In an increasingly globalized world, more and more individuals are seeking ways to secure a second passport. Whether for expanded travel freedom, financial opportunities, or a safety net, citizenship by investment (CBI) programs have become a popular choice.

In the Good Life Collective, we frequently discuss second citizenships and residency programs, as many of us are expats who have moved to have a better life for their families and are continuously looking to optimize their situation. One of these optimisations and strategies to future-proof your family’s situation is to obtain a second citizenship.

Here’s an overview of some of the leading options currently available, from Caribbean islands to European nations.

Why Consider a Second Citizenship?

A second citizenship can be a game-changer for many individuals, offering a variety of benefits that go beyond mere travel convenience. In today’s interconnected world, having a second passport can provide access to opportunities that might otherwise be unavailable. Here are some of the key reasons why individuals choose to pursue citizenship by investment:

1. Expanded Travel Freedom: Many CBI programs provide visa-free or visa-on-arrival access to numerous countries around the world. This can be invaluable for business people, frequent travelers, or anyone looking to avoid the hassle of applying for visas. For instance, passports from countries like St. Kitts, Grenada, and Malta offer access to over 150 countries, enabling seamless travel for work or leisure.
2. Financial and Business Opportunities: A second citizenship can open doors to new financial opportunities, including tax benefits, greater banking flexibility, and access to international markets. Some countries offer more favorable tax regimes, which can help individuals and families protect and grow their wealth. Additionally, second citizenship can facilitate easier establishment of businesses abroad, making international trade and investments far more accessible.
3. Political and Economic Stability: For individuals living in politically unstable regions, a second passport can provide an essential safety net. It offers an escape route in times of economic collapse, civil unrest, or changes in government policies. Having citizenship in a more stable country provides peace of mind, ensuring that individuals and their families have a secure place to go if their home country becomes unsafe.
4. Better Quality of Life: Many CBI programs offer access to countries with a high quality of life, including excellent healthcare, education, and overall living standards. Malta, for example, is a member of the European Union, which means its citizens can live, work, and study anywhere in the EU. This can be particularly appealing for families looking to provide better opportunities for their children.
5. Legacy and Generational Benefits: Citizenship by investment can also be passed down to future generations, offering a lasting legacy for children and grandchildren. By securing a second passport, individuals can ensure that their family will continue to benefit from the advantages of citizenship, including enhanced mobility and access to international opportunities.
6. Access to the United States: Some CBI programs, such as Grenada’s, provide access to the United States through the E-2 visa. This visa allows citizens to live and work in the U.S. for a period of time, making it an attractive option for those who wish to maintain ties with the United States or have business interests there. This can be particularly useful for individuals who may have renounced U.S. citizenship but still wish to have a legal pathway back into the country.
7. Tax Avoidance and Wealth Protection (Controversial): One of the more controversial reasons individuals pursue a second citizenship is for tax avoidance or wealth protection. Some countries offer lenient tax regimes with no global income tax, no inheritance tax, or very low capital gains tax. This can be a huge draw for high-net-worth individuals looking to minimize their tax burdens legally. However, this can also draw criticism, as some view these practices as undermining the tax systems of one’s home country. It’s important to carefully evaluate the ethical considerations and the potential legal scrutiny that may accompany such actions.
8. Privacy and Anonymity (Controversial): Another reason that can be seen as controversial is the desire for greater privacy and anonymity. Some individuals acquire a second citizenship to protect their identity, shielding themselves from prying eyes, whether it’s creditors, potential lawsuits, or even the media. While for some, this is a legitimate need for safety, others see it as a way to hide assets or avoid accountability. The anonymity that a second passport can provide may come with moral and legal implications, especially if used to evade legal responsibilities.

Considerations for Families

Citizenship by investment can be particularly appealing for families seeking better opportunities for their children. Many CBI programs allow applicants to include their dependents, such as spouses, children, and even parents, within a single application. This makes it a more economical choice for families who are looking for a comprehensive solution.

