EVERYTHING YOU NEED TO KNOW TO NARROW DOWN THE … · 2017-11-07 · Second Citizenship 2017 SovereignMan.com 6 A BLACK PAPER SECOND CITIZENSHIP Either way, since second citizenship

A R E P O R T F R O M S O V E R E I G N M A N . C O M

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EVERYTHING YOU NEED TO KNOW TO NARROW DOWN THE

RIGHT PASSPORT FOR YOU

UPDATEDNOVEMBER

2017

Second Citizenship © 2017 SovereignMan.com

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CONTENTS 1. Introduction .............................................................................................................................. 3

2. Four different paths to obtaining a second passport ................................................ 42.1 Ancestry ............................................................................................................... 4

2.1.1 Italy ................................................................................................................ 5 2.1.2 Ireland ........................................................................................................... 7 2.1.3 Hungary ........................................................................................................ 8 2.1.4 UK .................................................................................................................. 9

2.2 Time .................................................................................................................... 102.2.1 Belgium ....................................................................................................... 10 2.2.2 Chile ............................................................................................................ 11 2.2.3 Argentina .................................................................................................... 13 2.2.4 Panama ........................................................................................................ 14 2.2.5 Comparison of the different time/residency options ............................ 16

2.3 Money ................................................................................................................. 172.3.1 St Kitts & Nevis ......................................................................................... 18 2.3.2 Dominica .................................................................................................... 19 2.3.3 Antigua and Barbuda ................................................................................ 20 2.3.4 Grenada ....................................................................................................... 212.3.5 Saint Lucia .................................................................................................. 22

2.4 Flexibility ............................................................................................................ 252.4.1 Brazil ............................................................................................................ 25 2.4.2 Israel ............................................................................................................ 26

3. Comparing the quality of passports .......................................................................... 27

4. Bonus: Where you can go to have your child (countries with Jus Soli) ............... 30

5. Conclusion ................................................................................................................... 31


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INTRODUCTION: Here at Sovereign Man, we write quite frequently about ways to secure your finances to eliminate your dependence on a single source of income, a single financial system, or a single government.

By making sure that you have more than one geographic option to earn, save and invest, you have a de facto insurance policy against a variety of threats to your wealth—from recession to financial collapse, to government confiscation.

This is vital to achieving a greater degree of freedom and security in your life.

However, you don’t want to forget your most important asset of all—your physical self.

After all, what good is it if your money is free, but you’re not?

Just like with your finances, there is a way that you can insure yourself against threats to your personal freedom and security. This comes by having a second passport.

This is your personal insurance policy. And though you might never need it… you’re going to be glad that you have it in case you ever do.

A second passport can be your ticket out from tyranny or oppression… safe passage for you and your family to a new place where the opportunities are better, safer, and brighter.

Even better, a second passport isn’t just about protection.

Just like with every solution that we offer here at Sovereign Man, it’s both about defense and offense. A strong defense safeguards what you already have. A good offense positions you for gain.

An offshore bank, for example, not only helps protect your assets, but it can also open you up to take advantage of greater opportunities. Opportunities to profit.

This could come from higher interest rates or the ability to hold your money in foreign currencies, enabling you to profit from currency fluctuations or even just lower transaction costs.

The same goes for a second passport—while it’s the greatest defensive strategy out there, at the same time it’s also an exceptional offensive strategy.

One of the key benefits of a second passport is that it opens you up to a world with greater travel, work, business, and investment opportunities.

Suddenly you have more countries in which you can reside, more countries in which you can pursue opportunities, more countries to explore without requiring a visa (or paying a fee).


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This makes a second passport an asset, even if nothing catastrophic actually happens in your home country.

Start by finding out which passport is best for you to pursue. Each option offers varying degrees of value to your life, and comes with different costs and trade-offs. It’s not a one-size fits all solution.

You should make a decision based on what you’re looking for and what you can afford, either in terms of time, money, or lifestyle changes.

In this Black Paper we will go through different methods of obtaining a second (or third, or fourth…) citizenship and analyze some of the top options out there to help you make the decision that is right for you.

2. FOUR DIFFERENT PATHS TO OBTAINING A SECOND PASSPORT

2.1 AncestryBy far the easiest (and usually cheapest) way to obtain a second passport is by examining your ancestry to see if you have any claims there.

If you happen to be part of what I call the “lucky bloodline club”, meaning that you have parents, grandparents, or even great-grandparents born in the right place, then you might be entitled to citizenship based on ancestry.

This track usually comes with minimal fees and enables you to bypass the lengthy naturalization period.

In fact, I know people who have applied for citizenship based on ancestry that had their new passport in hand within a few weeks.

That’s of course not a certainty (and is in fact unlikely) in places like Italy and Greece... but then again, knowing the bureaucracy in those countries that shouldn’t be too surprising.

In general, each country has its own set of rules in terms of awarding citizenship due to ancestry.

Many, for example, insist that your ancestor must have still been a citizen of that country before your birth. If your ancestor had already given up his or her, say, Italian citizenship, by the time you graced the planet, then you are likely not entitled to your citizenship… at least not automatically.

Even in these cases, there are often ways to “re-acquire” the citizenship if you can prove that you’re a


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member of the lucky bloodline club. Examples of countries which often grant citizenship to descendants of emigrants and which we covered before in SMC are:

● • Italy

● • Ireland

● • Hungary

● • UK

All of these passports are excellent travel documents.

In most cases, you’ll need to start by setting up an appointment with your nearest consulate. They might make you wait months, but don’t fret, because that will also give you time to hunt down and obtain the documents you need; and, if required, to have them officially translated and certified.

Documents you’ll need for these visits usually include your birth (and marriage and/or divorce, if applicable) certificate and passport, as well as possibly birth certificates of any children you have. You’ll also need birth certificates (and death certificates) for members of your family that links your lineage to the country whose citizenship you’re applying for. You’ll usually need any naturalization certificates those ancestors acquired as well.

Make sure you understand exactly what is required for you to bring to the appointment. Consulates’ documentation may vary, so contact your local consulate for a comprehensive list. Some documents may take some time to acquire, so don’t delay.

Let’s examine the procedure for some of these countries more closely.

Note that we’ll continue to publish information for citizenship by ancestry options. It’s simply the most cost effective and usually easiest way to obtain a second passport.

Let us know if you’d like information on any other country and we’ll make sure to cover the most popular options, by emailing us at [email protected].

