Why I Love Having a “Bad” Passport
HTML-код
- Опубликовано: 2 июн 2024
- Become a Client: nomadcapitalist.com/apply/
Get our free Weekly Rundown newsletter and be the first to hear about breaking news and offers: nomadcapitalist.com/email
Get on the waiting list and join us for the next Nomad Capitalist Live:
bit.ly/3TE0iPm
Join us on a journey of discovery as we delve into the fascinating world of passports and global citizenship. In this video, we explore why having a so-called "crappy" passport might not be such a setback after all. From debunking myths surrounding Western passports to revealing the benefits of a diverse passport portfolio, we uncover the truth about passport power and how it can shape your freedom and opportunities in an ever-changing world.
00:00 Start
00:25 Misconceptions about Western Passports
2:16 How Passport Landscape is Equalizing
4:10 Benefits of Multiple Passports
6:28 Case for Neutrality in Passports
8:50 Impact of Changing Geopolitical Dynamics
10:37 Are there Limitations while Traveling
13:38 Importance of Planning
Nomad Capitalist is the world's most sought-after expert on legal offshore tax planning, dual citizenship, and international asset protection. We work exclusively with seven- and eight-figure entrepreneurs and investors who want to "go where you're treated best."
Nomad Capitalist has served as the “architect” and “general contractor” for 1,500+ clients who wanted one company to manage their holistic plans. We help these clients keep more of their wealth, increase their personal freedom, and protect their families and wealth against current and future threats at home.
Our in-house team of researchers, strategists, and executioners know more about these strategies than just about anyone. We’ve also spent more than a decade building a trusted network of attorneys, accountants, real estate agents, and others to assist our clients. As a result, our approach is not only holistic, but agnostic; we offer our clients advice on and options in 90+ countries, more than any other firm by far.
If you’re looking to diversify internationally, whether for lower taxes or as a “Plan B”, trust the industry pioneers at Nomad Capitalist and our experience serving the needs of globally-minded entrepreneurs and investors.
Become Our Client: nomadcapitalist.com/apply/
Our Website: www.nomadcapitalist.com/
About Our Company: nomadcapitalist.com/about/
Buy Mr. Henderson’s Book: nomadcapitalist.com/book/
DISCLAIMER: The information in this video should not be considered tax, financial, investment, or any kind of professional advice. Only a professional diagnosis of your specific situation can determine which strategies are appropriate for your needs. Nomad Capitalist can and does not provide advice unless/until engaged by you.
Actually if you have money it doesn't matter what passport you have. If you don't have money then any passport is useless
Second point I guess is true. First point, there are hundreds of videos on this channel proving otherwise :)
The first point is disproved by many travelers I know. Different clients than NC.
Your right if u have money
I know plenty of upper middle class people who can't travel to western countries without a visa and it gets denied at times.
😂
you are overlooking the discrimination that people from bad passport countries face at airports...
oh no not the discrimination! OHHH THE HUMANITY!
@@jr-km2rd Not discrimination like someone's mean to you, discrimination like being stuck at customs for 5 hours and being strip searched. It's really a shitty thing.
@@jr-km2rdI can tell you genuinely have no clue what they’re talking about. If you faced the stuff that others with weak passports have been through then you’ll know. My grandma was never able to visit my uncles home because she was never granted visa. She passed away a few years ago and never got to see my uncles place. Don’t critique on stuff you don’t have context in.
It’s not discrimination it’s common sense of course I’m going to be more careful with people from Pakistan or Iraq than native Europeans get a grip mate
@@jimbell122 it's common... writing skills, mate
I am Italian.
And the biggest country I need a hard visa to visit is Algeria. Even Russia and China don’t require me a hard visa anymore.
hey that's my country the funny thing is us algerians it's hard for us to get visas especially to Europe
Bro I think I'm blessed cuz I have the Spanish visa but cuz my parents are Algerians I have the Algerian one too. So I can switch between those. (Although here the law says I can't use my Algerian passport if I'm Spanish citizen but they can't force me to burn my passport so I still have it).
I think we can agree that EU passport > any other passport, because not only are they the stronger ones, but albo allow you to travel around EU without passport, live and work there without any permits or visas, insurance around EU, and give you benefits at the airports such as much faster, automatic passport control when it’s needed, so basically you can travel around the whole continent as if it was your county, due to this fact. Borders don’t even have controls, and most of the times they are invisible and not marked in any way, so you don’t even realize when you’re crossing the border, so I’d rather have EU passport, then any other passport.
I mean if you live in eu then yeah if you don't then you use the regular gates same as the rest of us
Very true. I have both, US and Polish passport. If not these stupid laws requiring you to use US passport all around the world and needing a stamp in the passport to use international driving permit, I would use my Polish passport in Europe anytime over the US one! I always feel like I'm being judged as a complete moron when going over passport control yet anyone on European passport go through the automated gates, not seeing anyone. Honestly, there's a reason why the US is called "the biggest third world country in the world"... The moment I step my foot on the Chicago O'Hare airport I feel like i went back in time at least 30 years.
