As our world becomes more connected, many smart corporations are opting for the possibility of expanding outside their home countries. They are establishing new branches to capitalize on international markets, diversify their investments, endorse innovation and development, and expand their reach to customers across the globe. To help their venture grow, they are sending their brilliant employees abroad.
Having the ability to relocate, invest in promising sectors abroad, and expand the business in new potential markets, benefit from tax exemptions provides investors an opportunity to grow their wealth and safeguard against economic and political instability. Therefore, it’s important more than ever for companies and investors to be able to move around the globe freely.
Obtaining global mobility is expensive and requires a lot of paperwork, however, one of the best ways available to make it easier is through citizenship by investment programs.
Global Mobility defined
In its most basic form, global mobility means the ability of individuals to move seamlessly from one country to another in both business and personal life. This term is commonly used in companies that are expanding to global markets and want their employees to move abroad as part of their work.
Whether an investor runs a small business or heads a big corporation, mobilizing the workforce as quickly and as seamlessly as possible empowers the business to achieve more profits. Global mobility is the ability to be a global citizen, and Citizenship by Investment allows you to do so while also growing your wealth and protecting your loved ones from risk.
Why global mobility is vital?
Global mobility is an opportunity for individuals and investors to enter global markets and manage their wealth with greater safeguards. It is also a perfect way to avoid economic and political uncertainty and emergency scenarios. It brings financial freedom and the ability to freely move from one nation to another.
Protecting wealth
The ability to reside in different countries and invest, work, or expand your business allows you to break free from the financial structures you were previously bound by. Having your wealth invested in a steady country is critical to prosper and protect what you have during times of crisis and economic fallout.
Global mobility can also protect investors or high-net-worth individuals and their wealth from tough regulations and national crisis. The coronavirus pandemic, as well as the Russia-Ukraine war, has proved how fragile the markets can be, and how critical it is to escape a crisis mismanaged. Holders of dual citizenship or residency can avail of global mobility to protect themselves and their wealth.
Touring the world without a visa
Visa applications are usually time-consuming, and expensive. Visas are only valid for a limited time and must be renewed on a regular basis. Citizens of various countries have visa-free access to a limited number of countries that do not exceed 40 sometimes, whereas some passports provide visa-free access to more than 160 countries. For a businessman who needs the freedom to cross borders to expand and grow his business, one passport would confine his freedom of travel and mobility.
Global mobility also provides a multitude of advantages for the investor’s business, because most of the countries that offer citizenship by investment programs have tax benefits, and exemptions for paying capital gains, income tax, inheritance tax, foreign income tax, and wealth tax. Therefore, investors will be spending next to zero taxes, which drives a profitable business.
Right people for the right job
Global mobility is more important than ever in a market defined by skills. It assists in putting the most qualified people on the job, wherever that job may be. It helps leadership teams to better recognize people\’s skills, regardless of where they are located.
Global organizations are competing for talent and consider employee retention a top priority. The ability to upskill and develop existing talent is essential to retention, that’s why opportunities for growth and learning make employees more likely to stay with their current company. When organizations integrate global mobility into their diversity initiatives, employees feel a stronger sense of belonging and become more productive, more innovative, and more engaged.
Define your goals
To wrap up, obtaining global mobility through a second passport can help investors cross borders with ease, and push their business boundaries. But investors or individuals are required to define their global mobility goals to choose the most suitable citizenship by investment program. For more information required in this regard, please visit this page.