business passport
The founder of the social network “VKontakte” and the head of Telegram messenger Pavel Durov received UAE citizenship.
Now Durov has four passports: Russia, the island nation of Saint Kitts and Nevis in the eastern Caribbean, France and the United Arab Emirates. The penultimate time when the entrepreneur received a new document of a citizen of a foreign state in August 2021 – then it was about France.
It was impossible to get a UAE passport until the country’s government passed amendments to the law in January 2021, Vladimir Krikorov, consultant to the Family Office O2Consulting, told socialbites.ca.
According to the lawyer, the changes now allow UAE citizenship to be granted to investors, talents and professionals in certain fields, including scientists, doctors, engineers, artists and writers, and their families.
“Given the fact that Durov lived in the UAE for a long time and also gave his outstanding achievements in the field of informatics, it seems that he received the passport, which is loved by many, for these reasons,” Krikorov said.
Ivan Samoylenko, managing partner of B&C Agency, told socialbites.ca that for wealthy people, obtaining a UAE passport is an opportunity to develop a business on a large scale.
According to him, Durov can become the owner of a company registered in the UAE.
Samoilenko also drew attention to the effect of obtaining a United Arab Emirates passport on the image. Many well-known businessmen have dual or triple citizenship, as it raises their status and introduces them to the elite of the state,” he said. This is especially true for Russian entrepreneurs investing in the economy of another state.
Ivan Samoylenko is sure that Durov’s decision to obtain new citizenship was due to the fact that he, like other modern IT businessmen of the younger generation, considers himself a world citizen who does not want to be limited by the jurisdiction of one country.
“Such cosmopolitanism is one of the characteristics of Pavel Durov, who tried to become more than one famous Russian businessman,” said Samoylenko.
In addition, UAE citizenship entitles you to visa-free entry to 170 countries of the world, free education and health services. Durov, who is also a citizen of the United Arab Emirates, has the opportunity to retire at the age of 49, based on 20 years of work experience.
Pavel Durov has a long working relationship with the state in the Arabian Peninsula.
Since its opening in 2017, Telegram’s headquarters is located on the 23rd floor of one of the complex’s towers in the Dubai Media City free economic zone.
Durov explained the choice of this region within the UAE, including the absence of the need to pay taxes.
Krikorov explained that it was not profitable for Durov to use a Russian passport for business purposes. “Until now, opening an account with a Russian passport in European and American banks has been quite problematic, and the availability of other passports makes this process easier,” the lawyer said.
The expert noted that most likely in the future an IT businessman will have to give up at least one of his current passports. Frankly, he concluded that the 37-year-old Durov has no plans to get a new Russian passport yet.
Island Passport for Immigration
Ivan Samoylenko of B&C Agency said that the main advantage of obtaining a foreign passport for a businessman from Russia is to gain the loyalty of this or that state.
This is especially true given the West’s anti-Russian rhetoric towards Russia,” he said.
Samoylenko said that citizenship of Saint Kitts and Nevis entitles visa-free visits to 155 countries of the world, including the EU and the Schengen area.
Also, the passport of the island state makes it possible to quickly leave Russia in the event of force majeure.
Vladimir Krikorov of O2Consulting Family Office said that to get a St. Kitts and Nevis state passport, it is enough to invest $150,000 as a donation (non-refundable investment) or $200,000 to $400,000 in real estate. The property can be sold in 5-7 years.
Durov “against the background of known problems in Russia” in the spring of 2013 in St. Kitts and Nevis passport.
“This is convenient as it allows you to travel to the EU and the UK without a visa,” said the IT businessman. He also received a passport in Europe, but St. He explained that he had never been to Kitts and Nevis.
About a year after receiving foreign citizenship, on April 22, 2014, it became known that Durov went abroad and would not return to Russia. Therefore, island citizenship was required for an entrepreneur in exile.
“This state has one of the smoothest tax systems in the world. There is no income tax, inheritance tax, gift tax, dividends and capital gains on the islands,” Krikorov added.
European passport for prestige
Samoylenko explained that French citizenship also gives the right to free movement within the EU and the Schengen area. Also, a French passport holder can quickly obtain a visa to any country in the world, including the United States and Canada. Such a document is suitable for foreign trips.
In addition, Durov, as a French citizen, has the right to do business freely in EU countries.
Krikorov said that a European state had him in St. He noted that Durov’s decision to obtain a French passport was not clear, as he had no advantages distinguishing it from the Kitts and Nevis passport.
“It seems that Durov wanted to have citizenship of a prestigious European state in his collection,” says the expert.
Source: Gazeta
