Why Have a Second Citizenship/Passport?
Owning a second passport through citizenship in another country is an integral part of international diversification. The idea is that no government should have the sole power over your life or your assets. If you are the citizen of only one country, as most people are, you are essentially at the mercy of your government. If they decide to jail you or confiscate your assets, most of the time you’re on your own.
Why Would You Need a Second Citizenship?
- If your nationality limits your investment, free trade, or entrepreneurial endeavors around the world.
- If your are exposed to taxation on your income, capital or assets worldwide.
- If you are a citizen of a isolated country or unpopular state.
- If your traveling is limited or controlled.
- If you or your children are forced to do military service.
- If your passport limits your freedom.
- If your country of citizenship is politically unstable.
- If you are at risk of terrorism because of your nationality.
- If you want to insure your family’s future against possible misfortunes.
- If your government could renounce or cancel your passport.
- If you just want to protect yourself, family and assets.
- If you want to change the address of your permanent residency.
- or, you just want to live free…
The most telling example of how second passports have saved lives and assets is during World War II, when thousands of Jews were saved from concentration camps thanks to second passports that they managed to get through diplomats from various European countries. For every Jew who managed to get a protective passport, there were countless others who didn’t because of the sheer number of applications.
A more recent example is the revolution in Egypt where many people wanted to leave but the only destinations accessible to these people, due to the origin of their passport, were countries such as Syria where the revolution was in full swing as well.
If those people had an adequate second passport, they could have seen the chaos on their televisions, rather than out of their bedroom window. Instead, they had no other option than to stay in place while bullets were flying.
An important point here is that those who already had a second passport before the situation started to deteriorate did not have to wait in line. They got out of the country safely and quickly along with their assets.
The US Government is constantly making it harder for its citizens to apply for and renew their passports. One example of this is a proposal that would allow the government to invalidate your passport if you don’t file your tax return in time.
You basically have two options to acquire a second passport
Naturalization (i.e. become resident of a country and wait a couple years until you can apply for citizenship). Some countries like Switzerland require you to live in the country for twelve years before they let you apply for citizenship, while others, like Singapore, might force you as a new citizen to go through their two year military service. There are countries out there though that allow you to apply for citizenship after only as few as three years of residency. During this residency you don’t even have to live in the country, it might be enough to visit once a year during this naturalization period. The fast track option is to ‘buy’ a citizenship through investments in certain countries, often called an economic citizenship.
Economic Citizenship: Fast Track To A Second Passport
The fastest, but certainly not the cheapest way, to getting a second passport is through an economic citizenship program, where you essentially buy a second citizenship. These programs often take the form of an investment program where you either invest in real estate or in certain funds as specified by the local government. The most well known of these programs is on the island country of St Kitts & Nevis where you make an investment in the country and in return get a St Kitts passport and citizenship.
So how much does a St Kitts passport cost? You have two options. Either invest $350,000 in qualified real estate or donate a non-refundable amount of $200,000 to the Sugar Industry Diversification Foundation. And prices change, so keep an eye on the place you are considering. Or how about investing €70,000 in real estate in a certain European country and getting a EU citizenship in return?
There are far cheaper dual citizenships to go after though if you’re willing to wait out the naturalization period. You can get a second passport for as little as 2-3% of the cost of a St Kitts citizenship, or even for free, if you live up to certain requirements. If your grandparents originate from a different country, there’s a possibility that you are entitled to apply for citizenship in that country, without having to go through a naturalization period.
Ex Pat Societies
You will notice that the heads of these societies are most frequently retired military or retired fed workers. Duh! You figure this one out yet? Why enroll in such things? Go to their functions. If they ask you what your name is say things like you can call me Buck, my friends can call me Speedy etc. You do not know what the future has in store for you with Obummer even though you are offshore. You should get a new citizenship and change your name. Keep your name and address out of as many registries as you possibly can. Cars, Phones, Houses, utilities all in name of an anonymous bearer share corporation. Do not advertise who and where you are. Keep telling yourself you do not know what the future will bring with Obummer and why get caught short. An ounce of prevention is worth a pound of cure. Stay private. Go back and study Hitler in the 1930’s and into the war years. His Gestapo was active in many nations he did not occupy. Obummer, Stalin and Hitler share a lot and operate remarkably similar.
Expat Con Men
Be wary of easily-made expat friends. There are a lot of con men out there looking to befriend people just like you. Be reserved as to who you make friends with. Keep your affairs to yourself. Do not pay attention to people who offer to help you with immigration, buying a car, real estate, banking, hiring a maid, health insurance etc. If you hear talk of gold mines, bonds, bank guarantees, oil and things like that stop talking to this person would be our advice. Keep your financial cards close to your chest. Find yourself a good lawyer who is your guy, not some new friend expat who say he knows the president, the pope, the heads of the big companies etc. Slinging the bull is profound in the expat countries. If the guy has all these connections why the heck is he chasing around with you?
There is no perfect country. We know of no common law republic out there. Visit the places of interest and try them. You can always move. Your first country out of the USA will be the hardest. The second is easier and the third easier yet and so it goes. It is an adventure for sure but if you stay there Obummer is going to give you another kind of adventure that will be more unpleasant. Make up your mind to have a good time, it’s all in your attitude. You can spend many years griping about what is missing that you had in the USA. Remind yourself that Obummer is missing in your new home country.