2.1.1 ItalyAlert: https://s3.amazonaws.com/smconfidential/SMC+Alerts/SMC-Alert-20140616cdivjpn.pdf

Though Italy is far from the top of our list for economic opportunities right now, it is undoubtedly a beautiful, romantic dream for many.

https://s3.amazonaws.com/smconfidential/SMC+Alerts/SMC-Alert-20140616cdivjpn.pdf

https://s3.amazonaws.com/smconfidential/SMC+Alerts/SMC-Alert-20141126lvs4fg.pdf

https://s3.amazonaws.com/smconfidential/SMC+Alerts/SMC-Alert-20151201lnwdf3qr.pdf

https://s3.amazonaws.com/smconfidential/SMC+Alerts/SMC-Alert-20141105gf15gtp05.pdf

mailto:[email protected]

https://s3.amazonaws.com/smconfidential/SMC+Alerts/SMC-Alert-20140616cdivjpn.pdf


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Either way, since second citizenship doesn’t require you to actually live, work, and pay taxes in the country, it really doesn’t matter. What matters is that an Italian passport gives you the ability to live, work, and travel unencumbered practically anywhere in Europe.

Luckily for some, Italian citizenship is quite easily obtainable by ancestry.

According to Italian law, automatic citizenship is conferred based on the following:

1) If you have an Italian parent – if it’s your mother, you must have been born after 1/1/1948*;2) If you are born in Italy to stateless or unknown parents;3) If you are legally claimed as the child of an Italian;**4) If you are adopted by an Italian citizen.***

*Before 1948 Italian law only allowed men to transfer Italian citizenship to their children, so the maternal line did not hold up in court. That meant that if you were born 31 December 1947 to an Italian mother and Swiss father, you were not Italian; if the reverse was true, you were.

**If you are no longer a minor when claimed, you are obliged to become a citizen within one year of being legally recognized as the child of an Italian.

***If you are no longer a minor but were adopted by an Italian as one, you can become a naturalized citizen after five years of legal residence in Italy.

In all of these situations, you must never have renounced your Italian citizenship. Also, if your parent was an Italian citizen but renounced their citizenship before you were born, then they may have to re-acquire their Italian citizenship first, before you can claim ancestral ties.

However, if you were born in Italy and your Italian parent renounced his or her citizenship while you were still a minor, the government will determine that you have renounced your citizenship as well, and you may need to reside in the country for a year in order to resuscitate your relationship with Italy.

If you think that this option might apply to you, the first step would be to go to your nearest consulate and apply for an appointment.

This can take months, which on the bright side gives you ample time to accumulate the necessary documents and have them apostilled/legalized.

Use that time well, because it is essential that every item in your application is exactly to their specifications, otherwise they will turn down your application without a second glance, and you’ll have to go through the waiting process all over again.

There is, however, a shortcut to citizenship by ancestry if you’re willing to move to Italy, which admittedly isn’t the worst thing in the world. This can cut down the whole citizenship processing time to about five to seven months.


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For more information on that, refer to our Alert on the subject, to get the local contacts to make that happen.

Also note that our legal contact for this topic has successfully helped clients obtain Italian citizenship based on ancestry that goes as far as four generations back.

2.1.2 IrelandAlert: https://s3.amazonaws.com/smconfidential/SMC+Alerts/SMC-Alert-20141126lvs4fg.pdf

Like Italy, Ireland generally acknowledges citizenship by jus sanguinis, or bloodlines, no matter where you happened to be born.

If at least one of your parents was an Irish citizen when you were born, then you are an Irish citizen, even if you were born outside Ireland. That is, unless you, both of your parents, and all four of your grandparents were also born OUTSIDE Ireland.

In this case, you may still be entitled to become an Irish citizen, but only if the parent through whom you derive Irish citizenship was registered as an Irish citizen in the Foreign Births Register before you were born.

So, the key is to find out if you have at least one grandparent BORN IN IRELAND. Then you’re good no matter what. If not, it comes down to who was registered when.

Irish citizenship can be gained if:

https://s3.amazonaws.com/smconfidential/SMC+Alerts/SMC-Alert-20141126lvs4fg.pdf

https://www.dfa.ie/passports-citizenship/citizenship/born-abroad/registering-a-foreign-birth/


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In all the above cases, birth certificates, death certificates, and/or marriage certificates are required in order to demonstrate your lineage. If you have the documentation, you can apply through any Irish consulate yourself.

You can also download the application form here: http://www.dfa.ie/uploads/documents/Consular/Citizenship/fb1a.pdf

Refer to our Alert for more details about the process.

2.1.3 HungaryAlert: https://s3.amazonaws.com/smconfidential/SMC+Alerts/SMC-Alert-20151201lnwdf3qr.pdf

Often overshadowed by Prague, Hungary’s capital, Budapest, is just as gorgeous of a city. Not to mention incredibly cheap.

And now, here we have yet another great ancestry option that gives you practically complete access to the EU, as well as an excellent second passport.

Most countries with laws that allow those with proper bloodlines to obtain citizenship by descent only consider ancestral lines starting from one’s grandparents. In 2011, though, Hungary updated its nationality law to permit that line to go back as far as great-grandparents.

Since then, more than half a million people, mostly living in the Balkans, have taken advantage of the open door to the EU. Their ancestors were Hungarian, part of the Austro-Hungarian empire that ceased to exist after WWI.

Austria-Hungary – allied with Germany – lost World War I and was forced to hand over two-thirds of its previously expansive territory.

Put simply, if your ancestors lived in areas that were at one point controlled by the Austro-Hungarian Empire, you might be Hungarian.

The law states that any descendant of someone who was a Hungarian citizen before 1920 or between 1941 and 1945 may apply for citizenship.

Proving that you have ancestral ties to Hungary requires:

● • Birth certificates and death certificates that link you to your ancestors,● • Your own marriage and divorce certificates,● • You also need a clean criminal record (FBI background check) and a modest grasp of basic Hungarian.

http://www.dfa.ie/uploads/documents/Consular/Citizenship/fb1a.pdf

http://www.dfa.ie/uploads/documents/Consular/Citizenship/fb1a.pdf

https://s3.amazonaws.com/smconfidential/SMC+Alerts/SMC-Alert-20151201lnwdf3qr.pdf


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One of the potential major drawbacks of Hungarian citizenship is its system of taxation. Hungarian non-resident citizens are required to pay tax on their worldwide income. But there are two exceptions that can easily absolve you from this requirement:

1) If you’re a citizen of another country besides Hungary, and don’t spend more than 183 days per year in Hungary;

2) Or if you live in a country that has a double taxation treaty with Hungary, whereby that treaty will define which source of income is taxable in which country.

