Five Benefits of Having a Second Passport

Five Benefits of Having a Second passport

In an increasingly interconnected world, having a second passport can open doors to a realm of possibilities. From visa-free travel to enhanced business prospects, the benefits of dual citizenship are numerous and far-reaching. Here are five benefits of having a second passport:

Visa-Free Travel Without Delays

One of the primary benefits of having a second passport is the ability to travel visa-free or with visa-on-arrival access to a larger number of countries. This can be particularly beneficial for individuals from countries with limited visa-free travel options.

Business Opportunites

A second passport can enhance business prospects by providing access to markets that may have been restricted or difficult to enter with only one citizenship. It can also facilitate international business transactions and investments.

Personal Freedom

A second passport provides the ability to choose where to live, work or retire based on personal preferences rather than limitations imposed by citizenship.

Residency Options

Some countries offer expedited residency or citizenship pathways to individuals holding certain second passports. This can open up opportunities for living, working or studying abroad with greater ease.

Education and Healthcare

Access to high quality education and healthcare systems in other countries can be an attractive benefit of holding a second passport, particularly for families seeking better opportunities for their children or improved healthcare options.

Ready to take the first step towards a brighter, more global future? Contact Coates Global today for more information on how a second passport can unlock a world of opportunities for you and your loved ones.

Major Overhaul for Portugal’s Golden Visa

Major Overhaul for Portugal's Golden Visa

Portugal’s esteemed Golden Visa program, a popular route for non-EU investors to gain residency in the country, is set to undergo significant changes starting October 2023. These amendments, recently re-approved by the Portuguese Parliament, mark a pivotal shift in the program’s structure and focus.

Since its inception, the Portugal Golden Visa has attracted a substantial number of investors, thanks to its relatively straightforward path to residency and eventual citizenship in Portugal, along with the added benefit of free movement within the Schengen Area. The program has been particularly appealing due to its real estate investment option, which has been a popular choice for many applicants.

However, the upcoming changes signal a strategic redirection of the program. From October 2023, the program will no longer include the option to invest in real estate. This decision is part of a broader effort to address housing shortages and price inflation in high-density urban and coastal areas, which have been partly attributed to the influx of foreign investment through the Golden Visa scheme.

The revision of the program aligns with Portugal’s commitment to channeling investment into areas that are more in need of economic development. By steering investors away from real estate in densely populated areas, the government aims to promote a more balanced regional development and direct investments into sectors that can contribute more significantly to the national economy.

While the exclusion of real estate investment might seem like a drawback, it opens up new avenues for potential investors. The program will continue to offer other forms of investment, such as capital transfer, investment in research activities, and contributions to the arts and national heritage. These alternatives not only align with the government’s economic objectives but also offer investors diverse options to contribute to Portugal’s growth while gaining residency.

The reformation of the Portugal Golden Visa program is a clear indication of the country’s adaptive approach to foreign investment and residency planning. It reflects a balancing act between welcoming investors and addressing domestic concerns. For prospective investors, this change necessitates a reevaluation of their investment strategies in Portugal.

As the October 2023 implementation date approaches, it is crucial for interested parties to stay informed and seek expert advice. The evolving nature of the Golden Visa program underscores the importance of understanding the legal and economic landscape of Portugal, especially for those looking to establish a significant connection with the country.

In conclusion, while the upcoming changes to Portugal’s Golden Visa program represent a significant shift, they also offer new opportunities for investment and involvement in the country’s future. As Portugal continues to refine its policies to reflect its economic and social goals, the Golden Visa program remains an attractive option for non-EU investors seeking residency in a country that is as dynamic as it is welcoming.

UK Revokes Visa-Free Access for Dominica

The United Kingdom has recently made a significant move in tightening its visa regime for citizens of Dominica, signaling growing concerns over the Caribbean island’s citizenship-by-investment program. This development reflects a broader scrutiny by both the UK and the European Union of the Caribbean second citizenship programs, particularly focusing on their due diligence processes.

Dominica’s Citizenship Program Under Scrutiny: Dominica has been particularly highlighted in this context. The island nation, known for its relatively affordable and quick citizenship-by-investment program, has come under fire for allegedly granting citizenship to a wide array of individuals, including those with questionable backgrounds. Concerns have been raised about the lack of rigorous vetting, leading to sanctioned individuals, and those with ties to countries like Iran and Russia, gaining Dominican citizenship.

