its true, USA citizenship has some seriously negative trade-offs... im cautiously optimistic to one day see the end of double taxation, and cap gains...
I‘m a Entrepreneur from Germany, but I‘m originally from Turkey, so I do have 2 Passports. Technically I‘m not paying any taxes back in Germany because my business and investments are in Turkey and the UAE. I can use all the European infrastructureonly by paying a small amount of 250€ for my private health insurance. Regarding my turkish citizenship - In TÜRKIYE there‘s no questioning about the source from the money. As a foreigner avoiding taxes is very easy. You can easily buy a property and rent it out while getting the citizenship and relocate your business there to avoid taxes. So summarized I’d definitely recommend it to high figure entrepreneurs. Going more detailed on my videos.
I don’t get how they would know whether you have any particular passport. So you’re saying having a Cuban passport or a Pakistani passport could cause trouble. if you’re going into a different country, wouldn’t they only know about the passport that you present? Or is there some sort of global database that lists all the different passports that one has?
I imagine only the one you present given they have a limited database. But I’m not certain on this. I’m not sure what would happen if you were asked if you had any other citizenships and for the sake of saying “no” to be allowed access to that place could come with serious repercussions. But I don’t imagine they would I’d do your research depending on where you want to go and their custom procedures and requirements.
just try to think about the worldwide-based database with your fingerprints which are linked to one passport and suddenly another passport is presented somewhere. Is it possible?
If you have pakistani passport, it would be very difficult to enter gulf countries, asean countries, israel and india. India will not allow any pakistani origin foreign national or pakistani national with dual or multiple nationality to enter through major international airports and integrated check post, they would have to enter through wagah - attari border.
2:24 Can you pleas provide a link to Germany considering it (tax based on citizenship)? I am applying for Germany citizenship, and now will have to consider removing it in case they go through with it.
It's stressful being a US citizen. I think if you have a bad citizen get US citizenship, if you are Cuban or Iranian american I would get it, and I would get it even if I were a Ukrainian citizen, is not a bad passport but do you want to meat grinder? I was forced to get a US citizen, and I was stressed out and I was a minor. I think Trump lied to get your vote. I don't believe him, to end US citizen-based taxation you need to end the dollar as a reserve currency.
@akashsxo No wealth Tax, No questioning source of fund, anytime you can send any money from account to abroad, in 6 months you can get citizenship if you invest 400K property, 130 direct flights anywhere in the world, 38th strongest passport and 127 Visa Free or arrival visa
Actually Pakistani citizenship has a great value if you have money. "In the land of blind, a man with one eye is kind" Yes it's true in the case of pakistan. If you have 100,000US$ in a bank or in business it's very easy for you to travel and get a long term visa. Normal people have a hard time to get any visas but if you're above them which is not that hard you have way more privileges than others and you live like a kind. And the lifestyle in Pakistan for the above poor is really great just don't mess with the Army leadership there.
I am French. I can get the Polish bassport by descent. If you were in my position would you replace with Polish nationality or Russia's clotheness and draft is too much a risk for tax?
If I renounce my US passport and only keep my Portugal passport. Do I have disclose that I renounced my US passport when applying for a Mexican passport?
They are immigrants. I don't know why they call themselves 'expats'. Is it their passports, USA, UK, AUS, ITA? Their skin tones? The way they travelled to the country, by planes instead of dinghies?
Hi really nice video. I hope you could help me with my questions: 1. Does the US green card bear the same baggage as per the US citizenship? I'm living in Europe, and I don't think I will live in the US for long (I am going to get the green card or citizenship by marriage). 2. I heard that the bill proposing taxing French based on citizenship has failed in the French parliament. Any detailed update about the recent develop in France?
