I keep hearing "my idea" mentioned in your videos. Makes me confident that we are leaning in the right direction. We'll talk soon, Michael. In the meantime, keep the high quality information coming. 🔥
14:08 "Anything that I can pay once, and have a lifetime of value for, I am a big fan of that" Same here! I absolutely love long term solutions that I have to set up just once, it is immensely satisfying!
Reading between the lines... this feels like probably THE most important video produced on this channel. I wonder how many will actually watch AND act?
Nice info, thanks. Reminds me of an old Italian family on how they preserved their wealth through the centuries. The answer was gold, art and land. In particular, as the supply lines go down and globalization with it, I'd consider a self-sustaining farm in one of the Med countries. Then at least the food supply is secured.
a lot of interesting information as always! Could you do a special on the Dominican Republic? there is very little info available about what their advantages are tax wise, thanks!
I heard that Malaysia is now considering making BTC legal tender. That definitely opened my eyes. But, I'm also interested in Ecuador. The idea of owning a multi hectare estate in the rainforest with a plethora of food to harvest seems like an ideal Plan B escape. The prices seem very reasonable too.
Successful people don't become that way overnight. What most people see at a glance wealth, a great career, purpose is the result of hard work and hustle over time. I pray that anyone who reads this will be successful in life
A shock proof Plan B is such an important topic that unfortunately we often neglect! Planning to support our health, freedom and wealth should be an everyday priority. The Mexican residency sounds very interesting... Thank you Michael for sharing these ideas. Bri
@@OffshoreCitizen Nothing of substance ATM just a yacht and I'm paying dearly for not having a solid plan B having been absolutely hammered in a nasty divorce...if you think the ATO is hash the Au divorce laws and end results sadly shocking. But I'm changing that with a tri-based plan: Australia, a base in Europe possibly Bulgaria or Romania and a base in the Americas possibly Mexico. Also starting the research for an Italian passport (Italian grandfather), Mexican PR is interesting. I need to rebuild a diverse and we'll protected investment portfolio... Soon to buy crypto, I would like a number of accounts in these countries. Also looking into learning a new language each year. Thanks again Michael
My top recommendation: Mexico and Portugal residency, Turkey or St. Nevis Citizenship, banking in Multi-currency Wise account, investments in equities, precious metals and cryptocurrencies.
@@OffshoreCitizen Residency is easy and inexpensive in these locations. Both have paths to a new passport. I like Wise because it allows me to hold different currencies in different foreign banks. It is easy to do and inexpensive. Citizenship in Turkey and St. Nevis are not expensive and both are reasonable passports. I like my investments to be liquid.
16:09 "If you are saying, ok, I am willing to go spend some time somewhere. Any of the programs that can take you a couple years to get, something like *Argentina*, Peru, these are actually good passports" In my opinion the Argentinian citizenship can be a liability, since there is no process to renounce it, and their government already has a wealth tax for individuals domiciled in Argentina, all their governments in the past half a century loved to create all kinds of taxes, I wouldn't be surprised at all if they expand the wealth tax to also include individuals who are Argentinian citizens no matter where they are domiciled, it just really seems like an unnecessary risk to take. As opposed to the Mexican permanent residency having lifelong value, the Argentinian citizenship has lifelong risks
That's a fair argument. I'm not overly concerned about Argentina taxing non resident citizens as it violates the tax treaties. But you're always balancing risks and rewards
Michael, another great informative video. I've heard that getting a Portugal D7 visa is very quick, which does require a 6 month stay, but would only need to be proved when renewed in two years. If one had not complied, at that time one could apply for the Golden Visa. then benifit would be that 2 years would have counted towards citizenship. What are your thoughts?
We're going through the D7 now. Yes, pretty quick for us... first part about a month... then a few months for the second part in Portugal. Hopefully, all complete by August - we started 14th Feb this year.
@@michael-hansen 12 month lease minimum... but it seems every embassy has different requirements. Some okay with Airbnb/Flatio some want a full lease. It's really pot luck. It also seems all officials have discretion - so two applications, same embassy, same paperwork... different result?
