The Mundo team is interested in financial freedom and in helping people set out the tools and strategies to achieve it. In a business world that is wide and complex, especially in the interconnected world of the digital era, more creative combinations are needed to achieve the desired results. Today Mundo has picked our favorite country when it comes to second residency, a place where you can submit a permanent resident application through investment and become a legal resident: Panama. This is also the country with one of the most advanced retirement programs in the world. For Panama, 2024 was a successful year when it comes to residency applications and approvals, yet we thought it would be interesting to know how each program performed separately. When the Friendly Nations Visa was created, it was one of the most innovative of its kind. We're talking about a program that didn't require any investment and that offered immediate permanent residency to the lucky citizens of approximately 50 stipulated countries. But things have changed since that day. At the moment of writing, the Friendly Nations Visa accepts residency applications but grants temporary residency. Nonetheless, the essence of the program remains the same: applicants must be from one of the friendly countries and they must prove having financial ties to Panama. In 2021, major amendments were made to the program. One is the removal of the permanent residency application, changing it for a 2-year period. Another change was reflected in another option to prove financial connections. Before, you could prove your financial ties by owning a company, but now you need either a fixed deposit, a real estate investment, or a job contract.

In an era of increasing financial uncertainty, the question of how to protect your savings has never been more important. For those looking to protect money while ensuring confidentiality and stability, establishing a specialized structure in a secure jurisdiction is a smart choice. When looking for an asset protection country, trust is everything, so selecting the right destination is crucial. Among the most attractive options are Vanuatu, St. Kitts, and Antigua—each offering unique advantages. However, when it comes to efficient asset protection strategies, one jurisdiction stands out from the rest. Antigua and Barbuda is an excellent country for those seeking greater international opportunities, offering one of the most convenient and accessible programs for acquiring a new citizenship. With a straightforward process, reasonable investment requirements, and the ability to include family members, it provides a range of benefits, including access to global markets and favorable tax policies. However, when considering how to protect your savings, it’s important to choose a jurisdiction that prioritizes asset security and financial stability. While Antigua and Barbuda is a great option for those seeking international flexibility, there are more secure choices available for those who want to protect money and ensure the highest level of financial safety. Vanuatu is an appealing jurisdiction, known for its favorable economic policies and investor-friendly environment. It offers excellent opportunities for international business and stands out as a country with a convenient citizenship program. In particular, its investment-based citizenship option is one of the most accessible and efficient. 

Panama is not just a beautiful country with a warm climate and excellent living conditions—it is also one of the best places if you are looking for a new home abroad. With its investor-friendly policies and straightforward residency programs, Panama has become a top choice for individuals wondering how to get permanent residency through investment. For those wondering how to get permanent residency in Panama, it's essential to understand that the only program offering this status directly is the Qualified Investor Visa. This program is ideal for individuals who wish to establish a new home or business in Panama. With a simple and efficient application process, it allows investors to secure a permanent resident card relatively fast. To qualify, an individual must invest at least $300,000 in Panamanian real estate. Alternative investment options include securities or a fixed-term deposit in a Panamanian bank; however, most applicants opt for real estate investments. Once approved, the applicant enjoys nearly all the same rights as Panamanian citizens, with the exception of voting rights. How to get permanent residency in Panama? The first step is assessing the applicant’s eligibility and determining the associated costs. Essential documents, including identification copies and proof of financial stability, must be gathered. Additionally, a due diligence check is performed to ensure compliance with Panama’s regulations, a crucial step for securing a smooth application process. One of the most critical steps in the process is selecting a property that meets the program’s investment criteria. Panama offers a strong real estate market with reputable developers and a wide range of investment opportunities. 