A second citizenship can offer children access to high-quality education systems, including international schools and universities, and allow them to grow up in a safer and more stable environment. Additionally, having multiple citizenships can give young family members a distinct advantage as they begin their professional careers, opening doors to internships, jobs, and networking opportunities across different countries.

For families, the ability to live, work, or study anywhere within certain regions, like the European Union, can dramatically increase the quality of life. Malta’s CBI program, for example, allows families to reside anywhere within the EU, which means access to top-tier healthcare and education services for their children. Moreover, passing down citizenship to future generations ensures that your children and grandchildren continue to benefit from increased mobility and broader opportunities.

Case Studies: Real-World Examples

To illustrate the diversity of motivations and benefits associated with CBI programs, let’s consider a few real-world examples of individuals and families who have pursued a second citizenship:

• The Businessperson Seeking Mobility: A successful entrepreneur from a politically unstable country opted for St. Kitts citizenship. The motivation was clear: expanded mobility for business purposes. With visa-free access to over 150 countries, they were able to conduct international business more efficiently, without being bogged down by lengthy visa application processes.
• The Family Seeking Stability: A young family from a South Asian nation chose Malta’s CBI program to secure a better future for their children. Concerned about the quality of education and healthcare in their home country, they wanted to provide their children with access to the best schools and healthcare facilities that Europe could offer. By becoming Maltese citizens, the family gained the ability to reside anywhere in the EU, providing their children with unparalleled educational opportunities and a secure upbringing.
• The Retiree Looking for Tax Benefits: An affluent retiree from North America sought second citizenship in Dominica to take advantage of the favorable tax regime. With no inheritance or global income tax, Dominica offered a financially advantageous environment for managing their wealth during retirement. While Dominica didn’t provide the E-2 visa to the United States, the retiree was more focused on protecting their assets and ensuring that their estate could be passed down with minimal taxation.
• The Investor Wanting Access to the U.S.: An investor from the Middle East, who previously renounced U.S. citizenship for tax reasons, opted for Grenada’s CBI program. The key factor was Grenada’s E-2 visa treaty with the United States, allowing them to re-establish a foothold in the U.S. without fully committing to the obligations of U.S. citizenship. This arrangement enabled them to maintain business operations in America while still enjoying the tax benefits of residing in a more lenient jurisdiction.

These case studies highlight the varied reasons individuals and families pursue CBI programs, from securing a better future for children to protecting wealth and gaining business advantages. Each journey is unique, and the motivations often reflect a combination of personal, financial, and professional aspirations.

St. Kitts

Widely known for being one of the most affordable options, St. Kitts recently increased its cost from $150,000 to $250,000. This small Caribbean island has long attracted those seeking economic citizenship, primarily due to its straightforward process and relatively low minimum investment. St. Kitts also offers visa-free or visa-on-arrival access to over 150 countries, making it an attractive option for those seeking greater travel freedom.

Grenada

Grenada is gaining popularity due to its relatively low cost, which ranges from $200,000 to $235,000. One of Grenada’s standout features is its access to the E-2 visa, which allows citizens to apply for a non-immigrant visa to live and work in the United States. This benefit can be particularly useful for those who may want to re-establish connections with the U.S. after renouncing a previous citizenship. Grenada also offers visa-free access to over 140 countries, making it a strong contender for those seeking global mobility.

Dominica

Dominica offers one of the least expensive CBI programs, requiring a $200,000 donation to its state fund. While it’s the cheapest option among the Caribbean nations, it lacks certain benefits that other countries like Grenada offer, such as the E-2 visa for the U.S. However, Dominica provides visa-free or visa-on-arrival access to more than 140 countries, which still makes it a decent option for those primarily interested in travel opportunities and economic citizenship.

St. Lucia

St. Lucia presents another Caribbean option, with a total investment cost of around $240,000. It is known for its favorable asset protection benefits, providing a secure environment for wealth. However, when compared to St. Kitts or Grenada, St. Lucia falls short in terms of travel benefits, offering fewer visa-free destinations. Despite this, it remains a viable option for those specifically interested in financial security and wealth management.

