Greece Ranks 23rd on Most Valuable Passport Index by Nomad Capitalist

The Greek passport is the world’s 23rd most valuable travel document, a ranking it shares with Austria, Hungary and Slovakia, according to an index released recently by Nomad Capitalist, an American company that provides offshore services for expatriates.

The Nomad Passport Index ranks 199 citizenships on five factors, more than any other passport index. It is designed to show the best citizenships in the world to hold on the basis of visa-free travel (50 percent of ranking), international taxation (30 percent of ranking), perception (10 percent of ranking), dual citizenship (10 percent of ranking), and personal freedom (10 percent of ranking).

Sweden tops the list, followed by other European Union nations. A Swedish passport allows visa-free travel to 176 countries. Moreover, Swedish expats can easily “get out of the high taxes in Sweden and go live somewhere else where there are lower taxes without a lot of headaches”, Andrew Henderson, the founder of Nomad Capitalist, said in a video announcement.

“We set out to create the Nomad Passport Index because we saw all of the different rankings of passports out there and realized that everyone in the media and everyone on the Internet was ranking passports on only one criteria and that is their ability to travel”, Henderson said.

According to Henderson, the reality is having a passport is one of a number of privileges as well as responsibilities of being a citizen of another country.

Sweden is followed by Belgium, Italy, Spain, Ireland, Finland, Germany, Denmark, Switzerland and Luxembourg.

The United States passport once billed as the world’s “best” ranks at 35th (tied with Slovenia), below many European countries. According to Nomad Capitalist, the US ranked low due to its taxation stance toward nonresidents and the world’s perception of America.

To see the Nomad Passport Index 2017, press here.