The EU esp countries like Portugal and Greece are going to be very severely impacted by the fallout from the Ukraine war. When Russia turns off the gas and stops exporting food inflation is going to skyrocket. As well the long arm of the EU will continue to exert more and more pressure on poorer member states to comply with these self destructive policies. Best to avoid the EU and look for a less risky destination.
Michael, or anyone quick question....anyone have experience in moving a stock portfolio from say Canada, North America....offshore to an overseas broker, 'in kind' without having to liquidate your stocks into cash, wire...re purchase etc....I can do this locally within Canada between the different brokers, but international? Thanx!!!!
Have you said that Mexican permanent residency is for $20,000? Does it mean that I need to pay that or move 20k to MX bank? Anyway great video, many thanks :)
That's how much you pay for the program. If interested, feel free to reach out through one of our websites. Let us know if there's anything else you'd like to see :)
Many thanks for the answer. Thinking about it so maybe I will reach you out soon. That a nice option. I would love to see in the future some more coverage about not so expensive possibilities in Mexico and Latin America
Banking account hard for me until...purchased a condo...poof...bank easy. Residency...just move $20k to Philippines Govt approved bank..poof...residency easy. After MADdemic, Permanent Residency appears to live up to promise...easy anytime access just based on permanent stamp. Manila infrastructure not to be trusted again after MADdemic, but BORACAY world class beach with decent infrastructure (transportation, food, housing). Citizenship meh...not in Asia. Probably PLAN C...elite THAI...to bounce for relief or more serious medical needs. Less than 100k to start. If BTC ever performs to PLAN B Stock to FLow...maybe we do something more exotic. ;)
Great video. I'm curious as to why you consider banking in the Caribbean bad, because from what I've seen thus far 2nd citizenship in some countries seems like a great deal in terms of taxation for investments. Is the problem a question of customer service?
Second citizenship in the Caribbean does nothing to reduce your tax on investments. Tax is a function of residency not citizenship. As for banking there have you watched some of our other videos on banking and analyzing banks?
Great video. Curious why you didn't mention Serbia? Buy a property for any price and get a residency permit. Then after 5 years, as long as nothing changes, citizenship! I was planning to do this until I heard that they don't really like people to get citizenship, so unless you're adding big money or many jobs to the economy, I heard they'll often find a reason to deny residency permit and make you start the whole 5 years over again. Do you know if this is true with Serbia?
@@OffshoreCitizen Is that always the case? In regards to Serbia, everything I've seen said you're eligible to apply for citizenship after continuous legal residence for 5 years.
The Portuguese banks mentioned appear to want a Portuguese taxpayer ID number for the account-opening process, and I have no desire to jump into the Portuguese tax net. Am I missing something?
I'm pretty sure that they don't allow dual citizenship. I could be wrong but I legit looked into Korea and the no second citizenship thing was a bit of turn off
How does the Mexican fast track perm residency thing work? I applied for a retirement visa but they denied me (for being too young) and gave me temp residency.
Yeah a lot of Latin American countries also want you to be the "retired" age as well. But I'm sure if you spoke Spanish and understood the culture, you could get around it
I feel like Crypto is dropping the ball. This would be the perfect context. But they are more interested in making money in the short term than giving sorely needed financial services.
Hoping I don't need Citizenship....BUT...THOUGHT CRIMES in the USA...long dark FASCISTS DADDY in the USA...BTC confiscation in the USA. POOF...GONE! MY line is drawn. Great content....thanks for sharing straightforward content for everyone.
@@OffshoreCitizen If citizenship beyond ASIA residences became necessary...I would take a closer look at PERU. Medical a bit of a concern but I like a place with open arms based on commitment and love of plce alone. Many friends from Philippines could be upgraded to Citizenship as well. Caribbean if less than 2 years was required.
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As always, great info! Michael and his team helped us with our Plan B move offshore. Best decision we have ever made! Thank you!!
Thank you, Arisa! It was our pleasure!
I keep hearing "my idea" mentioned in your videos. Makes me confident that we are leaning in the right direction.
We'll talk soon, Michael.
