Citizenship

Articles (06)

European Citizenship by Investment: Why Invest in Portugal?
CitizenshipEuropean Citizenship by Investment: Why Invest in Portugal? The European citizenship by investment landscape is full of options from Portugal and Malta to Greece and Italy. Millions of investors recognize the value of EU citizenship as crucial in a diversified investment portfolio. Citizenship in the European Union can unlock visa-free travel to 180 countries and territories around the world and provide significant benefits to the modern, high-net-worth investor and entrepreneur. But among EU countries offering residency and citizenship by investment opportunities, Portugal stands apart (Read also: Why Portugal is the Obvious Choice Among European Golden Visa) Through investment programs like Bitizenship's Golden Visa-eligible Web3 companies fund, investors can obtain residency in Portugal and obtain EU citizenship in just five years. Below, we will articulate 3 reasons why wealthy individuals are flocking to Portugal and choosing to invest in the residency by investment scheme over its alternatives (You might also be interested in: Portugal, your window to Europe) 3. European Union Citizenship and Access through a Single Investment The European Union offers one of the world's most attractive citizenship benefits packages. While most EU passports offer visa-free access to over 180 countries, obtaining citizenship in any European Union country will also provide full residency, labor, and education rights across all 27 member states. As an EU member state, Portugal and its Golden Visa program offer similar benefits. Through Bitizenship's regulated fund structure, investors can secure these privileges for themselves and their family members with a single €500,000 investment and flexible physical presence requirements. Rights and Privileges of EU Citizenship After five years of maintaining Golden Visa status and obtaining citizenship in Portugal (an EU country), international investors unlock an EU citizen's privileges. From Mediterranean coastal cities to Nordic technology hubs, EU citizens have unrestricted residency rights throughout the European Union. Additionally, EU citizens can study at higher educational institutions, access healthcare, and travel visa-free throughout other EU countries. The program's benefits extend far beyond basic travel rights. Golden Visa holders who convert their residency to EU citizenship gain full access to the EU labor market, enabling them to pursue business opportunities, investment options, and employment across all member states. This flexibility is particularly valuable for entrepreneurs and professionals seeking to expand their business or investment portfolio in Europe (Read also: This is the Ultimate Passport You Didn't Know You Needed). Healthcare integration represents another crucial advantage. Even as residence permit holders, Golden Visa investors can access some of Europe's world-renowned medical systems and top-tier care in Portugal. Unlike traditional residency or citizenship by investment programs that limit mobility, lifestyle, and investment options to a single country, Portugal's residency program opens doors to each of the 27 EU countries. What Makes Portugal's Golden Visa Attractive? Perhaps most important to global investors and entrepreneurs, Portugal's residency program requires minimal physical presence – just seven days in the first year and fourteen days in the subsequent two-year periods before citizenship eligibility. This flexibility allows investors to maintain their current lifestyle and still qualify for EU citizenship without relocating their family. In summary, these are just some of the privileges EU citizenship provides: Complete freedom of movement and residency across 27 EU member states Full EU labor market participation rights in Investment and banking privileges Integrated healthcare systems World-class educational institutions Unrestricted Schengen Area travel Through Bitizenship's Web3 companies fund, investors can secure these EU benefits while maintaining exposure to innovative, high-growth technology companies. Portugal's residency program and Golden Visa combines traditional residency and citizenship benefits with forward-thinking investment strategy. That's why Portugal rivals citizenship by investment programs as a critical investment tool for high-net-worth individuals. Comparing Other EU Citizenship and Residence by Investment Programs When comparing other European Union citizenship by investment programs and residence permits, Portugal's Golden Visa program stands apart because of its flexibility. Malta's citizenship program requires a minimum investment of €690,000 plus mandatory property purchase (or five-year lease). Despite Malta's citizenship program being the quickest to dual citizenship, its investment thresholds hold back many potential investors. If investors of Spain's now-defunct Golden Visa program desired Spanish citizenship, they would have had tax obligations as 183 days of annual presence were required to qualify in ten years. Greece demands €250,000 in real estate. However, investors must live in Greece for at least six months, speak with language proficiency, and create strong societal ties to qualify for Greek citizenship. Portugal, on the other hand, offers the fastest path of residency programs to obtain EU citizenship, a clear €500,000 investment threshold, minimal presence requirements, and few other criteria for EU citizenship qualification. Maltese Passport and Direct Citizenship by Investment: Minimum investment: €600,000-€750,000 government donation (to be used for Malta's economic development) and real estate investment worth €700,000 or annual lease of €16,000 (held for five years) Processing time: 12-36 months depending on investment route Additional costs: Charity donation of €10,000 and dependent costs Malta Golden Visa and Residence Permit: Investment requirements: €80,000 donation and €300,000 real estate purchase or annual lease of €14,000 (held for five years) Path to citizenship: Rare naturalization Processing time: 6-8 months Additional costs: Charity donation of €2,000 and dependent costs Greece Golden Visa and Residence Permit: Real estate investment: €250,000 in a commercial-to-residential conversion or a refurbished property or €400,000 in 120 m2 property investment in lesser-populated areas (€800,000 in purchased real estate in Attica, Thessaloniki, Mykonos, Santorini, and islands with a population of 3,100+) Path to citizenship: Rare naturalization (language proficiency and substantial presence required for 7+ years) Processing time: 6-12 months Additional costs: Dependent costs Italian Golden Visa and Residence Permit: Minimum investment: €2 million in Italian government bonds, €500,000 in Italian shares (or €250,000 in innovative start-ups, or €1 million in Italian projects of social benefit Path to citizenship: 180+ days of physical presence required for 10 years Processing time: 6-8 months Portugal's Residence Permit and Golden Visa: Investment required: €500,000 in Portuguese private equity and venture capital investment funds (e.g. Bitizenship's Web3 companies fund); €500,000 in scientific project donations; €500,000 in a local Portuguese company and job creation; or €250,000 in non-refundable financial contribution to cultural heritage preservation Passport strength: Visa-free travel to 177 countries Path to citizenship: 7+ days of physical presence required per year for 5 years Processing time: 12 months As obtaining EU citizenship and a European passport becomes more difficult, Portugal's residency program stands out from other EU countries for its flexibility, minimal requirements, and fast-track to dual citizenship (Read also: Dual Citizens Like Elon Musk and Peter Thiel Rule World: Why and How to get Dual Citizenship). Bitizenship's Unique Value Proposition Unlike alternative citizenship by investment programs (e.g. Malta citizenship) that require direct property investment or government bonds, Portugal's approach aligns long-term mobility benefits with forward-thinking investment strategy. Providing exposure to the Bitcoin ecosystem, Bitizenship's Web3 companies fund satisfies Portugal's capital transfer via fund investment requirements. Managed by Green One Capital with professional oversight of investments, the fund complies with all Golden Visa criteria. The regulated fund offers professional fund management, clear exit strategy after the five-year holding period, and institutional-grade custody solutions. For global investors seeking EU citizenship by investment, Portugal's residency program and Golden Visa combines the lowest presence requirements with innovative investment opportunities. These features of Bitizenship's fund position it as the optimal route to citizenship by investment in an EU country. 2. Geographical and Geopolitical Advantages of Portuguese Residency Portugal's position as a stable EU member state far from conflict zones makes it ideal for high-net-worth individuals concerned about their and their family's future. As the 4th most peaceful EU country and the world's 7th most peaceful country overall according to the 2024 Global Peace Index, Portugal maintains neutrality and a safe environment for families who've chosen it as their home. Distance, Neutrality, and Balance Unlike many EU countries that face direct geopolitical pressures, Portugal's location on Europe's western edge provides insulation from ongoing and future conflicts. As a member of both NATO and the European Union, investors in a golden passport have the security of Western alliances without the heightened risk profile of Eastern European or Balkan nations. Portugal's diplomatic strategy mirrors its geography: Balance. The EU country has created relationships with emerging powers and numerous countries worldwide. Particularly evident in Portugal's constructive engagement with BRICS nations and its membership in NATO, this dynamic creates a stable, balanced environment for international investors seeking European citizenship. The world is increasingly multipolar. For citizenship by investment seekers, investment programs in balanced, pragmatic countries are attractive. And despite their membership in several global organizations, Portugal maintains a relatively neutral attitude toward global geopolitical affairs and conflicts. Political and Financial Stability The country's economy is strong. While many countries offer residency or citizenship by investment programs to offset government hurdles, Portugal's economic stability within the European Union creates a secure foundation for residency by investment. Inflation rates are below European Union benchmarks. And being the only country that has a GDP growth rate above 1.9% (outpacing most EU countries), the country offers a reliable economy for long-term investment planning. Foreign investors benefit from protection. The Golden Visa program operates within established Portuguese and EU law, ensuring investment security through: EU-level oversight of financial institutions Transparent investment regulations Banking sector stability Through Bitizenship's regulated fund structure, investors receive additional protection like professional management of funds, institutional-grade custody, and regular reporting requirements. This security framework positions Portugal's ten-year old residency program as one of the most stable routes and citizenship investment options globally. For investors seeking European citizenship through economic contribution programs, Portugal's combination of political stability, legal protection, and economic growth provides an unmatched foundation for long-term wealth preservation and global mobility. For high-net-worth individuals who desire more visa-free travel, a second citizenship, and residency rights that only EU citizens can obtain, European citizenship is the ideal investment option. And among European citizenship by investment routes, Portugal's citizenship program is the most flexible and stable. 1. Ultimate Plan B Security for Generational Wealth As high-net-worth individuals have known for a century, a well-diversified portfolio is key to wealth preservation. In the same sense, contemporary investors and entrepreneurs have found that a second citizenship provides opportunities that they would not have otherwise: More residency options More tax optimization options More mobility and travel access More investment and banking privileges More education opportunities for their children A Portuguese passport has emerged as one of the world's most powerful travel documents, offering visa-free access to over 180 countries and territories, and Plan Bs for these investors. As such, this makes EU citizenship in Portugal an essential component of any second citizenship strategy. The Strong Portuguese Passport Beyond visa-free travel access, an EU passport holder has critical advantages. As a member state of the EU, citizenship in Portugal offers diplomatic protection across the globe, ensuring assistance through Portugal's and the European Union's extensive consular network. Although an investor does not hope this protection becomes necessary, it is increasingly valuable as tensions rise and geopolitical alliances shift. An EU passport holder also has benefits in the European Union, of course. To start, the banking and investment opportunities are significant in a world of increasing financial and regulatory restrictions. For those investing from outside the EU, Portuguese citizenship opens doors to EU financial institutions, banking services, and investment projects across the region. For those seeking ultimate Plan B security, Portuguese EU citizenship represents a strategic asset that provides generational protection for your family's wealth, mobility, and personal freedom. Family Member Inclusion Portugal's Golden Visa stands out for its family inclusion benefits. Portugal's program allows investors to include in their application family members like dependent children, spouses, and dependent parents for low additional fees. Portuguese Permanent Residency and Citizenship By citizenship by investment industry standards, the path to permanent residency and citizenship is remarkably straightforward. To qualify for either route, Golden Visa holders need only spend seven days in Portugal during the first year and fourteen days in each subsequent two-year period and maintain their original investment. After five years, investors can apply for permanent residency or proceed directly to EU citizenship after passing a basic Portuguese language test. This flexible presence requirement distinguishes Portugal's program from other EU citizenship options. While Malta's economic citizenship program does not demand any physical presence after obtaining the EU citizenship, Greece requires at least six months of annual residence for seven or more years to qualify for Greek citizenship. Therefore, Portugal allows investors to obtain European citizenship with minimal disruption to their current lifestyle and business commitments. Permanent residency vs. citizenship Permanent residency allows an individual and their family to live, work, and study in Portugal just as EU citizenship does. They also can access public services and social security as Portuguese citizens can. However, they do not have other privileges reserved for Portuguese citizenship, including the right to vote in Portugal and EU-wide residency, education, healthcare, and labor rights. Through Bitizenship's Web3 companies fund, investors can secure these lifelong benefits while maintaining exposure to Bitcoin-focused innovation (You might also be interested in: Why Every Bitcoiner Should Invest in Alternative Citizenship). Our regulated fund structure satisfies all Golden Visa requirements while positioning families for long-term participation in the digital economy. For investors and families seeking a second citizenship, Portuguese citizenship through investment offers unmatched benefits, which few countries can tout. From the program's flexibility to its path to obtaining citizenship, EU citizenship and an effective Plan B creates the opportunity for a lasting legacy. Portugal: The Ultimate Diversification Investment Program Portugal's residency and Golden Visa program and second citizenship offers benefits that make it an important element of any investment portfolio. The program's clear path to EU citizenship, combined with flexible and minimal presence requirements, creates a powerful asset for generations to come. To learn more about securing your family's future through Portuguese residency permit then citizenship, visit Bitizenship.com to explore our Web3 companies fund structure and Golden Visa qualification process.