Essentially, as long as you hold another nationality and don’t live in Hungary, you won’t be required to pay taxes there.

If you think this option could apply to you, see our Alert for more information, including to help you determine whether your ancestors were potentially born in the territories that used to belong to Hungary.

2.1.4 UKAlert: https://s3.amazonaws.com/smconfidential/SMC+Alerts/SMC-Alert-20141105gf15gtp05.pdf

Because of its expansive colonial past, British citizenship legislation isn’t exactly the most straightforward out there.

Indeed there are even six different forms of British nationality currently in existence.

You will have a certain claim to citizenship if one of your parents was born in the UK before 1 January 1983, or if you yourself were born in the UK before that date (if you were born after 1983, it depends on whether at least one of your parents was a British citizen, or one of several other possible factors).Beyond that, things are rather fuzzy, but if you have other ancestors born in Britain or one of the Commonwealth countries (for example, Australia, New Zealand, Canada, India, or any of the dozens of other countries), it is worth making an effort to check if you might be eligible.

At the very least, if you have at least one British born grandparent, and you have the nationality of a Commonwealth country you can claim a British Ancestry Visa, which enables you to reside in the country, and puts you on an eventual path to citizenship.

There are literally dozens of ways in which you might be able to claim British nationality, and the UK government’s website isn’t very helpful on the subject.

Therefore, if you think you might have a claim to be British, I suggest you refer to our Alert on the subject and contact our recommended legal contact.

https://s3.amazonaws.com/smconfidential/SMC+Alerts/SMC-Alert-20141105gf15gtp05.pdf


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2.2 TimeMost countries provide a means for naturalization through residency, including the United States andCanada. However, the conditions vary wildly from country to country. So when figuring out which is thebest option for you the three most important factors to consider are:

1. How long do you have to be a resident in order to be eligible to begin the application process fornaturalization?

2. How hard is it to actually obtain residency? In the United States, for example, residency applicationsare scrutinized and generally rejected–hence the inordinate number of undocumented workers. In practice,America now sends the tired, poor, huddled masses back to where they came from. Meanwhile, thereare a number of other countries eager to take in smart, hard-working individuals, that have much simplerrequirements.

3. Do you actually have to live there? Many countries’ naturalization regulations require an applicantto spend the preponderance of his/her time in that country. Canada is a great example: if you becomea Canadian resident and spend too much time out of the country, you render yourself ineligible forcitizenship. Other countries, most markedly Panama, have very minimal requirements for how much timeyou actually have to spend physically in the country. Although, you should not expect to get a passport there by spending only one day a year to maintain permanent residency.

Let’s have a look at some of the best options in this category to find out what’s right for you.

2.2.1 BelgiumAlert: https://s3.amazonaws.com/smconfidential/SMC+Alerts/SMC-Alert-20150811pcltf3d.pdf

Belgian citizenship is quite valuable as a gateway to the European Union. This often overlooked country has some great options for gaining residency, and once you become a resident you can apply for naturalization in 5 years.

The best way to obtain residency (and eventually citizenship) in Belgium generally looks like this:

1) Set up a company in Belgium and apply for the professional card residency—or hire yourself and apply for a work permit. We advise that you enlist the services of a legal professional to assist you through this process.We have negotiated a substantial discount for SMC members that use the services of our recommended legal contact in Belgium.

2) Obtain a residential address, either through renting or purchasing a home. Some people who gothrough this program rent a small place for a few hundred euros per month.

3) Once you have the address, register at the local city hall. Make sure you’re at that residence for theinitial police check, which usually happens within two weeks and likely won’t be repeated during thecourse of the visa.

https://s3.amazonaws.com/smconfidential/SMC+Alerts/SMC-Alert-20150811pcltf3d.pdf


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4) Congratulations, you’re a resident of Belgium.

5) Apply for renewal indefinitely (first after 2 years, then every 5 years), as long as you meet your obligations.

(For example, if you’re a resident from having started a company and you say in your application thatyou’ll hire 3 people, make sure you hire 3 people. Also, a clean criminal record is necessary.)

6) Learn some French or Flemish (Dutch) or German. Join a gym, club, or some social organization.Meet a few people. Prove that this is more than a paper residency.

7) You are eligible to apply for naturalization after five years, which is when you can go to your local municipality to state your intention of becoming a naturalized Belgian citizen.

They’ll inform you of the documents necessary for application. Items such as birth certificates may need to be translated and apostilled (certified by a Belgian consulate in the jurisdiction where they were issued), and then you can apply.

Important to note is that in order become naturalized, you don’t technically need to live in Belgium full-time. Besides, the Belgian government has no way of knowing whether you’re spending your time in Antwerp, or Bordeaux—Europe’s borderless Schengen Area works to your advantage here.

That said, you do need to spend a “reasonable” amount of time there each year and show that you’ve woven yourself into the social and/or business fabric (hence point 6 above).

They’re becoming increasingly strict about that last part, so if you’re aiming for citizenship you really do need to make an effort to become part of Belgian life.

See our Alert for more details about this process, as well as how to claim your exclusive SMC discount on legal services.

2.2.2 ChileAlert: https://s3.amazonaws.com/smconfidential/SMC+Alerts/SMC-Alert-20141122nfl4cwz.pdf

A Chilean passport is among the most valuable passports out there.

With it you can travel to 155 countries visa-free.

It’s not overly difficult to obtain either, it just takes time—roughly five years of continuous residency, first temporary, followed by permanent residency.

There are a number of ways to obtain temporary residency.

https://s3.amazonaws.com/smconfidential/SMC+Alerts/SMC-Alert-20141122nfl4cwz.pdf


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For individuals with established income and assets there is an easy way called the rentista visa. To apply for this visa, you need to prove that you have income from investments held overseas. In general, such income could be from:

● • Ownership of real estate that generates rental income● • Shares of a company or publicly-traded stock that pays a dividend● • Bond investments that pay a coupon● • A lump sum in a bank account that pays sufficient interest● • Pension income

The slight catch here is that the immigration department doesn’t actually release the amount of income required per person. However, if you’re earning a minimum of US$1,500 per month through qualified income, this seems to be the magic number based on our boots on the ground experience. We’d also recommend $500 per month for each dependent.

I do suspect that, eventually, this number will be codified. And it will probably be higher than the range we’re seeing now.

After nine months on the rentista visa, and having spent at least six months (185 days) in Chile, you can apply for permanent residency. Note, the six months do not need to be all at once and can be accumulated over the course of the year.