In the meantime, keep the high quality information coming. 🔥
Thank you!
Looking forward to connecting.
Any ideas for your plan B?
14:08
"Anything that I can pay once, and have a lifetime of value for, I am a big fan of that"
Same here! I absolutely love long term solutions that I have to set up just once, it is immensely satisfying!
Right? :D
What would be your example of that?
@@OffshoreCitizen
Currently there isn't much but I hope to have some in the future
Reading between the lines... this feels like probably THE most important video produced on this channel. I wonder how many will actually watch AND act?
Thank you! Happy you think so :)
How's your plan B going? :D
@@OffshoreCitizen Going to plan - like all good well-planned plans! ; )
Nice info, thanks. Reminds me of an old Italian family on how they preserved their wealth through the centuries. The answer was gold, art and land. In particular, as the supply lines go down and globalization with it, I'd consider a self-sustaining farm in one of the Med countries. Then at least the food supply is secured.
Cheap farmland in Ecuador.
Always a pleasure!
Are you working toward achieving that goal?
@@OffshoreCitizen Spain and Portugal are popular here, could be an alternative.
Great informative video, thank you. I did not know about the Mexican fast-track was such an approachable option! Will look into this.
Always our pleasure!
Feel free to contact us through one of the websites and we can assist with the program
a lot of interesting information as always! Could you do a special on the Dominican Republic? there is very little info available about what their advantages are tax wise, thanks!
You forgot Paraguay on the list of Permanent Residencies. Cheap & Life Long … plus only territorial taxation
People dont mention it because its cheap to do and is so simple it doesnt require a lawyer
Yeah Paraguay is another option
Thanks, good info. Portugal seems like an interesting option for banking.
Always a pleasure!
What is your plan B?
I heard that Malaysia is now considering making BTC legal tender. That definitely opened my eyes. But, I'm also interested in Ecuador. The idea of owning a multi hectare estate in the rainforest with a plethora of food to harvest seems like an ideal Plan B escape. The prices seem very reasonable too.
We were looking at Ecuador before Portugal but for us, it was a bit too far away - from the UK.
That's interesting. I never though of pegged currencies in that way.
It makes a lot of sense. Great tip.
Finally someone that actually shares names of banks and doesn't f around like that Andrew Hendertwat. You rock Michael, keep it up
Thank you, John! Happy you enjoy our content.
Anything you'd like to see next?
Have watched your videos for years AND, this one was the best. We look forward to working with you on our Plan B.
Best and most sobering in my opinion!
Thank you, both!
Looking forward to that, too!
Great video. Very informative. I did wonder why you excluded the Caribbean citizenships? I was considering St Kitts.
It's a decent option. The idea of this video was if all you're looking for is a back up to reduce your costs of the option in case you never use it
Successful people don't become that way overnight. What most people see at a glance wealth, a great career, purpose is the result of hard work and hustle over time. I pray that anyone who reads this will be successful in life
EQIbank is another great option. They are a global digital bank. They are also crypto friendly.
What's your experience with them?
id like to know more as well
A shock proof Plan B is such an important topic that unfortunately we often neglect!
Planning to support our health, freedom and wealth should be an everyday priority. The Mexican residency sounds very interesting...
Thank you Michael for sharing these ideas.
Bri
Always a pleasure, Bri!
What is your plan B?
@@OffshoreCitizen Nothing of substance ATM just a yacht and I'm paying dearly for not having a solid plan B having been absolutely hammered in a nasty divorce...if you think the ATO is hash the Au divorce laws and end results sadly shocking.
But I'm changing that with a tri-based plan: Australia, a base in Europe possibly Bulgaria or Romania and a base in the Americas possibly Mexico. Also starting the research for an Italian passport (Italian grandfather), Mexican PR is interesting. I need to rebuild a diverse and we'll protected investment portfolio...
Soon to buy crypto, I would like a number of accounts in these countries. Also looking into learning a new language each year.
Thanks again Michael
@@Bri-wi8kq OMG! haha seems like we're approaching doomsday the way you said it lol
My top recommendation: Mexico and Portugal residency, Turkey or St. Nevis Citizenship, banking in Multi-currency Wise account, investments in equities, precious metals and cryptocurrencies.