12 MIN READ

20 Feb 2025

This is the Ultimate Passport Portfolio You Didn’t Know You Needed
CitizenshipThis is the Ultimate Passport Portfolio You Didn’t Know You Needed Having one passport isn't enough anymore. With a single citizenship, you're tied to the whim of a single government. Billionaire and former Google CEO Eric Schmidt gets it. He's been vocal about the importance of having multiple citizenships in today's world, so he got Cypriot citizenship by investment before the program ended a few years ago. But here's what most people miss: It's not just about having a second passport. It's about building the right passport portfolio that achieves your goals and covers all your bases. If you're a high net worth individual, you need a strategic approach to global mobility. We've helped countless wealthy individuals secure citizenship across different countries, and I'm going to show you exactly what the ultimate passport portfolio looks like in 2025. But First, Why Is a Passport Portfolio Important? The world isn't getting any more stable: Government crackdowns on cryptocurrency and free speech are increasing. Political uncertainty and division is ripping apart our social fabric. Information sharing between countries is at an all-time high. Wealth and exit tax targeting wealthy individuals are normalized. Here's what's really happening: Governments are tightening their grip. And the days of easy global mobility are ending. But a well-structured passport portfolio might just be the solution. But what is a passport portfolio? Well, picture it like this: The reason so many business leaders care about the political, financial, and economic climate in their country is because their whole life is tied to that country. They work there. They earn there. They are educated there. They bank there. They invest there. Their whole past, present, and future are tied to the success of that nation on the global stage. But if a wealthy individual obtains a second passport, their options suddenly explode: They can live, study, work, bank, invest, and access healthcare in two nations and any regional unions (example: the European Union) those two countries are members of. Millionaire migration is at an all-time high. It's no wonder why when the benefits are so great: Dual citizenship opens the door to investment opportunities in developed and emerging markets while giving you the freedom to work, live, bank, and study anywhere. And wealthy people don't just seek out a second passport. They want to build comprehensive citizenship strategies. And they're right to do so. So, a well-structured passport portfolio should, in theory, give you unfettered access to: Global entrepreneurial opportunities Tax optimization options Safe havens for your family Visa-free access to all the countries you wish Investment opportunities in emerging markets The ability to work and live in new countries Protection against political uncertainty Educational opportunities for your children Healthcare access across many countries Now, let's break it down. What are the components of a powerful passport portfolio? The Four Pillars of the Perfect Passport Portfolio 1. EU Base A passport portfolio should be designed to maximize your options to travel visa-free, live, work, study, bank, invest, and get quality healthcare. Citizenship in the EU does not just give you that access in the country of your citizenship. You get those rights in all members of the EU. So, in summary, citizenship in an EU country means near-full citizenship rights in 27 countries. That optionality is powerful and why we include EU citizenship as a main pillar in the perfect passport portfolio. But of 27 EU member states, which citizenship should you get and how can you get it? Portugal offers a route no other country can match. Through the Portuguese golden visa and Bitizenship, you can invest in companies in the Web3 space while obtaining residency in the Iberian country. Then, after just five years of maintaining your investment and visa (i.e. visiting the country for seven days a year), you qualify for citizenship and the Portugal passport with visa-free access to more than 180 countries around the world. Here's how to do it: Invest €500,000 in the Bitizenship fund (or lesser amounts if you prefer a donation route) Include your entire family in the residency application Meet minimal physical presence requirements (just seven days per year) Apply to citizenship in five years Key Factors That Separate the Portugal Golden Visa from Alternatives What sets Portugal apart is its remarkable stability within the European Union. As one of Europe's safest countries, it offers world-class healthcare, strong visa-free travel, one of the world's highest qualities of life, progressive crypto regulations and tax policies, and a tech-friendly ecosystem. Plus, the Mediterranean climate, widespread English usage, and outstanding education system make for an easy transition for global citizens. 2. North American/Latin American Anchor If you don't already have some allocation in the Americas depending on your home country, it's time to diversify there. With more millionaires and a larger economy than anywhere else – no matter the trend of the West –, North America commands most of the world's financial and economic attention. But as one of the fastest growing regions of the world, Latin America could be the icing on the cake (or extra passport in passport portfolios). But these are two large, diverse regions, so let's break them down. North American Passports While a US passport means you're liable for citizenship-based taxation, Canadian and Mexican citizenship do not. Plus, they offer almost as much visa-free access around the world as the American passport does. So while you can invest and bank in the United States, you do not necessarily need a US passport, which would open you up to taxes for the rest of your life, especially if you're a high-net-worth individual. While many wealthy Americans seek a Plan B and options abroad, having an additional passport in North or South America could be beneficial. The trick is choosing the right program based on various country factors like: Processing times Minimum investment requirements Necessary physical presence Tax implications Business environment Economic and political stability Banking infrastructure Mexico offers easy residency qualifications via real estate purchase or proof of economic solvency and a path to citizenship in just five years. An investor and his partners can open a business in Canada and get Canadian passports in even less than five years. Central and South America Passports South America is one of the most friendly regions for fast paths to citizenship and tax regulation. Uruguay, Chile, and Paraguay all have advantageous tax schema and relatively quick residency programs and citizenship options. https://twitter.com/0x_ale/status/1844409391589753271 As I covered in the X thread above, Uruguay offers new residents an attractive tax scheme, where they can choose a 0% tax on foreign income for 11 years or a flat tax of 7% on global income for life. Known as the "Switzerland of South America," Uruguay is famous for its stability, low crime rates, and strong banking privacy. Plus, new residents can pad their passport portfolios by acquiring citizenship in just 3-5 years. Chile and Panama are similar in the relative size and strength of their economies and business environments. Both offer various investment programs and strong passports, which are notoriously difficult to obtain for foreigners. Depending on your risk profile and investment outlook, other countries in Central America that may check your proverbial boxes are Costa Rica, Panama, and El Salvador – all territorial tax systems with various residency programs and pathways to become a citizen (the latter even has a direct citizenship by investment program). If you're looking for a hideout in the event of World War III or a country with lower cost of living and lack of regulations, Latin America may be a preferable region. 3. Southeast Asian or Middle Eastern Hub Asia's rising economic importance makes it a necessary component of any serious passport portfolio. Countries such as popular destinations Malaysia, Singapore, and Hong Kong offer: Explosive economic growth Strategic business presence in Asia Additional visa-free travel options (Singapore has the best passport in the world, says Henley & Partners) Investment opportunities in growing markets Alternative residences for domicile diversification Strong banking systems Wealth and financial management centers The key to your position in the Asian Century (as Ray Dalio calls it) is capturing arbitrage and opportunities in its emerging technology, strong banking systems, and growing financial hubs. These jurisdictions offer not just residence options, but gateways to the world's most dynamic economic region. It's difficult to get a secondary passport in this region. In some countries, dual citizenship is not permitted, meaning you'd have to renounce your original citizenships in order to qualify in their country. Or a passport is deemed a right only for those born in the country. Therefore, the transition from resident to citizen is rare. But you do have the opportunity to get citizenship by investment in Cambodia, residency then naturalization in the Philippines (which permits dual nationality), or just residency in Singapore, Hong Kong, and Malaysia through various investment programs. I get it – Because of the lack of citizenship programs, getting passports in Southeast Asia can be difficult. A good substitute for this region in your passport portfolio would be the Middle East. Egypt, Turkey, and Jordan all over citizenship by investment opportunities. Plus, the region is appealing for its generally tax-friendly environments (read: United Arab Emirates and its free zones). https://twitter.com/0x_ale/status/1851316697233268867 4. The Strategic Wild Card This is where things get interesting. Your wild card choice should focus on emerging markets with significant growth potential. I covered this in a video about El Salvador, Portugal, and Argentina recently. https://www.youtube.com/watch?v=aixkuQ_MCbM Look for jurisdictions rich in natural resources, developing infrastructure, and rising economic and political influence. The ideal wild card passports should unlock access to untapped markets and benefits for your whole family while requiring little of your time and/or financial resources that other passports in your portfolio can't provide. Basically, this is where you take a calculated risk for massive future rewards. Think emerging markets with: Natural resources Growing economy and wealth Investment programs with reasonable minimum investments Potential for significant return on citizenship investment Future strategic importance Net inflow of foreign investment Growing visa-free travel Developing infrastructure and government Improving safety marks Rising regional influence Untapped real estate market These are all key factors to becoming the next Dubai, the future Singapore, or the Hong Kong of 50 years from now. Invest there now and your passport portfolio will thank you later. The Bottom Line Rising global instability, social division, political strife, and geopolitical conflict – The world is full of risk. Having supplementary passports isn't just smart: It's necessary. The perfect passport portfolio combines: A strong European base (namely, Portugal's golden visa) Access to the Americas Presence in Southeast Asia or the Middle East Strategic wild card Even just two passports massively expand your global access and mobility, banking, investment, and residential options. They're not just for filling travel gaps. This is about you and your family's security and safety. In uncertain times, that's a unique advantage high-net-worth individuals can't afford to ignore. Build the EU Base of Your Passport Portfolio Ready to start building your passport portfolio? Let's talk about how Bitizenship can be your gateway to EU citizenship. Because in 2025, the question isn't whether you need multiple citizenships – it's how quickly you can build your portfolio. The best time to build your passport portfolio was yesterday. The second best time is now. Don't wait until you need options to start creating them. Start your path to become a global citizen now.

