How Kevin O’Leary Became a UAE Citizen
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- Опубликовано: 7 июл 2024
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In this video, Andrew delves into the fascinating journey of Shark Tank's Kevin O'Leary and his recent announcement of acquiring triple citizenship. Discover the strategic passport portfolio that O'Leary has built, starting with his Canadian and Irish citizenship and culminating in the prestigious Emirati citizenship.
What are your thoughts on Kevin O'Leary's triple citizenship? Would you consider a similar strategy? Share your insights in the comments below!
00:00 Start
00:12 Kevin O'Leary's Passport Portfolio
1:34 Acquiring UAE Citizenship
2:28 Citizenship by Exception
4:21 Benefits of UAE Citizenship
8:53 Canadian and Irish Passport
11:55 Additional Passport Recommendation
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You didn't cover the Family Book. For those who don't know, the UAE can grant passports but that's essentially just a travel document, the actual citizenship privileges are passed to your kids via a Family Book. So most people that are getting the passport, even if high profile, aren't getting the Family Book, hence, it's still a useful passport, but no local perks.
Good for the US?
What are they missing out of? Freehold land or something?
@@iTuber012 Citizenship means free healthcare subsidized by the government, 100% land ownership anywhere in the country and 100% company ownership outside of the free zones.
@@iTuber012 free healthcare, free higher ed gov college for their children, subsidized utilities, job quotas, pensions, etc. Not that a rich person like Kevin would need that but also, kevin doesnt need a why does need a UAE passport when he has an Irish and Canadian passport which are perfectly good.
The book doesn't matter. Citizens still get all benefits. You can keep the extra book perks.
The emirates ID he shown is a golden visa - which is a residency permit based off investment in the country for 5-10 years, but he wouldn’t be able to get the full access citizenship without the family book
No I don't think it's a golden visa, golden visa isn't that hard to get and he wouldn't say I'm very proud of it, Also they give the citizenship to top tier talents and scientists
Yes it is not a passport but an Emirate ID
sorry, can't take him seriously anymore after the FTX saga
You must not understand how being an investor works.
You put money into a business and don’t manage it directly. When everything happened he condoned the actions that SBF was doing.
Learn money first
@@alainmorales1155 did you mean to say condone? Or did you mean condemn?
@@alainmorales1155by that logic, shouldn’t Kevin have checked to make sure they weren’t using quickbooks before he gave them millions? Maybe some sort of transparency agreement?
@@alerenesisnoticed that too. Given* the context, it does seem like this person meant condemn.
@@hondusspa but that's the thing. O'Leary did not condemn Bankman-Fried at all
Think they’re some confusion here: Kevin showed up an emirates ID which is essentially a golden visa like a permanent resident but not a full passport. The golden visa isn’t impossible to get. I got mine back in 2019 and it allows me and my family all the benefits of being a GCC resident while still holding on to my British passport.
True bro
How’d you get a golden visa?
Emiratis have an Emirates ID as well. Nobody can tell just from the clip whether his ID was an emirati one or a golden visa.
@@SirDailySuccesses buying a property is good way to get it
How do you get one?
As someone who knows Emirati's, they will respect the status the government gave him, but he will never be one of them. Their sense of national identity is very traditional, and even if he accepts Islam and learns Arabic that may not be enough.
Highly likely he already knows that.
I don't think he wants to be an emirate more like he want the full opportunity of a gulf citizenship which grants access to all gulfstates countries including Saudi Arabia, Qatar, oman etc
He doesn’t care, he cares about the opportunity that the Emirati passport gives him such as unrestricted access to UAE, Freedom of movement in Saudi Arabia, Qatar, Kuwait, Bahrain and Oman, visa free access to China and Russia (which btw none of his previous passports offered). That’s what he cares about, I don’t think he considers himself an Arab or a Muslim, so the feeling is mutual. They don’t see him as an equal and neither does he, but they understand that him having the passport is good for their country and he understands that Emirati passport opens new doors. Win win.
