New Subscribe Newsletters ToEpaper Brandspot / PR Spot Digital Nomads are increasingly ooking for second citizenship in the best tax haven countries, according to iGlobaLnet. Find out how it's done. Digital Nomads are increasingly looking for second citizenship in the best tax haven countries, according to iGlobal.net. Find out how it's done. BOoBHEO JUL122022, 14:36 IST] UPDATED: JUL 12 2022, 14:36 IST ‘Shipwreck Beach, Island of Saint Kitts Ifyou’re an entrepreneur who can work remotely, or one of the lucky ones whose managers aren't requiring a return to the office full-time, you may be interested in becoming a “digital nomad” — someone who's able to legally live and work in a foreign country longer than a tourist visa would allowNew Subscribe Newsletters ToEpaper Who are the digital nomads? Digital Nomads are a group of self-employed individuals who have chosen to live a location- independent, technology-enabled lifestyle that allows them to travel and work from anywhere in the world, Asa result, they can make strategic decisions that other entrepreneurs cannot, such as relocating to a one of the best tax haven countries. The Problem This newfound ability to work from anywhere, however, comes with its own set of difficulties. Some of the more significant and less glamorous challenges of living a nomadic lifestyle are taxation, annual fees and related residency issues. One crucial issue that many digital nomads overlook is how to manage their taxes while travelling. Different countries apply different tax systems based on either citizenship, residency or the geographical source of your income (territorial). These complex tax systems are often not to your advantage especially when the tax system is based on your citizenship. Citizenship countries tax their citizens regardless of their location and source of income. Asa result, if you don't file your annual tax returns while living in another country, you could face penalties, interest, and even criminal charges. Changing Tax Laws create challenges for Digital Nomads Furthermore, tax laws are subject to change without notice. For example, the UK “Deemed Domiciled” laws are no longer so accommodating. Of further concern is the political fallout against high net worth individuals. Not to mention the living nightmare of contending with FATCA courtesy of the US government. Asa result, it has become nearly impossible for US citizens to open offshore accounts in the most appealing countries for tax residency. The above risks have been well known for some time, but new complications will include turbulence in the global economy which means tough economic times are ahead. You can certainly expect higher taxes and more government oversight. Plus, the geopolitical chaos by way of the war in Ukraine means that anything is possible going forward The SolutionNew Subscribe Newsletters ToEpaper are une vi une favourites among its clientele. Although Domi from. Caribbean countries with citizenship by investment programmes also include Grenada as well ica is highly sought after, it is not the only country with tax haven benefits to choose as Saint kitts and Nevis. Obtaining a second citizenship in any of these countries enables digital nomads to establish a lifetime of tax residency benefits from that country, potentially eliminating their income tax obligations altogether. In addition, the visa free travel benefits are very rewarding with your politically neutral passport. Also enter business contracts, open investment accounts and enjoy your offshore lifestyle while being free of the stigma associated with your country of origin. Second citizenship allows you to be fully prepared for a dynamic global environment. How to apply for a second citizenship In order to obtain dual citizenship in Caribbean countries like Dominica, Grenada, or Saint Kitts and Nevis, applicants need an experienced agent such as iGlobal.net, one of the leading advisors in this space. The firm will assist applicants in determining the best type of investment for them. Choose from our investment portfolio of five star resorts in the Caribbean, where you can also obtain 5% tax free investment yield. After the holding period, sell the investment to a new applicant for citizenship while retaining your Caribbean passport in perpetuity. iGlobal will guide you through the entire application process. The first step is their KYC/AML protocol to ensure that your application will be successful from the outset. If there are any potential issues, you will be immediately informed in advance. In addition, your initial consultation is free of charge. After completion, iGlobal will be submitting the file on your behalf for government approval. Following that, all applicants over the age of 16 will be subjected to due diligence checks. Once the country approves the application, the applicant transfers the investment amount and receives their second citizenship and passport. The entire process can be completed in less than 3 months. Why choose iGlobal.net? For more than 35 years, iGlobal.net in combination with their partners have worked with the Caribbean citizenship by investment programmes plus Vanuatu. As a result, the company has forged incredible and unique ties with local real estate developers and government agencies.New Subscribe Newsletters ToEpaper Suggeat yet une job done effectively, in the most cost efficient manner possible. Whether your ultimate objective is offshore banking, offshore company formation, international investing or offshore asset protection, iGlobal provides time tested, effective solutions. Post Citizenship Se From beginning to end, your success will be tailor made. After you obtain second citizenship, rest assured iGlobal can assist with post citizenship services such as acquiring a local driver's license, tax identification number and street address. These are essentials for opening offshore bank accounts and unlocking the benefits of your new offshore lifestyle. Additional perks include an option for residency in any CARICOM or OECS tax haven country. Therefore, enjoy the right to live and work practically anywhere in the Eastern Caribbean with no annual fees, visa renewals and best of all no income tax. Contact iGlobal today to discover the best tax haven countries to meet your objectives. This article is part of a featured content programme. FEATURED CONTENT Featured Content Why is Kamran Razmdjoo's style preferred by renowned celebritis Featured Content Star Birdies: The Next Blue-Chip 2D NFT Project... 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