I'm from South America, I see some differences between passports. In some coutries the controls in airports are more strict for people of my area, I heard stories even of discrimination. Some banks do more investigation about our income because they think we are doing some illegal stuff lol. After those entry controls, they don't care about your life.
Which country are u from?
Afro zone ⬆️
depend on which country you are..
If I ever get a Cuban passport I wouldn't travel with it, by then my kids will probably have a Cuban and Vietnamese passport but I'll only let them travel with the Dutch passport.
the US really do not like to import more cocain for the comsumption of the citizens because they are not able to tax the cocaine themselve.
I have Irish, US citizenship and now that I have a Chilean wife I'm going to get Chilean citizenship
Something else you can do if you can gift your children citizenship by birth if your kids are born in another country. Some countries grant citizenship by birth. I am from the United States. My wife is from Peru, and our kids will be born in a third country so they can have three different citizenships.
You’ll have the triple threat. USMCA, Mercosur, EU
You're blessed
I only have British and US and I'm so jealous after Brexit. I reckon that the combination of UK and EU living/working rights on top of the other things like visa free travel rights in various countries makes Irish Citizenship the actual best in the world.
@adhillA97 it's definitely a huge benefit, right now I'm working in the US however I'm planning to move to Galicia in Spain within the next 5 years as I'm 27 and want to be able to have more free time instead of having to work so much plus I find the healthcare costs are way too expensive here
I've a French passport and got the Congolese (Republic of Congo, not DRC) by descent in order to make businesses in CEMAC aera
I will do the same as I have a Portuguese passport and I’m eligible for a Central African passport 🇸🇹
I am Happy for you, african investors shoud invest in africa or in Congo in your case, if Africa and its people are more wealthy , everyone wins in the world. I give you my best wishes for your future bussiness in Congo.
@@rendallsofia1194 You put the flag of Sao Tome 😁
@@EK-hj5de its in central Africa
@@rendallsofia1194 i though you spoke about Centrafricain Republic 😂. Sure it's in Central Africa 😉
You have talked about Passports for a Long time... Can you create a Video about the Nationalities of your Clients... Like a Reverse Analysis... A video about Demographics that change or take 2nd Citizenship the most
I have a US passport and I have very ease in traveling and movement anywhere in the world. I used to have a different passport, and that one limits me as to my movement. Don’t give up your US passport it gives you a lot of privileges. ❤❤❤
But, the US passport does not give me visa free traval to fascist countries that I sell weapons to.
Yeah I wish I had a US passport!
Including the "privilege" of being subject to taxation EVERYWHERE in the world?
The US passport is becoming less and less attractive by the year... and I love the US.
@@8d4o0c4 At least as an American citizen you have your entire country, which is the size of a small planet and very geographically diverse. On top of that, with your passport you can travel to Mexico and Canada any moment you want. All of North America is yours. What else do you want? As a Mexican citizen, I need visa for the United States and Canada as well.
Anywhere in the world? north Korea is waving
Bad passport? 😂 try an Afghan passport
That's a great passport if you want to have fun arriving into JFK
@@jasoncentore1830 for sure, TSA will escort you to a private business lounge for some questioning 🤣
@@K55365 questioning?? I worked at the airport they get the "full" treatment I'm talking clothes off. I've seen an 80+ year old in wheelchair w Diaper they put her in a little room and actually took her diaper off I can't wait for Afghanistan to go through we're talking arriving first day in state prison style 💯
I have another reason for being a "Passport Bro" that many people don't think about. I am a Digital Nomad, of course, but I am at the stage in my life when my duty to care for my aging mother is starting to kick in. Young men become "Passport Bros" for romantic reasons, and for finding someone to build a life with. Others take this route in order to build their dream business and not have it snuffed out at birth by an over-weening State. I have done both but now the reason I referred to above is kicking in. My mother is in a country with a crumbling health service, and there is no way I would consign her to rotting in some "care home" where the underpaid and over-stressed "carers" couldn't care less about her. I live in a country where her health insurance costs less than her annual local government tax. We have already chosen a lovely, kind nurse for her, whom she has come to know. We have all the pieces in place to move her to a place where she will be treated best ... far better than in the dystopian hell-hole that the "West" has become.
"all the pieces in place to move her to a place where she will be treated best..." Can you disclose in which country that place is located?
@@isaakwalton4610 of course he doesn't. the US has top notch senior living communities.. don't know what he's talking about.
@@isaakwalton4610 Thailand
If you think the US has "top notch senior living communities" across the board, you are delusional.
I worked in some US facilities during my medical school training and well over half of them were absolute hell holes.
Are there terrific ones? Sure. Are they available to the rank and file US resident? Hell, no.
The best passports are not necessarily western but rather economically and socially stable countries like Japan Singapore. Taiwan, and many more. Most definitely not problematic Islamic countries like Syria, Afghanistan, Pakistan and Indonesia, all of them are black listed
And definitely not problematic Christian countries like US (taxed everywhere), Argentina (cannot renounce), Russia and other Balkan countries
Definotely not problematic countries with authoritarians sums it up
Indonesia?
