3 Cheapest Countries to Buy Citizenship

Global Citizenship on Sale

First Published Date: July 8, 2015

Diversification knows no bounds, so why not diversify your passport portfolio as well? Having citizenship from a second or third country can come really handy if you are an investor or entrepreneur trying to take advantage of global opportunity, or even a corrupt 3rd world country official who is trying to escape and enjoy the millions of dollars you stole.

I will go through a few countries today, but there are so many more countries out there offering citizenship and residency that I can’t possibly mention them all. Do your research if you would like to find out more.

1. St. Kitts and Nevis – You will only need to donate $250,000 or buy a $400,000 real estate property to get citizenship in this two-island paradise. The citizenship application is only 3 pages and takes about six to eight months to process. Citizens can travel to 131 countries visa-free.

2. Antigua and Barbuda – Donate $200,000 or buy $400,000 in real estate property. The process takes three to four months. Citizens can travel to 132 countries visa-free, including Canada and UK.

3. Dominica – Invest $100,000 plus fess and receive citizenship. There is no need to even live there. Citizens can travel 87 countries like the UK, Ireland, Switzerland, Hong Kong, Malaysia, Singapore visa-free, but a visa is required for North America or European countries. Dominica is not to be mistaken with Dominican Republic.

If you are looking for European countries, several countries offer citizenship such as Cyprus, Hungary, Malta, etc., but it will cost you several millions dollars.

Global Credit Crisis and Canadians

Canadians Showing More Caution On Borrowing

First Published Date: March 27, 2009

It is becoming clearer that the average Canadian is cutting right back on borrowing as the global credit crisis continues to exert its hold on the purse strings of both businesses and the individual. In a world where money is now becoming more of a luxury item, people are becoming much more likely to save than to go out and spend money that they do not really have. What is becoming more and more obvious with every new set of figures that is released, is that more and more people are coming around to the idea that this credit crisis is not something that will be here today and gone tomorrow.

It is therefore no great shock that people are seeking to feather their nests in the current climate. With the best will in the world, no one really seems to have any firm idea when things are going to be better. So while people at the beginning of the credit crisis may have taken a more gung-ho attitude and resolved to ride things out without making major changes, it would take a brave or foolhardy individual to look at the pronounced slowdown and assume that things will improve tomorrow, next month or even next year. In such a climate, the only thing that many people feel they can do is hold on to what they have and pray for a boost.

With the figures for 2009 likely to show that the market growth globally for this year has slipped into the negative numbers – the first time that it has happened since the end of the Second World War – there is an absolute necessity to live according to the realities. This in turn is posing problems for governments, though. In order for markets to recover, it is essential that consumers are spending. If consumers are to spend, it is necessary that banks will allow them to borrow. With banks going to the wall in many countries, it is unsurprising that those who remain are keeping a firmer hold on the purse strings. It all adds up to a apocalyptic vision.

Fewer people are buying homes at the moment, and now it emerges that less money is going on retail too. When you are not sure that your job is recession proof, the prospect of speculating in order to accumulate is naturally less attractive. So what does the future hold? If people do not get spending, how will the markets ever recover? What we are likely to see – and there is not a period on this – is a slow, cautious improvement when it happens, which will gradually pick up pace as people gain confidence in the markets. We must hope when this does take place that banks and governments have learned lessons from the chaotic situation which has led us where we are now – and make the changes that need to be made.

To streamline and minimize blog maintenance, I will be discontinuing maintaining the Canadapersonalfinancewebsite.com website (however, I will still hold the domain). I will gradually move all articles from this site to A Dawn Journal. This article originally published on the above website on Mar 27, 2009.

What Are the Top Ten Socially-Advanced Countries?

Canada Ranked World’s 6th Most Socially-Advanced Country

First Published Date: April 19, 2015

The Social Progress Index, an index that was developed by team lead Harvard professor Michael Porter, measures social progress by taking a more holistic understanding approach and complementing traditional measures such as GDP and other indicators. There are 52 elements, from crime to literacy rates and gender equality to accessing information that are tracked by the Social Progress Index.