10 MIN READ

02 Dec 2024

Dual Citizens Like Elon Musk and Peter Thiel Rule the World: Why and How to Get Dual Citizenship
CitizenshipDual Citizens Like Elon Musk and Peter Thiel Rule the World: Why and How to Get Dual Citizenship The following international business magnates and multi-billionaires are all dual citizens: Elon Musk – Canada, South Africa, and US citizen Roger Ver – Antigua and St. Kitts and Nevis citizen Peter Thiel – Germany, New Zealand, Malta, and U.S citizen George Soros – U.S and Hungary citizen Sir James Dyson – United Kingdom and Singapore citizen But why? Why have these entrepreneurs invested their time, money, and effort to obtain dual citizenship and a second passport? The short answer is – Global mobility is a prized asset, and wealth protection is increasingly difficult. So, a second citizenship is more than just a smart, forward-thinking investment. Dual citizenship gives you optionality and freedom in a world that demonizes it. In the next few minutes, I'll break down what dual citizenship is, why it’s worth the "hassle," and how people worldwide – from US naturalized citizens to those from emerging countries – are securing their future. The dual citizenship process isn’t always easy. But neither is building a million-dollar crypto portfolio or creating a billion-dollar business, right? Yet, here we are. What Are Second Citizenship, Alternative Citizenship, and Dual Citizenship? All these terms mean the same thing. In simple terms, dual citizenship is your legal right (in most cases) to hold citizenship in two countries or more. Why would someone want dual citizenship or even multiple citizenships? With citizenship rights in each country, you enjoy exactly that – all the rights, benefits, and also, the obligations of citizens in each country you have citizenship. In practice, this could mean holding Filipino citizens holding a Canadian passport at the same time. Or, a U.S. citizen with dual citizenship in Portugal. Thus, those individuals enjoy all the rights afforded to them by the nationality or nationalities that they hold. For billions, the nationality donned upon them when they were born may be restrictive on their global rights. Let's use a contemporary example: By no fault of their own, Russian citizens – no matter where they live – face restrictions worldwide. Some countries have restricted Russian citizens from opening bank accounts or even outright banned Russian citizens from entering their country. If those same Russian citizens obtain dual citizenship in a foreign country like St. Kitts and Nevis, they may regain a lot of the global investment rights and travel freedoms they once had. Dual citizenship isn't just about the travel perks. Picture it: Two passports, two sets of rights, two “homes” you can claim. You’re not bound by the political and economic policies of just one government. Sounds liberating, right? But, not all countries recognize dual citizenship. Some nations, like Japan, frown upon it and may even strip you of your original citizenship if you want to become a citizen of their country. Others like Spain have recognized dual citizenship only in former colonies (e.g. Colombia and Argentina). On the flip side, countries like both the United States and Canada not only recognize dual nationality but also encourage it, welcoming those who diversify their options. Just one nationality is, therefore, a constraint. A passport portfolio gives you multiple options when you need them most. Is Dual Citizenship Worth the Hassle? Now, you're probably thinking: Is it really worth the time, money, and paperwork to become a dual national? Absolutely. Here's why (then I'll explain in 5 ways, how to get dual citizenship). Travel Freedom Dual citizenship can unlock a new level of personal freedom with two levers of visa-free access. With a second passport, the world suddenly opens up for you. If you play your cards right, your visa-free travel freedom with two passports should expand significantly. No more lengthy visa applications, no more restrictive travel bans. Just the freedom to move and conduct business as you please. Here's an example: You're a US citizen. Therefore, based solely on your U.S. citizenship, you have pretty good travel rights around the world. However, you still have citizenship-based taxation and no residency rights in other countries. And your global citizenship and immigration services are not as extensive as some make them out to be. With dual citizenship from a European country like Portugal, not only do you get visa-free access to more countries like Russia, Belarus, Venezuela, and Bolivia, but you also gain the right to live, work, and study anywhere within the EU. Because of these additional benefits, a passport from a European Union member state is like 27 different passports in your backpocket. Or, by decree of just a birth certificate in the developing world, many are not born with the same rights and privileges as we are. Take, for example, Indian citizens. With the original citizenship of their native country, they have visa-free access to only 73 countries, compared to the US citizenship, which affords visa-free travel to 172 countries. But, of course, it’s not just about where you can travel. It's about where you can live. Plan B and Risk Minimization A second citizenship is the ultimate Plan B. If your “home country” becomes politically unstable, geopolitically risky, or economically unviable, dual citizens have another country to which to escape. For investors and entrepreneurs, this freedom is invaluable. At the drop of a hat, you can operate in a more favorable environment, away from overreaching regulations, punitive tax policies, or even war. In an unpredictable world, dual nationality is your insurance policy against political and economic turbulence. For instance, during the 2020 global pandemic, millions of Canadian citizens suffered. Those who disagreed with their government had their bank accounts closed, their assets frozen, and their borders shut. But, but those with Canadian citizenship and citizenship in another country had more options. While others were stuck within their borders, they had the opportunity to relocate and access a better life. Dual nationality is about securing your assets, too. Let’s say you’re a US citizen exploring residency by investment in a foreign country. Obtaining dual citizenship through a golden visa investment in Portugal, for example, grants you access to another jurisdiction, citizenship in just five years, potentially lower tax rates, and investment privileges in a whole other country and continent. Just as it's wise to minimize your financial risk by diversifying your portfolio, you should also minimize your geopolitical risk by diversifying your identity and nationality geographically. Economic Diversification Speaking of diversification, dual citizenship can broaden your economic prospects too. Each country in which you have citizenship has its own set of rules, investment opportunities, and tax advantages. Therefore, with more citizenship rights in your portfolio, you also have access to more business opportunities and financial privileges only citizens of those territories have. Why limit yourself to just one? For instance, consider natural-born Filipinos who obtain a second passport in a country like St. Kitts and Nevis. With their new immigration status, they can suddenly invest in real estate in the Caribbean, open a bank account, and even start a business without the usual red tape and security clearance a foreign person would face. Having two nationalities lets you access markets and investment opportunities that may have been off-limits with just one nationality. Why bet on just one government (and their rule of law) and put all your eggs in one basket when you can spread your metaphorical eggs across multiple jurisdictions? Optimizing Tax Obligations Tax is probably the first thing you either think or worry about when you hear “dual citizenship" – and for good reason. Tax obligations can get complicated when you pledge allegiance to one country and become a citizen of another country. However, smart planning can turn dual nationality into a significant tax advantage. That is, unless you hold US citizenship, which requires you file a tax return (not necessarily owe taxes) in the United States no matter where you live in the world. Some countries have double taxation treaties, designed to prevent you from being taxed on the same income in both places. For instance, the United States has agreements with many governments to avoid double taxation for its citizens abroad. Meanwhile, countries like Portugal have a favorable tax regime for crypto investors (i.e. zero capital gains tax on crypto holdings of more than one year), making it attractive for those looking to optimize their personal situation. Or, consider St. Kitts and Nevis, which has zero personal income tax and zero capital gains tax. On a normal tourist visa, you cannot live in the country for more than six months a year and, therefore, cannot establish tax residency in the country. So, if you invest in citizenship in the Caribbean island country, you can access their tax benefits. It’s all about understanding your current tax and immigration status, the rules of other countries, and finding the best path to minimize your tax burden while maximizing your wealth. How Do You Acquire Dual Citizenship in Another Country? How does one actually go about obtaining dual citizenship in two countries or more? Good news – There are several ways to acquire another citizenship. Here are some of the five most common methods: Normal Naturalization This is the traditional path to citizenship of which you're most likely aware. Most jurisdictions require a prospective citizen to spend a certain amount of time in the country to acquire citizenship. Each country will have its own eligibility requirements, often involving residency, language proficiency, and passing a citizenship test. So, do your own research. While this route requires a longer-term commitment, it’s ideal for those who wish to integrate fully into a new country, create ties with that territory, and reap the benefits of dual citizenship. Consider Canada, where one may not qualify immediately for citizenship by investing in the country or donating to the government. Prospective nationals must first become permanent residents in Canada, then spend at least three years in the country to qualify for naturalization and a Canadian passport. Residency by Investment and Naturalization Similar to straightforward naturalization, many countries offer residency by investment programs (i.e. golden visas). Through these programs, third country nationals have to invest in the country to qualify for temporary or permanent residency. Then, they must meet the stay requirements to qualify for naturalization. Via Portugal's golden visa program, you have to invest at least €500,000 in a local business, scientific research, or investment funds. Then, to qualify for citizenship in Portugal and residency rights in the European Union, you must spend on average at least seven days a year in the country for five years, renew your visa when necessary, and maintain your original investment. In most cases, I'd recommend consulting an immigration attorney to make sure you complete all requirements laid out by the local government's citizenship and immigration services and the citizenship application. Birth Tourism and Dual Citizenship by Birth Not all countries practice the same naturalization law either. When it comes to citizenship at birth, a country may deploy either jus soli (also known as birthright citizenship) or jus sanguinis law. The former means that a child born in the legal territory of the country automatically qualifies for citizenship, regardless of the parents' nationality. For instance, even if their parents do not hold US citizenship, a child born in the United States is an automatic U.S citizen. Similarly, any child born in Canada will be eligible for Canadian citizenship. As you can see in the map below, most jurisdictions in the Americas have few constraints when it comes to birthright citizenship. In the case of Argentina, Brazil, and a few other countries, if two non-citizen parents have a child born in a country that practices jus soli law, the parents of the child may also qualify for citizenship after a short period of residency. This is one of the simplest ways to secure dual citizenship in another country, especially for those with internationally mobile lifestyles. Dual Citizenship by Descent On the other hand, a government that exercises jus sanguinis law grants citizenship based on blood and descent. Most governments in the European Union practice citizenship by descent, whereas you can become a dual citizen by rights of your ancestors up to four generations in the past. Dual Citizenship by Investment A popular route among high-net-worth individuals, citizenship by investment allows you to obtain citizenship and a legal passport in exchange for a non-refundable contribution to, investment bond purchase, business capital infusion, or real estate acquisition in a country. Malta, Turkey, and several Caribbean island jurisdictions offer such programs. Roger Ver, an early Bitcoin investor known colloquially as Bitcoin Jesus, first invested in citizenship in the Caribbean in 2014 before renouncing his American citizenship. Then, in 2020, he purchased citizenship in Antigua & Barbuda to further diversify his portfolio, which just a decade ago, looked completely different. Dual Citizenship by Marriage Marrying a citizen of another country, depending on the nation’s laws, is another way to acquire dual citizenship. Some countries make this pathway relatively straightforward, while others have more stringent requirements, such as proof of a legitimate relationship or residency obligations. Dual Citizenship by Exception Although the cases are rare, most governments worldwide grant citizenship to individuals who contribute massive contributions to their economies or population. This could be through sports, science, business, or other fields. Although he didn't meet any residency requirements, Peter Thiel was granted citizenship in New Zealand for this reason. While not a common route, it's worth mentioning as another option for those with unique societal achievements. Things to Consider Before Getting Dual Citizenship Before investing time or money in the process, you should weigh all the potential consequences – positive and negative – of dual citizenship. Recognized Dual Citizenship Remember – Not every country recognizes dual citizenship. Some may require you to renounce your original citizenship before obtaining dual nationality there. So, before you prove the lineage of your ancestors in another country (which is often all it requires to be eligible for citizenship by descent), invest in a foreign country, or marry someone from a third-party jurisdiction, make sure you can hold citizenship there and in your native country. Restrictions apply. Tax Implications Tax obligations can get complicated when you’re a dual citizen. You might be subject to tax in both countries, depending on each nation's laws. For example, regardless of where they live, a US citizen and green card holder (i.e. permanent residents) must pay US tax on worldwide income. So, do not expect to get off scot-free with the IRS just because you're a citizen of another country and don't spend any time in America. On the contrary, most other governments practice residency-based taxation, meaning that if you live there for more than six months a year or establish strong economic ties there (e.g. property, family, memberships, etc.), you may be on the hook for taxes there as well. It's possible for Canadian citizens to acquire citizenship in an other country with favorable tax laws, spend fewer than six months in Canada, cut economic ties with the country, and never pay tax again. Legal and Political Rights Becoming a dual citizen means you’ll be subject to the legal systems of both countries. This can be both a positive or negative consequence, depending on the favorability of the laws in the countries where you hold citizenship and nationality. Upon swearing allegiance to both countries, this could include military service obligations, jury duty, tax obligations, voting rights, or other civic responsibilities. Dual citizenship could be your route to more secure and diversified freedom. More economic opportunities, reduction of tax burden, more travel rights – holding dual nationality can offer unparalleled advantages in 2025. Build a world where you're not reliant on a single government – rather where you increase your optionality to invest, travel, live, work, and study wherever you want. This world could be yours with two or more passports.