Some other visa categories are:

● • A sujeta a contrato visa allows one to stay in Chile while working for a specific employer. If one loses the primary job, s/he loses the visa as well unless employment transfers to a second employer the same day. The length of the visa is equal to the lesser of the length of the work contract or two years. As end of the second year approaches, one can apply for permanent residency.

● ● • The visa como inversionista is a one-year investor visa that requires an applicant to present a

business plan to the department of immigration which will decide if s/he is worthy of a visa to start their business in Chile. One can do this if relocating a company from abroad to Chile as well. I don’t advise applying for this visa unless you’re looking to take advantage of some of Chile’s attractive incentives for entrepreneurs. One can apply for permanent residency after nine months on the visa, and having spent at least six months in Chile.

● • The permanencia definitiva is a permanent residency visa that entitles one to have the same legal standing as a Chilean, just without a passport or the right to vote. Unlike citizens, permanent residents have to touch Chilean soil at least once a year to maintain this visa. This visa is the upgrade for the three types of temporary visas above.

Once the temporary residency application is received, it takes about six months to be approved.

TIP:


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It’s important to note that Chile is not one of the places where you can show up for a week, then come back after a few years to collect a passport.

It’s important to at least spend meaningful time (more than six-months) during the year of your temporary residency if you want to progress to the permanent residency stage.

That said, Chile is a great place to spend northern hemisphere winter months in, conveniently enabling you to fulfill out your time requirement while avoiding shovelling snow.

Moreover, when it comes time for naturalization, your case is best supported if you can show some legitimate ties to the country. This includes the ability to speak basic Spanish and possibly demonstrating that you have some ties to the country through property, investments, or that you’re involved in the local community.

2.2.3 ArgentinaAlert: https://s3.amazonaws.com/smconfidential/SMC+Alerts/SMC-Alert-20150707kvfdb3av.pdf

First off, an Argentine passport is an excellent travel document in terms of number of countries you can visit visa-free. This covers all of Europe, including Russia, Turkey etc.

However, unlike Chilean passport holders, Argentine passport holders do need a visa to the USA, Canada, and Australia.

What makes Argentina’s citizenship especially attractive though is how short the time requirement is to apply for naturalization.

Argentina’s nationality law has been unchanged since 1869 and says that one can qualify to become acitizen after only TWO years of residing in the country. And any residency visa qualifies you for this.

Similar to Chile, the easiest options are the so-called rentista or retiree visas, which require you only to prove a certain amount of monthly passive income.

In Argentina, in order to qualify for the rentista visa you need to demonstrate a minimum of $1,000 permonth in passive income, which needs to be transferred to an Argentine bank account in your name.

The following type of income is suitable for the rentista visa:

● • Income derived from financial investments: dividends, annuity, receipts from a trust, interest payments from certificates of deposit etc.

● • Regular distributions from a business you own outside of Argentina● • Rental income from outside of Argentina

https://s3.amazonaws.com/smconfidential/SMC+Alerts/SMC-Alert-20150707kvfdb3av.pdf


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Just like in Chile, the rentista visa is a temporary one-year visa. It can be extended in one-yearincrements.

It’s best to initiate the residency process while in Argentina, not at a consulate abroad, which will only complicate matters unnecessarily.

Once you have your residency you should look to spend at least six months of the year in Argentina for both years.

After two years, you may apply for naturalization. However, given the complexity of the court approval system, we’d recommend commissioning professional legal help to guide you through the process, which should take about 9 months to a year.

Upon application you’ll also need to show at least lower intermediate level of Spanish languageproficiency. The language test is very informal and “friendly”, usually consisting of just a short conversation.

2.2.4 PanamaAlert: https://s3.amazonaws.com/smconfidential/SMC+Alerts/SMC-Alert-20131220fla43men9co.pdf

Panamanian residency is one of the easiest in the world to obtain.

And just like in Chile and Belgium, after five years of residency you are eligible to apply for naturalization.

A Panamanian passport offers you somewhat fewer visa-free travel opportunities, at 125 countries, than Chile, Belgium, or Argentina. However, what still makes this passport so attractive for many is that there are exceptionally low requirements for how much time you have to be on the ground in the country to qualify.

This makes for an excellent “Time” option, in which you don’t actually have to spend time in the country to qualify. You’ll need to show integration into Panama, so spending only one day a year to maintain permanent residency will not suffice.

A second excellent benefit is the country’s territorial tax system, which means that Panamanian residents and companies only have to pay local tax on their Panamanian-sourced income.

So as long as your income is earned outside of Panama, it isn’t taxable.

For now, Panama is the easiest place in the world to establish residency. With 52 options, it is clear that they welcome expats.

By far the easiest option is through the Friendly Nations Visa, which applies to nationals of more than 40 countries, including the US, Australia, most European countries, Israel, Japan, Hong Kong, South Korea, Singapore, South Africa, and a few Latin American countries.

https://s3.amazonaws.com/smconfidential/SMC+Alerts/SMC-Alert-20131220fla43men9co.pdf


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Citizens of any of these countries can obtain residency in Panama extremely easily by merely demonstrating ‘economic activity’ in the country.

This doesn’t mean that you necessarily have to do any business in Panama; you can satisfy this requirement by registering a Panamanian corporation and making a reasonable deposit at a local bank.

Then, once you submit your residency application, you’re free to leave the country and come a few months later to collect your documents and ID card.

You don’t have to actually live in Panama. In fact, Panama’s immigration code now only requires that the visa be renewed after two years (which should be done in Panama).

Five years of residency later you’re qualified to apply for naturalization. As always, your naturalization case will be much stronger and smoother if you have at least a basic grasp of Spanish, and, even better, if you can demonstrate some sort of involvement in Panama’s business and social life.


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2.2.5 Comparison of the different time/residency options

Belgium Chile Argentina Panama

Legal fees 4,500 - 9,000 euros $1,100 - $2,300 Residency ($1,275) + citizenship ($1,700) = $2,975

$7,200

Capital to bring into the country

a) 50,000 EUR salary per year for yourself on the Work Permit visa

b) At least 40,000 EUR invested in a business on the Professional Card visa

Zero $500 - $1,000 per month needs to be deposited to an Argentine bank account

$10,000 in a bank deposit

Time for approval The business should be operational for a few months before applying; the processing time to get approved for residency usually takes 4-5 months.