UK’s Response: Ending Visa-Free Travel In response to these concerns, the UK has taken a decisive step by ending visa-free travel for Dominican citizens. This move comes despite previous assurances from the Dominican government regarding the integrity of their citizenship program. The UK’s decision is a clear indication of its dissatisfaction with the current state of affairs and a call for more stringent measures in vetting applicants.

EU’s Stance and Ultimatum: Similarly, the European Union is closely monitoring the situation. The EU has expressed its apprehensions about the potential security risks posed by the lack of thorough background checks in these citizenship programs. In a stern warning, the EU has given Dominica, along with other Caribbean nations offering similar programs, a one-year period to implement significant changes. Failure to comply could result in the EU revoking visa-free travel privileges for their citizens, a move that would have substantial implications for these countries.

The Future of Caribbean Citizenship Programs: The recent actions by the UK and the EU put a spotlight on the Caribbean citizenship-by-investment programs, questioning their sustainability and future. These programs have been a significant source of revenue for many Caribbean islands, attracting a global clientele seeking a second passport for various reasons, including ease of travel and financial benefits.

However, the growing international concern over security and transparency is forcing these nations to reevaluate and potentially reform their citizenship programs. The focus is now on enhancing due diligence processes to ensure that only legitimate, law-abiding individuals are granted citizenship.

Implications for Investors and the Caribbean Nations: For investors considering Caribbean citizenship programs, these developments underscore the importance of understanding the evolving international landscape and potential future challenges. The tightening of visa regimes could affect the attractiveness of these passports, impacting their value proposition.

For the Caribbean nations, the pressure from the UK and EU presents both a challenge and an opportunity. While there is an immediate need to address the concerns raised, there is also an opportunity to strengthen their programs’ credibility and global standing by adopting more robust and transparent vetting processes.

In conclusion, the UK’s recent decision to end visa-free travel for Dominican citizens and the EU’s ultimatum represent a critical juncture for Caribbean citizenship-by-investment programs. The coming year will be pivotal in determining the future direction of these programs, with significant implications for international mobility, security, and the economies of the Caribbean nations involved.

UK to Introduce Electronic Travel Authorization for Non-EU Visitors

The proposed scheme, called the Electronic Travel Authorization (ETA), will require visitors from countries outside the European Union to apply for permission to enter the UK before they travel. The ETA will be similar to the Electronic System for Travel Authorization (ESTA) used by the United States.

According to the government’s announcement, the ETA will “strengthen the UK’s ability to prevent and control the spread of COVID-19 and other viruses and variants”. The system will also improve the government’s ability to identify potential security threats and ensure that only those who pose no risk to the UK are allowed to enter the country.

Under the proposed scheme, travellers will be required to provide their personal details and travel information, including their passport details, the purpose of their visit, and their accommodation details. The application process will be online, and travellers will receive a decision within minutes.

The ETA will be introduced in phases, with the first phase planned to begin in 2024. The scheme will initially be voluntary, with visitors from certain countries required to apply for an ETA before they can enter the UK. However, the government has stated that it may become mandatory for all visitors in the future.

The introduction of the ETA has been welcomed by some, who believe that it will help to strengthen the UK’s borders and improve security. However, others have raised concerns about the potential impact on tourism and the additional costs and administrative burdens that may be placed on travellers.

In response to these concerns, the government has stated that the ETA will be “simple and straightforward” to apply for, and that the cost will be “reasonable”. The government has also stated that the scheme will be regularly reviewed and updated to ensure that it remains effective and efficient.

Overall, the government’s announcement of the ETA scheme represents a significant step towards strengthening the UK’s borders and enhancing security measures, and will likely have a major impact on international travel to and from the country in the years ahead.

Review: Portugal’s Golden Visa

Review Portugals Golden Visa

Following the announcement of a new law that will limit non-resident investors in Portugal’s booming property market, some of Europe’s most popular destinations for foreign investment are now seeing a drop in demand. The Golden Visa programme, which allows non-EU citizens to gain residency status by purchasing property worth more than €280,000 (£250,000) has been hugely successful for many European countries but there are fears it could lead to a rise in homelessness as those who had planned on selling up now find themselves stuck with an asset they can no longer sell on at the price they were hoping for.

The Golden Visa Programme will be Halted

The Golden Visa programme will be halted and replaced by a new law to prevent housing crisis in Portugal, according to the government.