14 MIN READ

13 Nov 2024

El Salvador vs. Portugal vs. Argentina: 50 Years from Now, Who Has the Best Passport in the World?
CitizenshipEl Salvador vs. Portugal vs. Argentina: 50 Years from Now, Who Has the Best Passport in the World? Travel back in time. It’s the early 1970s, and you’re considering where to plant your family's roots. You think to yourself: Where can I invest that will give me the best return? London? Milan? New York City? If you would have invested in those cities, sure, your investment would've grown. But you also would've missed out on the investment opportunities of a lifetime in Singapore, Hong Kong, and Dubai, which were hardly the household names they are today. Each was a speculative investment for the bold, the forward-thinking, the contrarian, and those willing to take risks on what others dismissed as “fads.” 50 years later, the investors who did make those bets are reaping unimaginable returns – financially, socially, and with the world's most powerful passports. But now I pose to you the same question about today: Where will the next wave of growth occur?In the next 50 years, which countries will be the new Singapore, Hong Kong, or Dubai? I think the answers may lie in El Salvador, Portugal, and Argentina. Before you click off the page in a rage, let me make my case. These three nations offer unique opportunities in time to secure your freedom through tax optimization, lifestyle, and visa-free mobility. Here's the case for why each country may make a great second or third citizenship in your portfolio. https://youtu.be/aixkuQ_MCbM El Salvador – The New Leader of Latin America's Rising Tide Unless you've been living under a rock the last few years, President Nayib Bukele's El Salvador is making waves. For all the right reasons – and a few negative ones too. Announced at the Bitcoin Conference in Miami, El Salvador was the first country to adopt Bitcoin as legal tender in 2021. As such, it has positioned itself as one of many de facto nomad hotspots and expat destinations, especially for Bitcoiners and crypto enthusiasts. But, that’s not the only reason El Salvador has made the news: According to official data, Bukele's administration has also flipped El Salvador's reputation 180º from the world's most dangerous country to the Western Hemisphere's safest – in a matter of years, not decades. But beyond these groundbreaking moves, the Central American country has also found its way into the limelight for some negative news. President Bukele is consistently labeled an "authoritarian", "fascist," and/or "dictator" by leading global media outlets, a title he also proudly proclaims on his social media profiles. In a rare left-leaning policy, Bukele has also floated price controls and other protectionist economic strategies to curb corporate greed despite capitalist tendencies otherwise. Regardless of what you think of Bukele, his antics, and his politics, El Salvador offers an opportunity for those looking to diversify their citizenship portfolio, live a more off-the-grid lifestyle, and expatriate from their country. If El Salvador was able to make this shift in the past decade, what will they do in the next 10 years? Lifestyle Benefits Life in El Salvador might look exactly what you expect of it. The small Central American jurisdiction of only 21,040 km² offers a tropical paradise – beautiful beaches known for some of the world's best surfing, lush rainforests capped with active volcanoes, and a warm climate year-round. While El Salvador is certainly still developing (listed as the 127th most developed economy in the world), it has the potential to become a safe haven for crypto enthusiasts and travelers seeking a second place. While it doesn't offer the most world's powerful passport (check the Henley Passport Index) or traditional first-world living like in France, South Korea, Italy, or Australia, El Salvador offers a great setup for a second residence or vacation home, particularly for those who prioritize financial freedom. And, who knows? El Salvador could become the center of Latin American growth just as Singapore, United Arab Emirates, and Hong Kong have become for MENA and Asian countries. The government’s Bitcoin-friendly stance makes it a haven for investors in decentralized assets away from the watchful eye of traditional globalist banking systems. More on this in the tax section below. Global Mobility and Passport Strength When it comes to global mobility, El Salvador's passport is not yet in the top tier. Ranked 73rd on the Henley Passport Index, it still provides access to over 135 travel destinations visa-free, including the Schengen Zone, Ireland, Hong Kong, Russia, and top-ranked Singapore. This access makes it a relatively strong option for visa-free travel (or visa on arrival), especially if you're coming from a country with an even weaker passport. However, it doesn’t quite compete with Portugal's or Argentina's travel documents in this regard. But, as is the way of the world – As El Salvador becomes even safer and more respected on a global level, other countries will rethink their prior visa requirements and open their country visa-free to Salvadorans. However, for the Bitcoin HODLer who’s looking for financial freedom and a low-tax jurisdiction, the strength of El Salvador’s passport may not be the primary appeal. Instead, its forward-thinking approach to crypto taxation and business opportunities makes it a really attractive destination. Tax Advantages El Salvador offers one of the most attractive tax regimes in the world – for Bitcoiners and “normies” alike. Bukele's administration has made strides to reduce the number and severity of their personal and corporate income tax in order to incentivize migration to the country. El Salvador operates a territorial tax system, meaning they only tax income sourced locally in the country. And from a corporate standpoint, Bukele's government introduced a law to reduce corporate tax to zero for companies dedicated to artificial intelligence, computer programming, engineering, manufacturing, and other similar areas. While there’s no concrete regulation yet, Bukele has referenced elimination of personal income taxes and capital gains taxes for huge swaths of the population. Keep your eye out for more news on this. Why Choose El Salvador? For those looking to maintain their crypto wealth while enjoying a tropical paradise, El Salvador might just be the next big thing. It's the longest of long shots on this list, much like top-ranked Singapore was in the '70s, but with enough potential to justify the risk. Their progress in the last decade has been nothing short of astounding. Let's hope they can continue the general trend and progress toward becoming a top destination and passport of years to come. Portugal – Home to Europe's Hottest Golden Visa If El Salvador is the wild bet, then Portugal is the safe, calculated investment.  Consistently ranked among the best places to live in Europe (Expat Insider ranks it #7 in the world), Portugal offers a near-perfect blend of modern infrastructure and amenities, a mouthwatering food and wine scene, high quality of life, a visa-free destination score of almost 180 (that's really good), and potentially favourable tax benefits for foreigners. For anyone looking to plant roots in European countries, this is the ultimate destination. Lifestyle Benefits Portugal is the jewel of Southern Europe with incredible infrastructure, world-class healthcare, stunning coastlines, and a warm Mediterranean climate. In fact, Portugal receives more than 300 days of sunshine a year, more than the majority of its Northern neighbours. Whether you’re considering Lisbon, the cosmopolitan capital, the tranquil countryside of the Algarve, or the tropical island of Madeira, Portugal offers something for everyone. But, regardless of where you'd live in Portugal, you're within proximity to – well, wherever you want to go. With 35 million visitors every year, the Lisbon airport is among Europe's busiest and most connected international hubs with easy access to major European destinations travelers desire like the UK, Spain, France, Germany, Sweden, and Italy. Global Mobility and Passport Strength Portugal’s passport is consistently ranked among the most powerful passports in the world. According to the Henley Passport Index, Portuguese passport holders enjoy visa-free access to over 180 countries, including the United States, Canada, and most of Europe. This level of global mobility makes Portugal one of the best investment options for those who value mobility (i.e visa-free access to much of the world) and travel freedom. Especially if an investor has a current nationality with access to fewer destinations visa-free, the Portuguese passport is quite attractive. With a minimum investment of just €250,000, the golden visa's route to citizenship in just five years with minimal physical presence requirements makes it one of the most accessible passports in the European Union. And if you're not already familiar with how useful citizenship in the 27-member European Union settlement bloc is, here are a few benefits: Travel visa-free to any member state Reside in any member state Work in any member state Study in any member state Access healthcare in any member state With just one European Union passport, you essentially get access to all of them. Very few people in the world, including US passport holders, can say that about their travel documents. (If you're interested in investing in Portugal, getting exposure to Bitcoin, and acquiring citizenship in the European Union after just five years of minimal physical presence in Portugal, the Bitizenship fund can help.) Tax Benefits The Portuguese government’s Non-Habitual Resident (NHR) tax regime, which may be reintroduced after it was eliminated in 2023, offered one of the most attractive tax environments in Europe. Under this regime, foreign residents in Portugal enjoyed zero tax on foreign-sourced income, including capital gains from Bitcoin, for up to 10 years.  