Are Multiple Passports Only for the Rich?

Join us for the next Nomad Capitalist Live event:

In this interview, we’ll uncover the realities of obtaining second citizenship, from expensive investment programs to more accessible routes like ancestry-based citizenship. Join us as we break down the costs, benefits, and opportunities available to people from various financial backgrounds, and find out how you can navigate the world of international residency.

00:00 Start
00:53 Options for Americans
03:02 Americans and U.S. Tax Obligations
03:50 Difference Between Residency and Citizenship
04:14 Why Americans Need a Second Passport
05:49 Citizenship by Descent
08:05 Citizenship by Investment
08:55 Paper Residency

Nomad Capitalist helps clients "go where you're treated best". We are the world's most sought-after firm for offshore tax planning, dual citizenship, and international diversification and asset protection. We use legal and ethical strategies and work exclusively with seven- and eight-figure entrepreneurs and investors.

We create and execute holistic, multi-jurisdictional Plans that help clients keep more of their wealth, increase their personal freedom, and protect their families and wealth against threats in their home country.

No other firm offers clients access to more potential options to relocate to, bank in, or become a citizen of. Because we do not focus only on one or a handful of countries, we can offer unbiased advice where others can't.

DISCLAIMER: The information in this video should not be considered tax, financial, investment, or any kind of professional advice. Only a professional diagnosis of your specific situation can determine which strategies are appropriate for your needs. Nomad Capitalist can and does not provide advice unless/until engaged by you.

[summerwinters]

-Citizenship by decent
Check your family tree
-citizenship by donations
$200, 000.
-Paper residency
Live there so many years

Thank you

[poboutin]

4 citizenships and 4 passports here:
- Mexican 🇲🇽 by birth
- French 🇫🇷 via father
- Colombian 🇨🇴 via mother
- US 🇺🇸 citizen since 2012
- would love a 5th one… 🤔 and I’m not rich either

[skipkat]

You rarely talk about Croatia. I went back 4 generations to my great grandparents and was just awarded citizenship. Did it all on my own. Now considered one of the best and safest countries in the world

[HunkyMan]

I have 2. Gave me options during covid

[joenicedj]

I also have three passports: one via birth, one via descent, and a third via naturalization.

I am not rich at all.
Not even close.

[StringKeith]

I was researching about how I could get Polish citizenship. My Great Grandparents were from Galicja which in now part of Poland but at the time it was part of Austria-Hungary (pre 1st World War). Unfortunately since my Great Grandparents left when they were subjects of Austria-Hungary they were not considered part of the 2nd Republic of Poland. This means, Polish citizenship by decent would not apply for me.
Oh well…. When one door closes another door will open 😎🤙

[Gadfly]

Ireland now allows back to Great Grandparents.

[ESSHD]

I have 4 citizenships, it is not extremely difficult

[dianaj]

I love these conversations as they open up the mind to many possibilities. Especially someone that wants to travel a lot and doesn't necessarily care about being having a permanent home. I think the US tax system is unfair to people who live outside the US the majority of the time especially. My question is travel back to the USA once you give up citizenship??

[VA-zqii]

Originally im from Serbia but I was born and raised in Germany and still live here today, but I did not take German citizenship, but stayed with Serbian citizenship. Do you recommend that I take German citizenship or should I not take it?

[Johnjacob_]

Hey it's David Quintieri. What's up bro.

[HunkyMan]

Andrew van you please do video on new philippinrs fiv visa. Is it like UAE freezone concept amd is work permit only for work in your own freezone company?

[Sara]

Weren’t most US immigrants who became US citizens forced to relinquish their prior country’s citizenship especially in the 1800-1970’s?? I have grand parents and great grandparents from Ireland, Sweden and Poland and have their papers and they say something like “relinquish allegiance to the sovereign of Sweden” or similar language.
If the US required this to become a citizen, how do you get citizenship by descendant if one of the rules is not giving it up??

[DavidRobertJohns]

Hello
Which are the countries where is possible to get citizenship by residency?
Unfortunatelly my financial assets are limited so I don't have $200k.
I have currently EU passport and learning new languages are not an issue for me.
Regards

[tokenizegames]

what about UK, deemed domicile. how to remove that ? is similar to the US.... as long as you have a connection to the UK you pay taxes, in particular IHT tax

[lifewithmargot]

Can I get citizenship by decent to Russia? My great grandfather was born there.

[peterwakemanfreespeech]

More passports more likely for future tax?

[flourishwithflowers_]

I think a lot of people feel that way. Especially if it's not citizenship by descent.

[ist]

MoneyGPS is a GREAT guest!! Ive been this guy's Patron for like a decade at this point and this MF deserves it.

[qualqui]

Citizenship by descent?🤔So if my Great great grandparent was Irish, I would be able to gain an Irish citizenship? My great great grandpa married a mexican, had his children, of those my great grandmother was born here in Mexico, she married a mexican and of her children she had, my grandfather was born.👍☘🌮