That's almost anywhere. We have gotten temp residencies ourseld of our home country also and it doesn't matter WHAT the 2nd, 3rd, 12th country it is, we would always be outsiders. It's too bad, but it IS.
I am pretty sure he is just OK with his ZERO % tax rate
The only thing I have in common with Kevin O'Leary is that we were both born (and I was raised) in Montreal Canada. 23 years ago, I got citizenship in the USA though my career. At the time that was great, now not so sure. Also I'm the working class and Mr. O'Leary is the super rich class! LOL.
Whats the point here ?! He is rich , you ? What are you waiting for to get rich also . Dont blame him for being succeful please .. dont
He became UAE citizen because he could afford to pay for it. Very few of us do.
and most important he is a temporary endorser for them
the UAE learnt from the west! Now look at the mess the west is in with a country full of freeloaders and NO talent
Work harder then... it is on you, right?
UAE doesn't give you citizenship unless you're rich rich. Like VIP rich. Working harder won't necessarily gain you that level of wealth lol.
rich is not enough must be a special kind of rich...
Thanks for info!
Our pleasure!
Moral of a story! Money talks anywhere in the world ‼️👀
Partially yes, but UAE encourage people with money to live there because they offer something that most developed countries doesn't.
Great video! Thank you.
Thanks for watching!
Kevin held up an Emirates ID to the camera. That's not UAE citizenship, its just residency, which isn't that costly or difficult to get to be honest. Show me his UAE passport 😉
He has it, he just doesn't show it off
@sonny8085 Kevin knows the difference between a residence permit and citizenship.
@@tecumseh4095 So why is he not showing off his new passport then?
@@sonny8085 Cause he doesn't have to prove sthg to anyone?
You can't tell from that video, presumably the UAE has a national ID card as many countries do, maybe it's one of those.
I remember when Bobby Fischer obtained citizenship in Iceland before he died. He received it by parliamentary proclamation.
He's not a US citizen, there was a big stink about it during the Canadian elections years ago when he started criticizing Ignatieff for being an American, so he was forced to explain that he only had a green card via EB-1, which he gave up because of the tax headache. Ever since he's been on O-1.
Being a Green Card holder is the best status you can have with the United States. You're effectively a citizen. Have access to the entire job market except for defence positions, obviously. But you can exit this status very easy, unlike renunciation.
Most people, especially if they've got another western passport, don't need the US one for ease of travel.
@@alexvig2369 Disagree on that one, because you can't be non-resident for tax purposes and it's quite an easy status to lose. My nephew was an LPR and someone at the union where he used to work registered him to vote without his permission, they faked his signature, and that caused him an enormous problem. It's very easy to get into legal problems if you've got a green card. If you're going to be living in the US, the tax problems are a non-issue, if you're an LPR, you HAVE to live in the US.
@@steven-k. your nephew's story is the stupidest reason ever to be afraid of becoming an LPR.
All I'm saying is that if you were not born in America and somehow got to have a green card, you should probably not go through with naturalization and just remain an LPR for tax purposes.
@@alexvig2369 well, he didn't think so, he nearly got deported. It's pretty common for people who've been convicted of relatively minor drug offenses for example to be put into removal proceedings. If you're actually living in the US, then the tax situation is the same, and like I said, an LPR can't be non-resident for tax purposes which is probably why Kevin O'Leary gave it up. The tax issues for non-resident US citizens are overblown for a number of reasons, but the main one is that renouncing doesn't remove the IRS from your life. You have to file a 1040NR and an 8854 for ten years afterwards and passive US income is subject to non-resident alien tax, which is often higher than what you would pay as a US citizen, because it's a 30% flat tax, although a lot of countries have a tax treaty that reduces it to 15% (but not the ones with no income taxes). To avoid significant US taxes, you also have to liquidate your US investments, and that typically doesn't make sense given that investments in US dollars are usually the most lucrative. Yes, you can invest in US investments as a foreigner, but there's no tax advantage to renouncing US citizenship because of the NRA tax.