Turkey

Turkey’s CBI program typically requires a substantial investment of around $1,000,000, as it involves purchasing property worth at least $400,000 and making an additional $500,000 contribution. The high cost means it may not be the most logical choice unless there is a strong personal or business reason to establish a connection in Turkey. However, Turkish citizenship comes with the advantage of a diverse and strategically located nation that bridges Europe and Asia, as well as offering visa-free or visa-on-arrival access to over 110 countries.

Malta

Malta is a popular choice for Europeans looking to secure a second passport. The cost for Maltese citizenship is approximately $660,000, though the price can rise significantly if the residency requirement of three years is not met, nearing $800,000 or more. Malta’s appeal lies in its EU membership, which allows its citizens to live, work, and study anywhere within the European Union. This benefit, alongside its strategic location and excellent quality of life, makes Malta an attractive yet costly option for those seeking European citizenship.

Montenegro

Montenegro has recently changed its requirements for citizenship by investment, shifting its focus toward developmental projects. The standard investment is around €450,000 (approximately $500,000), although a smaller option of €250,000 is available for projects in more remote areas. However, it’s worth noting that investments in government-approved projects often come with inflated costs or additional caveats, making this option potentially less appealing. Despite these drawbacks, Montenegro remains a gateway to Europe, offering visa-free travel to over 120 countries and a relatively fast-track process for citizenship.

Conclusion

When considering citizenship by investment, it’s crucial to weigh the benefits against the costs and the specific needs of your situation. Each country offers different advantages, whether it’s greater mobility, financial security, or the potential for U.S. re-entry through visas like Grenada’s E-2. The advantages of a second passport are significant, from expanded global mobility and financial opportunities to providing a safety net for you and your family. However, the decision can also be controversial, especially when motivations such as tax avoidance or anonymity are considered. Careful evaluation of the residency requirements, associated costs, ethical considerations, and the overall benefits will help in making the best decision for you and your loved ones. The world of citizenship by investment is diverse, offering many opportunities for those looking to expand their global footprint and secure greater freedom.

Have you explored other options? Looking forward to hearing from you in the comments section.

Malta’s Beverage Container Refund Scheme (BCRS) is a classic case of good intentions executed with breathtaking incompetence—and possibly even a sprinkle of opportunism. On paper, the scheme sounds noble: incentivize recycling by offering a small refund for returned beverage containers. In reality, it’s a poorly disguised mess that preys on the most vulnerable members of society. Filipinos and other migrant workers, desperate to scrape together a few extra euros, are often seen hauling massive bags of empty plastic bottles, walking along poorly lit roads or swerving precariously through traffic on bikes. It’s a disturbing sight—something you’d expect in a Dickensian novel, not in a supposedly modern EU country.

The real kicker here is that this scheme seems tailor-made to exploit those with no better options. Who else would bother spending hours scouring bins and public spaces for discarded bottles worth a mere 10 cents each? Meanwhile, the companies that run the BCRS are cashing in on the infrastructure paid for by the public, and no one is asking any serious questions about how the money flows. For the migrants, the risk isn’t just physical—dodging traffic while carrying back-breaking loads—it’s also economic. Let’s not kid ourselves: the time they spend collecting bottles rarely adds up to a decent hourly rate. It’s modern-day exploitation dressed up as environmental policy.

The environmental angle is particularly galling. Malta’s roads, already infamous for their lack of pedestrian safety and adequate lighting, now play host to people risking their lives for pocket change. The government pats itself on the back for encouraging “sustainability,” but where’s the accountability for the larger systemic failures? Why aren’t employers and the state stepping in to provide better work opportunities for migrants, rather than leaving them to pick up the literal scraps of society? Even more infuriating, the same authorities that trumpet the scheme’s success don’t seem to care about the human cost of their so-called eco-friendly initiatives.