6 months 2 months 6-8 months

Requirement to spend in country

No specified time requirement, but you should spend a reasonable amount of time there each year and integrate yourself into the social/business fabric

6 months for the first year, at least a day per year after that to maintain permanent residency

6 months for two years

Minimal

Time to apply for naturalization

5 years 5 years 2 years 5 years

Value of passport A A B+ B

Family members can apply

Yes Yes Yes Yes


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2.3 MoneyThen, you have the option which attracts attention: Economic citizenship.

Economic citizenship programs are only suitable for a special group of people – those motivated to quickly gain a second passport and willing to sign a six-figure check.

Also known as citizenship-by-investment (CBI) programs, these generally require a large capital investment into the economy, real estate, or government debt.

Whenever there’s a lot of money involved, it’s important to be wary. Scammers run many “quick passport buying schemes.”Given the high cost, for many it would make more sense to just get residency and then apply for a passport once you qualify.

However, if you’re a high-income earning US citizen who intends to move abroad and renounce your US citizenship, then an economic citizenship program might make economic sense.

After all, eliminating your US tax burden alone could offset the costs of the passport within a year or two.

There are 12 citizenship-by-investment programs in the world today

The European countries of Austria, Malta, Cyprus, and Bulgaria have economic citizenship programs. But, these countries require a very higher contribution – more than $1 million for Cyprus, Bulgaria, and Malta, and more than $10 million for Austria.

As we mentioned in our Golden Visas Black Paper, we endorse Malta and Cyprus’ citizenship programs.

These programs’ rules are clear. Following them provides direct access to the European Union and an enviable European lifestyle.

Bulgaria’s program looks very promising, but we need to do more research to finalize our opinion.

Interestingly, Cambodia also offers citizenship through investment – the only country in Asia to do so. But it’s restrictive. The program requires knowledge of the Khmer language and involves a local history and culture test. The contribution minimum starts at around $250,000.

And finally, the Austrian CBI program is even more restrictive than Cambodia’s. The rules are vague and cumbersome. One rule is certain: You need to secure a high-ranking local politician’s patronage. He or she will petition the government for your citizenship application.

In this document we focus on the Caribbean nations’ economic citizenship programs. These programs offer the best bang for the buck. Below we’ll present the most important info on them but you can also refer to this alert for much more information.

https://s3.amazonaws.com/smconfidential/Black+Papers/Golden+Visas+Roundup+Black+Paper+2017.pdf

https://s3.amazonaws.com/smconfidential/SMC+Alerts/2017/SMC-Alert-20171025crbnc7b.pdf

https://s3.amazonaws.com/smconfidential/SMC+Alerts/2017/SMC-Alert-20171025crbnc7b.pdf


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In each program, there are typically two or more investment options to choose from:

1) Donation to a government fund

Governments usually spend money on education, healthcare, infrastructure… (and in some instances it goes directly into the pockets of crooked politicians.)

Technically it is a citizenship-by-donation option since you will not get your contribution back. That’s an obvious downside.

The advantage of this option is that it is always the cheapest one available.

2) Purchasing an approved (and usually overpriced) real estate property

This option often requires a much larger contribution. But because you’re buying a real asset, you can likely get at least some of the money back. And if the local real estate market booms, you can do even better.

After a certain period, countries usually allow investors to sell the property.

However, don’t buy a property there with just a profit in mind. It is far from guaranteed. Most often you will be buying a house or a unit in an overpriced government-approved luxurious real estate development or hotel project.

3) Investment in an approved business

Not all countries allow investing in local businesses, but Saint Lucia and Antigua & Barbuda provide this option. This investment option is usually much more expensive than investing in real estate.

4) Purchasing government bonds

Saint Lucia is the only country where you can obtain a passport via buying a government bond. The bond does not pay interest and must be kept for at least five years.

2.3.1 St Kitts & NevisAfter a 33 year-long history of leading the field of economic citizenships, St Kitts’s program has earned a stellar reputation.

If you’ve ever considered investing in a second passport, this is your chance to save. And until March 31, 2018, Saint Kitts activated a Hurricane Relief Fund option which is priced very competitively – especially when applying as a family.


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Donation option Investment optionHurricane Relief Fund (active until March 31,

2018)

Sugar Industry Diversification Fund

(SIDF)

Real Estate

Required donation or investment

$150,000 for a main applicant with up to 3 dependents (family of 4); $25,000 for each additional dependent over 3

$250,000 for a single applicant; $300,000 for a main applicant with up to 3 dependents; $25,000 for each additional dependent over 3

$400,000 minimum (plus applicable real estate transaction costs)

Additional government fees

N/A $50,047 for a main applicant; $25,047 for a spouse, or each kid younger than 18; $50,047 for each kid aged 18 and older

Processing fees

$7,500 for a main applicant;$4,000 for each dependent aged 16 and older

Real Estate option. You may become a citizen through investment in a pre-approved real estate project, which includes hotel shares, villas, and condominium units. Real estate can be re-sold five years after the purchase and will not qualify the next buyer for citizenship.

You can find the list of all approved projects here.

2.3.2 DominicaDominica’s Citizenship-by-Investment program was launched in 1993 but changed its conditions multiple times.

It is traditionally much cheaper than the standard option of Saint Kitts. Again, a temporary price reduction has made Saint Kitts’s program very competitive and even preferable for larger families.

But even with the ongoing price war in economic citizenships, Dominica still came out on top in almost every price category.

http://www.ciu.gov.kn/investment-options/approved-real-estate/


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Donation option Investment optionEconomic Diversification Fund

(EDF)Real Estate


$100,000 for a single applicant; $175,000 for a main applicant and a spouse; $200,000 for a main applicant with up to 3 dependents (family of 4); $25,000 for each additional dependent above 3



N/A $25,000 for a single applicant; $35,000 for a family of up to 4 persons; $50,000 for a family of up to 6 persons; $70,000 for a family of 7 persons or more

Processing fees $1,000 per applicationDue diligence fees $7,500 for a main applicant;

$4,000 for a spouse;$4,000 for each dependent aged 16 and older

Real estate option. Real estate must be held for three years minimum to maintain the citizenship. And after five years you may resell it under the CBI program conditions (to the next CBI applicant). There are currently six approved real estate projects in the country.

2.3.3 Antigua and BarbudaThe Antigua and Barbuda citizenship-by-investment program is a recent addition to the sphere of economic citizenship options (started in 2013). It offers three investment alternatives for applicants.

It is the only country among the Caribbean peers to require that applicants travel to the nation (or to an embassy) and sign an oath of allegiance when obtaining citizenship. It also requires all applicants to spend at least five days on the Antiguan or Barbadian soil within five years of receiving citizenship.

