Why I’m Getting Another Caribbean Citizenship

i am embarking on getting my second caribbean citizenship by investment passport and some of you might ask why are you doing that is that sufficient diversification what are the benefits of having a second caribbean passport and today i'm gonna answer all your questions [Music] hi i'm andrew henderson this is nomad capitalist where we help seven and eight figure entrepreneurs and investors legally go where you're treated best that includes having at least one second citizenship to make sure you have options no matter what happens with your finances with your freedom with your lifestyle you want to have options and a number of years ago i obtained citizenship by investment in st lucia one of the five caribbean countries that currently does that my reasons being where i was single um i was doing well but not as well as i am today um and st lucia had recently made some changes to their program where they had a pretty competitive donation program the most affordable or one of the most affordable for a single person i was legally seeing at the time and i thought it's a beautiful country the program you know they're not doing a huge volume uh compared to some of the other islands i thought okay this is a little bit more bespoke the price is is right and to the extent that st lucia certainly the passport has not added as many new travel countries as some of its uh its competitors in the region as you might call them at the time it was still not the strongest passport in the region but antigua and saint kitts had had by then lost visa-free access to canada so they were relatively similar but the the holes that st lucia had in terms of its visa free travel actually complemented passports that i already had and so if you were just to go and say okay which is the best passport to get on its own i might not have chosen st lucia but as i already had you know others i said okay well i already have this and this for travel and and so um that's different so what i'm doing now is i am embarking the process of obtaining citizenship in antigua and barbuda and it's a different program uh it's a different time it's a different circumstance in my life and this is not a recommendation to you to become a citizen of st lucia or of antigua some have watched me and i've heard people call me and they said hey andrew i got a st lucia citizenship and uh it's because of you and now i want you to help me with the rest and i said well you know maybe for you i would have suggested something else so don't copy what i'm doing but i i do do this to a certain extent i've talked in another episode about why i have so many passports and there's both strategic reasons and there's very deeply human reasons for that but on a business level you know for me this is interesting to do research and development it's a way to work direct with my team and to test their skills i have personally done very little work in terms of collecting documents because my team has a lot of my stuff but this is an r d project for me this is what i do this is my business this is my my jam uh and i enjoy it when people ask you know why do you have these passports why do you have all these passports uh i enjoy it uh sample collects stamps some people collect art uh i feel that it's nice to be covered by having multiple citizenships it opens up a lot of different opportunities and so if someone is thinking well you know why do you want a second caribbean passport uh you may have heard of caricom the caribbean community you have certain rights if you're a member of one of the caricom countries as all the five caribbean citizenship countries are a member of um but there are some restrictions on that what what's perhaps a better barometer is the organization of eastern caribbean states there are six the five there that are in in saint vincent where potentially they may be in the future um and so you essentially just move between these rather freely and so if you're st lucian uh you want to go and basically be in antigua you could do that st lucia is not a tax free country antigua does have no personal income tax sync it says no personal income tax or corporate income tax and so theoretically you could just go to that country and you could put in your amount of time and you could just say hey i'm a taxpayer in saint kitts using your your oec as passport however what we've seen in recent years is that freedom of movement can be curtailed uh you see certain countries in europe that have been closed and you're supposed to have this freedom of movement and and to a large extent that still exists but there have been restrictions placed on that certainly they could be ended and you know what i look at antigua ads is i say okay this is a strong passport um it is among the strongest in the caribbean i think saint kitts adds a couple extra countries but but antigua is pretty competitive and so antigua complements a lot of the visa-free travel that i already have it reinforces it and so it's adding on to where hey if some country i want to go to ever loses visa free travel i've got a redundancy we've seen the pandemic we talked at nomad capitalist live about how all five caribbean countries have visa-free travel to south africa or sorry south korea yet only one country at the time had visa-free access to south korea and so for people who were doing business in asia and developed asia that access to south korea was good it was good to have not only a passport that had the access but that was actually on the the nice list and so i think that as the world has been kind of been turned upside down having redundancies is uh that very important having multiple passports with visa free travel make sure that when you need to go somewhere um for me it's for business it's for research uh it could be for speaking it could be for working with someone directly you know i recently went down to uh to uruguay and uh uruguay was closed for a long time and having multiple passports would have come in handy and having it came in handy just in case uh you know so that's one thing antigua having no personal income tax and allowing for tax planning on other kinds of uh income tax i think it's a positive thing i think that as the world changes having a country that is not only tax-free but that has a certain level of commitment to being tax-free i guess a lot of tax-free countries they feel proud of that but i think that uh antigua you know seeing that they've gone just in recent years to not having a personal income tax that's a step in the right direction you know momentum to me is very important many western countries the momentum is you're a jerk for having so much money why don't you pay us even more you're 40 is not enough they're saying you know what we're cool uh stop paying that personal income tax we'll be fine so not only is the momentum going the right direction but i think having tax-free uh access is important i'm a resident in the uae um am i resident anywhere else tax free i i don't know um but i think that having you know more than a residence the citizenship is very powerful certainly laws can change but i think that when the momentum is going the right direction that's less likely to happen and so if you're a citizen you can go and live there and and so for any of the talk of uh well you know we're going to impose we're going to impose some kind of you know global minimum tax on people in the future i think that having a substantial connection