Nestled in the heart of the Caribbean, Saint Lucia is a true jewel, celebrated for its breathtaking beauty and rich cultural vibrancy. What is the nickname for Saint Lucia? It is famously known as the Helen of the West, a title that reflects its fascinating history and natural allure. While the island captivates visitors with its pristine beaches and lush landscapes, it also presents compelling investment opportunities. When it comes to CBI, St Lucia offers one of the most accessible and efficient programs available. With its affordability and streamlined process, this program attracts individuals seeking new possibilities. If you are wondering what country is known as the Helen of the West, the answer is clear—Saint Lucia. It remains a beacon of both investment potential and an idyllic lifestyle. If you are interested in CBI, St Lucia offers two primary investment pathways, each providing a unique opportunity to support the island’s economy. The first option is a non-refundable contribution to the Saint Lucia National Economic Fund, designed for individuals and families seeking a straightforward route to citizenship. The second involves purchasing real estate through an approved development project, which not only secures citizenship but also contributes to the country's economic stability. A non-refundable contribution to the Saint Lucia National Economic Fund is a straightforward route for individuals and families looking to embrace new opportunities. The financial commitment for a single applicant with up to three dependents starts at $240,000. Each additional dependent under 18 years of age requires an extra $10,000. 

This article is long overdue, not because it was published out of schedule, but because it is the third part of this series, that has awakened the interest in our readers. Many of our subscribers have shown positive reactions through the previous two articles about freedom, financial tools, related concepts to obtain it, and the seven steps to getting there. So, we owed it to them to publish this series finale. Today, we bring you what we promised, this is the 7th step, or what we like to call it: the global mobility variable. We have chosen global mobility and the concept of dual citizenship on the 7th step because it's key to financial freedom. It's worth pointing out that financial freedom is not about having a lot of money or the possibility of spending it as you please, but it has to do with living the way we choose to live. The advantages of dual citizenship are closely connected to global mobility because having more than one citizenship is beneficial in many aspects. When you are a citizen, you can enter the country no matter what. This might seem unimportant now, but let's remember that it was only five years ago when the COVID-19 pandemic broke and borders were strictly closed. Being a citizen improves your chances of getting into the country where you live, an advantage that is not matched by residency. Tuition is expensive in most countries, especially college. One of the advantages of dual citizenship is the possibility of accessing local universities, schools, and institutions and benefit from discounts. This is the case in Grenada, home to the prestigious St George’s University, renowned particularly because of the careers in veterinary and medicine.

Frequent travelers understand that having reliable access to their finances anywhere in the world is essential. Choosing the best bank account for traveling isn’t just about having an account abroad—it’s about ensuring that the account is optimized for a mobile lifestyle. In today's interconnected world, where financial transactions happen instantly, selecting the best bank for travelers means prioritizing flexibility, convenience, and security. In this context, it’s vital to use an institution offering optimal remote client support. Anyone looking for the best bank to use internationally should consider several crucial factors. First and foremost, the bank must offer unrestricted access to funds at all times. It should support international transfers without hidden fees or long processing times. A multi-currency account with fair exchange rates allows users to store and convert money conveniently. Security is also paramount: two-factor authentication, fraud protection, and high confidentiality standards are essential for safe transactions. What truly sets a good bank apart is its online banking system. Frequent travelers rarely visit physical branches, which is why the best bank account for traveling is the one that comes with a user-friendly and easily accessible online banking platform. A mobile app with advanced features, instant transaction notifications, and real-time account tracking is a must-have. The ability to make payments, transfer money, and manage expenses should not be limited by location. Choosing the Best bank for travelers means having secure and hassle-free access to funds no matter where you are. 

It has been nearly a year since the five CBI countries from the Eastern Caribbean decided to sign a memorandum of agreement. These are St Kitts, St Lucia, Grenada, Antigua and Barbuda, and Dominica. Even though it took a longer time for St Lucia to sign, it eventually did, thus committing, like its neighbors, to comply with certain common standards. These are mainly focused on enhanced transparency and security, alignment of prices between the programs, and setting common monitoring practices. Since that day, several changes have been made, and they continue to be implemented after a year. However, this seems to be only the beginning. What standards will be implemented and what regulators will be in charge of applying them? Will the Caribbean lose competitiveness due to these implementations? To start this new stage and to comply with the MOA, there has to be legislation in place, but what legislation and who will draft it? Which regulators will be involved? The woman of the hour is legal consultant Lydia Elliott, who has been commissioned with the task of drafting said legislation. With the purpose of creating the appropriate laws and regulators, and establishing the implementations of the agreement, Elliott has started conducting research and assessing the landscape since last year, and has presented advances in January. Actually, reliable sources stated that she would be meeting with key players and important actors when it comes to citizenship by investment. These meetings are planned for the beginning of March.

