Benefits of Moldovan second passport

Benefits of Moldovan citizenship. The acquisition of a second citizenship could save your life in times of political unrest, civil war or similar situations. In this increasingly dangerous world, acquiring a second citizenship is a wise and future-proofing decision. Not without reason, thousands of international business people, wealthy individuals and families buy an alternative, second citizenship every year. This second citizenship is regarded as an additional life insurance or as a protective shield for the spouse and the children.

In addition, a second citizenship can also serve to lower your taxes and protect your assets. It allows for better protection of assets, greater financial privacy, higher returns, greater personal and financial security, and deferred taxes on pensions and life insurance. For example, opening a foreign bank account with a second nationality is much easier. Such an offshore bank account would allow you to buy securities and funds in financial markets around the world.

If you travel with this extra passport, you will also avoid the entry / exit stamps in your current passport from countries where your government limits travel.

Benefits of Moldovan citizenship

• Visa-free or visa on arrival access to 122 countries and territories. Granted visa-free entry to all Europe´s Schengen Area countries as well as Russia, Turkey and Malaysia.
• Moldovan Citizenship is for lifetime and can include beside the main investor also his dependent family as spouse, children and parents.
• A reasonable contribution amount and a highly efficient application process. Moldovan citizenship can be obtained from a minimum investment of EUR 100,000.
• Full citizenship, with passport rights, for the applicant and included family members
• Easy inclusion of dependent children up to 29 years of age and parents (of either the main applicant or the spouse) from 55 years of age in the application
• Citizenship transferable to future generations
• Citizenship in a state that has entered into an association agreement with the EU and is aiming to become a candidate country for EU membership
• Citizenship in a member state of the Organization for Security and Co-operation in Europe, the World Trade Organization, and many more
• Citizenship in a country that has a continental climate, a world-class wine industry, and picturesque, varied terrain, including forests and rocky hills
• Low tax rates
• The timeframe for the examination of the application will only be 90 days according to the government.
• Dual citizenship is permitted
• No previous education or management experience requirement
• No interview and no mandatory travel is required during application process
• No residency requirement
• Low cost of living

Taxation benefits of Moldovan citizenship

Taxation benefits of Moldovan citizenship: Moldova has one of the most competitive tax systems in the region and has 48 operational tax treaties in place, which safeguard against double taxation with other jurisdictions. Residents of Moldova who do not carry out entrepreneurial activity have to pay tax on income from sources located inside the country, as well as from sources located outside the country.

Real estate and wealth taxes are charged for residents of Moldova. Wealth tax is charged on taxpayer’s wealth in the form of residential real estate, including holiday cottages (except for land plots), if a) the total estimated value is EUR 1.5 million or more and b) the total area is 120 m2 or more. The wealth tax rate is 0.8% of the taxable base.

The standard VAT rate is 20%, while the reduced rate is 8%. The recent fiscal reform established a unique tax rate on the income of individuals and legal entities at the level of 12%.

Business benefits of Moldovan citizenship

Business benefits of Moldovan citizenship: Moldova ranks highly in leading international business-climate rankings. Doing Business 2019: Ranked 47th out of 190 countries and Global Competitiveness Index 2017–2018: Ranked 89th out of 137 countries (an 11-position climb year-on-year, making Moldova “the most improved Eurasian economy started from a low base”). Global Location Trends 2017: Ranked 6th in the world and named a top destination country by estimated jobs per million inhabitants (exceeding Ireland, the UAE, Hungary, Czech Republic, and others).

Free economic zones, offering:

• A 50% decrease in national corporate income tax
• Three (five)-year income tax exemptions if investing USD 1 (5) million
• VAT and excise duties exemption
• Ten-year state warranty for changes in legislation

Industrial parks, offering:

• The ability to change the destination of agricultural land free of charge
• The right to privatize state-owned land for construction at a normative price
• Free allocation of public property assets for the creation of parks, at the owner’s discretion
• A decrease of up to 70% in annual fees related to land or space leasing

Information technology parks, offering:

• A 7% unique tax for the sales income charged by residents