You're not effectively a citizen. You have residency status and this comes with different rights. But I do agree that unless you want to immigrate to the states don't get the passport. It locks you in.
Follow what the rich do and you generally become rich
I'm following Briben and Pelosi. I'm golden.
I think it's hard to get any gulf state citizenship you can get special VIP visa(High capital investors), but citizen is very hard
Believe me, he's got it! I've seen it
he was FTX promoter, why he not in jail? he is not ftx man?
Maybe that is why he got an Emirati citizenship
It’s disgraceful how countries like UAE and Saudi give citizenships to these rich people who don’t even need it while millions of those who born lived studied worked married in these two countries don’t even get permanent residency let alone citizenship.
True
They are smart. Why would they give to poor and uneduated like Canada? Look whats happening to Canada
Very true
They should at least give it Muslims
@@harrisn3693 Lol why? To Pakistanis? They will corrupt the country to the core, UAE people are smart by not giving to random losers
Kevin charges $1,200 for promotional videos on cameo where he is willing to say your his personal friend and that he loves your product.
Where can I look more on this??
@@meetimian3383on cameo probably
USA, Mexico, and I’m currently finishing my Spain citizenship. I’m also adding Australia and Grenada later on.
That's impressive! Have you had a chance to check out the video where we discuss the trifecta method? It might be an interesting addition to your multi-country journey: ruclips.net/video/S-Uz82bpSNM/видео.html
How are you getting oz one?
You love being taxed all around d the world don't you.
Thanks Andrew!!
Adriana Lima's ex-husband was Serbian.
I didn't know that was a possibility.
I wish I had $300 million. I'd become a citizen of several countries also.
Wow is he really down to 300 million? Some investor, he was bragging 10 years ago he's the only dude in Shark Tank with a B, as in billionaire.
Was Kevin O Leary got involved in promoting SBF and FTX some time ago? Just wonder if he is going to promote the UAE, too? It could be outstanding.
He looks like a crook
Owner of Dyson got Singapore PR by investing not sure Citizenship though , he was also allowed to purchase a a house which only citizens can purchase
By endorsing frauds?
Former australian olympic swimmer stephanie rice recently moved to the UAE.
I could think of better places to get residency as that particular location is only about showing off status and wealth.
In reality that small nation is not all glitz and glamour but the other sides are rarely shown to maintain a false representation.
Nice
CDN here...what about my adopted children? do they qualify for my UK Citizenship due to my father being born there?
ty
It would be cool to hang out with Adriana Lima indeed 🤣
Curious to know upon death, as I had a recent death in family, what’s put under “Citizenship” on death certificate?
Are all passports listed?
…Or only place of birth? Thank you
British Overseas Territory Citizens of Bermuda who also have Bermudian status have the same level of visa free access to the USA as Canada. I suspect that you can thank Hamilton for that particular special relationship. No, not the city.
As a visitor they do, but they don't have the same situation with other categories, some of which they need visas for (i.e. a counterfoil in the passport) and TN-1 for example is only for Canadians. In British law they're called: "Belongers of Bermuda." I think other British territories had a similar arrangement, but since they became independent, they've needed visas. Belongers of the BVI for example can visit the USVI visa-free.
