European passports are among the most powerful in the world - having one opens up a world of opportunities. The benefits of an EU passport are plentiful, including the unrestricted right to live, retire, work, study and run a business in Europe. Here are some of the top benefits of having an EU passport:
One major benefit of an EU passport is that you can travel freely throughout the 27 EU nations. Depending on your specific country of citizenship, you’ll also have visa-free or visa-on-arrival travel to hundreds of countries and territories.
You can also live, work and study in any EU country you desire. With an EU passport, your "neighborhood" consists of the entire European Union, where each country has its own distinct culture and flavor. It’s a wonderful place to be.
Europe is home to many of the world’s most renowned schools universities including Oxford and Cambridge. An EU passport gives you access to free education and/or reduced tuition costs at schools and universities throughout the EU, which is a wonderful EU passport benefit for children.
One of the big benefits of an EU passport is access to universal health care throughout the European Union. While each European country has its own system, basic health care is guaranteed for all citizens and there are different tiers. You’ll also be given an European health insurance card for medical coverage all over the EU. We have a separate article about that here.
Safety and Privacy
An EU passport provides safety and privacy on several different levels.
1) There’s consular protection within the EU for all citizens.
2) The EU has recently introduced GDPR (General Data Protection Regulation), which is one of the strictest privacy laws in the world, protecting citizens rights to privacy when it comes to data usage.
3) Health and safety laws are very rigorous in Europe. The EU has one of the world’s strictest product and food safety regulations as well as an alert system for dangerous products found on the market.
Enhanced safety and privacy is an important benefit of an EU passport.
Financial benefits of an EU passport are key for investors. The EU offers attractive tax incentive schemes for capital investment. Europe has no double taxation (or low tax) agreements with more than 60 other countries (for more details please see this link). EU regulations also offer a layer of taxation privacy that is not available in many parts of the world.
Finally, different countries around the EU offer different tax rates - countries like Bulgaria, Cyprus, Greece, Portugal, Montenegro, and Malta, to name some of them, all offer either favorable tax rates or foreign income schemes that can create an attractive tax environment for your first years living in the country.
As you can see, there is no shortage of benefits when it comes to an EU passport. Not only can you live, work and study in some of the most historically and culturally rich countries in the world, but you can enjoy many unique advantages.
For more information about countries with citizenship by investment programs through which you can obtain an EU passport, please don’t hesitate to contact us.