Antigua was the only country among its close competitors to offer visa-free access to Canada to its passport holders. This could justify its somewhat high donation minimums of $200,000+. But Antigua lost that privilege in June 2017, which made the program less competitive.

After the terrible damages caused by Hurricane Irma, the government finally decided to act. They cut the required minimum donation in half, bringing it on par with Dominica, Saint Lucia, and Saint Kitts – now it starts at $100,000.

http://cbiu.gov.dm/citizenship/approved-real-estate-projects/


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Donation option Investment optionNational Development

Fund (NDF)Real Estate Business project


$100,000 for a main applicant with up to 3 dependents (family of 4);$125,000 for a family of 5 or more;


Investment of at least $1,500,000 in an approved business when applying solo.

A joint investment of at least $5,000,000 with each person contributing at least $400,000 in an approved business.

Processing fees

$25,000 for a main applicant with up to 3 dependents;$15,000 for each additional dependent above 3

$50,000 for a main applicant with up to 3 dependents;$15,000 for each dependent above 3

Due diligence fees

$7,500 for a main applicant; $7,500 for a spouse;$4,000 for each dependent aged 18 and older; $2,000 for each dependent 12-17 years old

Real Estate option. Applicants must hold a property for at least five years. Exchanging your property for another government approved property is possible. There are many projects to choose from.

Business project option. We don’t find this option to be especially compelling and have been negotiating better terms exclusively for Sovereign Man subscribers for over a year now. Talks are currently on hold, but we’re still pursuing this deal.

The list of approved business projects is here.

2.3.4 GrenadaCreated in 2013, Grenada’s citizenship-by-investment program is another serious player in the field.

The country was not affected by the 2017’s hurricanes, and Grenada’s government did not engage in the ongoing economic citizenship price war (so far). That made the country’s program the most expensive in the Caribbean for donation option, and one of the most expensive when investing in real estate.

Grenada’s passport is slightly better than its peers when it comes to visa-free travel. Besides Schengen, the UK, and Brazil, it allows its citizens visa-free to China. It may also help get a foot into the US, as Grenada is part of the E-2 Investor visa treaty.

http://cip.gov.ag/investment-options/real-estate/approved-development-projects/

http://cip.gov.ag/investment-options/business-investment/approved-business-projects/

http://www.workpermit.com/immigration/united-states-america/e-2-treaty-investor-visa


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Donation option Investment optionNational Transformation Fund (NTF) Real Estate


$200,000 for a main applicant with up to 3 dependents (family of 4); $25,000 for each dependent above 3



N/A $50,000 for a main applicant with up to 3 dependents (family of 4); $25,000 for each dependent above 3

Application fees $1,500 per each applicantProcessing fees $1,500 per each applicant aged 18 and older;

$500 per each applicant younger than 18Due diligence fees $5,000 for a main applicant;

$5,000 for a spouse; $5,000 for each additional dependent aged 18 and older; $2,000 for each additional dependent 12-17 years old

Real Estate option. The only investment option available to applicants seeking to obtain citizenship in Grenada is to invest in a government-approved real estate project. Currently, these projects encompass developments such as hotels, villas, and resorts (here is the list). The applicant must keep a property for at least three years.

2.3.5 Saint LuciaSaint Lucia is home to the newest economic citizenship program in the world, started in January 2016 at $200,000. A year later the government reduced the entry threshold to $100,000.

At the time, it became the second country after Dominica to offer the cheapest - $100,000 (plus fees) – citizenship in the Caribbean. Other countries’ passports cost at least $200,000.

But even then, the program lagged Dominica’s in volume. Now, with plenty of competition on the block, Saint Lucia’s program will likely perform even worse.

http://www.cbi.gov.gd/grenada-real-estate/


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Donation option Investment optionNational Economic

Fund (NEF)Real Estate Business project Government

bonds


$100,000 for a single applicant; $165,000 for a main applicant with a spouse; $190,000 for a family of up to 4; $25,000 for each additional dependent above 3


Investment of at least $3,500,000 when applying solo.A joint investment of at least $6,000,000 with each person contributing at least $1,000,000

$500,000 for a single applicant; $535,000 for a main applicant applying with a spouse; $550,000 for a family of up to 4$25,000 for each additional dependent above 3


N/A $50,000 for a main applicant;$35,000 for each dependent aged 18 and older;$25,000 for each dependent younger than 18

$50,000 per application

Processing fees

$2,000 for a main applicant; $1,000 for each dependent

Due diligence fees

$7,500 for a main applicant; $5,000 for each additional dependent aged 16 and older

Real Estate option. Approved real estate projects fall into two broad categories: High-end branded hotels and resorts, and high-end boutique properties.

At the moment there are only three projects approved (which were not made public at the time of this writing.)

Business Project option. The government of Saint Lucia has not approved any business project yet, so this opportunity remains mostly hypothetical. In any case, the investment minimums are unattractive.

Government Bonds option. Citizenship may also be obtained via the purchase of government bonds. These bonds must be kept for at least five years and do not pay any interest.

https://www.cipsaintlucia.com/content_manager/contentPages/view/approved-real-estate-projects

https://www.cipsaintlucia.com/content_manager/contentPages/view/approved-enterprise-projects


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The comparison table of CBI programs (as of October 2017)

Single Family of 4 Single Family of 4

St Kitts (standard option)

$257,500 $311,500

St Kitts (Hurricane Relief Fund)

$157,500 $161,500

Dominica $108,500 $212,500 $233,500 $247,500 1993119 (Schengen, UK,

Brazil…)$7,100

Antigua & Barbuda $132,500 $140,000 $457,500 $465,000 2013136 (Schengen, UK,

Brazil...)$14,300

Grenada $208,000 $220,000 $408,000 $420,000 2013124 (Schengen, UK,

China, Brazil…) Also USA's E-2

$9,400

Saint Lucia $109,500 $207,500 $359,500 $452,500 2016127 (Schengen,

UK…)$7,700

Vanuatu ~$200,000 2015113 (Schengen, UK,

Russia…)$2,800

Comoros ~$45,000 ~$85,000 200848 (none of the

"developed" world)$770

Donation OptionCountry

$16,700

Visa-free access (# of countries)

GDP per capita

136 (Schengen, UK, Brazil…)

$457,500 $536,688 1984

Program enacted

in

Real Estate option

Explanation notes:

• The table above does not include a potentially significant expense – the agent’s commission fees. Governments frequently use certified agents to process all applicants and agent’s fees can be rather substantial – ranging from $10,000 and up.

