I have an Australian passport ( born there) took your advice and was able to get my Maltese passport as well now. It is a citizen by descent took about 10 months to get it happy now..🙂
How far back were you able to go? Are any of the EU countries allowing great-grandparents? My grandpa legally adopted me as my father when I was a child, so I'm looking into what his parents and grandparents' citizenships might have been.
@spicysalsaking791 I was first generation Australian and both my parents were Maltese and came to Australia as young people....Malta allowed me to apply under these circumstances each country is different so you need to check there own rules...
I'm very curious to hear the second passport options as a person born in The Netherlands. Why this specifically? I looked it up and the way i understand it you just can't have a second passport when you're born here. There are exception to the rule but in general if you accept another passport from another country, you automatically lose your Dutch one. The only option i see is going for another EU passport (thus automatically renouncing the Dutch one). But this brings you from 1 passport to ... 1 (but now from another country that hopefully does allow you to have multiple passports). This turns into a very long (or expensive) play if you - as Dutch citizen - want to have 2 passports. With this in mind, I'm looking at your dual citizenship ranking for the Netherlands on the passport index. It's marked as 30 (which means "citizens are often allowed to hold other citizenships but with certain restrictions"). I'd classify it as 0-10 because only the exceptions are allowed to have multiple passports. Hope you folks could make a video about this specifically! I'm really curious what the realistic options are as a Dutch citizen.
@@MotivationAdonis Are you seriously even asking that question? These things are communicated on a government level. Specially if you all of a sudden say "yeah, i live in X now, not paying taxes in Y anymore", if they don't know already Y will contact X about that person and ask for clarification.
Perfect video! As someone from the Netherlands, i left my tax system and remained a citizen. Passport is A+, Tax on crypto is doable but i don't pay that due to living/cashing in different places. I'm still young, its good for now aslong as they don't introduce citizen based taxation. Looking towards diversifying more when everything is ready personally.
As a Brazilian/Italian citizen I have find your video very interesting. I intend to move to Perth to work ass a civil engineer in the next months, maybe I should take a look about tax for residents since I have some proprieties in Brazil. Cheers mate
Very interesting. I assume fees would apply to all members of the family, so if we moved for example my partner and two children each would have a cost to them for a new citizenship?
How would one leave the US tax system before crypto goes up in value considerably? Born into citizenship. Thinking about Puerto Rico, Mexico, or central American countries...
I have a Bulgarian citizenship and American citizenship as well, currently live in USA. Can I pay taxes on my crypto gains as Bulgarian citizen in Bulgaria?
Once you get an American citizenship it overrides any other citizenship for tax purposes. The US always collects, Bulgaria wouldn’t care for your taxes.
Thanks Andrew for all the content you put out to help us. I've not gotten to the point where I can get a second citizenship but I'm working towards that goal. But you've completely challenged my life and view on things in the world and I HIGHLY APPRECIATE it. Super grateful for your knowledge and kindness and looking forward to one day working with your company
Thank you for your information about worldwide relocations. To avoid crypto taxes (US) from my understanding, you need to have a permanent residence at least one year prior to selling your crypto. Crypto is tax as property. We don’t own the property in America if you are outside America. You must have lived outside the US for at least 181 days.
I think you got a new camera, looks good! I have a dual citizenship (US/NL). I live in the US but would like to move to Asia. How would I avoid (not evade) paying taxes on my crypto? I'm not looking to renounce my US citizenship. Assuming I will have to pay around 33% tax on my crypto gains in the US, how much (percentage wise) could I potentially save by using the different options that you mentioned?
Thank you! Regarding your query about minimizing taxes on crypto gains, it's a complex matter that requires personalized advice. Our team can provide tailored guidance based on your unique circumstances. Please reach out to us through this link: nomadcapitalist.com/apply/
Haven’t seen the video yet but… beware of double passports and doing this while being on a CEX. They could end up holding your coins or fiat if an AML alarm pops off
It's about getting the second citizenship before you 10x you protfolio 😉. There are many ways to get a citizenship, a residency without having millions👍
Get a job in a foreign country and have your employer sponsor your work Visa, live there for five years (depending on the country some shorter, some longer), and Bada-boom bada-bing you can get a new citizenship! I've now worked in two different foreign countries. It's not that hard. I even moved to the first one with a child, and the second one with two children.
