Madagascar
Eastern Africa
Africa
A very low-cost East African economy with low taxes (20% corporate) and a 5-year citizenship path, but a weak passport (~55 destinations), limited English and no dual citizenship.
28
Overall score
Low · Penalty applied · 91% data coverage
Language
Malagasy, FrenchCurrency
MGACitizenship
5 yearsPersonal tax
Up to 20% headlineCost of living
Consumer price level 29 (world = 100, 2025)Rules change often. Confirm any immigration, tax or legal decision with a qualified professional.
Score breakdown
34
Access
17%38Residence12%
26Citizenship and passport5%
53
Earning power
25%53Salary and work12%
53Buying power13%
45
Business and wealth
20%60Taxes7%
35Business8%
39Investment5%
31
Daily life
25%30Quality of life18%
34Education7%
37
Rights and institutions
13%57Freedom6%
20Rule of law7%
Severe safety risk (36) cut the overall score from 41 to 38.
Healthcare collapse (19) cut the overall score from 38 to 28.
Pros
- Relative affordability score 89/100
- Human development score 49/100
- Business environment score 37/100
Cons
- Passport mobility score 29/100
- Institutional environment score 35/100
- Work and income score 48/100
Best for
Applicants prepared to use local languagesCost-conscious residentsPeople with a confirmed local employment or study route
Score profile
Access
Residence
38
Citizenship
24
Passport
30
Earning power
Salary & work
53
Buying power
53
Cost of living
96
Economy
40
Business and wealth
Taxes
60
Personal tax
64
Corporate tax
43
Business
35
Investment
39
Wealth building
54
Daily life
Safety
36
Healthcare
19
Environment
90
Infrastructure
41
Education
34
HDI
49
Rights and institutions
Freedom
57
Rule of law
20
Access
Residence
Openness to residents
38Limited
Migrant stock0.1% of population (2024)
Regulatory quality-0.75 (−2.5 to 2.5) (2024)
Main pathways
Employment residenceStudy residenceFamily reunificationBusiness or investment residence where eligible
| Student | Admission, proof of funds, accommodation, insurance, and immigration approval are normally required; work rights vary. |
|---|---|
| Work | A local employer, qualifying occupation, or other work authorization is normally required; labour-market tests may apply. |
| Self-employed | Business registration, tax registration, and a residence or work authorization suitable for self-employment are generally required. |
| Permanent | Eligibility depends on years and continuity of lawful residence, route, income, character, and country-specific legislation. |
Citizenship
Citizenship accessibility
24Low
| Years required | 5 years |
|---|---|
| Dual allowed | No |
| Language | Language, integration, character, and documentation requirements depend on the nationality law and route. |
| Residence | Headline ordinary naturalization period: 5 years. Continuous residence and absence rules may apply. |
| Notes | This is a statutory headline from a sourced comparison table. Confirm the current nationality law and administrative practice before relying on it. |
Passport
Passport power
30Limited
60 / 198
Mobility
#81
Global rank
Yes
Biometric
- Visa-free22
- On arrival35
- eTA3
- Visa required138
Placeholder estimates for 2024 to 2025. Check entry rules with each destination before travelling.
Earning power
Salary & work
Labour-market strength
53Moderate
Output per worker$3,292 PPP (2024)
Unemployment3.0% (2025)
Participation85.5% of 15+ (2025)
Mean monthly earnings of employees
Overall$46 · $162 PPP (2015)
Tech (IT & comms)$58 · $201 PPP (2015)
| Freelance | Internet use is 19%; remote and freelance access still depends on payments, language, regulation, and immigration status. |
|---|---|
| Job market | Latest comparable unemployment rate: 3.0%. Role-specific demand varies substantially by city and sector. |
Buying power
Purchasing power score
53Moderate
GNI / person$1,910 PPP (2025)
Consumption / person$1,285 PPP (2023)
Price level29 (US = 100) (2025)
Income inequality36.8 Gini (2021)
Inflation8.1% / yr (2025)
Cost of living
Affordability
96Excellent
Price level29 (US = 100) (2025)
| Rent | Model benchmark: about $180 monthly housing share; derived from the World Bank consumer price level, not a market listing. |
|---|---|
| Monthly | Model benchmark: about $440 / month at a US$1,500 world-price baseline. |
| Cities | Antananarivo, Toamasina, Antsirabe |
Economy
Economic strength
40Limited
Output & income
GDP$19.6B (2025)
GDP / person$599 (2025)
GNI / person$1,910 PPP (2025)
GDP growth4.2% / yr (2024)
Stability & labour
Inflation8.1% / yr (2025)
Unemployment3.0% (2025)
Output per worker$3,292 PPP (2024)
Sector composition
Agriculture21.7% of GDP (2025)
Industry23.9% of GDP (2025)
Services48.8% of GDP (2025)
Main industries
Agriculture (vanilla)Mining (nickel, graphite)TextilesTourismFishing
Top exports
Vanilla & clovesNickel & cobaltTextilesShellfish
| Type | Low-income, agri- and mining-led |
|---|---|
| Key sectors | Vanilla & spice agriculture (a world leader), Mining, Textiles |
| Summary | A biodiverse island economy and the world's top vanilla producer, also exporting nickel, textiles and seafood. |
| Currency | Malagasy ariary |
Business and wealth
Taxes
Tax friendliness
60Moderate
| Personal | 20 |
|---|---|
| Corporate | 20 |
| Capital gains | Treatment varies by asset, entity, residence, holding period, and domestic exemptions; consult the current country summary. |
| Dividends | Domestic and withholding rates vary with residence, ownership, and treaty eligibility. |
| Exit tax | No harmonized cross-country answer; verify current deemed-disposal and residence-cessation rules. |
