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The United Arab Emirates (UAE) passport has been declared as the most powerful in the world in an annual list compiled by an offshore consulting firm, Nomad Capitalist.
The UAE has entered the top ten for the first time this year, jumping straight to number one from 35th last year, according to the index.
“This is largely due to recent changes allowing foreigners to apply for dual citizenship, which, combined with the travel freedoms afforded by a UAE passport, plus the country’s business-friendly environment and enviable tax system, puts the UAE top of our list for 2023,” the report said.
Jovana Vojinovic, Nomad Capitalist’s director of operations and sales, called the UAE passport the “winner of the decade”.
“The UAE added 106 new visa-free countries in the last decade, which is an amazing number,” she said.
“Perception of it improved in the past year because of an influx of rich and famous people who moved there,” she added.
Vojinovic praised the UAE’s “very liberal” visa policies and its openness to foreigners and investment.
Luxembourg and Switzerland’s passports ranked as second most powerful in the world followed by Ireland and Portugal, which secured fourth place on the ranking
The Nomad Capitalist Passport Index was created to highlight the best citizenships in the world, according to its website.
“Our ratings are based not only on the basis of visa-free travel, but also on international taxation laws, global perception, dual citizenship, and personal freedom,” the company said.