax liability inside the three-year lookback, it can be cancelled retrospectively with penalties and interest.

The commercial implication is significant. Turkey has moved from "buy an apartment, receive a mid-tier passport" to a jurisdiction offering a twenty-year foreign income exemption, a low flat inheritance rate, a citizenship route at USD 400,000, and — through the export pathway — a Schengen-capable travel document. For an entrepreneur with genuinely international income who is willing to relocate, no other jurisdiction on this list currently offers that combination.

The sequencing trap is equally significant. The three-year clean-slate test bars anyone who held a Turkish domicile or tax liability in the three calendar years before becoming resident — prior Turkish employment or business income will cost the exemption outright. But the carve-out matters as much as the rule: liability arising only from Turkish rental income, investment income or capital gains is expressly excluded from the test, so owning the apartment that bought the passport does not, by itself, disqualify you. Order of operations now determines whether a client captures a twenty-year benefit or forfeits it.

El Salvador — USD 1 million, in Bitcoin or USDT

The Freedom Passport programme requires a USD 1,000,000 non-refundable contribution paid in BTC or USDT to a designated government wallet, capped at 1,000 applicants per year, processed remotely in roughly six to eight weeks. Spouse and minor children are included. The Salvadoran passport carries visa-free or visa-on-arrival access to approximately 130 destinations including the Schengen Area, and ranks around 33rd on the major indices.

This is the only programme in the world where the qualifying contribution moves on-chain. For clients whose wealth is genuinely held in crypto, this removes a compliance problem rather than creating one. Naturalisation for ordinary foreigners otherwise takes five years; one year for Spanish and Hispano-American nationals.

The tax reality. El Salvador operates a territorial system, imposes no capital gains tax on Bitcoin, and a 2024 reform reduced tax on qualifying foreign investment income and remittances to zero. As always: territorial treatment requires residency, not merely the passport.

Cambodia — the price moved, and it moved a long way

The figures still circulating widely — around USD 245,000 for the donation route and USD 305,000–312,000 for the investment route — are the historic thresholds under the 1996 Law on Nationality. Sub-Decree No. 225 on the Implementation of the Law on Nationality, effective 1 December 2025, reset them substantially: 4 billion riel, roughly USD 1 million, in personal capital deployed into an approved priority investment project, or 12 billion riel, roughly USD 3 million, as a cash donation to the national budget or humanitarian sector.

Note the direction of the correction. The donation route is now the more expensive of the two at approximately USD 3 million. Applications are assessed by the Ministry of Interior and granted by Royal Decree; naturalisation is discretionary and not a right. The passport ranks around 87th, with no visa-free access to Europe or North America.

The tax reality. Cambodia is not a territorial haven for people who actually live there. An individual domiciled in Cambodia, with a principal abode there, or present more than 182 days in a twelve-month period is a resident taxpayer, taxed on worldwide salary income at progressive rates to 20 per cent, with foreign tax credits available. Non-residents pay a flat 20 per cent on Cambodian-source income only. Cambodia has ratified a limited number of double tax treaties.

At USD 1 million minimum, for a passport with no Western visa-free access, in a jurisdiction that taxes actual residents on worldwide employment income, the case is narrow. It is a collector's instrument or a play by someone with a specific operational reason to be in Cambodia.

Malta — this programme no longer exists

This correction matters more than any other on the list, because Malta is still being sold.

On 29 April 2025, the Court of Justice of the European Union ruled in Case C-181/23 that Malta's citizenship-by-investment scheme was incompatible with EU law, holding that EU citizenship cannot be treated as a commercial commodity. Malta complied. Act XXI of 2025, on 24 July 2025, formally abolished the naturalisation-for-exceptional-services-by-direct-investment route. There is no lawful investment path to Maltese or EU citizenship in 2026.

What remains is ordinary naturalisation and a genuine exceptional-merit route in the proper sense: demonstrated contribution, not a defined contribution schedule. Malta's residency programmes continue and confer no citizenship. Anyone quoting a euro price for a Maltese passport today is quoting a repealed law.

For clients whose objective was an EU passport without EU ancestry, the honest answer in 2026 is that the direct purchase route into EU citizenship is closed. The alternatives are long-horizon residency-to-naturalisation in an EU state, or ancestry-based claims. Both are slower and neither is a transaction.