The current government is discussing the possible return of NHR, a development we're closely following as enthusiasts of Portuguese economic growth and of the golden visa program. Not only is Portugal home to several tech-forward crypto brands and annual industry conferences. The government does not tax crypto capital gains if it's held for more than 365 days. These two factors make life in Portugal quite attractive for crypto investors, builders, and businesses. Why Choose Portugal? For investors seeking residency rights in Europe with the added benefit of one of the world's most powerful passports, Portugal may be a winner. And, with Bitizenship’s indirect Bitcoin investment option, the golden visa is a safe bet on your financial future and quality of life. Argentina – South America's High-Risk, High-Reward Play Argentina might seem like an odd inclusion in this lineup, given its history (nearly a century) of economic instability and political turmoil. However, it's an interesting case study. Javier Milei, a rambunctious libertarian and economist, won the presidency in 2023 and has proclaimed the end of economic misery and hopeful return to Argentina's once-dominant past are near. If you're seeking a high return on investment or a quick path to a second passport, Argentina may be a solid future home. Lifestyle Benefits Tucked in one of the world's farthest travel destinations in the Southern Cone, Argentina is a country of extremes – incredible natural beauty, a vibrant culture that differs wildly from many of its South American neighbors, but a turbulent economy. Called the Paris of South America, Buenos Aires offers a “European” lifestyle at a fraction of the cost. Just look at its architecture for clues. The country’s diverse landscapes include everything from the snow-capped Andes to the sprawling vineyards of Mendoza. Argentina's food and wine scene, dominated by meat and malbec, is unique. Global Mobility and Passport Strength For most investors and entrepreneurs, Argentina won’t be a full-time living option unless they choose the bustling capital of Buenos Aires as a base. Instead, it’s a country where you can establish temporary residency just long enough to secure citizenship and then enjoy the benefits of a South American passport – a strong one at that – while continuing to live elsewhere. Interestingly enough, temporary residents can qualify for citizenship after just two years of residency while a permanent residency permit must wait three years. The Argentinian passport is surprisingly strong, offering access visa-free (or visa on arrival) to about 170 countries, including all of South and Central America, the Schengen Area, the UK, and Russia. According to the Henley Passport Index, Argentina's passport ranks 14th in the world. Latin America's strongest, this powerful passport rivals many European giants like the UK in terms of visa-free access. Argentine passport holders have far more access visa-free around the world than most would expect. The travel document comes just a few destinations short of top passports like Portugal and Singapore. (While Argentine law prohibits renunciation of citizenship, we’ve heard rumblings that this is not a practical concern in reality.) For those looking for greater travel freedom without having to spend a decade naturalizing in a nation, Argentina offers a quick path to citizenship and South America's most powerful passport. Argentine citizens may even witness a significant increase in passport strength if Milei's ambitions come true. Tax Benefits While Austrian economist Milei has proven himself to be pro-Bitcoin in the past two decades, he's yet to announce significant policy to push forward the movement in Argentina since he was elected. He has launched dollarization policies but none that offer any room for Bitcoin as legal tender. Argentina is not known for its tax-friendly policy. However, under President Milei, that may change. Since taking power, he has announced significant tax cuts in the form of reduced personal income taxes, import and export taxes, and corporate taxes. As Milei attempts to show the benefits of a more globalist economic approach in a notoriously protectionist country, hopefully a lot of his policies see the light of day and remain for decades to come. This may bode well for those seeking a life in Argentina. Why Choose Argentina? Argentina is a classic case of high risk, high reward. Despite our best guesses and hopes, no one really knows where the South American nation is heading. As Milei has said, it will get worse before it gets better. But, what did Buffett say? “Be fearful when others are greedy. Be greedy when others are fearful.” So, while the volatile economy presents challenges, for those willing to take the risk, it offers opportunity as well in the form of a quick, easy path to citizenship and one of the world's most undervalued passports. Who Wins: El Salvador, Portugal, or Argentina? So, where should you invest your time and resources? First of all, the passport index concept that I've shared throughout this post is just a proxy for passport strength. Mobility is subjective, and the world's passports differ on far more than just visa-free access. If you're from Denmark, New Zealand, Norway, or Japan, a second passport with less visa-free access doesn't excite you as much as it would someone from Syria, whose passport holders have access to the fewest destinations visa-free in the world. So, the answer to that question, of course, depends on your goals and your current situation: Is visa-free destination score even important to you?Or, do you want to reduce your taxes from more than 50% to single digit percentages?Or, do you prefer access to banking and financial opportunities you don't currently have in your home country? One thing is certain – The following countries are poised for immense growth in the next century if they follow their current growth trajectory and an optimist's best case scenario. Regardless of their current strength, each passport will likely be far stronger in the future. El Salvador is the crypto-forward nation, ideal for those prioritizing financial freedom and low taxes on digital assets. Its passport may not be the most powerful, but its embrace of Bitcoin and future-oriented policies make it a bold choice for Bitcoiners. If you're looking for a tropical vibe where the government is less organized and provides lots of opportunities, El Salvador may be your bet for the future. Portugal offers the best blend of lifestyle benefits, global mobility, and tax advantages. Its passport is among the strongest in the world, and the potential return of its NHR tax regime could save you significant amounts in income tax. For those who value safety, infrastructure, and easy access to top travelers' destinations, Portugal is the clear winner. Argentina is for those looking for a quick and easy second citizenship without long-term residency requirements. While it’s a higher-risk play (but not as high-risk as El Salvador), Argentina’s passport is already surprisingly strong. So it may be a “watch-and-see”-type play if you can get Argentine citizenship then return when things improve. If the last five years are any indication, we'll likely see even more countries join this list of bets for the future. The rise of travel freedom and tourism, cryptocurrency, and decentralization has shifted global citizens' priorities. Just as Bitcoin has freed wealth from centralized control, a second passport in the world frees you from the limitations of a single authority and government. Let's say you can't choose any of the countries listed in this article. Where would you put your money? Who's going to surprise everyone and become the next Singapore, Hong Kong, or United Arab Emirates?