• We highlighted the lowest priced programs in green, and close runners-up are in yellow. (We did not include Comoros and Vanuatu in this price contest.)

• When calculating the total outlay for a family, we included two kids younger than either 12 or 16 years old – the ages that trigger due diligence fees.

• The main value of any CBI passport comes from the visa-free travel it provides. Caribbean passports are OK in this regard – all countries offer visa-free travel in Europe, UK… And none of them give access to US, Canada, Australia… For reference, the world’s best passports offer visa-free travel to over 170 countries. And the world’s worst provide visa-free access to 60 countries or less.

• We included GDP/capita column here to give you an idea of the country’s level of development. That should not be a decisive factor in your choice of the program, especially if you don’t plan to live in your new “homeland”. But if you decide to live or spend time there, higher GDP per capita usually means better living standards and lower crime.


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2.4 FlexibilityLast, if you are willing to be somewhat flexible in your life plans, there are some interesting alternatives out there.

Many countries around the world offer shortcuts for special situations, the most common of which is marriage. Countries vary in how strict they are in confirming that the marriages are legitimate and not done just for citizenship reasons.

But that’s not the only flexible/lifestyle option. You may qualify for citizenship sooner or instantly by having a baby in a country, by joining the country’s military, or even by becoming religious.

It may sound a bit extreme, but it doesn’t hurt to know your options.

2.4.1 BrazilAlert: https://s3.amazonaws.com/smconfidential/SMC+Alerts/SMC-Alert-20141028mada9s.pdf

A Brazilian passport is a very valuable travel document, enabling you to enter 157 countries and territories visa-free.

Another great benefit is that Brazil protects its citizens from the long arm of foreign governments. Brazil has a ‘just say no’ policy to foreign extradition, so all the Julian Assanges and Edward Snowdens of the world would have a much easier time by simply acquiring Brazilian citizenship.

Then there’s the fact that just about anyone can be Brazilian, or at least look like one, thanks to the country’s rich cultural and ethnic diversity.

What’s most exciting is that if you have a certain amount of flexibility with your life plans you can get permanent residency in Brazil in a few weeks to a few months, and potentially get citizenship in as little as a year.

This takes either having a kid in Brazil, adopting one, or getting married to a Brazilian.

A simplified overview of the process of getting Brazilian citizenship through marriage looks like this:

1. Get married – You can get married to your Brazilian spouse in Brazil or abroad.

2. Apply for permanent residency – Once you’re married you can apply for permanent residency immediately. This process can take up to 60 days.

In case you and your spouse got married abroad, or your spouse is living in Brazil and you are living in another country, you have to go first to a Brazilian consulate abroad and request a Family Reunion visa.

https://s3.amazonaws.com/smconfidential/SMC+Alerts/SMC-Alert-20141028mada9s.pdf


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If you get married in Brazil, you will be able to apply for permanent residency directly with the Brazilian Federal Police. The process can take as little as a few weeks, and in some cases several years.

(Note: All foreign documents must be authenticated at a Brazilian consulate in the country where they were issued and translated by a sworn translator in Brazil.)

3. Apply for naturalization after being a permanent resident for one year – Once you’ve been grantedpermanent residency you will have to wait one year before being able to apply for naturalization.During this time you should be living in Brazil, or at least visiting it very often, as one of the naturalizationrequirements is that you reside in Brazil for the year immediately prior to the naturalization request.

The Family Visa is also the route used for those expecting a child. Any child (barring those of diplomats) born in Brazil automatically becomes a Brazilian citizen. And the parents can become immediate permanent residents as the child’s caregivers. This method is even faster than marriage.

For both of these options, they’ll want you to be in the country for nearly the whole year. So don’t leave the country for more than 30 days in the year before you apply.

Not only are these fantastic shortcuts to citizenship on their own, but it’s even more impressive compared to the 8+ years it would take to go through the normal residency route to naturalization in the country.

2.4.2 IsraelAre you Jewish? Do you want to be? If your answer is “yes” to either of those questions, then an Israeli passport might be the option for you.

In Israel, the “Law of Return” provides means for all Jews, and individuals of Jewish ancestry, to acquire Israeli residency and citizenship. Israeli law defines Jewish ancestry as having at least one Jewish parent or grandparent.

In the event that you don’t fit the ancestry definition, the law also provides the ‘right of return’ to all converted Jews of all denominations, and the conversion need not take place in Israel in order for it to qualify.

In either case, the onus is on the applicant to provide adequate documentation proving either Jewish ancestry or conversion to Judaism… the Israeli authorities won’t just take your word for it. They will check.

Additionally, the Israeli government will conduct a brief background investigation to determine if the applicant is a fugitive, a convicted violent criminal, or a known associate of any enemy of the state.

In order to apply, there are a number of forms and declarations that need to be completed through the Ministry of Interior and Ministry of Foreign Affairs. It’s possible to complete the forms prior to arriving to Israel, and there are service providers who can assist you with this process, such as the Jewish Agency for Israel: http://www.jewishagency.org/.

http://www.jewishagency.org/


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Once accepted, the applicant is issued an Oleh Certificate and entitled to immediate citizenship. For the first year, a temporary travel document is issued in lieu of a passport.

After the first year, the government issues a standard passport. Israeli citizenship carries many advantages, including visa-free travel to the European Union and extended visa quotas for the United States. Moreover, Israeli citizens who obtain residency in certain EU countries have reduced requirements to eventually obtain EU citizenship.

As you can imagine, though, the disadvantages of Israeli citizenship are significant. All males must serve in the Israeli Defense Force for three years after age 18, and remain as a reservist until their mid-40s. There are exemptions made, however, on grounds of religious or philosophical objection.

Furthermore, Israeli citizens can find themselves to be targets, perhaps even more often than US citizens. The State of Israel is still not recognized in some parts of the world– if you have ever been to Saudi Arabia and looked at a map of the Middle East, the borders of Israel do not even exist.

While we’re not advocating that anyone change his/her religion specifically to obtain a passport, Israeli citizenship may be among the fastest, most cost-effective you can acquire if you have no other means available.

If you’re interested in getting started, the best place to get answers is your nearest Israeli consulate.

3. COMPARING THE QUALITY OF PASSPORTSWhile in principle, any second passport minimizes your dependence on a single government, we can’t stress enough that not all passports are equal.

Some, in fact, have the potential to introduce additional constraints on your freedom, which may defeat the point altogether.

