UK slumps in ranking of world’s most desirable passports

The UK’s attractiveness for entrepreneurs and investment has significantly declined, falling 14 places to 35th in the latest annual Nomad Capitalist Passport Index.

This represents the largest drop among G7 countries, with the UK now ranked below several European nations including Bulgaria, Greece, and Italy. The decline is primarily attributed to tax increases and the abolition of non-dom status, as outlined in Rachel Reeves’ Budget.

Khatia Gelbakhiani of Nomad Capitalist said that these policy choices, including higher taxes on employment, property, and the wealthy, have negatively impacted the UK’s reputation.
Concerns have also been raised that Brexit continues to damage Britain’s competitiveness, as the only EU countries to rank lower are the Netherlands and Austria.