15 MIN READ

24 Oct 2024

Why Every Bitcoiner Should Invest in Alternative Citizenship
BitcoinWhy Every Bitcoiner Should Invest in Alternative Citizenship If you're holding Bitcoin, you’ve already embraced a radical idea. If you invested in Bitcoin 15 years ago, you were looked at strangely – if you even talked about your investment publicly at all. You’ve stepped outside the traditional financial system, opting for an instrument decentralized, independent of the powers that be, uncompromisable, and digital. But here’s a question – What if you could extend that mindset beyond the financial world? What if your citizenship could be as flexible, strategic, and future-proof as your investment strategy? This is the case for second (and even third) citizenship in a Bitcoiners' investment portfolio. A Second Citizenship is an Investment in Your Freedom and Future For many in the Bitcoin space, Bitcoin is more than just a backup plan. It's Plan A.  Bitcoin is about buying optionality in a future that we cannot predict. The concept of alternative citizenship is similar. It's about investing in your optionality – your ability to choose ... Where you live Where you invest How you pass on freedom to future generations Like your decentralized investment portfolio, a second citizenship provides a hedge against geopolitical and market risk, the flexibility to adapt at a moment's notice, and go where you're treated best, as Nomad Capitalist's Andrew Henderson famously says. No more obvious was this need for flexibility than during the global pandemic of 2020. All of the sudden, international flights were cancelled, millions were laid off from their jobs, and bank accounts were flooded with trillions in government stimulus. Panic ensued. But not everywhere. Different countries took different approaches to the pandemic. Life in Sweden went unchanged. While the Canadian government in power mandated medical procedures on its population, censored any form of dissent online, and froze the bank accounts and financial assets of those who disagreed with them. Night and day. Imagine at that moment being Canadian (many of you don’t have to). Imagine not being trapped. Imagine acquiring citizenship in a foreign country or several countries, having the freedom to escape "yours" when the proverbial excrement hits the fan, and choosing where to live, where to work, and where to provide your children the education they need to thrive in the future. Really, you don't have to imagine it. Foreign investors with multiple passports lived this reality in 2020. They bounced from country to country, from economy to economy, living in the jurisdictions that served them best in the moment – while those with one passport did not. How does Bitcoin differ? At its core, Bitcoin is a hard money designed for freedom from inflation, governmental overreach, and the constraints of centralized systems. A second citizenship offers a similar kind of freedom. It gives you optionality, a way to decentralize your life away from one single government, to diversify not just your financial assets but your identity. How Multiple Citizenships Are a Hedge Against Market Volatility and Geopolitical Risk Bitcoin is a hedge against inflation and the collapse of the traditional financial and political systems. With access to several economies, bank accounts, and investment opportunities across the world (versus just those in your own backyard), a passport portfolio is also a hedge against unnecessary risk in your country's economy, geopolitics, stock market, and response to global events like the pandemic. In times of crisis, wealthy individuals don’t want to find themselves heavily reliant on one single government and have to scramble for visas or residency permits in safe haven countries. They want to have a second passport in hand to access benefits like: More extensive visa-free access and travel More tax optimization opportunities More personal security and privacy More business opportunities More education and healthcare access More ways to protect your wealth and assets More political stability More residency and living options More generational inheritances Second citizenships are like value stocks (vs. growth stocks): You may not see their ROI immediately. But with time, they can far out-earn other investments by significant amounts. But what happens when the country where you've invested your whole life suddenly goes to war and needs all the resources it can possibly get? What happens when they're attacked by a foreign power? This is where second citizenship comes in. It’s a hedge against market volatility and political instability. The goal is diversification. Just as you wouldn’t put all your Bitcoin in one exchange, buy all your coins at once (you may even be dollar cost averaging), or put all your wealth in one bank account, you shouldn’t rely on just one passport.  Spread your money wisely and give your family a secure future – no need for perfect market timing. Bitcoiner Personas and Their Ideal Citizenship Investment Strategies Bitcoiners aren’t a monolith. If you've spent years in this space, you already know this. We come with different risk tolerances, ideologies, timelines, and goals. Your path to citizenship shouldn't be any different. What one individual may be interested in for their portfolio and lifestyle goals may not interest you at all. Your citizenship portfolio should reflect your investment philosophy. In fact, they're one and the same. So why should a Bitcoiner consider a new citizenship? I'll answer that question and propose how it fits into various investing strategies based on your approach to Bitcoin. 1. The Bitcoin HODLer & Philosopher You believe in the long game. You’re a long-term investor who doesn’t flinch at market fluctuations because you know that over time, Bitcoin is the future and its value will reflect that fact. Apart from your financial approach, you also believe in the Bitcoiner philosophy, a piece of the Bitcoin puzzle most don't bother to study: You relish healthy living, individual liberties and sovereignty, and the return of traditional values to society. The Bitcoin Standard is on your nightstand. And, you just want to be left alone. For you, acquiring a second citizenship is about future-proofing your life just as you’ve done with your Bitcoin holdings. Ideal Citizenship Investment Strategy — Good news. Many countries fit the bill – with low taxes, a low geopolitical profile, a predictable economy, and long-term investing opportunities. Portugal’s Golden Visa and residence permit or El Salvador's Freedom Passport program are solid choices.  Via Portugal's Bitizenship fund, investors can get an immediate residence permit and citizenship in five years with indirect exposure to Bitcoin. What makes this program special is 1) the low physical presence requirements for residency and 2) maintaining exposure to €500,000 worth of bitcoin. So not only do you get residency and/or citizenship out of your investment, you also can get a huge return on your original Bitcoin investment. Over in Latin America, with a government donation of US$1 million in BTC or USDT, El Salvador's citizenship by investment program offers investors immediate citizenship. For the HODLer looking for stability and not necessarily a return on their investment, plenty of other jurisdictions grant citizenship or residency in exchange for investments in real estate, mutual funds, exchange traded funds, and index funds. Some countries also offer independent means visas for those with pensions, recurring income, and passive investing. We'll talk more about these options below. 2. The Bitcoin Day Trader You live and die by a stock price and thrive on volatility, moving in and out of positions based on technical analysis and momentum investing. You approach your investments with confidence, no matter the market sentiment or market prices. You're not as interested in Bitcoin for its long-term viability in society. You just want to take advantage of its Number Go Up (NGU) technology and make as much income as possible during the run-up. This is your livelihood after all. For you, a second citizenship isn’t really about security. It’s about the ability to react quickly to higher risk, to reduce your capital gains taxes, and to navigate international law – legally. Therefore, you're tuned into your investment options and what countries offer. Ideal Citizenship Strategy — Your best bet is a direct citizenship by investment program that offers fast access to a full citizen’s privileges, new markets, and reduced taxes. Consider countries like Malta or St. Kitts & Nevis, which offer some of the world's most tax-friendly policies and quickest paths to naturalization through their citizenship by investment programs. Your investment choices are high-risk, high-reward. Your citizenship strategy can reflect that investment approach as well. With more money in high-growth markets, the more potential for a boom in your investments. 