To me, the BCRS is less about reducing waste and more about shifting responsibility away from the corporations producing all this plastic in the first place. It conveniently puts the burden on individuals—many of whom have no other means of income—while those higher up the food chain profit off the illusion of “green progress.” It’s exploitative, shortsighted, and deeply unfair, and unless this scheme is overhauled to provide real incentives and better conditions for everyone involved, it’s nothing more than a scam hiding behind a thin veneer of sustainability.

The companies behind Malta’s BCRS scheme are essentially running what looks like a state-approved racket. Here’s the breakdown: every beverage container sold in Malta comes with a 10-cent deposit that you, as the consumer, are supposed to get back when you return the empty bottle or can to a designated recycling machine. On the surface, it seems like a closed-loop system—what comes in goes out. But in practice, it’s a one-sided cash cow for the companies managing the scheme.

First, let’s talk about the unclaimed deposits. Not everyone returns their bottles. Some are too busy, some don’t care, and others simply forget. That unclaimed deposit money doesn’t go back to consumers; it stays with the companies managing the scheme. Considering Malta’s population and its staggering levels of plastic consumption, this easily amounts to millions of euros in “free” money for these companies. Essentially, they’ve monetized public apathy or inconvenience.

Then there’s the recycling infrastructure itself, which is funded through various public and private streams. Whether it’s EU funds or government subsidies, the public foots a significant portion of the bill for setting up and maintaining the system. Yet the operational profits—be it from unclaimed deposits, sales of recycled materials, or the handling fees charged to beverage producers—flow straight into private pockets. The public pays twice: once at the point of sale through the deposit fee, and again indirectly through taxes or levies used to prop up the system.

And let’s not forget about the corporate greenwashing. Beverage companies love the BCRS because it lets them sidestep real responsibility for the mountains of plastic they churn out. They contribute a nominal fee to the scheme but avoid investing in more sustainable packaging or proper waste management systems. Meanwhile, the recycling companies profit off the illusion of “circularity” while doing little to address Malta’s larger waste management crisis.

So, the companies running the show are cashing out by turning the deposit system into a profit-generating machine. They benefit from unclaimed funds, publicly funded infrastructure, and a steady stream of recyclable materials they can sell. Meanwhile, consumers, migrant workers, and the environment shoulder the real costs. It’s a masterclass in privatizing profits while socializing burdens.

How about the fact that BCRS Ltd is a non-profit, doesn’t that mean that it’s a noble organisation, you might ask?

Ah, the “nonprofit” label—it’s a clever shield, isn’t it? Yes, Malta’s BCRS operator is technically a nonprofit, but that doesn’t mean there’s no money flowing back to the beverage companies or that they’re not benefiting handsomely from the system. Let’s pull back the curtain a bit.

Nonprofit status doesn’t mean the organization can’t make money—it simply means they don’t pay out profits as dividends to shareholders. But that money still goes somewhere, and in this case, it’s often reinvested in ways that benefit the very beverage companies behind the scheme. Remember, the BCRS in Malta is controlled by the beverage industry itself. The board of the nonprofit includes major beverage producers and importers, meaning they’re the ones deciding how the funds are used. Whether it’s fancy new equipment, administrative expenses, or “education campaigns,” the same companies calling the shots are the ones indirectly benefiting from these allocations.

And let’s not forget the unclaimed deposits—millions of euros in uncollected 10-cent fees. While the nonprofit claims to reinvest these funds into the system, the lack of transparency leaves a lot of room for doubt. How much of that money goes to furthering the scheme’s goals versus, say, bolstering the operational framework that primarily serves the interests of the beverage industry? For instance, infrastructure improvements might reduce the companies’ long-term costs, or a new recycling plant might benefit their bottom line by processing materials more efficiently.

Even if the money isn’t directly flowing back to the companies as profit, the scheme still saves them from bearing the true cost of the environmental damage their products cause. Instead of investing in real sustainability, like biodegradable packaging or reduced plastic production, they’ve passed the burden onto consumers and the nonprofit system. And since the government has mandated the deposit scheme, these companies get to position themselves as eco-friendly heroes without facing stricter regulations or taxes on their unsustainable practices.