Thus, it is important not to get a second passport just for the sake of it, but to choose wisely.

A US passport, for example, is very high in demand around the world, but it also comes with a tax burden that follows you wherever you go.

Some, like the Israeli passport come with military service, while others, like the Singaporean passport, don’t allow for dual-citizenship, and thus require you to renounce your old one first.

It’s no simple task to compare passports because there are so many factors involved, which is why it’s key to look at what’s important for you.


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The number of visa-free countries you can visit with a passport is the primary metric to measure its value. But, this visa-free access metric can be deceptive. After all, the ability to travel to Vanuatu visa-free is not quite worth as much as the freedom to go to the US or EU visa-free.

Instead, we’ve looked at which passports enable you to travel to some of the top economic countries.

All of the selections here allow for dual-nationality, but that should not be taken as a given for every passport option out there. Be sure to look into this before starting the process.

Path Country No. of countries with visa-free, or visa-on-arrival access for passport holders

Ability to travel visa-free to top 6 worldwide destina-tions (US, Canada, UK, Schengen Area, Russia, China)

Taxation Military Service

Ancestry Ireland 172 US, Canada, UK, Schengen

Residents taxed on worldwide income, may claim tax credits if already paying elsewhere.

Non-resident citizens have no tax liability.

No

Italy 174 US, Canada, UK, Schengen

Residents taxed on worldwide income if in country more than half the year.


No

Hungary 167 US, Canada, UK, Schengen

Residents taxed on worldwide income.

Non-resident citizens have no tax liability if they spend more than 183 days out of the country and hold another nationality.

No

UK 173 US, Canada, UK, Schengen

Residents taxed on worldwide income if in country more than half the year; many double taxation treaties.

Non-resident citizens generally have no tax liability.

No


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Time Belgium 173 US, Canada, UK, Schengen

Residents taxed on worldwide income if in country more than half the year; many double taxation treaties.


No

Chile 155 US, Canada, UK, Schengen, Russia

Residents taxed on worldwide income that’s repatriated into Chile; exempt for the first three years.


No

Argentina 154 UK, Schengen, Russia Naturalized citizens taxed on worldwide income if they are in the country for more than 90 days of the year.

No

Panama 127 UK, Schengen, Russia Territorial taxation—income earned outside of Panama is not taxed, even for residents.

No*

Money St Kitts & Nevis

136 Schengen, UK No personal taxation No

Dominica 119 Schengen, UK Residents taxed on worldwide income if present in Dominica for more than 183 days a year.

No*

Antigua & Barbuda

136 Schengen, UK No personal taxation

No

Grenada 124 Schengen, UK, China Territorial taxation — residents taxed only on income generated in Grenada.

No*

St Lucia 127 Schengen, UK Residents taxed on worldwide income if considered “ordinary resident” – has a permanent home in St Lucia and spends some time a year there.

No*

Flexibility Brazil 157 UK, Schengen, Russia Residents in the country for more than 183 days are taxed on worldwide income; can receive tax credits if already paying elsewhere

No

Israel 148 Canada, UK, Schengen, Russia

10 year tax exemption for new immigrants on income earned outside of the country.


Yes

*No standing army


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4. BONUS: WHERE YOU CAN GO TO HAVE YOUR CHILD (COUNTRIES WITH JUS SOLI)There’s one more path to citizenship that we’ve not mentioned yet—being born in a country. This applies to countries that honor the jus soli principle, which means the “right of the soil” in Latin.

What this means is that children born in the country are granted citizenship, regardless of the nationality or immigration status of the parents.

This works differently in different countries. In some, just being born within the borders of the country is enough to automatically be granted citizenship. You could even be a tourist just passing through.

These countries with “unrestricted” jus soli laws include: Antigua and Barbuda, Argentina, Barbados, Belize, Bolivia, Brazil, Canada, Chile, Costa Rica, Dominica, Ecuador, El Salvador, Fiji, Grenada, Guatemala, Guyana, Honduras, Jamaica, Lesotho, Mexico, Nicaragua, Pakistan, Panama, Paraguay, Peru, Saint Kitts and Nevis, Saint Lucia, Saint Vincent and the Grenadines, Tanzania, Trinidad and Tobago, Tuvalu, United States, Uruguay, and Venezuela.

In other countries, one can only obtain citizenship for the child if certain additional requirements are met—such as that at least one parent is a citizen or permanent resident, or that at least one parent was born in the country themselves.

These countries are labeled as “restricted” on the map below, and if you click to view the interactive version of the map you can see what their additional requirements are.

Among the list are Australia, Colombia, Dominican Republic, France, Germany, Hong Kong, Ireland, New Zealand, and the United Kingdom.

While it might be too late for you to choose where you’re born, if you are planning to have a child, this is something you should look into.

In fact, there are even some countries, like Brazil, where not only will the child gain citizenship by being born there, but you as the parent can go through the expedited naturalization process as well (as explained above).

Ultimately, what better gift could a parent ever give their child than a lifetime of greater freedom and opportunity?

But be careful, some passports come with obligations.


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Thus, before signing up your child to further government burdens, be sure to look into what else that would entail—the main concerns being taxation and military service requirements.

Here, the US is the perfect example. Children born in the country may instantly become US citizens, but that also means that they become US taxpayers… for life. No matter where they eventually choose to reside.

Bottom line—even if you’re not expecting to have a child just yet, it is undoubtedly worth considering this when making your residency decisions, just in case.

5. CONCLUSIONA second passport stands to be the best insurance policy possible for your physical self, your freedom and your opportunities.

Not all second passport routes are right for everyone, but by considering your preferences, situation, and options, you should be able to find one that’s right for you.

To make the best decision, look at what a passport can offer you. Look at which countries particular passports open doors to and how they stand to reduce your tax burden.

Then consider the costs. Not just in terms of the monetary commitment, but also in terms of your time and the necessary adjustments to your lifestyle.

Ideally you’ll find a place where you wouldn’t mind spending a bit of time in, which makes the application process not only cheaper and more pleasant, but it even makes the document you end up with more valuable.

This process takes time and effort. And like any insurance plan you need to have it in place BEFORE crisis strikes in order for it to be effective.

It makes sense to start taking action as soon as possible. You surely won’t be any worse off for doing so.

With a second passport in hand, imagine your relief knowing that no matter what happens you have a Plan B. You have a way out in case crisis or chaos strikes your home country.

Believe me, it’s one of the best feelings in the world.

In Freedom,

Simon Black