The so-called ‘golden visa’ programme was launched in 2012 as a way for people from outside the European Union (EU) to get residency permits if they invest at least EUR 280,000 (£250,000) into Portuguese companies or assets. It has been criticised for attracting rich investors who buy property but don’t create jobs or contribute much economically.

The country has seen a major influx of foreign property owners coming in as a result of the scheme

Portugal has seen a major influx of foreign property owners coming in as a result of the scheme. It is one of the most popular places for foreigners to buy property and there is a risk that the country will be flooded with foreign property owners if this continues.

Portugal’s economy is growing faster than almost any other Eurozone country and it needs to stop its domestic market being flooded

The Golden Visa scheme was introduced in 2012 by former prime minister Jose Socrates, who said it would encourage wealthy foreigners to invest in Portugal’s real estate market and help boost the country’s economy. However, since then there has been a major influx of foreign property owners coming in as a result of the scheme – with many buying properties without ever intending on living there themselves.

Those who already have golden visas will still be able to live in Portugal but they may see their benefits cut.

Those with a Golden Visa will no longer qualify for tax breaks and will be subject to the same tax laws as other Portuguese citizens.

It is expected that many of those who have bought into Portugal will sell up now that the law change has been announced, which could put pressure on property prices across Europe

It is predicted that this will be good news for investors looking to buy property in Portugal as it should help to bring down prices and make them more affordable.

There are risks associated with buying investment properties from outside your own country

There are risks associated with buying investment properties from outside your own country. You may not be able to sell it when you want to, or at all. If this happens, then you could end up forced to sell at a loss.

Furthermore, if the property is rented out (as most investment properties are), there may be restrictions on how long tenants can stay in the property and what kinds of rental agreements they sign up for. This means that even if someone wants to rent from you as soon as possible after purchasing their Golden Visa, they might not be able to do so because of these restrictions set by Portugal’s government.

In addition, some countries offer tax benefits for foreign investors who purchase real estate within their borders–but Portugal does not currently offer any such incentives; therefore investors who buy through this program may find themselves paying higher taxes than those who invest locally instead


If you are looking to invest in property overseas, it is important to do your research and understand the risks involved. The golden visa programme was a great opportunity for investors but it has now come to an end in Portugal. This could mean that prices will fall as there are fewer buyers coming into the market from outside Europe who want to purchase their first home or rental property here.

Portugal ends its Golden Visa

Major Overhaul for Portugal's Golden Visa

On February 16, 2023, the Portuguese government announced that it would be ending the Golden Visa program, which has been a popular route for foreign investors to obtain residency in the country. The program had been in place since 2012 and had generated over 10 billion euros in investment during that time. However, concerns about rising housing prices and the impact of the program on the local housing market have led the government to make this decision.

The Golden Visa program allowed non-EU citizens to invest in Portuguese real estate or other approved investments and receive residency permits in return. The program was seen as a way to attract foreign investment to the country and boost the local economy. However, it also led to a surge in property prices, particularly in Lisbon and Porto, which made it more difficult for locals to afford housing.

In addition to ending the Golden Visa program, the Portuguese government also announced measures to address the country’s housing crisis, including restrictions on short-term rentals through platforms such as Airbnb. Under the new regulations, properties in Lisbon and Porto can only be rented out for a maximum of 90 days per year, while properties in other areas can be rented out for up to 120 days per year.

These measures are intended to encourage more long-term rentals and make it easier for locals to find affordable housing. The government has also announced plans to build more social housing and to introduce tax incentives for landlords who offer long-term rental contracts.

While the end of the Golden Visa program may be disappointing for foreign investors, it is important to note that Portugal remains an attractive destination for investment. The country has a stable political and economic environment, a high standard of living, and a favorable tax regime for foreign investors. The government’s efforts to address the housing crisis may also make it a more attractive destination for those who are looking to live and work in the country long-term.

In conclusion, the end of the Golden Visa program and the government’s efforts to address the housing crisis in Portugal are significant developments that are likely to have an impact on the country’s economy and property market. While there may be some uncertainty in the short-term, these measures are intended to create a more sustainable and affordable housing market, which may ultimately make the country a more attractive destination for foreign investment and long-term residency.

How Much Do I Need to Invest in Greece for a Golden Visa?

How Much Do I Need to Invest in Greece for a Golden Visa

The Greek Golden Visa Program, which was established in 2013, offers a five-year residence permit in exchange for a minimum real estate investment of €250,000 in Greece.

