Hong Kong-based advisory firm Nomad Capitalist has released its latest annual index of the best sandy places that attract high net worth investors who aren’t necessarily looking to take a vacation but who are rooting – and money – in the most remote climates. sunniest in the world: the Nomad Beach Index for 2021.
The company’s first such effort in two years – it took a Covid-related hiatus in 2020 – this year’s index features a ranking that includes 24 beach destinations around the world.
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The company has ranked the best suited beach destinations for entrepreneurs, investors, stockbrokers and other high net worth individuals seeking to invest, relocate and / or obtain residency or citizenship. It aggregated data from over 30 sources, each ranking on a scale of 1 to 50 for beauty (30% of the index ranking); services, taxes and immigration (20% each); and security (10%).
The Cayman Islands tops the list this year, thanks to their status as a Caribbean tax haven for investors who don’t want to deal with the complicated tax laws of other countries, according to Nomad Capitalist.
The company helps “entrepreneurs with seven and eight figures [and] investors who want to have a second home [or] have a Plan B citizenship or residence, or all of the above, [or] lower taxes in some cases, although there are fewer this year, ”said founder Andrew Henderson. “With the pandemic, people are eager to have a second place they can go. “
“It’s also immigration [policy]; how easily can you get there? ” he added. “You can go to Antigua [or] Saint Kitts and get citizenship by investment in six or seven months.
“Now you are a citizen and you can live there as long as you want and take advantage of the zero tax policies,” said Henderson. “I thought someone should take that into account as well as which beach was the best. “
“If you are German or British you can just exit the system, keep your passport and go there,” he said. “For Americans, you are considering Puerto Rico to keep your passport while enjoying significant tax benefits. “
Indeed, Puerto Rico is a convenient tax haven for US citizens. Eligible residents of the island are exempt from, for example, capital gains tax.