| Foreign companies | Permanent-establishment, management-and-control, transfer-pricing, withholding, and reporting rules may apply. |
Personal tax
Personal tax
64Moderate
| Personal | 20 |
|---|---|
| Freelance | Freelancers typically need appropriate immigration permission plus business and tax registration. |
| Capital gains | Treatment varies by asset, entity, residence, holding period, and domestic exemptions; consult the current country summary. |
| Dividends | Domestic and withholding rates vary with residence, ownership, and treaty eligibility. |
| Exit tax | No harmonized cross-country answer; verify current deemed-disposal and residence-cessation rules. |
Corporate tax
Corporate tax
43Limited
| Corporate | 20 |
|---|---|
| Capital gains | Treatment varies by asset, entity, residence, holding period, and domestic exemptions; consult the current country summary. |
| Dividends | Domestic and withholding rates vary with residence, ownership, and treaty eligibility. |
| Foreign companies | Permanent-establishment, management-and-control, transfer-pricing, withholding, and reporting rules may apply. |
Business
Business friendliness
35Limited
Regulation & bureaucracy
Regulatory quality-0.75 (−2.5 to 2.5) (2024)
Government effectiveness-0.86 (−2.5 to 2.5) (2024)
Operating rules
| Foreign company | Foreign ownership is generally possible, subject to sector restrictions, licensing, local-participation rules, and beneficial-ownership checks. |
|---|---|
| Local company | Local company forms are available; registration, tax, capital, director, address, and licensing requirements vary. |
| Freelance | Freelancers typically need appropriate immigration permission plus business and tax registration. |
Investment
Investing environment
39Limited
Private credit16% of GDP (2024)
| Capital gains | Capital-gains treatment varies by asset, holding structure, residence, and treaty position. |
|---|---|
| Dividends | Data not available yet |
| ETFs & funds | Data not available yet |
| Wealth tax | Verify current national and subnational net-wealth, property, inheritance, and transfer taxes. |
| Brokers | Local and international broker access depends on residency, exchange controls, sanctions screening, and platform onboarding. |
| Foreign access | Data not available yet |
| Tax-advantaged | Data not available yet |
Wealth building
Wealth accumulation
54Moderate
Salary & work
53Moderate
Business
35Limited
Investment
39Limited
Tax friendliness
60Moderate
Cost of living
96Excellent
Daily life
Safety
Safety & stability
36Limited
Institutions & stability
Control of corruption-1.01 (−2.5 to 2.5) (2024)
Political stability-0.48 (−2.5 to 2.5) (2024)
Check current government travel and security advice before relocating.
Healthcare
Healthcare score
19Low
Outcomes
Life expectancy63.8 years (2024)
Under-5 mortality62.4 per 1,000 births (2024)
Capacity & resourcing
Physicians0.17 per 1,000 (2022)
Hospital beds0.32 per 1,000 (2014)
Health spending$63 PPP / person (2023)
System & costs
| System | Public and private provision coexist; eligibility, service quality, and capacity vary by location. |
|---|---|
| Insurance | Insurance and proof-of-cover requirements depend on immigration status, employer, and residence route. |
| Average cost | Health expenditure: $63 PPP per person (2023). |
Environment
Environment score
90Excellent
Environmental pressure
PM2.5 exposure12.4 μg/m³ annually (2023)
Water stress11.3% (2022)
Infrastructure
Infrastructure score
41Limited
Digital infrastructure
Internet use18.7% (2024)
Internet resilience38 / 100 (2026)
Fixed speed56 / 100 download index (2026)
Mobile speed41 / 100 download index (2026)
Sources: World Bank World Development Indicators · Internet Society Pulse Internet Resilience Index
Utilities
Electricity access39.4% (2023)
Grid losses5.3% of output (2023)
Transport
Transport quality1.80 / 5 (2022)
Rail density1.2 km / 1,000 km² (2021)
Air connectivity164 departures / million people (2023)
Education
Education score
34Limited
Attainment
Expected schooling9.1 years (2023)
Mean schooling4.6 years (2023)
Participation & investment
Tertiary enrolment6% gross (2023)
Education spending3.0% of GDP (2023)
| Tuition | Fees vary by institution, programme, level, and nationality; no harmonized official tuition series is used. |
|---|---|
| Public university | Check current public-university fee schedules and scholarship rules directly with each institution. |
| Languages | Malagasy, French |
| Student work | Student employment rights vary by permit and may require separate authorization or hour limits. |
HDI
Human development score
49Moderate
HDI0.487 (2023)
Knowledge
Expected schooling9.1 years (2023)
Mean schooling4.6 years (2023)
Rights and institutions
Freedom
Freedom score
57Moderate
| Freedom in the World | 57 / 100 (Partly free) |
|---|
Sources
Rule of law
Rule of law score
20Low
| Rule of Law percentile | 20 / 100 |
|---|
Sources
Resources
Official references
UN Statistics: M49 country and area codesunstats.un.orgUNDP Human Development Report 2025hdr.undp.orgInternet Society Pulse Internet Resilience Indexpulse.internetsociety.orgWorld Bank World Development Indicatorsdata.worldbank.orgILOSTAT (International Labour Organization)ilostat.ilo.orgPwC: Madagascar corporate tax headlinetaxsummaries.pwc.comPwC: Madagascar personal tax headlinetaxsummaries.pwc.comNaturalization comparison and linked nationality lawsen.wikipedia.orgHenley Passport Index 2026 summaryen.wikipedia.org
Quick links
Data is illustrative. Not legal or tax advice.