So while technically the nonprofit might not directly funnel cash to beverage companies, it operates within a framework designed to protect and benefit them. It’s like setting up a system where you control the purse strings, get the PR boost of being “green,” and still avoid making meaningful changes. Call it nonprofit in name, but the corporate interests pulling the strings are the ones that come out on top.

What Should Be Done Instead?

Malta’s environmental and public health crises are deeply intertwined, and addressing them requires more than surface-level fixes like the BCRS. The real solutions lie in tackling the root causes of waste and unhealthy behaviors. Here are some ideas that could make a genuine difference:

1. Promote Local, Sustainable Diets: The Maltese diet has shifted away from its Mediterranean roots, which traditionally featured fresh vegetables, legumes, and olive oil, to one overloaded with processed foods and takeaway meals. Reviving traditional cooking practices through education and incentives, like subsidies for local farmers and community cooking workshops, could reduce reliance on heavily packaged, imported foods. This would also cut down on plastic waste and improve public health.
2. Encourage Refillable Packaging Systems: Instead of relying on schemes like the BCRS, Malta could adopt widespread refillable systems. Beverage companies could be mandated to sell drinks in glass bottles with a proper deposit system for reuse, or refill stations could be placed in supermarkets for water, soft drinks, and even household products. These systems have worked in other countries and would significantly reduce single-use plastic.
3. Tax Unhealthy and Over-Packaged Products: Much like taxes on tobacco, imposing higher taxes on sugary drinks, fast food, and excessively packaged goods could discourage their consumption. The revenue generated could fund health and environmental initiatives, like better infrastructure for walking and cycling or subsidies for healthier food options.
4. Educate and Empower Young People: Schools in Malta could place a much stronger emphasis on environmental education and healthy living. This could include programs on waste reduction, nutrition, and cooking skills. Children and teens are often the most receptive to change and can influence their families’ habits over time.
5. Improve Infrastructure for Active Lifestyles: Malta’s roads and urban planning discourage walking and cycling, which not only limits healthy activity but also worsens car dependency and pollution. Building safe pedestrian pathways, lighting up rural roads, and establishing proper bike lanes could transform how people get around. Active lifestyles aren’t just good for physical health—they also reduce reliance on takeaway culture and the associated waste.
6. Hold Producers Accountable: Malta needs stronger laws to make producers responsible for the waste they generate. Extended Producer Responsibility (EPR) schemes could require companies to bear the full cost of collecting and recycling the waste their products create. This would force them to rethink packaging and reduce plastic use at the source.
7. Community-Driven Solutions: Empowering local communities to take charge of waste reduction and healthier living could have a significant impact. Initiatives like urban gardens, zero-waste shops, and cooperatives for bulk buying healthier foods would not only reduce waste but also foster social connections and resilience.

In essence, Malta needs to shift from treating symptoms to addressing systemic issues. It’s not just about managing waste more effectively; it’s about rethinking how the country eats, shops, and moves. Combining sustainable environmental practices with a push for healthier lifestyles could reduce obesity, cut plastic consumption, and create a more resilient society. It’s ambitious, but without systemic change, Malta risks being buried under a mountain of its own plastic and health issues.

The BCRS scheme in Malta is a textbook example of how good ideas can be warped to serve corporate interests while leaving society to pick up the pieces—literally and figuratively. Cloaked in the guise of environmental responsibility, it exploits the most vulnerable members of the community, shifts the burden of waste management onto consumers, and provides a convenient smokescreen for beverage companies to avoid real accountability. Nonprofit status or not, the system ultimately reinforces a framework that benefits the corporate players who profit from the plastic economy while creating new hardships for everyday people. If Malta truly wants to tackle its waste crisis, it’s time for a hard look at the human and systemic costs of this scheme, and for a shift toward policies that hold the real polluters to account. Until then, the BCRS remains less about sustainability and more about sustaining the same exploitative, business-as-usual approach.