Thanks for sharing!
Why is that your top recommendation? :)
@@OffshoreCitizen Residency is easy and inexpensive in these locations. Both have paths to a new passport. I like Wise because it allows me to hold different currencies in different foreign banks. It is easy to do and inexpensive. Citizenship in Turkey and St. Nevis are not expensive and both are reasonable passports. I like my investments to be liquid.
What about Bulgaria?
why is st kitts citizenship better than say St Lucia citizenship?
Hide up in The Andes... $40k in a bank - investor visa in Ecuador?
16:09
"If you are saying, ok, I am willing to go spend some time somewhere. Any of the programs that can take you a couple years to get, something like *Argentina*, Peru, these are actually good passports"
In my opinion the Argentinian citizenship can be a liability, since there is no process to renounce it, and their government already has a wealth tax for individuals domiciled in Argentina, all their governments in the past half a century loved to create all kinds of taxes, I wouldn't be surprised at all if they expand the wealth tax to also include individuals who are Argentinian citizens no matter where they are domiciled, it just really seems like an unnecessary risk to take.
As opposed to the Mexican permanent residency having lifelong value, the Argentinian citizenship has lifelong risks
That's a fair argument. I'm not overly concerned about Argentina taxing non resident citizens as it violates the tax treaties. But you're always balancing risks and rewards
Michael, another great informative video. I've heard that getting a Portugal D7 visa is very quick, which does require a 6 month stay, but would only need to be proved when renewed in two years. If one had not complied, at that time one could apply for the Golden Visa. then benifit would be that 2 years would have counted towards citizenship. What are your thoughts?
We're going through the D7 now. Yes, pretty quick for us... first part about a month... then a few months for the second part in Portugal. Hopefully, all complete by August - we started 14th Feb this year.
@@tinglestingles That's awesome. Do you need to show that you have a home or a lease, or just a local mailing address?
@@michael-hansen 12 month lease minimum... but it seems every embassy has different requirements. Some okay with Airbnb/Flatio some want a full lease. It's really pot luck. It also seems all officials have discretion - so two applications, same embassy, same paperwork... different result?
The other option - if you have a close friend/relative in Portugal who can offer you appropriate accommodation - they might accept that.
The EU esp countries like Portugal and Greece are going to be very severely impacted by the fallout from the Ukraine war. When Russia turns off the gas and stops exporting food inflation is going to skyrocket. As well the long arm of the EU will continue to exert more and more pressure on poorer member states to comply with these self destructive policies. Best to avoid the EU and look for a less risky destination.
Very good Video. What do you think of Residency in Columbia as a plan B.? Thanks for all you do.
Hi Michael, fantastic content what's ur brief take on banking in St Kitts.
Terrible. You can forget most of the Caribbean for banking
Michael, or anyone quick question....anyone have experience in moving a stock portfolio from say Canada, North America....offshore to an overseas broker, 'in kind' without having to liquidate your stocks into cash, wire...re purchase etc....I can do this locally within Canada between the different brokers, but international? Thanx!!!!
Great video as always, Michael. What kind of physical presence does Argentina require during the two years before applying for citizenship? Thanks.
Need to spend at least 6 months a year there
Don’t forget each bank account overseas means more tax compliance as a US citizen, that is if the bank will even take you which mostly they won’t.
Thats not really true and the FBAR is a 1 pager
Have you said that Mexican permanent residency is for $20,000? Does it mean that I need to pay that or move 20k to MX bank? Anyway great video, many thanks :)
That's how much you pay for the program. If interested, feel free to reach out through one of our websites.
Let us know if there's anything else you'd like to see :)
@@OffshoreCitizen Maybe make a video about it? first i've ever heard of this
Many thanks for the answer. Thinking about it so maybe I will reach you out soon. That a nice option.