Please. Don't stay in Thailand permanently. We are Thai people. Asia, Thailand is dangerous. The majority government is not the government. Must be a representative of the monarchy Appoint management, don't come to stay in Thailand. Talking about the king, he will be imprisoned for 15 years. There is a Thai person aged 22 who has been imprisoned for 50 years. and the king's followers are Local mafia, there are many Thai refugees, and almost 10 activists have been abducted. and government schools in Thailand Forcing students to sing their personal songs The monarchy. Thailand is like North Korea, Thailand is being intervened by China. Through a representative of the Thai Monarchy.
For very wealthy Americans it might be worth just trying to minimize your taxes with the IRS and get other citizenships rather than renounce US citizenship. Consider the taxes you pay Uncle Sam the fee for keeping your US passport.
The principles are fine, but I don't know why Turkey was recommended several (10:42) times (8:37) when its central bank has banned the use of cryptocurrencies and crypto assets since 2021.
Mr Andrew, been watching you for a while. Firstly, you said it is hard to get a second passport under 1 Mil. Thank you for that. Secondly, you are a lot stressed. Those people who are having crypto assets and holding it, your practical problem is that it will go down and then the govts will not accept it. I have a very simple solution for that. Use stable coin when you pay for the citizenship.
I can’t renounce because I would lose my Law Enforcement retirement that I spent blood ,sweat and tears for. I’m a naturalized citizen of U.S. and was born in Germany but was turned down from the German consulate in Phoenix to get a passport.He wouldn’t do it because I wasn’t fluent in German. I wasn’t too happy about that…..
Immigrants don’t renounce our citizenship because unlike most Americans we understand how much better America is than anywhere else! Its entitled wealthy Americans that imagine otherwise,
I agree with you. However if a US citizen can better her/ his life living in another country then they are not obligated to remain in the US just because immigrants and 1st generation Americans find it unthinkable.
I emigrated to U.S. from Canada and then renounced my U.S. citizenship to get out of the tax burden, while living in another tax friendly country. It happens.
There's a DJ from LA that bought some land in the desert a while back. He declared his own Kingdom and now he sells passports and Citizenship to it. I have a passport to his Kingdom. LMAO😢 I still believe that guy more than I do this guy or this channel.
LMFAO, what? Are you insane? I've followed Andrew from back when he took in 6 figure clients, and while he charges good money, his brand has value. Everyone else sells individual passports or bank accounts or residencies like they're shiny fake pocket watches out of a sketchy guy's leather coat in a back alley. Few others have the networks to combine everything.
@@spicysalsaking791 Thank you so much for your kind words and loyalty! We couldn't find your email on your profile, but we'd love to connect with you personally. Please reach out to us on our Instagram account instagram.com/nomadcapitalist/ so we can express our gratitude directly. Looking forward to hearing from you!
I love what you're saying without actually saying it, freedom costs, but it's worth it😊
The freedom is diversification and depending on how much u diversify yourself u can lower the cost you spend on freedom.
He is a NUT CASE just making $$$$$$ of CLICKS.
I have an Australian passport ( born there) took your advice and was able to get my Maltese passport as well now. It is a citizen by descent took about 10 months to get it happy now..🙂
How far back were you able to go? Are any of the EU countries allowing great-grandparents? My grandpa legally adopted me as my father when I was a child, so I'm looking into what his parents and grandparents' citizenships might have been.
@spicysalsaking791 I was first generation Australian and both my parents were Maltese and came to Australia as young people....Malta allowed me to apply under these circumstances each country is different so you need to check there own rules...
That's fantastic! Congratulations on obtaining your Maltese passport. Enjoy the benefits of your dual citizenship. 😊
More Bitcoin info please 🙏
Have you watched our recent video about The Global Crypto Tax Crackdown? You can see it here: th-cam.com/video/NdAijapvLeI/w-d-xo.html
But BTCZ
I appreciate your logic and common sense thinking. These videos are great quality. Thank you.
Glad you think so!
You don't need a second passport protect your Bitcoin. You can take it with you anywhere without any government's permission.
You can take it to Mars if you want, but as long as you are a tax resident/citizen of that country you still owe those taxes.
@@Daniel_RG I lost my keys in a boating accident.
@@classicsforever66 That's irrelevant, you still owe those taxes.
@@Daniel_RG I don’t have it. It was lost. Thats not how it works at all. Lost property does not have taxes.
@@classicsforever66 "After the Tax Cut and Jobs Act of 2017, lost and stolen cryptocurrency is no longer tax deductible"
Our tax in South Africa is about 46% a year in Mauritius it's about 15% a year.