Barcelona’s vibrant food scene is as diverse as it is delicious, and nowhere is this more evident than in its bakeries. Whether you’re looking for artisanal bread, buttery croissants, or something a little more adventurous, this city has you covered. Below, we’ve gathered some of the absolute best bakeries in Barcelona that you must visit to indulge in all things freshly baked.

1. Origo: For Bread Lovers

If you’re a lover of sourdough and rustic loaves, Origo is a must-visit. Nestled in the barrio of Gracia, Origo has made a name for itself as a true paradise for bread enthusiasts. Their commitment to high-quality ingredients and long fermentation processes makes their bread not only delicious but also healthy. The crusty loaves here are the perfect combination of crunch and softness, offering an authentic taste that keeps you coming back for more. You can also buy freshly brewed coffee there. Be prepared for lines on the weekend.

2. OZ Bakery: A Hidden Gem

Tucked away from the main tourist areas, OZ Bakery is a hidden gem that locals swear by. This bakery offers a fantastic range of artisanal baked goods, but it’s their rye bread that steals the show. It’s rich, hearty, and full of flavor—a perfect accompaniment to cheese or charcuterie. OZ Bakery also offers an array of pastries, including fluffy cinnamon rolls that are simply irresistible.

3. Brunells: Tradition Meets Modernity

One of Barcelona’s oldest bakeries, Brunells has been operating since 1852, and it’s still one of the best places to go for a taste of traditional Catalan baking. Brunells masterfully blends tradition with modern innovation, offering classic treats like ensaimadas and a rotating selection of creative pastries. Their attention to detail is evident in every bite, making this bakery a staple for those who love the mix of old and new.

4. Patisserie Hoffman: The Croissant Queen

No bakery list would be complete without mentioning Patisserie Hoffman, a place that has arguably set the bar for croissants in Barcelona. Their mascarpone croissants are nothing short of legendary—a light, buttery pastry filled with creamy mascarpone that melts in your mouth. Each bite is perfectly balanced, making it easy to see why these croissants are hailed as some of the best in the city. Hoffman’s offerings are not limited to mascarpone, though; they have a range of inventive flavors that will have you wanting to try them all.

Indulge in Barcelona’s Baking Magic

These bakeries are just a glimpse of the incredible baking talent scattered throughout Barcelona. Whether you are seeking the perfect loaf of sourdough, a slice of tradition, or a croissant that will leave you speechless, Barcelona’s bakeries are sure to delight. Make sure to stop by Origo, OZ Bakery, Brunells, and Patisserie Hoffman on your next visit, and experience the magic of fresh, local baking.

So, which bakery are you heading to first?

As of late 2023, Portugal has declared the termination of two of its most significant residency and tax programs, the Non-Habitual Residency (NHR) and the Golden Visa. This decision signifies a major shift in Portugal’s immigration and taxation policy, which has been a magnet for expatriates and investors worldwide.

In this article, I’ll delve into the essence of these programs, the rationale behind their discontinuation, and the potential aftermath on Portugal’s socio-economic landscape.

The NHR and Golden Visa Programmes: A Brief Recap

The NHR programme was an appealing tax regime for expatriates, offering reduced tax rates on foreign income for a decade. On the other hand, the Golden Visa programme provided a pathway to residency through investments, predominantly in real estate, with a notable option of family inclusion.

Catalysts for Change

The termination of these programs comes as a response to mounting housing affordability issues and an inflated real estate market. The Golden Visa, particularly, exacerbated property prices in urban hubs like Lisbon and Porto, creating a ripple effect of housing unaffordability for locals​​. Moreover, the NHR program faced criticism for fostering a biased inflation in the housing market, making it unsustainable​. The termination of these schemes aligns with a broader objective to alleviate the housing crisis and curtail real estate speculation​.

Who Benefited?

The main direct beneficiaries of these programs were expatriates, investors, and their families. The NHR programme enticed individuals seeking tax efficiencies, while the Golden Visa appealed to those eyeing residency through investment, often in real estate​.