@@steven-k. BVI, Turks & Caicos, and Cayman Islands BOTC's access is not the same 180 days as Canadians and Bermudians. They also require a pre-clearance like other Visa Waiver Program participants. The Bermudians which is separate from even belonger status -Bermuda is the only one of the BOT's with 3 tiers of status the way I understand it, are eligible like Canadians to enter the US for a visit without preclearance. BOTC's of Bermuda who do not have Bermudian status -which is a possibility, have to apply for a visa to the US. There are Bermudians, then there are naturalized BOTC's of Bermuda who are belongers, but not Bermudians, then there are natural born BOTC's of Bermuda who are not belongers necessarily unless their parent's are Bermudians in which case they are not only belongers, but likely Bermudians. Then there are Permanent Resident's who are Commonwealth Citizens who if they have been in Bermuda since the 1980s may be Bermudians and are belongers, then there are Permanent Residents who are not commonwealth citizens who are potentially eligible to become belongers if they naturalize. Then there are people who might be eligible to become Permanent Residents who have a path to becoming belongers, but not Bermudians. Then there are residents with no path to permanent residency. Having actual Bermudian status which is a separate category and not merely belonger status is required for the special access to the US enjoyed by Bermudians. Unless you are married to a Bermudian or have been in Bermuda as a resident since the 1980s I do not believe there is a path to Bermudian status, but there may be a path to belonger status. It is a weird place in terms of how it's "citizenship" and nationality works. You may be a Bermuda citizen, but never become a national entitled to vote.
As for TN visa access Mexican and Canadian citizens are both eligible for those visas under the NAFTA replacement treaty that creates a special business visitor visa category for all 3 countries under the free trade agreement.
Kevin O'Leary? Now there's a classy guy! 🤣
Doesn't Monaco also offer the same l? Ps does Canada allow citizens to renounce?
I used to hope that Kevin would be Canada’s Prime Minister; that was before he allegedly killed a dude with his ski boat while intoxicated. Then he switched seats with his wife and let her take the wrap.
FTX and his support of SBFraud say it all about his ethics. Is he still vocalising his support...
Did it help that he promoted (with payment) the largest ponzi crypto scheme in hx… and never apologized for those he helped ruin?
They just want him to move his watch collection there 😀
All he has been given is a golden visa which gives him 10 year UAE residency. Plenty of successful CEOs and investors have been invited for such golden visa. It’s not a UAE citizenship or passport.
Not correct. Most people just have UAE residency. Kevin got UAE citizenship and a UAE passport!
Yes He 100% got UAE Citizenship, not a 10 year visa! Stop misleading people
for the avarage person its impossible to become emirati citizenship even you have money
But you can still work there
He should apply for Somali citizenship, lots of oil andgas found there and natural resources and its part of the East African Community and its a frontier rebuilding country 😀
Can you do a show on Bitcoin crypto friendly countries? Thank you
😎I retired young and rich travel around the world to make videos. A UAE citizenship would be great.
I’ve been waiting for this video.
Mr. Kevin O’Leary must have got it by citizenship by exception.
Comment on Steve Wozniak becoming Serbian citizen and got Passport.😊
When is the USA to withdraw Second passports
Canada, Ireland , UAE beautiful!
And with triple loyalty still thinks he is a candidate to become Canadian Prime Minister. You can't, "go where you are treated best" and still expect to hold political office. You can't be both an individualist and collectivist-choose.
@@normangoldstuck8107Why can't you be both an individualist and a collectivist?
@@thaidise8842 Oxymoron anyone?
Ireland is woke Andrew!
Ah Sam Bankman Fried's buddy.
Trash human.
My passport/citizenship trio: Argentina, USA, Spain. In that order. I can live in 3 continents.
I have a Canadian passport..how can i work in the US?
Kevin is playing a Billionaire on TV, he likes the spotlight. Looking at his past business dealings, not somebody I would do serious business with. Kevin's involvement in the FTX scandal is just the icing on the cake.
Kevin has the aura of a sleazy car salesman.
Not sure this type of content is really beneficial for NC.
Worse than discussing controversial figures like Nigel "Mr Brexit" Farage, YT "self help guru" Tai Lopez or even accused sex trafficker Andrew "I love raping you" Tate tho?? Have you followed this channel in the past at all?? Anything and everything is used here as a springboard for discussion and to get people talking about going abroad even if the subjects are often considered questionable people
UAE residency and citizenship hardly have much difference in living and working options if you're an expat. Meaning you're not Arab. So it's not that beneficial. You can still benefit from all the investments and businesses as a golden visa holder.