Here are the top ten countries on the 2015 Social Progress Index out of 133 countries:

1. Norway

2. Sweden

3. Switzerland

4. Iceland

5. New Zealand

6. Canada

7. Finland

8. Denmark

9. Netherlands

10. Australia

Here are some global highlights:

– Canada is the top ranking G7 country and the only G7 country to show high progress.

– Canada gets a high score for tolerance of religious minorities and immigrants and access to advanced education, but gets a low score on access to information and communications, obesity, and protecting the environment.

– Sweden is the top performing country in the EU.

– Costa Rica is the world’s best over-performing country.

– Brazil is the top BRICS performing country. After Brazil comes South Africa, Russia, China and India.

– US is ranked #16, although it has the world’s highest per capita GDP.

– Zimbabwe is 133rd and the worst country on the list.

The World's Top Happy and Sad Countries

Canada Is One of The Top Happiest Countries

First Published Date : April 28, 2015

The World Happiness Index in an index published by the Sustainable Development Solutions Network (SDSN) under the United Nations that measures the well-being and happiness of 158 countries, as they are indicators of a nation’s economic and social development.

Switzerland (7.587) is on top of the list, followed by Iceland (7.561), Denmark (7.527), Norway (7.522), and Canada (7.427). The report assigns scores from zero to ten based on data collected from people. Although Canada is in the fifth position, in terms of score it is close to the other 4 top countries.

Some of the factors the index looks at are income, social support, health, generosity, corruption, and personal freedom. The world’s least happiest countries are Togo (2.839), Burundi (2.839), Syria (3.006), Benin (3.340), and Rwanda (3.465).

The World Happiness Index was first launched in 2102 and an increased number of governments are using this index to research and construct their policies.

Credit Crisis, Canada, Real Estate, and Mortgage

Canada Mortgage

First Published Date: May 9, 2015

Canada has not been immune to the credit crisis that has hit the world over the last eighteen months, but there are many inside Canada and out who feel that of all the major developed nations things have been handled better in Canada than anywhere else. This is down, in no small part, to a sense that Canadian banks have had more sensible lending policies and that panic is something that is not a major part of the Canadian psyche. A recent IMF report has said that Canada is actually specifically well placed to handle any further economic crisis and has applauded the $400billion stimulus plan unveiled in January as being the right amount at the right time. In addition, Canada has been recognized as the last country to succumb to the crisis and is expected to be the first to lift itself out.

What this means for those hoping to buy a house in Canada is that there may never be a better time, if you currently have the borrowing power, to buy one. By taking advantage of the effects of the crisis – admittedly something that causes a moral issue for many – one can find some bargains that will begin to increase in price once the clouds start to lift. The question is, where should you go in order to borrow the money it will take to buy? With Canada less marked than other countries by the crisis – but marked nonetheless, no doubt – the banks are more willing to lend to those who can show credit worthiness than banks in other countries.

Before you decide on a mortgage, the first and most important step is to shore up your own position. This can be done chiefly in two ways. Firstly, it is vitally important to save cash for a deposit, or down payment. If you can place this in a high-yield savings account, so much the better. By putting aside more money, you will cut into how much money you have to borrow when the day comes. This can dramatically change how much you have to pay back, and bring a number of properties within your reach that would have been fantasy purchases otherwise. It will take a bit of time to make significant savings, but the base that this gives you and the difference that it makes will be well worth the wait.

In addition, you should live on credit for a while. Yes, you read that correctly, but do not make the mistake of thinking that this is advice to go crazy with your Mastercard. The reason for this possibly controversial advice is actually fairly sensible. If you make purchases on your credit card and pay them off immediately, you build up a strong credit rating. And the people with the better credit ratings get better mortgages. By  paying off credit card purchases the moment they hit your balance, you will avoid having to pay interest, so there is no penalty for use. It’s a more roundabout way of doing things, sure – but it’ll get you into that house quicker! Try to make sure, too, that you do not have high balances on any lines of credit when you apply for your mortgage – this will badly squeeze your borrowing power.