The Best Second Citizenship for Americans
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- เผยแพร่เมื่อ 25 ก.ค. 2024
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Whatever happens in the world shouldn’t distract you from the fundamental principles of being a Nomad Capitalist. After all, I have only been able to deal with the latest economic and political developments because these fundamentals are in place.
In this video, Andrew Shares The Best Second Citizenship for Americans.
00:00 Start
0:18 The Best Second Passport for Americans
2:06 Portugal's Passport
2:10 Mexican Passport
2:27 Citizenship By Investment
3:19 Why Americans Need Second Passport
4:06 Moving to Puerto Rico
4:26 Where Can you Move?
7:24 Caribbean Passports
9:50 Turkish Passport
10:30 How You Can Get A Second Passport
The Nomad Capitalist is the world's most sought-after expert on legal offshore tax strategies, investment immigration, and global citizenship. We work exclusively with seven- and eight-figure entrepreneurs and investors who want to "go where they're treated best."
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Nomad Capitalist has created and implemented plans for 1000+ clients and helped them to go offshore, keep more of their wealth, and enjoy an unprecedented level of global freedom. Our growing team of researchers, strategies, and implementers add to our ever-growing knowledge base of the best options available. We've built our team around our holistic approach to serving the needs of globally-minded entrepreneurs and investors.
Our growing team of researchers, strategies, and implementers add to our ever-growing knowledge base of the best options available. In addition, we've spent years studying the behavior of hundreds of clients in order to help people get the results they want faster and with less effort.
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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.
Thanks to your videos my husband has started the process of tracking down family documents with the goal of obtaining Hungarian citizenship. It's entirely thanks to one of your early channel videos.
I have 3 passports by default. I was born in the UK and have that passport. My family migrated to Australia and I am naturalized, and I have that passport. My father was Irish and I have a passport because of Paternity, and that gives me residency to all the EU also.
That is awesome.
I also have three citizenships: the United Kingdom (by birth), Trinidad and Tobago (descent), and the United States (naturalization).
@@joenicedj Great! If you have a European passport and the United States passport you still need to pay income tax for USA??
I have two
Irish passport jackpot. Can’t name a country that hates Ireland
So nice 👍 i want to have 3 passports lol
Honestly, the United States really appears to be in serious decline.
No doubt!
Thanks Obama
And Australia and the UK. Way too Much entitlement that’s what it is. I’m an American who lives in Australia
Listen to Peter Zeihan
@@kurtco7 Honestly, I find Zeihan to be quite jingoistic and hubristic.
Hey Andrew, I’ve been watching your content for years while building my business and preparing for my exit and let me just say, this is one of the best videos I’ve ever seen. Keep up the excellent work
Good video. As an American world traveler, a US passport is very useful. However, having more than 1 is the best.
Excellent information here. Many thanks, Andrew!
Thanks Andrew, good stuff, as always. I had sent an email to you all regarding Grenada last week, even mentioning the hurricane belt as a consideration, so you might have been referencing my inquiry. It seems that Grenada is also somewhat unique amongst the CBI options with its access to China and Russia, in addition to the E2 you mention. Not that China and Russia top my destination list (at this time), it certainly might for others... Another benefit of Grenada and other (most/all?) CBIs is the Commonwealth. If for example one later wishes to pursue Mauritius residency or citizenship, I believe having a Commonwealth citizenship already is advantageous in reducing the required time frames... Good stuff Andrew and team, thanks again.
You need to make a video about the best SHTF passports, it will get you alot of views
He did that two years ago or so.
Lame. The problem is when ppl keep running instead of standing up against the issues is eventually you will run out of places to go, stop acting like a coward.
8:37 😂 I love Andrew’s euphemisms “moving dirt” 😂👍
Excellent, i just returned to Australia, it feels dead compared to Asia and so many weirdo types around,it feels like there are many issues and its so expensive
I'm Australian and returned from a year in Mexico a few months ago. I feel the same and yes it is very expensive here! I'm planning on going back to Mexico next year.
It's the same in the US. The government is getting more and more aggressive about coming after our resources. The writing is on the wall, is a saying over here.
Awesome!
Andrew, love the content, keep it up!
Would be awesome if you/your team could make a video on pros/cons of GETTING an American citizenship if you're a green card holder
Thousands of Americans have been forced out of their citizenships because of FATCA. The only reason to have US citizenship is if you plan to live there the rest of your life. If not? The IRS makes your life a living hell. Green card holders are also trapped in this system, unfortunately.
lol.
Hey Andrew, would you do a video talking about the best countries to get a second passport in which you have the most access to the USA. For example, if you wanted to expatriate but still wanted as much access to the USA as possible, what would be the best passports to get.
