Please Stop Making this Citizenship Mistake!

with interest rates at rock bottom levels rising distrust in banks and increased investment into cryptocurrencies i am seeing people face one consistent challenge when it comes to their residence and citizenship applications now i want you to start off on the right foot so today i'm going to share with you what that challenge is and how you can avoid it [Music] hi i'm andrew henderson i'm the founder of nomed campus where our team of almost 50 people worldwide our network of experts all over the world and yours truly helps seven and eight figure entrepreneurs and investors legally go where you're treated best you can learn more at nomedcapitalist.com so i'm a little on edge i gotta be honest i'm a little on edge because i keep seeing the same issue more consistently than ever when it comes to helping people get residents helping them get citizenship and i'll tell you very simply here's what it is people do not have enough money in the bank to demonstrate their eligibility for many of the residents and citizenship programs that they have now it can often be rectified sometimes it involves just waiting a couple of months sometimes means we need to move some money in advance while we're gathering paperwork to eventually file for a residence or citizenship program but let me tell you this and i've mentioned this before when you are going out into the world and you're applying for a residence or citizenship program you have to kind of think like a bureaucrat right you have to imagine what are they looking for their job is to basically you know dot the eyes cross the t's make sure that you are qualified and so you are often going to need to prove that you have wealth and or that you have income so for example uh malaysia's now suspended mm-2h the my second home program the criteria was you had to have uh 500 000 malaysian ringgit let's call it about 125 000 a little less right now in the bank for believe it was three months and you also had to prove income of 10 000 ringgit per month through some you know payslips for example so let's call that 2500 a month you have to do both okay now it was a little bit easier if you were over 50 and who knows what the new criteria will be when they come back with the program but that's what it was generally speaking asian programs favor wealth latin american programs favor income you can sometimes do a combination of both you can sometimes do one or the other but it's a it's a gross generalization that's what those two regions favor europe is kind of a is a mixed bag there's so many different programs in europe okay obviously in the caribbean if you're looking at citizenship by investment they're looking for a donation and so in any of these programs they want to know that you have enough money to come to their country number one that if you're making a donation for example to a citizenship by investment program you have the money or that if you're getting a residence in latin america you have the income if you're moving to an asian country or getting residents there at least you have the wealth okay and so you want to be able to document that now what am i seeing if you're you know a lot of people in crypto i started asking about four years ago i started asking people what are your bank balances for the last 12 months okay and you know i don't mean like what was the highest balance because you sold your house and then you immediately moved the money yet i mean like what were your ending bank statement balances for each of the 12 months because some programs want to go and do a 12 month look back some want to do a six month look back someone do a three month look back right but what they don't want to generally see is you just threw some cash in yesterday and now you're coming because then they start to think well is he doing something that violates the terms of the program or did someone just loan him money in the family the minute he comes he's going to pay them back you know they want to make sure that you actually have the money and so uh you know but people increasingly tell me you know why i started asking the question actually four years ago i started asking people that i'm working with how much money do you have in the bank how much money have you had in the bank is because especially crypto investors you know they're moving everything in there i've had numerous people who have sold their homes taken the equity in their homes and they oh maybe you have that money in the bank now we put it in crypto and so i literally remember four years ago had a guy who must have had i don't remember the number this point it was like 50 million or 80 million or something like that back when bitcoin was under four grand and i said okay this guy must have you know 30 grand or 40 grand at the bank to qualify now you know like as i said before 17 or something like that and so i keep seeing more and more of this you have to think like a bureaucrat guys i understand people don't like bureaucrats i get it why should i have to prove myself these people they want me to come because that's how it works you know i think to be a successful nomadic capitalist you have to just take one little step over you know some of the libertarian frustrations into all right here's how the program works here's what you got to prove you got to have your paperwork in order you got to show them what they want so they can just cross the box and go back to their you know their rigorous 11-hour workweek making sure they don't get in trouble so what i would suggest is if you don't have much money in the bank right now i would start seasoning some money now again some residence programs especially some of the cheaper ones uh they may be income based and so what saves people some of the time is they have a job or they have a job where they're basically employed by their own company right they own the company but they're taking a salary or they're taking a dividend that kind of thing so either one of those can work i think seasoning some money especially if you're going for some of the higher level programs wouldn't be a bad idea the amounts are all over the map call it 100 grand call it 150 grand or 200 grand if you're looking for a cheaper program maybe it's 30 or 40 grand but start to seize in some money obviously i can't tell you because there's so many different programs so many different permutations are you married are you retired are you what age are you what else are you doing i mean there must be tens of thousands of different you know permutations so we can't cover all those but in in a general sense a lot of the programs that we work with on the lower end they want to see you know 25 to 50 000 in the bank for some period of time on the higher end they want