ESWATINI’S LOW RANKING FOR GLOBAL ENTREPRENEURS

MBABANE - Offshore consulting firm, Nomad Capitalist has published the 2021 Nomad Capitalist Index (NPI), pointing out the world’s best passports for entrepreneurs in 2021.

The NPI ranks 199 citizenships on five factors, including visa-free travel, international taxation laws, global perception, dual citizenship, and personal freedom. The NPI’s travel score has been updated to reflect the economic impact of the COVID-19 pandemic. Eswatini is ranked 129th overall, with an even fifth ranking in the five-member Southern African Customs Union (SACU) region. Other SACU members are Botswana, Lesotho, Namibia and South Africa, who are ranked 101, 116, 111th and 99th, respectively. However, the country is still ahead of some of its counterparts in the continent that include Morocco, Ghana, Mozambique.

The country has scored poorly in most of the pillars that include taxation and perception. “While most indexes – and most people – think of a passport only in terms of travel privileges, we realised that citizens of different countries deal with far different requirements to pay tax, live freely, comply with regulations, and avoid scrutiny when traveling,” Nomad Capitalist said. In that regard, the number of countries a passport holder may visit does not tell the whole story. The Nomad Passport Index speaks to those seeking personal freedom and financial prosperity in a changing world by more deeply analysing the true value of each passport, it said.

Luxembourg secures first place in the ranking, maintaining its place at the top of the list for the fourth year in a row. Tied for second are Ireland and Sweden, followed by Switzerland, Belgium, Finland, Portugal, Singapore, the Czech Republic, and the Netherlands. For the tax ranking, Nomad said it relied on data from its network of tax vendors, news sources and tax authorities themselves.

perception

For the perception score, Nomad relied on the World Happiness Report, the Human Development Index, and subjective factors from its networks’ experiences to determine how each country’s citizens are received and recognised. Meanwhile, Nomad Capitalist is said to be a boutique tax and immigration consultancy built for the modern entrepreneur who demands results. It advises six- and seven-figure entrepreneurs on issues of legal off shore tax planning, citizenship and lifestyle planning, and international wealth. The company was founded by perpetual traveller and serial entrepreneur Andrew Henderson in 2012, as a result of his struggles to find a ‘one stop shop’ to assist him in his quest to become a global citizen.

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