Nomad Capitalist, a tax and immigration consulting firm, has revealed the latest rankings for the most powerful passports in 2024, with Switzerland claiming the top spot. Factors contributing to passport strength include visa-free travel, taxation policies, global perception, dual citizenship status, and personal freedom.
The 2024 Nomad Passport Index underscores that passport strength encompasses more than just the number of countries one can visit without a visa. Criteria such as tax obligations, freedom of movement, and regulatory compliance also play crucial roles.
Following Switzerland, other countries in the top ten include Ireland, Portugal, Luxembourg, Finland, the United Arab Emirates, the Netherlands, Norway, Germany, and New Zealand.
Portugal and Ireland share similar rankings across most criteria, with Portugal standing out for its consistent appeal. Finland’s high placement emphasizes its extensive visa-free travel options.
An unexpected development is the United Arab Emirates’ decline from first place in 2023 to a sixth-place tie in 2024. This shift is attributed to changes in UAE tax policies affecting both domestic and overseas company owners.
The Nomad Capitalist team highlights Bulgaria as a country to monitor closely, as its passport has risen significantly in the rankings, largely due to its impending entry into Europe’s Schengen zone.
Meanwhile, Hong Kong has slipped in the rankings, while Macao and China occupy lower positions on the list.
