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How an alternative Residency or Citizenship can help non-EU residents hedge against political and financial unrest

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How an alternative Residency or Citizenship can help non-EU residents hedge against political and financial unrest

How an alternative Residency or Citizenship can help  non-EU residents hedge against political and financial unrest

So, what's wrong with the World?


We recently published a number of articles discussing how people are increasingly coming under unfair pressure from their own governments and financial institutions, simply because of changes in public opinion or circumstances of birth.

Usually, risk is mitigated by simply taking out an insurance policy. However, when it comes to unfair treatment and public criticism, this is very qualitative in nature and as such much harder to plan for.

The good news is that families and businesses can take a number of simple steps to help ensure that disruption to business and their lifestyle can be reduced. By establishing a second business entity, banking, or investment platform, in an alternative, friendly and preferably tax neutral jurisdiction, you have the potential to continue business operations and the familyโ€™s personal life, even in the event of disruption.

As the saying goes, โ€œDonโ€™t put all your eggs in one basketโ€. This strategy helps provide security and the ability to continue operating seamlessly, should the worst happen. If you look at some of the leading countries across the world, there have been times where a countryโ€™s economic and societal structure breaks down. We see infrastructure failing, increases in unemployment and crime and a general downturn in the overall happiness security of the general population. In fact, when there is a shift in a countryโ€™s political or economic system, being wealthy doesnโ€™t guarantee protection.

What can we do to help?

Itโ€™s at these times, that you can see why you should at least consider setting up an alternative life or business plan, in a friendly, secure and safe country.

With this in mind, the solution is really multifaceted. Review the current plan with a mind set of โ€œwhat ifโ€. Then consider taking these โ€œwhat ifโ€™sโ€ and mitigate the potential damage by undertaking one of more additional steps, to help both the business and family.

Choosing your Business financial plan

The first part of the solution is to implement an alternative business economic plan. This can be to open up overseas subsidiaries, overseas banking facilities and trading accounts. In fact, even though this is planned as a contingency, it potentially opens companies up to new markets with better quality banking and investment institutions.

Choosing your Family financial plan

The second part of the strategy would be looking at the family economic plan. Again, you could start by establishing an overseas trust or foundation in a country that values privacy and security. The family can open personal banking facilities to run alongside existing arrangements in their home nation. Therefore, if a country decides to freeze your existing accounts for no real reason, which we have seen in some leading countries in 2023, the family will still have access to banking and protection, so can continue life with the minimum of fuss.

How else can I protect my family and receive positive benefits

The third element is to do with having a secure and guaranteed physical residence. This can even start as simply as having a short-term vacation home or a business apartment in a city with an international travel hub, like Istanbul or Athens. The best part about this is that it provides the possibility to turn into a longer-term, semi-permanent solution, should the need arise.

Examples of why this is important

As an example, I am a 11-year resident of Nevis (Caribbean) and have operated an international Trust company also in Nevis. In that time, I saw first-hand the phenomenon of โ€œSnowbirdsโ€. Were wealthy American or Canadian families choosing to spend the winter in Nevis in the sun and away from the cold and snow back home.

A lot of these families of late, have taken this casual annual residency approach and made it their full-time residence, simply because they thought things back home were going in the wrong direction, and that their lives would be happier away from the confusion. This is the best example of a family simply realizing that living in a friendly, tax-neutral island such as Nevis was better, at least in the moment, than in their own country.

In fact, it can be seen on the world stage, that more and more Americans, and Canadians, are choosing to obtain an official second residence in places such as Cyprus, Greece, Malta and Portugal, often as a forerunner to establishing a financial footprint in Europe.

Families that choose to establish a second residency do so for a number of reasons. It could be purely a business decision, they may have older children in university, and the family wants to be closer, they may wish to have better access to medical or educational services, or simply wish to retire to Europe to explore, but need to have a permanent base close by.

Both Malta and Cyprus operate special tax regimes for new non-dom residents. These countries provide beneficial programs with low or no tax consequences. They are usually based on funds only being taxed on what is earned in the country or what is received into the country, leaving income that is generated and kept outside, exempt.

As these are very beneficial to those with truly worldwide income, a person who is trying to sell their business for example, would be wise to at least consider establishing a new tax base in a country like Cyprus or Malta.

With all things tax, we strongly recommend that anyone who is considering a move takes specific tax advice both in the country of origin and their new country of residence.

Families that originate from countries that do not have strong ties to the west often find it very beneficial to move to one of these residencies by investment countries, simply as a way of being in the middle of Europe and to live a better life. Other families feel itโ€™s beneficial to combine a second citizenship with a strong European residency in order to have a solid base and enjoy the freedom to travel for business and leisure.

So why is a Plan B so important and the simple steps you can take?

  • To establish a Second banking/financial Center to hold money, assets, investments in friendly countries.
  • To establish a Second Residency, which would enable families to enjoy free travel across Europe.
  • To legally establish a Second residence in a country that could provide a more favorable tax environment. In some countries new residents receive positive tax treatments, in others no tax at all, subject not breaking local rules.
  • Establish a legal presence in a Second country, to potentially open new markets for business, or simply as a convenient alternative to an existing market. Countries like Cyprus, Portugal or Malta are particularly good for this.
  • Obtain a Second Citizenship, guaranteeing that future generations will benefit from more rights and travel privileges.


    We are currently able to provide support in the following countries, in terms of the application process, introducing interesting investments and other services through our trusted partner network:

    Residency by Investment:
    Greece, Cyprus, Malta, Portugal, Turkey, Indonesia, and USA

    Citizenship by Investment:
    Grenada, Antigua, St Lucia, Malta, Dominica, Turkey and St Kitts & Nevis.

In addition to our residency and citizenship services, we can help clients in the following areas, through our Trusted Partners:

  • International wealth management
  • Tax Planning
  • Banking
  • Logistical and concierge services
  • Short term property financing (UK)

    In conclusion, Residency and Citizenship by investment programs offer applicants a multitude of real economic and social benefits that they can immediately bring into their lives, and provide these same amazing benefits to their children and future generations.

    NG Global Citizensโ€™s team is dedicated to helping individuals and families navigate these complexities and uncertainties, also provide tailored solutions to secure a second residency, citizenship, banking relationships or business domicile, ensuring you're always prepared, no matter what life throws at you.

This article was contributed by [Graham Sutcliffe BA (Hons) FCCA], a Co-founder and Managing Director of - NG Global Citizens (a 20-year veteran of the international Trust world) and specializes in helping clients and their families navigate the often-turbulent waters of making these changes.  We specialize in working with clients and their advisors to select the right mix of what should be included in their safety wealth strategy.  We help find them the right Investment, Realtor, Lawyer and Tax Professional so as to ensure a successful and efficient execution of the plan through our network of international Trusted Partners.

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