In April 2023, this investment amount will increase to €500,000 for properties in Athens only, but there will be no change in the investment amount if you purchase a property outside Athens.

Your family is welcome to participate in the residency program. You can live in Greece and travel throughout the Schengen area without a visa thanks to the Greek Golden Visa. We at Coates Global have experience in the market because we have assisted hundreds of families in finding the ideal property in Greece and obtaining their Golden Visa. Before you decide, take the first few steps of your journey by learning everything there is to know about the Greece Golden Visa program, including who is eligible to apply, what the investment requirements are, and all other specifics. Let’s start the process.

Benefits of the Greece Golden Visa

Compared to other Golden Visa programs, obtaining a Greek Golden visa residence permit has a number of advantages.

  • Visa-free movement within the Schengen region
  • EUR 250,000 is a comparatively low minimum investment amount.
  • Family members, both immediate and extended, are also eligible.
  • Tax advantages for both residents and non-residents of Greece
  • There is no minimum duration of stay requirement.
  • 5-year permit for immediate residence.
  • A remote application option.

How to Apply for the Golden Visa Greece

The Greek Golden Visa application procedure is not too complicated. Here are the procedures:

  • Choose your investment strategy.
  • Open a Greek bank account and obtain a Greek non-resident tax identification number.
  • Purchase real estate or make your chosen investment.
  • Prepare all of the paperwork required to apply for a Golden Visa.
  • Visit Greece and provide biometric data to the appropriate authorities there.

You’ll be given a Golden Visa once your application has been accepted. The law governing the Greek Golden Visa now permits remote application, including the actual collection of residence permits. Investors will only need to travel to Greece once to submit their biometric data, along with their families.From submission to approval, the application process can take one to two months.

Documents Required to Apply for a Greece Golden Visa

You must submit the following paperwork in order to apply for the Greek Golden Visa program and finish the above steps:

  • Application for the Golden Visa in Greece.
  • Passport photos from recently. Use the handy iVisa online photo service if you don’t have one.
  • Genuine passport
  • A receipt for the necessary government and visa fees.
  • Proof of health insurance coverage in Greece for you and each applicant’s family members.
  • Proof of the source and amount of the investment’s funding.

Additional records depend on the investment, such as a real estate purchase agreement, contracts for investments made in corporations, or a certificate from the Land Registry.

Your documents must be translated into Greek by a Greek lawyer or the Ministry of Foreign Affairs translation service in Athens.

Getting Greece Citizenship through the Golden Visa

You will be given a Golden Visa for Greece as long as you maintain the investment, therefore you visa is renewable every five years. Contrary to the majority of other nations that issue Golden Visas, Greece does not require you to reside there in order to renew your residence permit.

After seven years, you may submit an application for Greek citizenship. You must, however, actually reside in Greece and pay taxes in order to be eligible. An applicant can only finish this procedure if they can show that they have assimilated into Greek society. For instance, passing an exam is required to demonstrate that you have a basic understanding of the Greek language.

Who may Submit a Greece Golden Visa Application?

Greek Golden Visa applicants must fulfill the following requirements:

  • 18 years of age or older
  • You have never been convicted of a crime anywhere you’ve lived.
  • Make a sizable investment in Greece’s economy (see options below).
  • Obtain medical insurance for each member of your family coming with you
  • from a Greek insurance provider.
  • Golden Visas are available to the relatives of Greek nationals.

The Golden Visa application can include family members, such as:

  • Your spouse
  • Children under 21 who are not married
  • Parents who are dependent on you or your spouse.
  • Children studying between the ages of 21 and 24

These family members will have the same privileges as the visa holder and be able to visit any Schengen country without a visa.

Is The Greece Golden Visa Appropriate For You?

You might believe that you require a second passport in order to accomplish your personal and professional objectives, but that isn’t always the case.The Greece Golden Visa is the most flexible European residency program in terms of your actual investment and has the lowest investment requirement.

Furthermore, despite its relatively high property taxes and lack of experience with naturalizing long-term residents, Greece may still be a desirable destination for some investors looking for the best possible treatment.As always, you should seek professional advice before deciding which investment is best for you or where to apply for residency.

Whether it’s Greece or another country with a Golden Visa, we can help you sort it all out. Let’s talk.

Important Changes to the Golden Visa in Portugal

Review Portugals Golden Visa

Potential Golden Visa applicants – the Portuguese Government is introducing some major changes to its Golden Visa programme (known in Portugal as ARI).

