Many passport rankings concentrate on one factor: visa-free travel.
But passport strength is more complex than this, in response to the tax and immigration consulting firm Nomad Capitalist.
That is why it produces a weighted annual index that analyzes five criteria:
- Visa-free travel — 50%
- Taxation — 20%
- Global perception —10%
- Ability to carry dual citizenship — 10%
- Personal freedom (freedom of the press, mandatory military service, etc.) — 10%
The 2024 Nomad Passport Index states: “Residents of various countries take care of very different requirements to pay tax, live freely, comply with regulations, and avoid scrutiny when traveling. In that regard, the number of nations a passport holder may visit doesn’t tell the entire story.”
Best passports on this planet
Switzerland topped this yr’s rating, followed by Ireland and Portugal.
Here’s the highest 50 list:
A slight corporate tax adjustment in Ireland was greater than offset by its top scores for travel and global perception, in response to Nomad Capitalist’s research team.
“Portugal tied with Ireland in all but personal freedom, emphasizing its regular appeal, while Finland —known for its vast visa-free travel options — now ranks fourth, highlighting the importance of worldwide accessibility,” it said.
However the “standout development” is the United Arab Emirates.
The UAE was No. 1 in 2023, but slipped to a sixth place tie this yr with countries just like the Netherlands, Germany and Recent Zealand, in response to the research team. The drop was brought on by a change in UAE tax policy that affected domestic and overseas company owners, including residents with foreign company ownership, it said.
Bulgaria is one to look at, in response to the team. Its passport rose from forty second within the index to thirty second in two years, largely due to its entrance into Europe’s Schengen zone scheduled to occur in late March, it said.
Hong Kong slipped from forty fourth place in 2022 to fiftieth place this yr, while Macao ranks 69th and China sits much further down the list in one hundred and twentieth place.
The complete list will be viewed at Nomad Capitalist’s website.
Many individuals are curious to understand how their passports compare to their global peers, but that is not why Nomad Capitalist produces the annual rating, it said.
The corporate helps people obtain second, and even third citizenships — otherwise referred to as a “passport portfolio,” said company CEO Andrew Henderson, adding that many achieve this to scale back their tax burdens or to have a back-up residency plan.