3. The Value Investor Remember Singapore, Hong Kong, and Dubai in the 1950s? No? Neither do we. And that's the point. Imagine having invested in a jurisdiction like those examples 50 years before they became what they are now. Imagine getting citizenship in Singapore, which now has the world's most valuable and hard-to-obtain passport, before it was even on the map. You'd be considered the Warren Buffett of citizenship investing. Dual citizenship is inherently a value investing tool. For decades, a passport portfolio has been severely undervalued. But now, millions have now accessed the benefits of a second citizenship. So the question is – Which countries are today's growth stocks? Which jurisdictions are the targets of value investing? To where are the growth investors (and their investments) migrating? The answers to these questions will reveal the Hong Kong of tomorrow, the Dubai of tomorrow. Is it Buenos Aires? Have you seen what's happening in El Salvador? Is it Saudi Arabia? What about Kuala Lumpur? Where can you invest to get a 1,000,000x return? If you spotted Bitcoin early, you should have no trouble finding the next investors’ paradise. Market fluctuations? That's just part of the game. For you, value investing is the cornerstone of your investment strategy. Buy low, sell high. Ideal Citizenship Strategy — The best strategy for you is to travel the world, explore new markets, find those with the highest probability of succeeding based on various factors, and begin investing in those that fit your financial goals. Countries all around the world offer investment programs for foreign nationals like you. And, of course, when you send money to a country, invest in a business headquartered there, or procure actively managed funds, you receive tangible benefits like residency or citizenship. Incentives – This is how countries in the 21st century attract wealth investments. How to Choose the Right Citizenship Program Based on Your Risk Tolerance What surprises most people I talk to is that acquiring citizenship in most countries is not a backchannel strategy. You can obtain another passport by any of the following paths and more: Investing in real estate Excelling in your field or craft Opening a company or creating jobs Donating money to a government fund Proving your ancestry in that jurisdiction Simply spending the required time to naturalize Being historically or culturally important to a country Holding money or investments in a financial institution Providing exceptional services to a country's population All this to say – There is a diverse range of ways to obtain another citizenship. Successful investors know their needs and build a citizenship portfolio that meets them. Just like in investing, there’s no one-size-fits-all approach to citizenship. Beginner investors must do their due diligence to find the right investments for them. Your choice should reflect your risk tolerance, goals, and personal circumstances. First, evaluate your risk and reward. Then, determine your goal (financial goals, family goals, investing goals, lifestyle goals, etc.). If you’re willing to take on more risk, consider fast-track citizenship options like Antigua & Barbuda or Vanuatu. These programs offer quick returns but come with political uncertainties. For example, those who were investing in Vanuatu citizenship a few years ago didn't know that the European Union would strip the country of visa-free access to the Schengen Zone in 2024. If the investors knew of that future policy change, might they have changed their opinion before sending their US$100,000 donation to the Pacific island? Who knows... If you prefer a more stable, less risky approach, investors have numerous residency by investment options and naturalization paths. These programs may require more physical presence and a longer timeline, but for many, they want to spend time in a jurisdiction before investing significant time and/or money in a country. Here are a few investment routes Bitcoiners could take: Independent Means Visas Independent means visas simply require applicants to show economic solvency and proof of recurring income (in the form of pensions, retirement income, or other passive investing sources). That's it. Most independent means visas also lead to citizenship but may require more physical presence than golden visas, which I'll cover in a second. Typically, these visas are designed for retirees and pensioners but can sometimes be ideal for others. Portugal's D7 Visa Thanks to its golden visa and tax policies although the Non-Habitual Tax Regime (NHR) has been closed, Portugal has become a popular destination for digital nomads and Bitcoiners over the last decade. The D7 Visa allows individuals with sufficient passive income to apply for residency in Portugal and eventually citizenship in five years. Uruguay If you're looking for a more tranquil, off-the-grid option, here is your opportunity. For Bitcoiners seeking stability and safety, Uruguay offers the Rentista Visa. Tucked away in the Southern Cone of South America, Uruguay and their independent means visa allows individuals who can demonstrate a monthly passive income to establish residency in Uruguay. Known for its high quality of life and political stability (it's called the "Switzerland of South America"), Uruguay is an excellent option for those looking to invest in a South American residency. Plus, investors can choose whether to pay a 7% tax for life or 0% tax for 10 years once they become a tax resident.  Golden Visas Panama's Friendly Nations Visa Panama has long been considered a LatAm hub for expats and investors. The Friendly Nations Visa allows citizens from certain countries ("friendly nations" like the US, UK, Canada, and Australia) to obtain residency through either the establishment of a local business or by demonstrating financial self-sufficiency (e.g. retirement income, pension). Andorra's Passive Residency Program Between Spain and France, mountainous Andorra offers one of the most attractive independent means visa options in Europe through its Passive Residency Program. The program requires a minimum investment of €400,000 in local real estate or local financial institutions. However, physical presence is strictly required in order to renew the visa and/or convert it to citizenship. Portugal's Golden Visa Portugal's golden visa is the most popular in the world for good reason. With minimal presence requirements and just a five-year path to citizenship, it's the best of both worlds. Plus, through the Bitizenship fund, you can invest indirectly in Bitcoin and recoup your investment after you've obtained permanent residence or citizenship. Citizenship by Investment Malta's Citizenship by Investment Together with El Salvador’s Freedom Passport, Malta’s Exceptional Investor Naturalization (MEIN) Policy is the most expensive of all residency or citizenship investments listed here. But, many claim it's for good reason. With an investment of almost €1 million in real estate and donation to the government, investors can obtain citizenship in the European Union – albeit in a matter of years as the application backlog is growing. St. Kitts & Nevis's Citizenship by Investment Back in 1984, Caribbean island nation St. Kitts & Nevis offered the very first Citizenship by Investment program. With visa-free access to over 145 countries, its passport is still strong. Moreover, if you're looking to reduce your taxes (potentially to zero), invest in citizenship here and become a tax resident: St. Kitts & Nevis doesn't levy any personal income tax. Just as you approach your Bitcoin holdings with a long-term mindset, think of a second citizenship as part of your broader investment strategy. Diversify and reduce risk. A citizenship portfolio is like digital real estate. Secure your freedom, invest in your legacy, protect your family, and open up new investment choices across the globe. But you have to identify your long-term goals first to determine the ideal location or group of places that best fit your lifestyle. Buy Bitcoin. Invest in a second citizenship. The future belongs to those who see it coming. And as a Bitcoiner, you’re already ahead of the curve. Now, it’s time to extend that approach to your citizenship.