The tax reality. Malta's continuing attraction for internationally mobile individuals is its remittance basis for non-domiciled residents — foreign income taxed only when remitted to Malta. That regime is unaffected by the citizenship ruling and remains available through residency. It is the reason to look at Malta. It always was.

Austria — from roughly €3–10 million, and genuinely discretionary

Austria has no citizenship-by-investment programme in the ordinary sense. Section 10(6) of the Citizenship Act permits a discretionary grant for extraordinary services in the interest of the Republic, waiving the usual residence and language requirements. In practice, successful economic cases have involved active direct business investment from around €10 million with meaningful job creation, or public-interest donations from around €3–4 million with support across multiple levels of government. Professional, due diligence and structuring costs typically add €400,000–600,000. Passive investments — real estate, bonds, deposits — do not qualify.

Uniquely among EU states, this route permits retention of existing citizenships, an explicit exception to Austria's general prohibition on dual nationality. There is no residence requirement and no guarantee of approval regardless of amount. Approvals are counted in individuals per year, not hundreds.

The tax reality. Austrian tax residency arises from domicile or habitual abode — as a working rule, more than 183 days. Residents are taxed on worldwide income at 0 to 55 per cent, with the top rate applying above €1 million; investment income is taxed at a flat 27.5 per cent; social contributions add materially up to the contribution ceiling; corporate tax is 23 per cent. There is no wealth tax. The Zuzugsbegünstigung relief exists but is targeted at scientists, researchers and artists and is narrow in practice.

The essential point: Austrian citizenship does not require Austrian tax residency. A holder can live and be taxed elsewhere. For a family whose objective is a top-tier EU passport with generational transfer and no requirement to relocate into a 55 per cent regime, that separation is the entire value proposition.

Part Two: The Framework That Actually Governs the Decision

Reading the list above as a price ladder produces bad decisions. Five structural principles govern outcomes for internationally diversified business owners.

1. Citizenship almost never determines where you pay tax. The United States and Eritrea tax on the basis of citizenship. Everywhere else, tax residency is determined by presence, domicile, permanent home or centre of vital interests. Buying a Caribbean, Vanuatu or Turkish passport changes nothing about your tax position unless and until you change where you actually live. Every marketing claim that conflates the two should be treated as a warning about the adviser.

2. Your companies have a residence too, and it is easier to move by accident than by design. For a group with entities in several jurisdictions, the personal passport is the least consequential variable. What matters is where each entity's place of effective management sits, whether controlled foreign company rules in your country of residence attribute undistributed profits to you personally, whether your activities create a permanent establishment, and whether your holding structure retains treaty access after a move. A Hong Kong or BVI company directed from Vienna can acquire Austrian corporate tax residency. A relocation undertaken for personal reasons can reprice an entire group. This analysis has to run before the immigration file, not after it.

3. Financial account reporting changed in 2026, and the change is aimed squarely at this market. Under the updated Common Reporting Standard, all jurisdictions of residence must be reported for account holders with more than one — the previous approach of resolving multiple residences through treaty tie-breakers no longer applies at the financial institution level. Institutions are required to apply enhanced due diligence where a client claims residence in a jurisdiction the OECD has flagged as high-risk, and the criteria for that flag are precisely the features that make these programmes attractive: a personal income tax rate below 10 per cent on foreign financial assets and no meaningful physical presence requirement. Antigua and Barbuda, Dominica, Grenada, Saint Kitts and Nevis, Saint Lucia, Malta, the UAE and Vanuatu all appear on the OECD's published analysis. Onboarding questions now include, directly, whether residence was obtained under an investment scheme and where returns have been filed.

The practical consequence: a second passport used to assert a tax residency you do not genuinely hold is no longer a viable strategy, and attempting it converts an ordinary compliance exercise into an adverse one. A second passport that supports a real, substantiated relocation works exactly as intended.