I'm very curious to hear the second passport options as a person born in The Netherlands. Why this specifically? I looked it up and the way i understand it you just can't have a second passport when you're born here. There are exception to the rule but in general if you accept another passport from another country, you automatically lose your Dutch one.
The only option i see is going for another EU passport (thus automatically renouncing the Dutch one). But this brings you from 1 passport to ... 1 (but now from another country that hopefully does allow you to have multiple passports). This turns into a very long (or expensive) play if you - as Dutch citizen - want to have 2 passports.
With this in mind, I'm looking at your dual citizenship ranking for the Netherlands on the passport index. It's marked as 30 (which means "citizens are often allowed to hold other citizenships but with certain restrictions"). I'd classify it as 0-10 because only the exceptions are allowed to have multiple passports.
Hope you folks could make a video about this specifically! I'm really curious what the realistic options are as a Dutch citizen.
Mate just get another passport and only use Netherlands for EU and other countries as necessary
@@MotivationAdonis as i said, it looks like that isn't possible. Other passport = bye bye Netherlands passport.
@@markg5891 how will they know you have another passport
@@MotivationAdonis Are you seriously even asking that question? These things are communicated on a government level. Specially if you all of a sudden say "yeah, i live in X now, not paying taxes in Y anymore", if they don't know already Y will contact X about that person and ask for clarification.
@@markg5891 the UK government for example won’t tell Netherlands hey this guy now has a British passport. It’s on you to report it or not to.
Perfect video! As someone from the Netherlands, i left my tax system and remained a citizen. Passport is A+, Tax on crypto is doable but i don't pay that due to living/cashing in different places. I'm still young, its good for now aslong as they don't introduce citizen based taxation. Looking towards diversifying more when everything is ready personally.
Thank you!!🎉🎉
As a Brazilian/Italian citizen I have find your video very interesting. I intend to move to Perth to work ass a civil engineer in the next months, maybe I should take a look about tax for residents since I have some proprieties in Brazil.
Cheers mate
I am a South African what do you think of Mauritius for citizen ship
Solid advise
Very interesting. I assume fees would apply to all members of the family, so if we moved for example my partner and two children each would have a cost to them for a new citizenship?
How would one leave the US tax system before crypto goes up in value considerably? Born into citizenship. Thinking about Puerto Rico, Mexico, or central American countries...
We've talked about this extensively and this and other videos; feel free to search the channel: th-cam.com/video/W9xfjU6Hq-k/w-d-xo.html
There’s places you can get second virtual citizenships just for online use
I have a Bulgarian citizenship and American citizenship as well, currently live in USA. Can I pay taxes on my crypto gains as Bulgarian citizen in Bulgaria?
Nope. Your assets would most likely be taxed in the US, as the US applies citizenship-based taxation.
Once you get an American citizenship it overrides any other citizenship for tax purposes. The US always collects, Bulgaria wouldn’t care for your taxes.
Nice
Thanks Andrew for all the content you put out to help us. I've not gotten to the point where I can get a second citizenship but I'm working towards that goal. But you've completely challenged my life and view on things in the world and I HIGHLY APPRECIATE it. Super grateful for your knowledge and kindness and looking forward to one day working with your company
Thank you for your kind words! Keep working towards your goals! We will be happy to serve you.
"I lost all my crypto in a boating accident." Thank for coming to my TED talk
Thank you for your information about worldwide relocations.
To avoid crypto taxes (US) from my understanding, you need to have a permanent residence at least one year prior to selling your crypto. Crypto is tax as property. We don’t own the property in America if you are outside America. You must have lived outside the US for at least 181 days.
I think you got a new camera, looks good! I have a dual citizenship (US/NL). I live in the US but would like to move to Asia. How would I avoid (not evade) paying taxes on my crypto? I'm not looking to renounce my US citizenship. Assuming I will have to pay around 33% tax on my crypto gains in the US, how much (percentage wise) could I potentially save by using the different options that you mentioned?
Thank you! Regarding your query about minimizing taxes on crypto gains, it's a complex matter that requires personalized advice. Our team can provide tailored guidance based on your unique circumstances. Please reach out to us through this link: nomadcapitalist.com/apply/
Haven’t seen the video yet but… beware of double passports and doing this while being on a CEX. They could end up holding your coins or fiat if an AML alarm pops off
Never store you crypto assets on an exchange
why not just become permanent resident? why change citizenship?