14 MIN READ

17 Oct 2024

Citizenship Will Be Unrecognizable in 50 Years (And The Sovereign Individual Predicted It)
CitizenshipCitizenship Will Be Unrecognizable in 50 Years (And The Sovereign Individual Predicted It) Published in 1997, The Sovereign Individual outlined a future in which individuals would transcend traditional nation-states. Now, fast forward to today. Your so-called "belonging" in a nation-state has already transformed beyond recognition. For those with foresight, now is the time to prepare for what's to come. So what will citizenship look like in 50 years? How will humans migrate and invest across the world? In this article, I take a stab at both questions and unveil my preparation strategy. https://youtu.be/3oHy6m1U5tk What The Sovereign Individual Got Right (and Wrong) More than 25 years ago in 1997, the authors of The Sovereign Individual William Rees-Mogg and James Dale Davidson predicted a future where technological advancements would dismantle international borders and the traditional relationship between individuals and nation-states. Astonishingly, they were correct about many facets of modern life. The book foresaw the rise of the internet, the creator economy, remote work, cryptocurrency and the blockchain, digital nomadism, and the citizenship by investment industry (CBI), where individuals bypass borders, invest in other countries, and are rewarded with citizenship. In the past, that international lifestyle was accessible only to the wealthiest of high-net-worth individuals. But today, capitalism and technology have afforded those same benefits to the common man, the crypto pioneers, and the digital nomads across the world. A Rwandan tribesman with just an internet connection can compete with the best of the best in New York City. However, Rees-Mogg and Davidson didn't predict the future 100% correctly. In 1997, who would have?! While technology has, of course, empowered millions (if not billions) to live more globally, the power of the state has persisted far longer than they anticipated. The writers foresaw greater autonomy and independence of the individual in the future, but welfare states and federal governments have not ceded as much power as they assumed. Now in 2024, corporations and the wealthy have learned to avoid excessive taxation by relocating across international borders, accessing private crypto technologies to secure their wealth, creating offshore financial strategies, and other means. Governments have responded to this mobility and financial decentralization by strengthening financial regulations, naturalization requirements, banking frameworks, and CBI due diligence. Despite these governments' attempts to coerce the rich, we expect to see shrinking federal tax bases and more aggressive government financial incentives to recruit them. So Rees-Mogg and Davidson’s predictions will come true; it may just take longer than expected. And, in that tension lies opportunity. The Growth of the Citizenship by Investment (CBI) Industry In 1984 St. Kitts & Nevis, a Caribbean island with a population of about 47,000, was the first independent country to offer investors naturalized citizenship for a donation or real estate purchase in their territory. And thus, began the CBI industry. The Sovereign Individual predicted the rise of this CBI industry. As countries recognized the demand for flexible citizenship and migration options, their forward-thinking leaders created programs that allowed motivated individuals to acquire citizenship in exchange for investment in their country and economy. For families facing negative political influence or economic uncertainty in their home country, these programs offered a new kind of security. Another citizenship in one's backpocket is an effective insurance policy to reduce risk, as illustrated by the flag theory. If you were to hold your assets, residence properties, citizenship, bank accounts, businesses, and income streams in different countries, you'd reduce your risk of theft, market downturns, and rogue governments. Think about it. You’d be unstoppable if you had … Citizenship in the United Kingdom and the United Arab Emirates Businesses incorporated in the Cayman Islands and the United States Residency permits in Malaysia and Panama Homes in Argentina and Italy Bank accounts in Hong Kong and Cyprus Blockchain, cryptocurrency, and digital assets – The wealthy now have new ways to guarantee their personal sovereignty. And if their wealth lives in a decentralized system, why should their citizenship be tied to a single state?  Dependence on a single authority for all elements of your life is a death march. The CBI industry has grown rapidly, especially since 2020 when many realized their desire for a Plan B (or Plan A for that matter). However, its limitations are becoming clear. Governments are tightening their rules, and the overbearing influence of organizations like the EU has resulted in higher investment thresholds, overly scrutinized due diligence, and more challenges. Is the shift from citizenship by investment to residence by investment (RBI) underway? The Shift from CBI to RBI If the last decade saw an explosion in the CBI industry, I think the next 50 years will be defined by the residence by investment (RBI) model. Why? Because families and individuals don’t just want the freedom to move – they want the security of belonging without the scrutiny of a CBI case. RBI provides a middle ground – Access to residency with the option to naturalize without all the undue scrutiny of CBI. Plenty of countries around the world offer permanent residence by investment programs. For good reason, Portugal's golden visa is the most popular while the following countries offer their own versions of RBI: Canada Cyprus Greece Malaysia Malta Mexico Panama Spain Thailand United Arab Emirates United States Why Portugal? Portugal has become a hotspot for digital nomads, high-net-worth individuals, and crypto holders looking to secure European residency because of its ... climate; Mediterranean lifestyle; potentially low taxes (especially compared to the rest of Europe); low physical presence requirements (7 days in the first year, then 14 days each subsequent two-year period); right to reside, work, conduct business, and access education and healthcare services across 27 European Union member states; five-year pathway to naturalization; among many other benefits. Through the Portugal golden visa, applicants can choose to invest €500,000 in venture capital or private equity funds or indirectly in bitcoin via the Bitizenship fund, the world’s first Golden Visa Fund focused on Web3 technology. The trend towards RBI reflects a deeper evolution in how families plan for the future. Unlike CBI’s one-time commitment, potential due diligence issues, and upfront costs, RBI provides flexibility and a possible return on your investment without immediate naturalization. CBI was the solution for the last 20 years, but the future lies in flexible residence options that allow families to continue living their lives uninterrupted without attachment to one single place. There’s something Rees-Mogg and Davidson missed. What Will Citizenship Look Like in 50 Years? As the sovereign individual weens off the government, they realize they didn't need it as much as they may have thought they did. I've noticed this. Have you? In a few decades, citizenship of a state will look and feel fundamentally different than it does today. Individuals won't depend on just one citizenship. Instead, individuals will be global citizens. Decentralized citizenship will be mainstream, and they'll carry several passports and wield their influence as such across the world. Citizenship will be more fluid.Citizenship will be less political.Citizenship will help us navigate financial and geopolitical uncertainty. You and I will be an amalgamation of values from the cultures we choose to propagate, rather than only those passed down from our ancestors. This doesn’t mean a loss of values, but rather the emergence of new values. In the future, we’ll see the idea of citizenship undergo a dramatic transformation. I hope this is the case. Emerging technologies, political shifts, and digital assets will change the very fabric of what it means to "belong" to a country. Individuals will carry digital passports, securely and privately stored on the blockchain, allowing them to manage their assets across multiple jurisdictions. Nations will compete for productive citizens, offering incentives like lower taxes, digital services, political influence, and a quality of life that matches their needs. All the while, creating a unique investor profile for the investors they want to recruit. We will adopt a portfolio approach to citizenship, holding multiple residencies and multiple citizenships across multiple regions to reduce risk. A home in Portugal for its EU benefits.A residence in the Caribbean for tax optimization.An Asian base to tap into new business opportunities. Citizenship will be less about allegiance to one state. Citizenship will be more about eliminating dependence on authorities and jurisdictions altogether and choosing to spend time in the places that serve our interests. How to Prepare for the Future of Citizenship So, how can you prepare for a future where citizenship is fluid, mobile, and decentralized? Invest in CBI/RBI Programs — Secure multiple long-term residence permits in stable jurisdictions. For example, invest indirectly in Bitcoin through Portugal's golden visa Bitizenship fund and get residency rights across the European Union. Use Decentralized Technologies — Your citizenship and finances should reflect your independence from the state. So, manage your assets and influence through decentralized financial systems like Bitcoin, cryptocurrency, and other blockchain technologies. Stay Mobile — Flexibility and openness are key. With growing geopolitical and market uncertainty, march into new opportunities with the ability to adapt at any moment. With this approach, you position yourself, your family, and your finances to thrive. The future is bright for those willing to invest in their sovereignty and extend their influence across jurisdictions. In the next 50 years, citizenship will evolve from a static legal identity tied to a single state to a fluid, flexible system. But not for everyone. That depends on you. The state will not make this transition for you. They want your tax revenue. In fact, they'll make flexibility more difficult for you to obtain if you don't act now. Plan wisely.Invest in the right jurisdictions and decentralized assets.Become ungovernable.Become sovereign.

8 MIN READ

09 Oct 2024

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