@@ksj1526 I gather you are concerned about your assets in Europe? Simple stuff first. If your spouse is a U.S. citizen, they will file federal/state income taxes. Most likely when you receive your green card you will also obtain a social security number. When your spouse files taxes, there are benefits to filling as married. The U.S. government wants to know about all earned income globally. But the reality is it's unlikely income earned in Europe is reported to the U.S. government. Really depends on how the income is earned and the amount we are talking about in Europe. As for U.S. citizenship, you need to be on a green card and reside in the U.S. for like 6/7 years before you would qualify for U.S. citizenship.
Well I don't know if it is a negative for the United States to end citizensship based taxation. I asked AI and it said the cost of collection is about 42 billion dollars and the IRS collects about $7 billion. The cost of collection of course also includes the time that the victims have to put into filling out the documentation but it is still a cost for Americans. Overall it's a huge waste of time both for the IRS and for those poor US citizens who no longer live in the United States
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I suppose if the target audience is strictly for those who want passports solely for the purpose of avoiding taxes, fine. But that's not me. My children have 4 passports, all by descendants. They speak 4 languages. Their purpose is free access and movement in those regions. We currently live in the U.S. Children are speaking English. US citizenship of course gives access to the largest economy in the world. When they go to Chile, they speak Spanish and have free access to all of Latin America. When they go to Germany, they speak German and have access to the E.U. Going to Israel, they speak Hebrew, but that's on hold right now for obvious reasons.
The problem will arise when you go to live and work in other countries, not just visit. That's the part he's talking about when he said that US citizenship will make your life "ridiculously harder". It's not about avoiding taxes, but being able to live normally and do things like open a checking account in a foreign country.
@LisaCulton First you have to make a distinction between naturalized citizens and citizenship by descent. Vastly different. Also, the U.S. does not allow dual citizenship by naturalization. Citizenship by descent is pretty easy. Naturalized can get really complicated depending on the countries.
@@David-rl7yr You're not understanding. It doesn't matter how many other citizenships you have or how you got them (naturalization, descent, investment, etc.), if you are a US person (citizen or green card), your life abroad will be complicated beyond recognition. For example, it took my teen months to open a bank account in Switzerland even though he is a Swiss permanent resident and has EU citizenship... But he's also a US person. It's extremely frustrating.
@@David-rl7yr I think you mean naturalization, and yes, the US does allow dual citizenship by naturalization, as long as the person is a US citizen by birth. But that's irrelevant when you're attempting to establish a life outside of the US.
@@LisaCulton damn auto-correct. Anyway, by birth is not naturalized. Also, never mentioned permanent resident. A different thing. My children have 4 citizenships by descent. Acquired at birth by me and their mother. Can't speak about what's going on in Switzerland. You mentioned your teen. Maybe it's an age thing? Certainly a minor would need parental authorization. When my adult children are in one of their respective countries, they never divulge they have multiple citizenships. Why would they? The U.S. wants to know about global assets and income, but that is a tax/U.S. issue.
so are you saying if I have an Australian & Greek Passport, spend no more than 60 days in a 365 day calendar month in Australia and invest in dubai. I still have to pay tax in Australia, even if i have no investment there.
Australia doesn't just have a days test. ATO looks at your connections to AU (Houses, cars, family, bank accounts, phone plan, etc). They literally word you moving tax residence as "until we are satisfied that you are no longer a tax resident of Australia"
The UK passport is excellent. Feels like people are getting disconnected with how bad some peoples passports are… sure the UK doesn’t have EU access anymore, but we’re still talking about visa-free travel for most countries.
Lol. Me watching from Pakistan 🇵🇰. But we love US much bcz we think other countries are not stable as much. If their passport good today no one know their tomorrow. So US is a always for us. Make a video on this and explain the concept. Make us understand the logic that why we chose a US
I'm stateless person but I'm a canadian resident, i live very long time in Canada but there is no particular desire to become a citizen of this country.
Donald Trump has said he's going to remove citizenship based taxation, obviously you don't really see him doing it because you already renounced and you would look rather shall we say "silly "to put it politely when he does.