to see hey if you're gonna make a hundred thousand dollar investment or a 200 000 investment we want to see that money there for six months again so that we just we know you just didn't borrow it yesterday and and you're just going to come here and be an economic charge uh and so you know season that start putting that together if you come to me and let's say we're we're gonna do one of the high level programs we might have a couple months of document collecting and getting all the checks and the medical checks and all that together before we need to file so you know maybe we've got some time to work with there but especially if you're in crypto understand right here's the other big thing people want bureaucrats want to see your personal bank account i'll people come to me and say i have a cook ivan's trust on some marshall islands holding company that has a uae operations company and we own properties in panama let me tell you something no guy at the armenian embassy wants to look through that so you can get your cheap residence permit okay they're just gonna be like dude show us a bank account that you have money in your name and so it depends on the program some of the more sophisticated programs especially when you're giving them money like a donation or a big investment they will understand okay this is a trust and the guys names on it some programs won't some programs want to say andrew henderson that's it we don't don't put a name don't put trustee next to it don't don't put like a don't put some countries don't put your spouse's name next to it should only be yours i mean every country has their own requirements so obviously that's where you need some some help from someone on whatever program you're going to do but you know bureaucrat does not want to go through your corporate i talked to all the people oh well for tax reasons we keep the money in the company i get that right obviously that's the benefit of what you're you're trying to achieve the benefit of coming off shore to my world where you don't have to worry about moving money into the company and the personal because you've taken trouble your tax situation but you might need to take a little bit of a tax hit or do something you know i don't want to say creative but do something within the legal bounds to move some money into your own name if the program that you're looking for many of them will not recognize money that you have sitting in your company sitting in your trust they don't want to go through your whole you know corporate structure and figure out this is actually your money and so that's one thing if you are taking income if you have a salary or you're on a regular you know salary from your own company or from a job that could work again not every program cares about your salary but they might ask you to prove it or in some cases like malaysia some of the latin programs you know can you show 800 bucks a month 200 bucks a month 2000 bucks a month most of these programs doesn't have to be huge right um but do you have that income what some people do is they say oh i just take irregular distributions irregular draws dividends what have you on random dates that may work but again if so if a country is looking for what's your income for the last three months or the last six months to prove eligibility you know irregular distributions might work they might be in some countries flexible with ones in the first ones in the 17th one's on the 12th but if you missed a month that might be a deal killer and you might have to go back and spend some time so having a regular income i think for other reasons too is sometimes a benefit when you're going up short initially and also just staying offshore you know having some kind of regular income how much do you make every month i take five grand at a month okay that's probably going to work in most programs most countries are going to hey 60 grand a year nothing wrong with that right so you'll want to start seasoning some wealth you want to start seasoning some income potentially and again i'm not trying to give you specific advice on people going out and doing something obviously you want to get some advice in your own situation but these are the things that you want to start to consider because again no guy at an embassy is going to want to look at a cryptocurrency statement their country may not accept crypto it's probably not going to be illegal you probably don't want to go to a country where crypto's illegal if you're heavily in crypto but you know they may be very neutral to it and probably speaking i mean even if you can document a statement from that they're going to be like what's this we don't want to you know oh you've seven bitcoin we don't know which box to check we don't have an exchange rate on our sheet now the good news with bureaucracy in a lot of these countries is if you could easily just check the box and they'll just go away and go to lunch but if bitcoin's not on their list they're not going away they're not going to lunch and you're not getting your residence permit they're not getting your citizenship so keep this in mind as you start to get out into the residence and citizenship world there are some guidelines that you'll want to be aware of how can nomad accomplice help you four ways number one subscribe to our channel and click the notification bell to make sure you get our new video every day number two get a copy of nomad capitalist the book you'll learn a lot of my personal experiences over a dozen years of studying this stuff as well as exactly some of the strategies that you can use to build your nomad capitalist plan number three if you're not sure where to start but you want to come and learn from my team and i you want to come and mingle with like-minded people learn more about our live conference nomad capitalist live it's coming up soon and number four if you want some help right now because you've got a burning issue you need something solved you want to lower your taxes get a second passport or build the nomad capitalist lifestyle of your dreams go to nomadcapless.com and click on become a client

Channel: Nomad Capitalist

Views: 20,062

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Keywords: nomad capitalist, go where you're treated best, second passport, second citizenship, dual citizenship, move to malaysia, malaysia, kuala lumpur, cryptocurrency, crypto, offshore, investment, where to invest, citizenship by investment, cbi program, buy passport, passport, where to live, where to move, moving overseas, living abroad, advice, offshore banking, bank account, armenia, living in armenia, armenian citizenship, avoid mistakes, avoid taxes legally, taxes, wealth creation

Id: CZpWXtgc8QU

Length: 10min 51sec (651 seconds)

Published: Sat Jun 12 2021