The Republic of Guinea-Bissau is located in west Africa, bordered by Senegal to the north, Guinea to the east and south, and the Atlantic Ocean to the west, with bissau as its capital. Guinea-Bissau is one of the least developed countries in the world, with a low per capita income, a widespread epidemic of infectious diseases, an economy dominated by agriculture and fisheries, and a foreign debt of more than $900 million. In 1998, the country's economy and infrastructure were severely damaged by the civil war. At present, the domestic economy is supported by the cultivation of cashew nuts, and compared with other African brothers, the days of living on cashew nuts are barely enough to feed.
As a small country, the scenery is pristine and beautiful, but it is extremely poor, why do so many people choose such an identity?
Tax planning
Like other small countries, Guinea-Bissau has low tax rates, no global taxes, and there are many tax exemptions, with no inheritance, property, trade taxes, even if corporate taxes are basically easy to meet the exemption conditions. Guinea-Bissau's national policy is to attract capital with low taxes, hoping that more capital will migrate to the local area to promote local economic development and increase government revenue.
Educational needs
In order to avoid the fierce competition in the college entrance examination, many people use the ultra-low cost (Guinea-Bissau status) to leverage the joint examination for overseas Chinese students, and overseas Chinese themselves and their children can enjoy the rights and interests in many articles promulgated in the mainland's "Overseas Chinese Protection Law," including employment, schooling, and property protection for overseas Chinese and their children.
In order to allow their children to qualify for international schools, many parents prepare their children to meet the conditions for overseas status and can easily study abroad or participate in international student interviews in the future.
Business trade
In 2021, the total bilateral trade between China and Africa reached US$254.3 billion, an increase of 35.3% year-on-year. From January to September 2021, the mainland's direct investment in non-sector-wide industries was US$2.59 billion, an increase of 9.9% year-on-year, exceeding the same period in 2019 before the epidemic. Africa's rapid economic growth has entered a period of capital rush, and many people will prepare a low-cost African identity for business and trade activities with Africa in order to deepen trade with Africa.
Traditional burials
Some families because of their traditional thinking, the elderly are more willing to be buried, some areas have corresponding policies to give returned overseas Chinese burial treatment, in order to meet the conditions, choose a low-cost small country identity to achieve this requirement.