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You should make timeline on your video so viewers can have easy access to your video info
Great idea I'll do that
very true
Yess
Even the Netherlands(my home country) is considering citizenship based taxation called Exist Tax for 5years after you leave the Netherlands.
GTFOOT asap then. They are treating you like a slave
That was a very well presented and reasoned analysis!
1:42 I'm (for now) an Australian citizen & *COMPLETELY* agree!
Thanks Raf, great content as always
its true, USA citizenship has some seriously negative trade-offs... im cautiously optimistic to one day see the end of double taxation, and cap gains...
You should not be optimistic about that outcome because if one thing is certain; the US govt always wants *MORE* control / money from it's citizens
Great topic 👏
I‘m a Entrepreneur from Germany, but I‘m originally from Turkey, so I do have 2 Passports. Technically I‘m not paying any taxes back in Germany because my business and investments are in Turkey and the UAE. I can use all the European infrastructureonly by paying a small amount of 250€ for my private health insurance. Regarding my turkish citizenship - In TÜRKIYE there‘s no questioning about the source from the money. As a foreigner avoiding taxes is very easy. You can easily buy a property and rent it out while getting the citizenship and relocate your business there to avoid taxes. So summarized I’d definitely recommend it to high figure entrepreneurs. Going more detailed on my videos.
2:24 Citation needed on your mention of Germany CBT plans.
I don’t get how they would know whether you have any particular passport. So you’re saying having a Cuban passport or a Pakistani passport could cause trouble. if you’re going into a different country, wouldn’t they only know about the passport that you present? Or is there some sort of global database that lists all the different passports that one has?
I imagine only the one you present given they have a limited database. But I’m not certain on this. I’m not sure what would happen if you were asked if you had any other citizenships and for the sake of saying “no” to be allowed access to that place could come with serious repercussions. But I don’t imagine they would I’d do your research depending on where you want to go and their custom procedures and requirements.
There is a global database, and once you use any passport, it is reflected there
just try to think about the worldwide-based database with your fingerprints which are linked to one passport and suddenly another passport is presented somewhere. Is it possible?
Fantastic. Now I only need a couple of million dollars to do these things.
i have the spain passport, what do you think about it?
Very good of course, don't think Spain will be able to tax their citizens effectively abroad
@@WealthyExpat what about the Portuguese one?👀
That's the best one to have among all E.U @@solarcash
@@solarcash it’s a top notch passport
I D Trump wasn't t elected, i would not even want to visit there. Same for Canada .Now…but only to have a visit.Passport? Oh no!
If you have pakistani passport, it would be very difficult to enter gulf countries, asean countries, israel and india. India will not allow any pakistani origin foreign national or pakistani national with dual or multiple nationality to enter through major international airports and integrated check post, they would have to enter through wagah - attari border.
2:24 Can you pleas provide a link to Germany considering it (tax based on citizenship)? I am applying for Germany citizenship, and now will have to consider removing it in case they go through with it.
Great video you forgot the UK.
Nice Shirt bro
Talk about north macedonia citizenship
You are amazing
What are the cutoff to work with you? Like i don't wanna book a call if i know i will be wasting your time
It's stressful being a US citizen. I think if you have a bad citizen get US citizenship, if you are Cuban or Iranian american I would get it, and I would get it even if I were a Ukrainian citizen, is not a bad passport but do you want to meat grinder? I was forced to get a US citizen, and I was stressed out and I was a minor. I think Trump lied to get your vote. I don't believe him, to end US citizen-based taxation you need to end the dollar as a reserve currency.
Regardless of costs, what is the BEST BEST BEST passport to get in short period of time; ie. 6 months, 1 year, 2 years, ,,,,,?
El Salvador only 2 months
Turkish citizenship is best ❤🇹🇷
@akashsxo No wealth Tax, No questioning source of fund, anytime you can send any money from account to abroad, in 6 months you can get citizenship if you invest 400K property, 130 direct flights anywhere in the world, 38th strongest passport and 127 Visa Free or arrival visa
Yes for Erdogan and his voter 😅
@@citizenturkfor foreigners it's great.I can't say same for locals.
