Good morning, global opportunists! 

Welcome to the 17th article from The Sovereign Atlas! Every Friday we publish quick updates that benefit your global sovereignty lifestyle. 

Here’s what we’ve got this week:

• Cyprus’ Fast Track Citizenship Explained 🇨🇾

• El Salvador Offering Free Citizenship to 5000 People 🇸🇻

• Spain’s Government Hates Growth, Wealth, and Opportunity 🇪🇸

• How To Find Opportunity Everywhere 🧠

Let’s go!

UPDATE

Cyprus: Fast Track Citizenship

Cyprus is setting a new pace in the EU with its accelerated citizenship plan, designed to attract professionals and integrate them rapidly into its fold. Under the new law, highly skilled individuals can now gain citizenship in just three years, the fastest route in the EU, provided they meet specific criteria including language proficiency and continuous residence.

Fast-track details

• Residency Requirements: Applicants must have legally resided in Cyprus for at least 12 months before applying, with a total of 3, 4, or 7 years of residency in the last decade, depending on the pathway chosen.

Qualifications & Benefits

• Language and Earnings: Eligibility hinges on knowledge of Greek and stable income, with highly skilled professionals needing to earn at least €2,500 monthly.

• Tax Perks: The non-domicile tax program offers significant tax breaks, enhancing Cyprus' appeal to international professionals.

UPDATE

El Salvador Offering Citizenship To Skilled Workers

El Salvador is making headlines with its offer of 5,000 free passports to attract highly skilled global talent. President Nayib Bukele's initiative targets top professionals in fields like science and arts, aiming to stimulate growth and innovation in the country.

Passport Privileges

• Tax Advantages: Immigrants benefit from 0% taxes on moving families and assets, which includes commercial value items like equipment and intellectual property.

Strategic Impact

• Economic and Social Boost: By welcoming foreign experts, El Salvador hopes to significantly impact its societal and future development.

UPDATE

Spain Says Adiós

In a significant policy shift, Spain is ending its golden visa program, which granted residency to foreign real estate investors. Initiated in 2013 to help recover from economic crises, the program is being phased out due to continued hatred of growth and investments within EU member states.

Key Details

• Ending Controversial Program: The decision aligns with criticisms that the visas inflate property prices and facilitate financial crimes.

• Limited Market Impact: Analysts suggest the move will not greatly affect the overall property market, as golden visa transactions are a small fraction of total sales.

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UPDATE

How To Find Opportunities Everywhere

In the dynamic world of entrepreneurship, recognizing opportunities—even in unlikely scenarios—is key. This involves understanding market needs and timing, leveraging personal strengths, and consistently applying a strategic outlook to seemingly ordinary situations.

Learning from the Best

• Engaging with successful entrepreneurs and absorbing their insights through networking and mentorship can unveil hidden opportunities and inspire innovative approaches.

The Geography of Opportunity

• While cities are entrepreneurship hotspots, rural and suburban regions also present unique opportunities due to lower competition and different customer needs.

• Regardless of where you are in the world, there is always a problem that needs to fixed. An inconvenience turned into a convenience.

It takes time and practice to develop an eye for finding opportunities. Once you’ve got it down, there is no limitation to what you can build, acquire, present to the world. With the world being more connected than ever before, you have all the resources and knowledge you need at your fingertips.

MARKET REVIEW OF THE WEEK

Bohol, Philippines 🇵🇭

The Philippine real estate market, including the serene island of Bohol, is seeing an uptick in interest and valuation, signaling a prosperous period for investors and homeowners alike. In 2022, the national residential real estate price index soared by 7.7%, reflecting a robust appreciation in land values​​.

Market Momentum

While the demand for condominiums has surged, resulting in a notable 12.9% price increase over the past year, townhouses experienced a modest decline of 6.8%​. This dichotomy presents a mixed bag of opportunities depending on the property type and location.

Investment Yields

For those looking to park their capital in real estate, the average gross rental yield stood at a promising 5.19% at the beginning of 2024​​. Adjusted for operational costs, the net yields are appealing for both seasoned and novice investors, marking the sector's viability.

Development Drive

Bohol, in particular, benefits from its proximity to major tourist hotspots and the new Bohol-Panglao International Airport, enhancing its appeal for both residential and commercial investments​. The ongoing development in infrastructure suggests a bright future for real estate in the region.

BOOK OF THE WEEK

Storyworthy

Storyworthy: Engage, Teach, Persuade, and Change Your Life Through the Power of Storytelling by Matthew Dicks is a guide designed to help readers improve their storytelling abilities. Dicks, an experienced storyteller and teacher, emphasizes the importance of storytelling in both personal and professional contexts. He provides practical advice on how to discover, develop, and deliver compelling stories. The book aims to transform mundane personal experiences into engaging narratives that captivate audiences.

He introduces several unique techniques such as "Homework for Life," a method that involves noting small moments daily to uncover potential stories. He also covers strategies to enhance storytelling skills like building suspense, incorporating effective hooks, and understanding the audience. Throughout the book, Dicks shares personal anecdotes that demonstrate how storytelling has profoundly impacted his life. These examples serve not only as teaching tools but also as inspiration for readers to harness the power of their own stories.

THAT’S ALL FOR THIS WEEK

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