The Impact on Portugal and Immigration

The real estate sector experienced a surge due to these programmes, with a notable increase in property values and construction projects, particularly in urban areas. This surge not only revitalized certain neighborhoods but also boosted the economy through job creation and foreign capital influx​.

However, these benefits came at a cost. The rising property prices made housing less affordable for local residents, and cities experienced overcrowding, leading to concerns about the quality of life for residents. The political scrutiny and the public’s growing discontent were reflective of these challenges, prompting a re-evaluation of these programmes.

Forward Outlook

The termination of these programs may initially deter many expatriates and investors. However, it also opens a window for policy reform that could lead to more sustainable and inclusive growth. As Portugal navigates through these changes, the nation’s approach towards foreign investment and expatriate taxation will be keenly observed by stakeholders both within and outside its borders.

The unfolding scenario presents a blend of challenges and opportunities. It signifies Portugal’s stride towards addressing long-term socio-economic issues while also redefining its stance on immigration and foreign investment. As we monitor these developments, the broader implications on Portugal’s international allure and its socio-economic dynamics will be of paramount interest.

I’m skeptical about this being a good move, given how much Portugal has benefited from the NHR and Golden Visa programmes over the past decade. One might think that it’s only “rich expats” that benefitted by lowering their tax bill, but it’s also important to consider that the influx of talented foreign workers and highly qualified people and their families also served to raise the cultural level of the country. This resulted in the opening of modern schools, restaurants, coworking spaces, etc. either to cater for the new demand, or as ideas implemented by these expats.

The housing market will take a hit as a result, but I think that a huge percentage of those who would have previously considered moving to Portugal and investing in the country will now move elsewhere or stay put in their own countries. At the end of the day, this is another poorly-thought-out populist move that results in Portugal taking a gamble on its future. Time will tell whether the gamble pays off or not.

These developments also provide a golden opportunity for other European countries to capitalise on the unmet demand that is the result of the end of the NHR programme in Portugal. Italy and Greece, for example, offer a similar lifestyle to Portugal (if not better) and have their own NHR programmes in place, so they could ramp up their efforts to attract the expats that are now looking for an alternative fiscal residency to Portugal.

Madrid is one of my favorite cities in the world, and I always love to visit and explore it from different angles, mostly depending on whom I’m visiting with.

Here are some ideas for a 3-day visit.

First of all, how to get to Madrid. If you’re in Barcelona or one of the major Spanish cities, I would recommend taking a high-speed train. There are several companies operating high-speed trains, for example, you can get to Madrid from Barcelona in just 2.5 hours.

I typically use Omio to find all the options, then select which one I like best. I consider the time, cost, and type of seating. When traveling alone, I like to use AVE’s silent carriages, while when with family I prioritize seating around a table for 4 people. All of the train options allow you to take a foldable bike, so taking my Brompton with me is not an issue. I always take it when I’m traveling alone as that’s my favorite way of exploring a city.

If it’s your first time in Madrid, a good idea to familiarise with yourself with the city is to take a free walking tour or buy a ticket to the hop-on hop-off buses, which have two routes that show you the main parts of the city in comfort. With the hop-on hop-off buses you get the extra benefit of not needing transport, since the buses are likely to include stops at most attractions you’ll want to visit.

If you’re a football fan, then a visit to the Real Madrid and Atletico Madrid stadiums can easily take up one day.

For art and culture, I recommend grabbing an Art Walk ticket for the three main art museums you can find in Madrid: Museo del Prado + Museo Reina Sofía + Museo Thyssen. These three take up at least one whole day.

In the evenings, watching a flamenco show is a great option. I skip the dinner options and eat elsewhere, so I can focus on the show itself. Flamenco is quite intense, so it just doesn’t feel right to me to be eating while watching such a show. A drink, on the other hand, pairs perfectly well.

These are the best locations to watch flamenco:

• Cardamomo
• Tablao Flamenco 1911

As for restaurants, here are some recommendations:

• Taberna El Sur
• Restaurante Cebo