This channel in 2030: Why americans should have 10 passports
I have Irish & Italian citizenship by decent. Born in USA, dad born in Ireland and grandma born in Italy.
Good luck getting a house in Ireland it's going to the "new Irish".
Hi Andrew. I truly enjoy your videos and have learned a lot from them. Can you address the matter of the obligations that multiple citizenships impose? Are people taxed by more than one country? Military duty?
Depends on the country that you have multiple passports for.
I look forward to your daily videos. Thank you so much for the information. One day I will utilize it for multiple passports and/or to renounce my US citizenship. Keep up the good work. Always remain positive regardless of what the detractors say or do.
Shouldn't Andrew be talking about Liberland??
@@thinkcasting3182 No. Liberland lacks international recognition as an independent state.
Love your ideas. How do you handle the negative sides of other citizenships, such as military service requirements, etc.? Turkey, for example, has required military service up to 45 years of age.
This depends on the countries involved. In some countries, you automatically lose (or can lose) their citizenship for so much as filling out a draft card. Some countries will exempt you from military service if you have served in any military. And then there are countries where "military" service is required but it can be doing litter patrol in a tourist city for a day which won't get you in trouble with countries that only prohibit fighting in a foreign army against your country of citizenship. Sometimes you can legally escape military service by simply not visiting the country until after the draft age.
Hi Andrew, can I ask, what is your opinion about Bahrain ? I've seen afew TH-cam videos and could it be the next Dubai?
It's on my radar as a location to move my company.
Good video.
Amazing eyebrow action. Must take lots of practice.
Curious as to how the resent earthquake in Turkey has, if at all changed your analysis.
I have a Taiwan Passport and working towards my Australian passport through a skilled worker visa pathway, while my family is getting an Irish stamp 4 status through IPP for me. Is it worth getting a Canadian passport after all this and also not sure if having two EU passports is a reasonable choice (like living in Sweden for 5 years)?
Will it be held against you if you expatriate and then apply for E2? My husband is already a passport holder of an E2 treaty country...but we are both also US citizens. Wondering how frequently renouncing is held against you?
what's the best for europeans?
New Zealand!
Didn't Grenada cancel its E2 visa program?
I don’t know, family from Haiti , might be tough to get a passport from there
Unless your a multi millionaire how can you have a bank overseas when the fed makes it so difficult to even have a bank overseas?
The Best Second Citizenship is a replacement for your US one if you have the finances.
Guy should open up a division in his company for more lower 1%. Could outsource the work to a cheap team and still keep quality work
I have an American and Mexican passport; hoping to get a third…
I have an American and Peruvian passport, I want to move to Spain and probably have a Spanish passport.
Im from puerto rico. We have uniter state citizenship since we are born.
I need another one.. i wanted spain because it's the mother land.
I might be partial but, Egypt has just loosened golden visa requirements.
All you need is buying a property and you'll get residence immediately and citizenship in 3 years.
The economy is growing over there and taxes are lower, if you have business skills and ideas/know-how you can be a "pioneer" .... weather is good, very safe, beautiful beaches, socially and fiscally conservative.
Also if you're Christian, or Muslim there are many houses of worship for both Christians and Muslims.
Sounds interesting. I just don't like how much turmoil there is in many Middle Eastern countries and / or their neighbors. Didn't Egypt just turn its leadership over during the Arab Spring? And that was during the Obama Administration. Not that long ago, how long will that last?
I truly wish I was talking crap, but from the experience of all my friends, Egypt is NOT the place to be. If I had to get long-term residency in the general area (outside of Europe), I'd pick Turkey.
@@andrewcarlson2178 No, Egypt was one of the few countries whose governments managed to stay in power. The elite decided to quietly retire Mubarak when he was sent abroad for healthcare reasons after the riots.
Is there a place on earth that is:
1. Sunny, not cloudy and depressing
2. English speaking
3. Cheap to live in
My personal opinion..... The Philippines
Belize, Jamaica.
@@hotrox2112 Unfortunately it's expensive and in the US.
@@hotrox2112 Florida is in many parts as expensive if not more expensive than California these days, despite all the hype around it.
Yeap, Malaysia. That’s for sure. Developed, modern, laid back, English speaking, cool weather, safe from Earthquakes or cyclones, best people and best food, multicultural, open for business, cheaper version of Singapore.
Imo, If I were to get another passport, I wouldn't want to just throw away my United States one. Many people work hard just to get naturalized in the US. I'm grateful that I was born here, even if the US is kinda going downhill. The main issue is the taxes yeah and that's why people are renouncing their citizenship, but I for one would still want my US citizenship because the US is still the world's superpower and a free citizenship at birth is still extremely useful (plus, I still see some hope for this country). Ngl, if I were a multi-millionaire I would have like 5 citizenships in total, and because I would be so rich I don't think I would mind paying the US taxes if I set up the income thing right because I would still have so much money.
