The Truth about Caribbean Citizenship by Investment

some people would tell you that the Caribbean passport in this passport holder is fake it's a toy it's something that you shouldn't consider I'm gonna tell you why many Nomad capitalists should at least consider Caribbean passport is part of their diversification plan in this video [Music] hi I'm Andrew Henderson and this is my Saint Lucia passport it's part of the Caribbean community and inside there's a little map you can't see it but there's a little map that shows where st. Lucia is in the middle of the ocean one of the island chains and this is a passport that you can use to go visa-free to 130 countries around the world to Europe Schengen area to the UK to Ireland to Hong Kong Singapore all of Central America most of South America this is a passport that as a travel document is pretty good but yet some people I talk to when we're discussing getting a second passport and in citizenship by investment is one of the options people get a little concerned there is an idea that this tiny little island I mean Oh tiny little island among all these islands you know even though it's a sovereign country it's like oil is it really a sovereign country it seems kind of like a toy people come from the United States that's most the people who I'm working with who are interested in a second passport option and who need to invest to the level that you would to become a citizen by investment and when you come from the United States it's easy to be like hey we're from this huge country there's lots going on everyone knows about us everyone respects us you know they don't like us they respect the country and so I'm going to go from being a citizen of the u.s. to being a citizen of this tiny little country I think it scares some people it makes some people think twice about some concerns I'm going to share those concerns with you today there's also a concern that you know a u.s. citizen it's strong you know it's it's your birthplace or if you were naturalized there it's like it's a tough process and people almost look at it like a long-term relationship whereas they look at this as a fling but I think that is looking at it in the wrong way because this is a real country with a real passport that can serve you just as well as any other citizenship could so people do have concerns about the country because they say oh this country is so small the reality is country as a country and and you have to understand that you don't to live in this country okay having a st. Lucian passport doesn't mean you have to live there in fact you don't have to go there I think it's great to go there and great to know what's going on but people say well I'm a US citizen I've lived there my entire life so if I get a new citizenship I should want to live there but when we talk about going where you're treated best when we talk about planting your flags around the world it's really a great idea to have at least one passport in a place where you're not going to go and live where you can take this passport you can go and get a residence permit in Europe or any other country you want and if you want to do the belt-and-suspenders approach and say hey I'm gonna my passport here I'll have another residency over here that gets me another passport in three years or five years I'll have a residence permit for somewhere I want to live over here that'll all work together very cleanly and really very few people care about the country itself people aren't out there judging you the way that you might think one of the other concern people thinks that they're gonna be judged when they go to travel that they're gonna go to a border and again they've been used to presenting a US passport and that hey you know if you've a US passport everyone loves you everyone respects you okay even if you you know are chinese you've a Chinese passport okay well he looks Chinese he's training okay that makes sense people say well what's gonna happen when I use this passport I can tell you is in most of the countries they don't care when you're US they don't care when you're Saint Lucian okay most countries just you know welcome sometimes you'll go to a country where they don't get many people from your country this could happen with any passport by the way I have a friend from Montenegro who has this all the time and that's not an investment passport or hasn't been but sometimes they won't know and so I remember going to Malaysia one time and they had to like open their list and they were they were scanning for the list uh-huh okay great stamp have a nice day the idea that you're gonna be treated better as a US citizen or as an Australian or Canadian or whatever I think is really something that we have in our mind what's this this idea that there's something better about the US as much as we want to get away from the problems the high taxes all that that there's something better about that passport there are countries that will bother you no matter what passport you have I've done a couple different countries even with a u.s. passport where they take half an hour asking me questions what are you doing here who are you meeting you know Oh birthday party interesting tell me more I've actually been treated better in those countries with this passport so the idea is about the travel I think are things that we simply make up or that are simply urban legends other things people tell me is they're concerned about the future what's gonna happen to this passport in the future and what I think and how I see visa policy going forward is that you're seeing a lot more countries opening up you've even seen China one of the most notoriously closed countries opening up and giving several of the Caribbean citizenship programs visa-free access at least one so far and possibly more to come you see Russia opening up to some of the other Caribbean countries you see Europe which has recently opened up to these countries Central America I mean a lot of countries either one just don't care and they say hey you know if you're coming from far enough away we figure you'll be fine you'll leave other countries have been opening up and they're saying okay well you know people who are have the money to invest in a passport let's let them come in there aren't that many of them anyway there are a few countries where you know for example you're never going to have visa-free access to the United States with these passports Canada pulled back it's visa-free for the last of the Caribbean countries recently you know Australia New Zealand those are probably four countries that are you're never gonna have this benefit with but for the rest of the world I see it being much more open in the realities there's always chatter out there there was chatter year two ago about the fact that the u.s. doesn't allow several European countries to come without a visa and