The new rules will limit the number of Golden Visas granted in the cities of Lisbon and Porto, as well as in other coastal areas, including the Algarve. This is because Portugal now wishes to encourage more foreign investment in its interior regions and the islands of Madeira and Açores.

These changes will start to come into effect on 1 July 2021, when they will be introduced in phases.

The decision to promote more foreign investment in low-density regions (particularly in the areas of urban requalification, cultural heritage, productive investment, activities of high environmental or social value and job creation) was approved within the scope of the Portuguese State Budget for 2020.  This has been on stand-by since the start of the pandemic, but the Portuguese Government has now decided to move forward, whilst still accepting applications to renew residence permits already granted.

Due to the current crisis and the importance of Golden Visa investments to the real estate market, the Government will introduce a transitional period to allow the sector to adapt, rather than launching the new criteria at the beginning of 2021 as originally intended.

Although the restriction of the Golden Visa to the interior of the country (or to low density real estate investments) begins in July 2021, it will not start immediately, but will be introduced gradually up until the end of 2022.

During the transitional period, those interested in obtaining residence permits in exchange for making investments in real estate in the metropolitan areas of Lisbon, Porto and the coast can continue to benefit from the current regime. However, the monetary requirements for access to Golden Visas will become progressively higher, and at the same time the possibility of applying to metropolitan and coastal areas will gradually be reduced. It has not yet been disclosed what the new investment amounts will be.

With this in mind, we strongly advise all potential Golden Visa applicants who wish to invest in Lisbon, Porto or the coast to make their Applications as quickly as possible, before the changes take place.

Chinese investors are seeking new investment opportunities in Portugal under the Golden Visa programme

Chinese investors are seeking new investment opportunities in Portugal under the Golden Visa programme
The exponential awareness of Portugal’s Golden Visa programme has increased the number of investors, specifically Chinese investors, who are flocking to secure the best international investments in addition to safeguarding their family’s future.
Statistics from SEFSTAT reveal that an overall 480,300 worldwide nationals applied to Portugal’s Golden Visa programme between June 2017 – June 2018 with 25,377 of these main applicants coming from both Hong Kong and China. This recent survey confirms that when combined, nationals from Hong Kong and China are one of the leading national groups to apply under Portugal’s Golden Visa programme, running close behind Brasil and other South American countries.
With flexible and accessible investment opportunities, Portugal has become one of the most popular Golden Visa programme in the market. With a minimum investment of €280,000 in real estate, applicants and their family members can obtain a residency permit to Portugal that enables them to live, work and attend educational institutions. Benefits also include no extra tax on income both in Portugal and in the applicant’s home country, visa-free travel to the Schengen countries, no residential requirement and if the investment is in property, applicants have the option to rent it out. The highlight of applying under Portugal’s Golden Visa programme is that applicants and their dependants can obtain a permanent visa within 5 years and citizenship status within a year thereafter.
For more finite details and to explore the opportunities of investing in Portugal, please feel free to contact one of our representatives on 0207 799 1606 or alternatively, email

Portugal’s changes to rental income tax

With the new state budget proposed by the Portuguese Government for the year 2019[1], the taxes for all rents received through rental agreements for residential purposes have undergone some changes. Such changes could see the previous rate of the 28% of income tax being reduced to the following:

– Rental agreements with a minimum period of at least 2 years and up to 5 years may see a reduction to 26%. Please note that per every renewal of a rental agreement, the tax reduces by 2%. The income rate, however, can only be limited to 14% and can go no lower;

– Rental agreements with a minimum duration of 5 years and a maximum of 10 years may see a reduction to 23%. With such rental agreements, for every renewal the tax reduces by 5%, but will go no lower than a 14% rate;

– Rental agreements with a minimum of 10 years and a maximum of 20 years may see a reduction to 14%. In this case, it is not possible to reduce the tax any further;

– Rental agreements with 20 years+ may see a reduction below 14% to 10%. In such cases, there is no possibility to reduce the tax any further.

For all the above rental agreements, it is key that the landlord must effectively communicate when the agreement(s) have been signed and pay the respective stamp duty (10% of the monthly rent to be paid by the tenant) to the local tax office. From the moment that the registration of the rental agreement is concluded as mentioned, the tax rate of each invoice is to be issued by the landlord to the tenant with the automated tax reduction.

The primary reason that the Portuguese Government have taken such measures is to promote the residential renting market for Portuguese nationals and reduce the amount of properties for the short-term rental market.