Nomad Capitalist's videos are amazing, thank you so much for making them! :D I didn't even know there were many options out there for people like me who want to go back to where my ancestors were from because that land is now better in some ways. I hope to move to France or Germany one day and get citizenship there, but their dual citizenship laws are strict so i guess we'll see. .-.
Hubby and I are doing okay, we're 58, in Canada... Considering other places to retire to. Should we just go on 3-month long vacations around the world consecutively or move somewhere? We're doing alright money-wise. Where's the easiest to retire to? We are considering Scotland, the UK, northern European countries... but open to others. I am under the impression (still have research to do) that usually you just need to prove you have money in the bank and you are welcome to live in the country if you're not sucking from it (working in that country).
Hey, this article can be helpful as it provides choices for the best countries to retire in: nomadcapitalist.com/finance/offshore/the-worlds-best-countries-to-retire-in/
Considering the low birth rates of most (all?) European countries, I would think that Citizenship by Descent programs would become more liberal.
Two of my grandparents were the children of recent immigrants from Denmark and Switzerland, and one immigrated from Poland when it was Russian territory before WWI.
Just outside of the cutoffs.
So, is the upshot that a Caribbean passport the best? I'm looking at Mexico as a 2nd passport as a US citizen.
It always depends on what your goals are.
Proudly I have dual citizenship! One by birth another by descent
My friend encouraged me to get Turkish citizenship
What do you think
My grandmother is Bahamian. Is that a good one?
That's subjective, but most would say yes.
I need one for international work , I need one that have least restrictions
We'd be happy to be of service to you.
I'm a triple citizen (USA, Dominican Republic and Chile), which passport is best to use when I move to Dubai.
United States
I would think one should consider which countries one wants to have access to. If i am choosing a second passport I want one from a nation which has a government that is either aligned with my interests or I am at least neutral to. As I tend to like Authoritarian governments where corruption is rampant which would leave most of Europe out as well as Canada, Australia and New Zealand. I also tend to want to live in countries where there are no restrictions to whether I can participate in their government. Nations such as Russia, China, Belarus, Vietnam, and Turkey have no restrictions on who could run for head of state. If i want to become president of Russia I simply need to have resided in Russia for 10 years. If i want to become head of state of China or Vietnam I simply need to join the Communist Party. I also tend to want to become a citizen of countries where I speak the language to at least the level of a beginner. I did not leave the USA because of taxation. I left the USA because i hate Democracy as well as Labor Unions, Home Owner Associations, and Freedom of Religion. I like Russia and China because Proselytizing is banned there while the governments are more Atheist. There is no need to join a Union in China as the government already has laws protecting their workers which are 100x better than what Unions provide. Countries such as Brazil use police to clear out labor unions which is why i like Brazil. I like living in Cambodia because the cost of living is low, it has a decent climate, and I know the police are corrupt so if i were to get into trouble I can buy my way out. I am happy as long as I have an apartment big enough to cook my own meals and plug in my pc, and there is no US soldiers or the government is not a puppet of the USA.
No country is perfect. I could get an India citizenship, but won't. I am fine with being a US citizen with OCI. India doesn't allow dual citizenship.
Any ideas around Germany not allowing dual citizenship in most cases. I think I could get German by descent. But not interested in denouncing one country to get a different one. Am I missing something?
Beibehaltungsgenehmigung beantragen
While Germany does all they can to prevent multiple citizenships, you do not have to renounce other citizenships in some cases. Specifically, if you are claiming citizenship by descent with another citizenship at birth you do not have to renounce as the legal doctrine grants you German citizenship AFTER the other citizenship.
You only renounce if applying to citizenship by naturalization (residence)
Why don't you ever discuss Mauritius?
Sheee, you don't want to be flooded with idiots.
I Understand what I know Mauritius seems to be a good option. And it's a beautifully country. Seems to be off the Radar so to speak
I enjoy this channel but still can't imagine being someone who walks around constantly thinking about reducing my taxes. There has got to be more to life than that. Andrew is smart and if you are into minimizing your taxes, he has impressed me as someone who knows what he’s talking about.
He talks about quality of life all of the time though....
Are you an American who lives overseas? If you were, you'd understand why talking about taxes is so important.
@@LMC444111All I can tell you is that everything I've achieved has been made possible in the lower 48 states. None of the places on the Nomad Capitalist's list has done anything to help me get where I am; so, I don't feel any particular affinity to those overseas places, although a week or two on vacation in an "exotic destination" might be interesting -- but that would be it. I’ve travelled a fair amount and usually after a week or so, I’m bored and ready to head back home. There’s really no place like the USA!