to a country like antigua if they so choose to say hey if you actually live here we won't tax you that's not a bad thing to have and it's giving you a high level of security than let's say a cayman islands or a uae where you know residents i think you can you can trust them to keep that but it's a higher level it's a higher standard where you are a citizen so not only can you travel as a citizen in a country that has a good good passport that builds in redundancies but you can also be a citizen of a tax-free country i also think that there are opportunities i mean some of these smaller countries you can go and if you want to be involved in the government if you want to go and influence policy if you want to go and do something i think that you have an easier opportunity in some of these places to go and have a positive impact if you want to get involved in that kind of thing you have more of a direct line to people who can be influential i mean i you know i grew up in the united states you have no say what happens in the united states i remember i had a business acquaintance when i was in my early twenties who he got invited uh with the company he was working with the insurance company to go and uh and meet the congressman it's like oh you're gonna meet the congressman you know you go to a lot of smaller countries i mean you can really work directly on things and so if you want to if you want to uh you know make a difference i think that you know being a citizen could be a positive thing not not just about antique in particular but about any country that is more nimble uh having that citizenship could potentially be a way that you can you can make a difference what i'm also interested in is the opportunity for antigua which has um you know a great pricing structure for folks who are willing to make a donation who have a family now i remember a couple years ago when antigua rolled out this kind of four for the price of one structure hundred and thirty thousand dollars when you count the processing fee i i posted on social media half jokingly uh you know should i should i be upset that i'm not married and have kids because because i'd like to really take advantage of this this is like a this is a good deal um because you've got a country that by the way separately is i think a very livable country um you've got people who take their boats there you've got uh you know a bit more going on i think st louis is a beautiful country i think for living perhaps a country like antigua is where more people are but in terms of living i will be able to add on not only a spouse but any kind of dependent parents or parents in law so it's an opportunity for you know having a family to say hey you know what uh i'd like parents a lot to be able to come along and maybe uh my wife and i are gonna go to certain countries uh where they can't go um right now and so we'd like them to come along and hang out as we as we grow as a as a family and so getting them all on the same page is a good thing uh and so that's a good opportunity and you know here's my perspective having more options having the ability to travel on a different passport by the way you know there's nothing wrong with saying i wanna have a passport just keep it at the safe just keep it on the shelf uh i may not use it but if i'm gonna go to that country i might use it i'm gonna have the option to go to that country again higher than a tourist higher than a resident higher than anything else that's my country for life now the case of the caribbean you're not necessarily able to pass it on to your kids just by virtue of giving birth to them um but for your current family it's a great opportunity i also think that you know for all of what you're getting and for and for me just kind of building on my on my redundancies and doing this so i can share the process with you and stay connected with the process you know when you give money to these countries uh there may be petty squabbles in some of these countries as to you know how the money is spent between the different parties in power uh but i can tell you i think the money is used a lot more efficiently in terms of uh you know building low-income housing building roads you know improving the country for people who need it you know when you look at some of these countries in the caribbean they don't have the banks they used to have certainly these kind of programs i think if you want to get one of these programs now is the time to do it over time there may be some new barriers or restrictions or physical presence or some kind of things imposed by other powers to say hey if you want to get citizenship by investment five years ago it may be or five years from now maybe a little bit more difficult um but you know for me for all the the talk of you know why these programs you know shouldn't be allowed by some fringe people in politics and other places for the people who've seen people who shut down their banks uh some people who shut down some of the offshore centers in these in these locations you know what your money actually does something for the country it's not quite the same as a charity i think obviously charity perhaps is is more efficient than the government but you know for what you're getting um you know i think that you can feel good to a certain extent that it's not like giving a hundred and thirty thousand 000 to a country where that buys like uh the tip of a missile or something and you know it's gone in five seconds this money's actually being put to use and so that's a nice add-on but for me uh securing my ability to go to more countries even if they're part of you know freedom of movement schemes uh securing the ability to go somewhere that does believe that you should be able to keep your own money that does give you the chance to have a voice that does enhance your travel privileges and act as a redundancy and it allows you to bring your family for a very comparable price for me those are all good reasons why having for me a second caribbean citizenship is valuable i'm saying this is someone who already has other citizenships outside of the caribbean i did have a guy come to me once and someone had sold him getting multiple citizenships in the care of me just to see which one was faster okay uh i don't know if i just really agree with that that seems like a good sales job but uh uh you know kind of adding this on later in the game having other passports as part of the ongoing passport portfolio i think is valuable and i'd love to hear your comments below don't stop now we've got well over a thousand more videos here on youtube for you to watch and learn how to go where you're treated best and if you want to work with nomad capitalist personally go to nomad capitalist.com apply learn about our unique tried and true process garnered over years of experience and learn how you can become our client

Channel: Nomad Capitalist

Views: 74,770

Keywords: nomad capitalist, go where you're treated best, second citizenship, dual citizenship, second passport, best places to live, investing, travel around the world, taxes, where to live, how to invest, cbi, cbi program, caribbean citizenship by investment, citizenship by investment, investing for beginners, news, life abroad, caribbean, moving to caribbean, antigua and barbuda, antigua, barbuda, best vacation destination, antigua and barbuda citizenship, best islands to visit, tax

Id: Ko4Mye-ExcI

Length: 12min 47sec (767 seconds)

Published: Sat Dec 04 2021