@@memreoz expect for the fact of not being able to go to Europe without a visa Turkish citizenship is actually decent.
Why so many turkish citizens run thru Mexican US border? Maybe they tired from Erdogan regime?
I was going to give up on my french one for the Australian one lol
is the Pakistan cbi program still on going?
You should ad Canada. %50 capital gain
Le Pakistan: Getting beaten left and right 😀
What do you think of trinidad & tobago passport ???
Actually Pakistani citizenship has a great value if you have money. "In the land of blind, a man with one eye is kind" Yes it's true in the case of pakistan. If you have 100,000US$ in a bank or in business it's very easy for you to travel and get a long term visa. Normal people have a hard time to get any visas but if you're above them which is not that hard you have way more privileges than others and you live like a kind. And the lifestyle in Pakistan for the above poor is really great just don't mess with the Army leadership there.
AnY thoughts on Croatia passport?
Just watched your video discussing XAI66Q and I am very excited about this
How about Argentina and Chile?
I am French. I can get the Polish bassport by descent. If you were in my position would you replace with Polish nationality or Russia's clotheness and draft is too much a risk for tax?
If I renounce my US passport and only keep my Portugal passport. Do I have disclose that I renounced my US passport when applying for a Mexican passport?
Expat? These blokes flatter themselves. The current vernacular for these types is pp or gg. Pusi prowler or Gary glitter.
They are immigrants. I don't know why they call themselves 'expats'. Is it their passports, USA, UK, AUS, ITA? Their skin tones? The way they travelled to the country, by planes instead of dinghies?
Hi really nice video. I hope you could help me with my questions: 1. Does the US green card bear the same baggage as per the US citizenship? I'm living in Europe, and I don't think I will live in the US for long (I am going to get the green card or citizenship by marriage). 2. I heard that the bill proposing taxing French based on citizenship has failed in the French parliament. Any detailed update about the recent develop in France?
@@ksj1526 I gather you are concerned about your assets in Europe? Simple stuff first. If your spouse is a U.S. citizen, they will file federal/state income taxes. Most likely when you receive your green card you will also obtain a social security number. When your spouse files taxes, there are benefits to filling as married. The U.S. government wants to know about all earned income globally. But the reality is it's unlikely income earned in Europe is reported to the U.S. government. Really depends on how the income is earned and the amount we are talking about in Europe. As for U.S. citizenship, you need to be on a green card and reside in the U.S. for like 6/7 years before you would qualify for U.S. citizenship.
Which Specific Country You Recommend For Citizenship.
Bro you got featured in legion of men 😊
Somalia, Haiti, Venezuela, Iraq and Iran? I am American but I could get Italian and Irish citizenship by descent.
Wow. Work on getting those Irish and Italian citizenships.
Well I don't know if it is a negative for the United States to end citizensship based taxation. I asked AI and it said the cost of collection is about 42 billion dollars and the IRS collects about $7 billion. The cost of collection of course also includes the time that the victims have to put into filling out the documentation but it is still a cost for Americans. Overall it's a huge waste of time both for the IRS and for those poor US citizens who no longer live in the United States
I think you have 3 passport Mexico, Serbia and Saint kitts and Nevis.
I really appreciate your efforts! Could you help me with something unrelated: I have a SafePal wallet with USDT, and I have the seed phrase. (alarm fetch churn bridge exercise tape speak race clerk couch crater letter). How should I go about transferring them to Binance?
Of course removing taxes in the US would benefit US. It would be easier to people who live there. That's benefit.
I wish I could move out of the United States and escape from all of its evil.
They are creating such a web people will not be able to escape.