Andrew, can you do a video about military service for kids of second passport holders who have citizenships as minors going to age of majority
Like this comment if you don’t have a 1M $ on your bank account or assets and can’t afford a second citizenship 😅
Nobody has $1M in a bank account
@@mbican a lot of people do, even in cash(when market goes down)
It's about getting the second citizenship before you 10x you protfolio 😉.
There are many ways to get a citizenship, a residency without having millions👍
Get a job in a foreign country and have your employer sponsor your work Visa, live there for five years (depending on the country some shorter, some longer), and Bada-boom bada-bing you can get a new citizenship! I've now worked in two different foreign countries. It's not that hard. I even moved to the first one with a child, and the second one with two children.
Please. Don't stay in Thailand permanently.
We are Thai people. Asia, Thailand is dangerous. The majority government is not the government. Must be a representative of the monarchy Appoint management, don't come to stay in Thailand. Talking about the king, he will be imprisoned for 15 years. There is a Thai person aged 22 who has been imprisoned for 50 years. and the king's followers are Local mafia, there are many Thai refugees, and almost 10 activists have been abducted. and government schools in Thailand Forcing students to sing their personal songs The monarchy. Thailand is like North Korea, Thailand is being intervened by China. Through a representative of the Thai Monarchy.
HEX bros are on it
For very wealthy Americans it might be worth just trying to minimize your taxes with the IRS and get other citizenships rather than renounce US citizenship. Consider the taxes you pay Uncle Sam the fee for keeping your US passport.
My grandfather was born in Cuba. Cuba doesn’t have citizenship through ancestry I don’t think. Their passport isn’t the best though…
Having a Cuban, Russian or North Korean citizenship is like being proud you have dirty underwear. Nobody wants to see it or know about it.
The principles are fine, but I don't know why Turkey was recommended several (10:42) times (8:37) when its central bank has banned the use of cryptocurrencies and crypto assets since 2021.
You have to be nut or a Muslim to choose to live in Turkey.
Probably learn how to self-custody and coinjoin instead
Western counties are finding a way to make more money off of average earners through taxing crypto diversification can help beat with this.
We bet that Telegram founder will leave the UAE soon
FJB
Mr Andrew, been watching you for a while.
Firstly, you said it is hard to get a second passport under 1 Mil. Thank you for that.
Secondly, you are a lot stressed. Those people who are having crypto assets and holding it, your practical problem is that it will go down and then the govts will not accept it. I have a very simple solution for that. Use stable coin when you pay for the citizenship.
DOUBLE tax treaty networks are becoming serious prospects!🏥
Here hoping America weakens from incompetance to the point that their laws stop at their border.
ALWAYS AMAZING CONTENT 🏆I have several questions , what’s the best number to contact you
Glad you liked it! You can contact us through this link: nomadcapitalist.com/apply/
I can’t renounce because I would lose my Law Enforcement retirement that I spent blood ,sweat and tears for. I’m a naturalized citizen of U.S. and was born in Germany but was turned down from the German consulate in Phoenix to get a passport.He wouldn’t do it because I wasn’t fluent in German. I wasn’t too happy about that…..
🤔
Immigrants don’t renounce our citizenship because unlike most Americans we understand how much better America is than anywhere else! Its entitled wealthy Americans that imagine otherwise,
I agree with you. However if a US citizen can better her/ his life living in another country then they are not obligated to remain in the US just because immigrants and 1st generation
Americans find it unthinkable.
Yeah, everyone's situation is different. If you are expecting to be exceptionally wealthy, might be worth it to pack your bags and go somewhere else.
I emigrated to U.S. from Canada and then renounced my U.S. citizenship to get out of the tax burden, while living in another tax friendly country. It happens.
There's a DJ from LA that bought some land in the desert a while back. He declared his own Kingdom and now he sells passports and Citizenship to it. I have a passport to his Kingdom. LMAO😢 I still believe that guy more than I do this guy or this channel.
LMFAO, what? Are you insane? I've followed Andrew from back when he took in 6 figure clients, and while he charges good money, his brand has value. Everyone else sells individual passports or bank accounts or residencies like they're shiny fake pocket watches out of a sketchy guy's leather coat in a back alley. Few others have the networks to combine everything.
LOL! So... why are you even here on this channel then? 🙄😒
@@spicysalsaking791 Thank you so much for your kind words and loyalty! We couldn't find your email on your profile, but we'd love to connect with you personally. Please reach out to us on our Instagram account instagram.com/nomadcapitalist/ so we can express our gratitude directly. Looking forward to hearing from you!
first :D
Trust me you are not