Good morning, global opportunists! 

Welcome to the 42nd 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:

• Taiwan Announces New, One Year Path to Permanent Residency

• Portugal is Still the Top EU Choice

• Student Visa Extensions & a New Residency Program for Entrepreneurs

• 5 Countries With High Bank Deposit Interest Rates

Let’s go!

UPDATE

Taiwan Offers New Path to Permanent Residency

Taiwan is stepping up its game in the race to attract global talent with the launch of its new Global Elite Card. Announced by the National Development Council (NDC), this card offers highly skilled foreign professionals a fast-track path to permanent residency in just one year—compared to the three years required under Taiwan's existing Gold Card.

Who qualifies?

Foreign professionals earning more than NT$6 million (around $187,000) annually are eligible. The card also extends key benefits, including work permits for spouses and dependents, making it an attractive option for families considering relocation to Taiwan.

Addressing a talent shortage

Taiwan's move comes as the country anticipates a major shortfall in skilled workers by 2028. The government aims to attract 200,000 top professionals to fill this gap and boost its high-tech sectors.

UPDATE

Portugal’s Golden Visa Surges, Again

Portugal’s Golden Visa program, long popular with global investors, saw a record-breaking 83% increase in family applications in 2023. This surge reflects a growing desire for EU residency and access to the Schengen zone, especially as geopolitical tensions rise. In contrast, individual applications grew by 21%, showcasing overall growth for the program.

Family-Centric Appeal

The sharp rise in family applications highlights Portugal's appeal as a safe, high-quality living destination. The country’s robust healthcare system, excellent schools, and warm climate make it an attractive choice for families seeking stability and a higher standard of living.

Global Demand Shifts

Investors from the US led the pack in 2023, overtaking China for the first time. This shift illustrates growing interest among Americans seeking an economic and political "Plan B." With nearly 1.04 million foreign residents, Portugal’s expat population continues to grow as the Golden Visa fuels economic and cultural diversity.

UPDATE

Student Visa Extensions & New Residency Program for Entrepreneurs

South Korea has unveiled new post-study visa options aimed at attracting and retaining international talent. As of October 2024, graduates from Korean institutions can now apply for mobility visas designed to facilitate extended stays for work or further study. This initiative aligns with Korea’s ongoing efforts to boost its global competitiveness by making it easier for foreign students to transition into the workforce after completing their studies.

Key Changes

• The new visa options allow graduates to remain in the country for job-seeking or entrepreneurship for up to two years.

• These measures come as Korea faces labor shortages in sectors like IT, engineering, and healthcare, where foreign professionals can help fill the gaps.

A Growing Hub for International Students

With over 200,000 foreign students currently enrolled, Korea’s education system is becoming an attractive destination for students worldwide. This move is expected to enhance the appeal of studying in Korea, offering a clear pathway from education to employment.

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UPDATE

High Yielding Offshore Bank Accounts to Consider

Looking to park your cash somewhere more lucrative? These countries are offering some of the highest interest rates for bank deposits—but don’t forget to factor in currency debasement.

Mongolia

Get 15%+ interest, but beware of the tugrik’s long history of depreciation.

Turkey

Earn 25–45% on lira deposits, but the Turkish lira’s downward spiral could wipe out gains​.

Armenia

Armenian dram deposits yield 10%+ with a more stable currency performance compared to its neighbors.

Georgia

With 7–11% on lari deposits, Georgia offers a decent balance between high rates and moderate currency risk​.

Cambodia

For a stable option, you can earn 5-7% on USD deposits in Cambodia, where many banks operate in dollars.

MARKET REVIEW OF THE WEEK

Retirement Community Demand in SEA

Southeast Asia is fast becoming a prime destination for retirees seeking affordable yet luxurious living. The 2024 real estate market has caught on, and developers are targeting this growing niche with a mix of high-end and affordable options.

Where’s the action?

Thailand and Malaysia lead the pack, thanks to low costs and excellent healthcare. These countries have seen a rise in retirement communities, especially ones blending leisure with medical care.

Emerging players

Vietnam and Cambodia are making waves as well. Cities like Ho Chi Minh City and Phnom Penh offer affordable living and infrastructure improvements, setting the stage for more retirement-focused developments.

The luxury niche

Affluent retirees are flocking to luxury retirement resorts in places like Bali and Phuket, where wellness, sustainability, and premium services at affordable rates create high demand​.

BOOK OF THE WEEK

The Killing Fields

The Killing Fields by Christopher Hudson is a harrowing account of the Cambodian genocide that took place under the Khmer Rouge regime in the late 1970s. The book follows the story of Dith Pran, a Cambodian journalist and interpreter, as he endures the brutalities of forced labor camps and mass killings orchestrated by Pol Pot's regime. Through the lens of American journalist Sydney Schanberg, who witnesses Pran’s struggles, the book highlights the political turmoil, survival, and devastation that ravaged Cambodia during this period.

The story also explores themes of friendship, loyalty, and the moral complexities faced by outsiders observing such atrocities. Schanberg’s attempts to save Pran, despite the growing chaos, capture the emotional toll the conflict took on those involved. Ultimately, The Killing Fields emphasizes the human cost of war and dictatorship, shedding light on a dark chapter of Southeast Asian history.

THAT’S ALL FOR THIS WEEK

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