I would love to see in the future some more coverage about not so expensive possibilities in Mexico and Latin America
Banking account hard for me until...purchased a condo...poof...bank easy. Residency...just move $20k to Philippines Govt approved bank..poof...residency easy. After MADdemic, Permanent Residency appears to live up to promise...easy anytime access just based on permanent stamp. Manila infrastructure not to be trusted again after MADdemic, but BORACAY world class beach with decent infrastructure (transportation, food, housing). Citizenship meh...not in Asia. Probably PLAN C...elite THAI...to bounce for relief or more serious medical needs. Less than 100k to start. If BTC ever performs to PLAN B Stock to FLow...maybe we do something more exotic. ;)
is Philippines program ope again? I thought it had closed down.
Great video.
I'm curious as to why you consider banking in the Caribbean bad, because from what I've seen thus far 2nd citizenship in some countries seems like a great deal in terms of taxation for investments.
Is the problem a question of customer service?
Second citizenship in the Caribbean does nothing to reduce your tax on investments. Tax is a function of residency not citizenship.
As for banking there have you watched some of our other videos on banking and analyzing banks?
Great video. Curious why you didn't mention Serbia? Buy a property for any price and get a residency permit. Then after 5 years, as long as nothing changes, citizenship! I was planning to do this until I heard that they don't really like people to get citizenship, so unless you're adding big money or many jobs to the economy, I heard they'll often find a reason to deny residency permit and make you start the whole 5 years over again. Do you know if this is true with Serbia?
Well keep in mind you need to get permanent residency not just residency to start working towards citizenship.
@@OffshoreCitizen Is that always the case? In regards to Serbia, everything I've seen said you're eligible to apply for citizenship after continuous legal residence for 5 years.
The Portuguese banks mentioned appear to want a Portuguese taxpayer ID number for the account-opening process, and I have no desire to jump into the Portuguese tax net. Am I missing something?
Getting a NIF doesn't make you tax liable
Will the donation cost of Vanuatu citizenship be diminish after losing EU visa exemption??
Not sure
Great vid, Michael. Any thoughts on South Korean citizenship as a Plan B and the South Korean Won for currency diversification?
I'm pretty sure that they don't allow dual citizenship.
I could be wrong but I legit looked into Korea and the no second citizenship thing was a bit of turn off
Bank accounts, have you heard of the word “FROZEN” . That’s not insurance, that’s jumping out of the plane without a parachute and concrete shoes.
wtf
How does the Mexican fast track perm residency thing work? I applied for a retirement visa but they denied me (for being too young) and gave me temp residency.
You can send us a message through one of the websites and we'll be happy to assist
Yeah a lot of Latin American countries also want you to be the "retired" age as well.
But I'm sure if you spoke Spanish and understood the culture, you could get around it
Hungary is a great choice.
What makes it a great choice in your opinion?
Nice hair style today, Sir
Haha thanks!
How did you like the video?
@@OffshoreCitizen picked up an idea on Portugal banking. I like your material in general so it is hard to do it wrong. Thank you
Hi is it easy to open a personal bank account in Dubai or you should form a free zone for a business bank account
If you're a resident it is easy. If not then it is hard
Anyone catch that list of Portuguese banks? I couldn't understand them.
Caixa Geral, Atlantico, Bison Bank, Millenium BCP, Santander
Caixa Geral, Atlantico, Bison Bank, Millenium BCP, Santander
@@Bcbweb
Thanks, worth noting that Michael said Santander is for those who can travel to Portugal
I feel like Crypto is dropping the ball. This would be the perfect context. But they are more interested in making money in the short term than giving sorely needed financial services.
Hoping I don't need Citizenship....BUT...THOUGHT CRIMES in the USA...long dark FASCISTS DADDY in the USA...BTC confiscation in the USA. POOF...GONE! MY line is drawn. Great content....thanks for sharing straightforward content for everyone.
Always a pleasure!
What countries could you see yourself moving to?
@@OffshoreCitizen If citizenship beyond ASIA residences became necessary...I would take a closer look at PERU. Medical a bit of a concern but I like a place with open arms based on commitment and love of plce alone. Many friends from Philippines could be upgraded to Citizenship as well. Caribbean if less than 2 years was required.