@@jolly7728 home is where the heart is ...
wherever your people are, that's the BEST place... ...when all is said & done it's about loved ones 💯...
My kids have 4 citizenships
When you really do the homework usa is the best, but I would like a 2nd and maybe a 3rd. Mexico is growing on me
I’m Brazilian so I Have Brazilian passport. And now I am in the process for Spanish and Italian passport (Spanish because my Dad side and Italian because of my mom side) I do also have Portuguese descents but I don’t know yet if I can get Portuguese passport.
And Iam currently living in America. My husband is American-Russian. And I am thinking if is worthy also to try American passport.
Don’t get a U.S. passport, if you do, then you will owe annual US taxes for life, even if you move out of the country.
@@camiller4916 Only if she earns more than $120,000 in wages/salaries overseas and if she's married she'll most likely even get a refund.
Check out the Japanese passport
I'm an American who was born in Germany but they make you choose between Germany and the U.S. at 23. . . So lame.
Are you saying that you can’t be a dual citizen after 23 ? Or is it if you were only born in Germany but left soon after?
@Nancy Patancy If neither of your parents are german citizens you have to choose between the U.S. and Germany before the age of 23. Both of my parents were Americans in the military.
you cannot claim german citizenship just by birthplace like USA. if you seek naturalization then of course you have to renounce the other citizenship, unless it is from other EU-members or Switzerland
@@YasukeNakamoto Ok, thanks.
I believe that Germany is passing a law allowing dual citizenships. I know if I’m not mistaken that the people that came originally from turkey in the 1970s to work and now the second and third descendants can keep their Turkish passport plus a German one.
If you give up US citizenship then you give up SS paycheck / benefits right? What do you do in another country for healthcare?
No you don’t. You keep all SS benefits. For Medicare/Medicaid it’s still valid but as always it’s only available if you’re in the US. So you would have to travel to the US as a tourist to use it.
What I wonder, the people who give up United States citizenship are they had a ever allowed to come back to visit, I mean visit relatives for a short time that wouldn’t travel to see them in another country? And of course, that you don’t have any criminal history and you paid your taxes in United States until your gave up your citizenship what you have to do anyway
You have to apply for a tourist visa every single time (expensive and requires interviews and stuff). There's no right to be accepted though.
@@spicysalsaking791 I know people that live in European countries have to get a visa to visit the United States, I know they don’t call it a Visa that’s called Esta but it’s something extra to fill out
I'm Australian and been to the US a number of times. No problem and not expensive. I suppose it depends where you decide to get citizenship but I'm sure you can go back & visit just like any other tourist.
hi Andrew, I’m curious my fiancé is Bulgarian. She still has her Bulgarian citizenship. She lives in America with me. If we were to get married, would I become a Bulgarian citizen? If so, do we marry in Bulgaria or the United States?
Idk about Bulgaria specifically, but usually you can get married anywhere as long as you go to the local Bulgarian Embassy to document that the marriage occurred. My fiancee is Russian, and there's a 3 year waiting period after marriage before we can begin the process. Then, we'd have to physically live in Russian for ~6-18 months before I can even apply for citizenship. So every country is different.
Probably not but you can get residency
3 year residency in bulgaria
You have to get marry and apply .
Get married in Las Vegas,it’s easier.
For me St. lucia and Dominica.
And I am going to hire Nomad capitalist to do it
So the USA is a multicitizenship country? A lot of countries allow for only single citizenship.
@@svensulzmann4282 well! If the United States restricts its citizens from taking other citizenships, that sounds really restrictive.
@@enjoyslearningandtravel7957 If a country is an enemy of your country, that only makes sense. Andrew has stated many times before that he wouldn't take a citizenship that was an enemy of any country that he had citizenship with.
@@mtngrl5859 that makes good sense
@@enjoyslearningandtravel7957 Thanks for your comment, who wants to complicate their life after all?
So I gotta marry who? 😂
Mexico.
Actually Turkey is a questionable choice for Americans who have a different religion than Turkey. This can be a real issue.
Yea That’s probably true
Slowjamistan
For Turkey, I heard it is getting very difficult to wire out over $50k. Is there a way around it?
I want to movie out of the USA because I am Done with dealing with the abusive police.
I was born in Ukraine. But something tells me that's not a good idea lol.
What about the bathroom visa? What's that?? When you're in the bathroom, You're a peein. LOL Europeon. 🤣😂
Wouldn't your second second citizenship be your third citizenship though? 😉
please...!. does one FIRST-need a USA-passport BEFORE getting another Country's?!! 2. is any of this realistic for real people?* tanx!! *sounds meant for high-$$$ folks, which I'm not :-)))
Grenada has the benefit of visa free access to China!!
What’s up with his eyebrows lol
if you're Greek, go to Cyprus... not Italian goes to Cyprus.