Steve Waznjak, co‑founder of Apple, has built a three‑passport portfolio that combines the United States, Serbia and Grenada. The mix balances the geopolitical weight and tax obligations of his home country with the mobility, tax advantages and lower‑profile options offered by a Caribbean citizenship‑by‑investment program and a non‑EU European passport.
Grenada citizenship by investment
- Acquisition cost: ≈ US $150 000 when Waznjak applied (now a low six‑figure amount).
- Eligibility: clean criminal record; the program is becoming more bureaucratic, with a future requirement of a 30‑day physical stay.
- Benefits:
- Visa‑free travel throughout the Eastern Caribbean States and many other countries, including Russia and China, which are not visa‑free for U.S. citizens.
- Potential for low or zero personal income tax if the holder establishes tax residence there.
- Access to British Commonwealth consular services.
- Geopolitical angle: Grenada’s small size and neutral stance provide a counterbalance to the United States’ growing tax and regulatory pressures.
Serbian citizenship
- Granting authority: awarded directly by the Serbian president, not through an investment route.
- Strategic value:
- Offers European lifestyle and travel benefits without EU membership constraints.
- Serbia maintains a neutral geopolitical posture, with friendly ties to Russia and China, and operates outside the EU’s regulatory framework.
- Allows unrestricted travel between Serbia and neighboring Balkan states (e.g., Albania).
Other citizenship‑by‑investment pathways
| Country / Program | Typical cost | Main requirements | Notable features |
|---|---|---|---|
| St. Lucia (Caribbean) | ≈ US $100 000 | Clean record, donation | Similar mobility and tax benefits to Grenada |
| United Arab Emirates (golden visa) | Real‑estate or bank deposit (≈ US $5 M for residence; citizenship often mid‑8‑figure investment) | Property purchase or bank deposit; interview for citizenship | 10‑year residence visa; eventual citizenship possible; strong financial hub |
| Austria (exceptional naturalisation) | €10 M+ | Substantial investment, political support | EU passport, high‑level mobility |
| Poland (exceptional naturalisation) | Variable, increasingly restrictive | Government endorsement, often high‑value contribution | EU passport but recent tightening |
| Cambodia, São Tomé & Príncipe, Botswana, Egypt, South American nations | Low‑seven‑figure to mid‑seven‑figure donations or investments | Varying residency or investment conditions | Emerging options for diversification |
Building a diversified passport portfolio
- Avoid clustering in high‑tax, high‑geopolitical‑weight countries. The United States and United Kingdom share similar tax regimes and geopolitical influence; holding both does not significantly diversify risk.
- Prioritise low‑tax, high‑mobility passports. Caribbean citizenship‑by‑investment programs and non‑EU European passports (e.g., Serbia) provide travel freedom and potential tax residency options.
- Consider citizenship by descent early. Countries such as Italy and Portugal allow citizenship through ancestry, often with lower cost and fewer ongoing obligations.
- Monitor program changes. Caribbean programs are adding residency requirements and interview steps, while the U.S. and EU are pressuring these jurisdictions, which can raise costs and reduce ease of acquisition.
- Timing matters. Early applicants, like Waznjak, secured passports at lower price points before recent fee increases.
Potential enhancements to Waznjak’s portfolio
- Ancestral citizenship (e.g., Polish or Italian) if eligibility can be proven.
- Additional Caribbean or African citizenship‑by‑investment (e.g., São Tomé & Príncipe, Botswana) to broaden travel options and tax planning.
- Further non‑EU European passports that offer business‑friendly environments without EU regulatory burdens.
By combining a high‑profile U.S. passport with a neutral European passport (Serbia) and a low‑tax, high‑mobility Caribbean passport (Grenada), Waznjak has created a flexible framework that mitigates tax exposure, expands travel freedom, and provides geopolitical alternatives should U.S. policies become less favorable. The strategy illustrates how strategic citizenship acquisition can serve both personal mobility and long‑term risk management for high‑net‑worth individuals.