Also, UAE has been quite the label whore in recent years. They have been throwing around golden visas like graffiti on parade day to any celeb they can get their hands on. They are just trying to bring attention to their country for business.
But these countries / states are getting advice from british and other european “experts”. So now they are monetizing the granting of citizenships and or importing assets. Good for them.
This applies to many many aspects of life in UAE.
I remember a few years ago when that silver haired criminal whose first name begins with 'C' was meeting with the big boy almost every month ''telling him what to do'' and now everyone there is suffering from the new 'around the houses' taxation.
They don't need it at all, but they were forced to initiate and introduce taxes by the corrupt west.
'Because if you don't play by our rules, than you will not eat with us at the top table'..
@@Man_from_UNCLE Is saudi still wealthy or have been emptied?
0:01 Money 🤑💰
USA Green card holders are treated the same way for tax purposes as citizens meaning you will get taxed on your world wide income
being a UAE citizen has its advantages, but it isn't really a low tax country. while it's true there are no income or property taxes there, they have high local taxes and VAT taxes. the no income taxes in UAE won't help you much if you're also an American citizen, because you will still have to pay American income taxes.
Khalil al-Liriya, welcome to UAE!
😂
Emirati citizen is impossible unless given by royal family
Kevin has only mad bad decisions but saved by his ‘star’ power and marketing. FTX and Mattel that he almost took under in buisness is questionable
And then one day, we all die!
With money. He did it with money.
There is no such thing as Australian citizenship anymore, only an Australian "license", which can be taken away any any point by a secret star chamber.
You are absolutely Wrong Bro
He needs to be in JAIL!!
FTX: NEVER FORGET !!
Kevin O'Leary shouldn't be able to skirt paying taxes like that. It's time for Canada to institute income tax by citizenship, just like US and Eritrea. Maybe I can forward this video to the illustrious Justin (Trudeau, not Bieber the other famous Canadian).
For anyone reading this, no I do not believe 1 word of what's said above. Good for Kevin.
It doesn’t concern I wouldn’t take their citizenship 😢😢
He should be in jail with his involvement with FTX!
why would you give up your u.s. citizenship?
ruclips.net/video/UYjooV1eadw/видео.html
Who copied from you
This will please all the people who lost their life savings in FTX
in short, money
Adriana Lima used to be married to a Serbian pro basketball player so that’s why she got citizenship there, at least it’s been widely reported she did receive it.
Abu Dhabi is the place to be.
It truly is! Have you already read our article about UAE Residence by Investment? nomadcapitalist.com/global-citizen/second-passport/uae-residence-by-investment-ultimate-guide/
I thought you couldn’t become an smart citizen if you’re not from there !
Good for celebrities & billionaires
This isn't unsurprising as many grifters and criminals are relocating there recently.
They dont wanna pay taxes.
Kevin has Lebanese heritage too. He said that on TV during one interview.
Ireland has one of the best passports, but neither the best, neither by itself. France, Germany, Finland, Italy, Spain and Sweden have more powerful passports than Ireland, and as powerful you have Austria, Denmark, Luxembourg and The Netherlands.
I think his point is ... Irish passport is good to travel both EU and UK (brexit remember?). And lower tax then those nations you mentioned.
I don’t want UAE passport if they give me
Kevin really knows how to hide after FTX.
These criminals are trying to build passport( travel documents)portfolios because they know their crimes and are preparing themselves to seek refuge in case of charges and arrest warrants. No matter their bank accounts these criminals should be extradited to face charges In the jurisdiction where the crime was committed…
Can't believe you've excluded Lebanon. Where else could you escape in a music box and get away with it
Aren’t you suppose to give up citizenship to be a UAE citizenship and live there full time?
Amazing women’s rights in the UAE. I’ve been told awesome.
Nice try!.. He is not a woman!
@@Patrick-pv9pe thanks for making my point
Why does he always do the illuminati hand sign?
