The list was compiled under the title“Nomad Passport Index” and is not for the working middle to lower-upper classcitizens, but is tailored for moneyed travelers who are in the possession ofmultiple citizenships.
If you have enough dough to travel theworld exclusively without the hassle of applying for visa and want to pay lowtaxes, then you should get a Swedish passport as it is ranked at number one bythe firm.
Like many of us, if you naively believedthat the US passport would be at the top, then you were wrong as it didn’t evenmake it to the top 30 in the ranking. The criteria for the ranking was based ona couple of factors, most prominent of which were; Global reputation, Personalfreedom, Visa-free travel, International taxes and ability to hold multiplecitizenships.
Coincidentally, the countries in the topten ranks all belonged to Europe with Belgium in second place, followed bySpain, Italy and on 5th place, Ireland. If the US is considered the “Land ofthe Free” then why had the US passport not been included in the top rankings?
Andrew Henderson, the founder of firmexplained it’s plight in a video by stating;
“Being a US citizen isn’t allit’s cracked up to be.” If you are content with visa-free travel and personalfreedom, “there’s not much better you can do than a U.S. passport.” Since theindex is for the rich, it is meant to show the “true value of citizenship.”
Sweden was at the top of the index because thepassport can get you into 176 countries visa free and if a Swedish citizenchooses to move overseas, they can escape taxes along with having a higherglobal reputation.
US citizens on the otherhand have to pay taxes from all of their income sources even if they are notliving in the country anymore. They also face many regulations while livingabroad and have substantial burden financially. It has caused some citizens torenounce their citizenships as well.
Henderson also explainedwhich factors to consider when applying for a second citizenship in his videogiven below;