that the EU was going to shut down visa-free travel for Americans of course that never happened but this idea that there's always some problem lurking I found that the world is becoming more open so no one knows what's gonna happen in the United States no one knows what's gonna happen in st. Lucia to me it's a push the future in my opinion is going to be higher taxes more regulations more rules more restrictions on Western citizens and having a passport from a country where they don't want to bother you is actually a lot more future-proof for your situation than sticking with what you have other people to that point they read stuff online they say oh there's negativity Oh someone said it's a bad investment you know some of the people in this expat community will say no just go to you know Paraguay and put some money in the bank and come back in three years and we have another video and that you should watch our channel and and what we talked about how that's becoming more and more difficult in many cases it's not guaranteed and so as I like to say the Bentley dealership doesn't really care what kia buyers have to say they just don't care and so if you're taking advice from people on some internet forum who maybe aren't paying the level of tax you're paying they don't have the level of pain that you're in don't have the need for diversification or the awareness of their need for diversification that's fine and they can certainly do what they want to do but if you view this as a way to increase your freedom increase your travel options you know be part of the tax planning strategy whatever it may be the people who can't afford it the people who can't make the donation who can't buy their real estate the people who choose the cheap way yeah you know what they're always gonna complain they're always going to tell you $100,000 you're an idiot I'm doing it over here but ask them what are their results okay if you have a need for this what is the value of getting the result what is the value of having the passport which is what is the cost if there's an ROI then it makes sense and so that's really the last thing that people do bring up is there's a concern about the cost and really it's not a concern about the cost it's a concern about feeling dumb I will talk to people who are successful they say you know what for example I don't want to be a US citizen anymore and I'll say okay well if you're looking to do that to do that quickly we can do something like this it might take about six months or we can look at a fast-track naturalization program maybe it's 12 or 18 or 24 months and you can get a real passport from a country that's not an island and you can get similar visa-free travel it'll take a little bit longer but a lot of people will favor those options where hey I'm gonna put you know $300,000 in real estate and I'm gonna get that passport a little more slowly because I feel smarter putting the money in real estate and for some people that makes perfect sense that's why we have a diagnostic process for everyone here at nomad capitalists the other thing you have to consider is you know sometimes it's just easier to say you know what I'm gonna write a check it's gonna be painful for a little while but I know I'm gonna get a return on investment I'm gonna pay a hundred thousand and then you know I'm gonna I'm gonna make five hundred thousand back for a million back or Millions back over the course of my life I don't deal with the properties I don't do what the rent to get out or managing it or doing this or doing that I'm often deal with the slower timelines I get in I do some paperwork I paid the money and I'm done especially for a cryptocurrency investor this makes sense where every extra dollar you can invest like a hundred thousand dollars here versus three hundred thousand dollars here even if you can get that three hundred thousand back and let's say three years it may be cheaper just to not have to deal with that opportunity cost for other folks there's a hassle of doing this way of having to go and figure out which properties you want to buy and getting tenants and you know showing up at different meetings that can be a hassle so there definitely is a place for other passport options that aren't Caribbean citizenship by investment but I do think that people have a bias against this sometimes because they say oh just paying the money is dumb I think that for the right person for the six the seven figure the 8 figure entrepreneur business owner investor cryptocurrency maven this can make a lot of sense because you're just in you're out you're done you get the benefit right away you're not thinking about it you're not stressing over it you're not wondering what could happen will the law change what will happen and so when people come to me they say I want a second Passport I'm not going to tell you you have to do this that would be the wrong approach and if you really don't feel comfortable then we'll do something else but I think it's important to understand what really are the issues addressing those concerns and realizing are these real concerns or is this just a product of the conditioning that I've had living in the US for my entire life are these real or are they a figment of my imagination do I is it really dumb to pay the donation be done with it move on or is it just I feel badly telling my friends that I spent so much to get a passport and they don't understand everyone has a different story and for some people this makes a lot of sense one study from my friend and I my daily said there's probably 40,000 people who've done various citizenship by investment programs since they started three decades ago you know that's good company there are a lot of people who are doing this I think you'll see more people doing this and I think that there's a lot of safety in it ultimately you have to find the second Passport option or even better options with a portfolio that worked for you I'm Andrew Henderson and if you're looking for a way to legally reduce your taxes build your freedom and create wealth faster as a global citizen then you've come to the right place I want you to do 3 things right now number one click the buttons to subscribe to our channel make sure to 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Channel: Nomad Capitalist

Views: 58,536

Keywords: second passport, Saint Lucia, citizenship by investment, second citizenship, economic citizenship, St. Lucia citizenship, Caribbean citizenship, economic citizen, citizenship renunciation, caribbean citizenship by investment, dominica citizenship, dominica citizenship by investment, dominica citizenship investment, dominica citizenship cost, st kitts citizenship by investment, st kitts citizenship, st kitts and nevis citizenship, nomad capitalist

Id: RoPuUTFVwg0

Length: 12min 53sec (773 seconds)

Published: Tue Oct 30 2018