He just paid for it. It’s that simple
🤔… backup plan incase he gets indicted on the FTX scandal
the people of Dubai don't really like the Flintstones but, the people of Abu Dhabi do.
i thought the UAE doesnt support multi citizenship?!
Guess your thinking is very small n limited 😂
@@ariy7712 do a google search dork then you will know why i said it
Oh shit. They updated it couple month ago
UAE passport can be taken away as quick as it was given.upset any royal and you are gone.but maybe not for American
hmmmm Kevin is like a Poker player .... some sort of hidden agenda. The plot thickens!!!!!
Great to get him out of the US, can you get Trump out too??
How Kevin got his UAE citizenship....he's a billionaire. The end.
Um no many people are getting it, aslong as they offer benefit to the country. Unlike Canada where we give money to refugees
@@Deira854 I was being tongue in cheek. That being said, if you don’t think it was easier for a famous billionaire to get citizenship (or golden visa) versus a normal person, you’re being naive. Agreed on the bad policies Western nations are implementing.
Am absolutely, Not interested in that country 😮
Its easy take citizen ship in UEA 😂 if you have 110k. If you investment in UAE, you can be a citizen 😂
110k is nothing for rich people.
Talk about Kuwaiti citizenship. That's the hardest to get.
Why would he talk about Kuwait when UAE steals the limelight..
@@ariy7712 Be more informed, they citizenship comes with a lot of perks and their currency is the strongest on earth.
@clouds2593 the strongest currency does mean the greatest country! Go to Oman then.. lol. UAE wins all the way..
That part of the world doesn't let in Islamic refugees in.
So your country lets them in??
Kevin doesn't know the difference between citizenship and passport in the UAE and other gulf countries. He was given a UAE passport. He'll never be a citizen of UAE because they have a different system than other countries. To be a true UAE citizen, he needs a family book that other emiratis have. It's not like USA or Canada where Passport = Citizenship.
Bro do you even know what a passport is? Passport is a proof of citizenship. You can be citizen and not have a passport but in order to get a passport you must be a citizen.
As a UAE citizen. Having the UAE passport officially makes you a citizen. The family book is just a document that grants you some extra benefits from the government in terms of housing and the job market. Which I don't think Kevin needs.
@@TheCandyPixelhow did you got uae citizenship?
Born Emirati@@itz_SahilAhmad
@@TheCandyPixel i agree with that but some ppl dont regard it as true citizenship because they dont give you full rights as the locals. So it is a citizenship but without subsidized electricity, free healthcare and higher education, or any other benefit that "locals" would have. Are you really an emirati if you only have a UAE passport but not a family book? I guess i should've said emirati citizen.
I doubt he has citizenship. He simply has a permit. No way the UAE Royals give him a passport.
@kayodemodupeojo Do you honestly believe Kevin doesn’t know the difference between a residence permit and citizenship???
@tecumseh4095 he showed a residence permit card on his news interview NOT a passport
@@kayodemodupeojo A passport is not the only proof of citizenship. He showed his Emirates ID card. Emirates ID is the UAE Government-issued identity card for the UAE’s citizens and residents.
The Emirates ID is used:
1. to get government services
2. to vote in the elections of Federal National Council
3. as a travel document for UAE citizens to travel within the GCC
4. as a document to pass immigration through the eGates and smart gates at several airports in the UAE.
@tecumseh4095 I am aware of what the Emirates ID is. I am saying him showing it doesn't mean he is a citizen. A resident is a totally different matter. I highly doubt he has citizenship
@@kayodemodupeojo Goddamn dude! He is an educated man, HE KNOWS the difference between an Emirati citizenship and a residence permit! You saying he needs to wave a passport, a travel document around to prove he is a citizen is beyond absurd. I am an American Citizen and I do not have a passport. Should I apply for a travel document to prove that I am an American citizen?
Whats the point if they can change the tax laws instantly and you put so much effort becoming a citizen there lol