4. For US persons, none of this is the strategy. Acquiring a second citizenship changes nothing for a US citizen. Only renunciation ends US tax obligations, and renunciation is itself a taxable event. You are a covered expatriate if your net worth is USD 2 million or more — a threshold not indexed to inflation — or your average annual net US income tax for the preceding five years exceeds USD 211,000 for 2026, or you cannot certify five years of compliance. Covered expatriates face a deemed sale of worldwide assets the day before expatriation, with the first USD 910,000 of aggregate gain excluded for 2026. Retirement accounts are treated separately and less favourably. And Section 2801 imposes a 40 per cent tax on the US recipient of any subsequent gift or bequest from a covered expatriate, indefinitely — a provision that quietly reshapes multi-generational planning for families with US-resident children.

For a US founder holding illiquid equity, the exit tax is a cash-flow event on paper wealth. That analysis comes first. The passport comes second.

5. Political durability is now a pricing input. Within eighteen months this market has seen an EU high court strike down a member state's programme, the EU permanently revoke one country's visa waiver and formally request that five more phase their programmes out, the United States impose entry restrictions expressly citing citizenship by investment, and a regional regulator emerge with presence requirements and a shared applicant database. Reading those as isolated events misses the pattern. The direction of travel is that citizenship acquired without a genuine connection is being progressively de-valued by the countries whose access made it worth buying.

That does not make these programmes worthless. It means the ones built on genuine connection — real residence, real business, real presence — are appreciating in relative value, and the ones built purely on transaction are depreciating. Price your decision accordingly.

Part Three: How to Choose

Match the instrument to the objective, and be honest about which objective is actually yours.

If the objective is insurance — a document that exists in a drawer against a low-probability, high-severity scenario — then speed and cost dominate, and travel access matters less than most buyers think. Vanuatu at USD 130,000 in six weeks, or São Tomé at USD 90,000 with the caveat of a very short track record, are rational. Do not overpay for visa-free access you will never use.

If the objective is mobility — you hold a passport that makes ordinary business travel slow — then the calculus changed this year. Caribbean citizenship still delivers Schengen and UK access today, but two of the five now carry US entry restrictions, and all five face a formal EU phase-out request with a 2028 horizon. Turkey's export-linked Green Passport route delivers Schengen access on a more durable footing because it rests on a real operating business rather than a transaction. That takes longer and requires substance. That is exactly why it is more robust.

If the objective is to change your tax base — the objective most clients actually have, whether or not they say it that way — then the passport is nearly irrelevant and the residency is everything. Paraguay's territorial system with no minimum-day requirement, Turkey's new twenty-year foreign income exemption, the UAE, Malta's remittance basis for non-domiciled residents: these are the instruments. Each requires substance, and each interacts with the CFC rules, exit taxes and management-and-control tests of the jurisdiction you are leaving. Get that sequence wrong and you pay twice.

If the objective is generational — an EU passport for your children, transferable, without relocating into a high-tax regime — the honest 2026 landscape is narrow. Malta is closed. Austria's Section 10(6) route is real but discretionary, expensive and slow. Everything else is a long-horizon residency-to-naturalisation project. Anyone offering you a faster, cheaper EU passport in 2026 is either describing something that no longer exists or something that will not survive scrutiny.

The Part That Cannot Be Generalised

The figures in this article were current as at August 2026, and several of them sit in areas of active regulatory change. None of it tells you what to do.

The reason is simple: for anyone with a business portfolio spread across jurisdictions, the second citizenship is a downstream decision. Upstream sit questions that are entirely specific to your situation — where your entities are managed, where your revenue arises, which treaties your structure currently relies on, what your existing country of residence charges you to leave, whether controlled foreign company rules will attribute your operating profits to you personally in your new home, and what your bank will do with a self-certification listing two jurisdictions of residence instead of one.

Two clients can look identical on paper — similar net worth, similar family structure, similar goals — and the correct answer for one can be Paraguay at USD 70,000 while the correct answer for the other is Turkey at USD 400,000, or no second citizenship at all and a restructuring of where the group is managed. The variable that separates them is almost never the passport. It is the shape of the business.

Work through the tax analysis first. Let it tell you which residency you need. Then, and only then, decide whether a passport belongs in the plan at all.

If you would like this assessed against your own structure — your entities, your residences, your treaty exposure and your timeline — you can book a consultation with our team.

This article is for general information and reflects the position as at August 2026. Programme terms, thresholds and tax legislation change frequently and several of the frameworks discussed are subject to active regulatory processes. Nothing here constitutes legal or tax advice for any particular situation.