In today’s business landscape, transparency and compliance with strict regulatory standards are essential. One of the fundamental concepts in corporate governance is the beneficial owner, along with its key variation: the ultimate beneficial owner. These parties play a crucial role in unveiling the true ownership structure of a company, ensuring that regulatory authorities and business partners can accurately assess who holds real control over a business and whether it aligns with legal requirements. Understanding who are the main members of a company and identifying those with significant influence is critical for maintaining compliance, mitigating risks, and fostering trust in corporate operations. It is essential to distinguish between two critical concepts: beneficial owner and ultimate beneficial owner. A beneficial owner is an individual who holds a significant share of a company or has substantial influence over its strategic decisions. However, corporate structures often involve intricate layers of ownership through multiple legal entities. In such cases, identifying the ultimate beneficial owner—the actual person behind the corporate network who ultimately benefits from the company’s activities—is crucial. For example, if one company owns another, which is further controlled by a third entity, the real control may rest with an individual hidden within the corporate layers. In these situations, determining the ultimate beneficial owner ensures transparency and accountability, as he/she is the primary beneficiary. 

Since investments are such an important part of our weekly content, we've decided to dedicate an article to the topic. Particularly, this article focuses on those people who take care of your portfolio and to whom you trust the security of your assets. Today, Mundo presents guidance on what to look for in a good financial advisor. It's worth noting that this article is written by the Mundo editorial team according to our own opinion and experience. Hence, this article can be taken as a guide or as a source for ideas but not as financial research or professional advice. In our belief, ideally each person should look after their own portfolio, but this is exactly that: an ideal. In the real world, financial advisors are necessary because the investment world requires a great deal of studying and research. The more you study, the more you understand the markets, their trends and behaviors through time, and hence their possible shifts in the near future or the long term. It's also vital to understand the difference between types of assets, where they fit best, what purposes they serve, and also their history and how they may behave. Besides studying, there's a whole other aspect which is research, and this must be conducted on a daily basis. The investors, as well as the financial advisors, need to be looking at what happens in the market and in the news every day. To sum up, the reality is that not all investors have this amount of time, in fact, they rarely have it. So, they need financial advisors to provide input, create strategies and even implement them.

The history of Central America is filled with fascinating connections, and few are as intertwined as that of Panama and Colombia. Long before Panama became the thriving nation it is today, it was part of Spain’s vast colonial empire. Recognizing the strategic importance of this land bridge between the Atlantic and Pacific, Spanish conquistadors incorporated it into the Viceroyalty of New Granada, which also included present-day Colombia. For centuries, Panama and Colombia grew together, with their economies and cultures closely linked. Trade routes flourished, connecting Europe to the Americas, while merchant caravans traveled from the Alto Peru bringing gold to the Caribbean through Panama. Over time, as the region evolved, so did Panama’s role in the global economy. Eventually, calls for self-determination grew stronger, leading to Panama independence from Colombia. However, despite their political separation, these two nations continue to share deep historical ties that shape their relationship to this day. In the early 19th century, much of Latin America was fighting for freedom from Spanish rule, and Panama was no exception. However, when it declared independence from Spain in 1821, it did not become a fully sovereign nation. Instead, it joined Gran Colombia, a political union that also included Colombia, Ecuador, and Venezuela. As the years passed, Gran Colombia dissolved, yet Panama remained under Colombian rule. For decades, the region struggled with political instability, economic challenges, and growing discontent.