XAI66Q is still extremely undervalued
I suppose if the target audience is strictly for those who want passports solely for the purpose of avoiding taxes, fine. But that's not me. My children have 4 passports, all by descendants. They speak 4 languages. Their purpose is free access and movement in those regions. We currently live in the U.S. Children are speaking English. US citizenship of course gives access to the largest economy in the world. When they go to Chile, they speak Spanish and have free access to all of Latin America. When they go to Germany, they speak German and have access to the E.U. Going to Israel, they speak Hebrew, but that's on hold right now for obvious reasons.
The problem will arise when you go to live and work in other countries, not just visit. That's the part he's talking about when he said that US citizenship will make your life "ridiculously harder". It's not about avoiding taxes, but being able to live normally and do things like open a checking account in a foreign country.
@LisaCulton First you have to make a distinction between naturalized citizens and citizenship by descent. Vastly different. Also, the U.S. does not allow dual citizenship by naturalization. Citizenship by descent is pretty easy. Naturalized can get really complicated depending on the countries.
@@David-rl7yr You're not understanding. It doesn't matter how many other citizenships you have or how you got them (naturalization, descent, investment, etc.), if you are a US person (citizen or green card), your life abroad will be complicated beyond recognition. For example, it took my teen months to open a bank account in Switzerland even though he is a Swiss permanent resident and has EU citizenship... But he's also a US person. It's extremely frustrating.
@@David-rl7yr I think you mean naturalization, and yes, the US does allow dual citizenship by naturalization, as long as the person is a US citizen by birth. But that's irrelevant when you're attempting to establish a life outside of the US.
@@LisaCulton damn auto-correct. Anyway, by birth is not naturalized. Also, never mentioned permanent resident. A different thing. My children have 4 citizenships by descent. Acquired at birth by me and their mother. Can't speak about what's going on in Switzerland. You mentioned your teen. Maybe it's an age thing? Certainly a minor would need parental authorization. When my adult children are in one of their respective countries, they never divulge they have multiple citizenships. Why would they? The U.S. wants to know about global assets and income, but that is a tax/U.S. issue.
What about Canada? Yay or nay?
so are you saying if I have an Australian & Greek Passport, spend no more than 60 days in a 365 day calendar month in Australia and invest in dubai. I still have to pay tax in Australia, even if i have no investment there.
Australia doesn't just have a days test. ATO looks at your connections to AU (Houses, cars, family, bank accounts, phone plan, etc). They literally word you moving tax residence as "until we are satisfied that you are no longer a tax resident of Australia"
Canadian passport ?
I see you didn't mentioned the UK Passport is it better than French and German.
Wouldn't want it either since I criticize the UK government so much, but for the average person yes it's a good one with good visa free access
The UK passport is excellent. Feels like people are getting disconnected with how bad some peoples passports are… sure the UK doesn’t have EU access anymore, but we’re still talking about visa-free travel for most countries.
Lol. Me watching from Pakistan 🇵🇰.
But we love US much bcz we think other countries are not stable as much. If their passport good today no one know their tomorrow. So US is a always for us. Make a video on this and explain the concept. Make us understand the logic that why we chose a US
Imagine *WILLINGLY* getting your US citizenship lol
I'm stateless person but I'm a canadian resident, i live very long time in Canada but there is no particular desire to become a citizen of this country.
👀
did you forget N. Korean?
lol, they don’t have option even
I will probably get my Afghanistan Passport by investment, hopefully it will let me leave the shitcountry i'm currently living in.
Where is it?
Oh, my gosh! That could be like jumping from the frying pan into the fire, especially for a woman.
YOU LOOK LIKE PAK
😅
Donald Trump has said he's going to remove citizenship based taxation, obviously you don't really see him doing it because you already renounced and you would look rather shall we say "silly "to put it politely when he does.
I have Iranian passport, even Iranian passport is not so bad like us
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Thanks for sharing XAI66Q and SUI. 💯
Bought XAI66Q after watching your video, super excited! 💰
Thanks for the advice! Got XAI66Q, feeling bullish! 🚀