@@timmy9627US doesn’t tax everywhere
Japan is not stable country though
Having bag or good passport is not just about travel, it is about your country that is more likely to try and get you out of trouble somewhere abroad. Something tells me that a citizen of El Salvador that got in trouble in Thailand would less likely to get any help from their country than a citizen of the US.
Andrew I never heard you talk about the Isle of Man can you please share your take?
Hold a passport of Afghanistan, and you will realize what it means to have a bad passport
wish there was a channel like this but for reviewing options for non-western folks looking to build capital for future wealth-building 😂
My problem is the other way round - I've got a boring weak ass "crappy" Asian passport so no access to high paying jobs or business opps. 😢
Educate yourself, real education is a good wealth
I have an Italian and Brazilian passport. Used to think my Brazilian passport was kinda useless but looking at how things are going, I'm happy I have it
the BRICS will change many things also for middle eastern passports like Saudi , UAE and also in the process Bahrain and Kuwait and Oman and Jordan !!!! no more privilege for some countries
13:08 It's so hilarious!😂
The passport strength is about convivence, yes someone with money can get the visas they need, that takes time and effort vs just getting up and going.
I often travel to fascist countries, and the United States passport does not give me visa-free travel to rogue states like Russia, North Korea, and Iran, which are big customers in the arms business. The NATO war of aggression has slowed my access to these critical markets, and everyone knows the future is fascism; look at the Chinese market compared to the United States. It does not matter that the United States has a third of the global wealth and is the wealthiest consumer market in the world when there are so many poor countries aligned with China that will tax me less.
What are least expensive “bad passports” out there, that a small time entrepreneur can work towards, that isn’t granted by heredity/decent, for folks that aren’t multilingual out of the gate, and also do not have onerous residency requirements, for banking purposes?
Vanuatu
Panamá.
Foreigners are not getting naturalized in Panama, by all accounts.
If I get a resident passport in for example Argentina, does that mean I pay income tax in that country? I'm a retired American and I have to pay taxes there even though I don't live there. Would more passports just mean more countries to pay income taxes?
A passport is a citizenship. Citizenship isn’t tax residency (expect in the US). Tax residency is usually based off where you actually reside, for how long, how and where you make your income, and what you own in the country. Each county defines it differently, but its usually some combination of those. For people who aren’t US citizens, you can in theory be tax-resident nowhere (but you have to keep moving).
@@jesselloyd207 thank you.
Jesse is right. Most countries define tax resident by living more than 183 days a year in that country so if you live in 3 different countries side by side (say 120 days each), you are tax resident nowhere 😅
This is very interesting… I didn’t realize this was possible. Thank you
@ having multiple passports…. No I didnt Sir !!!
I am from Argentina and my last name is German. All my friends are European descents. Several have EU passports. How come we are not a Western country?
I got a Swiss and Brazilian passports. Should I be happy? 😅
Golden combo.
I would cry with happiness. and then I wouldn’t wake up because I wouldn’t know what else to want
You're on the right track.
I like the idea of "speakeasy passports"!
A USA passport gave me freedom and a chance to build my new life 45 years ago. I would not call it a bad passport, but you can have another if you want
you missed his point...and you even said it...45 years ago! times are not the same anymore
Usa 45 years ago was a dream ,now a nighrmare
Completely agree with you. USA is a great passport 45 years ago and today as well. If someone does not appreciate it by all meeans dont hesitate and relinquish your citizenship.
AMEN brother!
@@tylerhandley1787over 10 million migrants went to America since 2021. People die to go live in America
What about a Russian passport? I feel a lot of pain for that now, cause I haven't done anything wrong, but have problems because of citizenship.
I think if a friend chided me about visa-free travel to Equatorial New Guinea, I would have one less friend.
The EU is enacting laws to stop Caribbean CIP passport holders for visa free. So soon Caribbean ones will not have that that benefit. What do you say to that?
I carry a Brazilian and an Italian passport. Should I invest in a third one?
Must be interesting for a former US citizen applying for a non-immigrant Visa and it shows Country of Birth, New York, USA.
I miss the "Nomad Dad" vids. Hope he is keeping well!
He has his own channel now
That's great to hear! Bob Henderson, aka Nomad Dad, has his own channel now where he shares new videos every week. You can check it out using the following link: www.youtube.com/@NomadCapitalistDad ❤
I have a USA and Ecuadorian passport. I don’t need anything else passport related. I am happy
Mexican Nationals is the only nationality that can live in the UAE for 6 months with no visa. No other country can do that without a visa.
Damn, i want one rn
Bro México can go in and out EEUU with out visa
@@juanjoseponce8866 That wasn't my point. The UAE gives Mexicans and ONLY Mexicans 6 months entry to their country VISA FREE.
Albanian passport have also 6 months
@@reistos4400 That must be new.
Wise words. Any take on why China has given visa free entry to Spain and 3 other European countries for 1 year?
Malaysians get visa free entry to China too.
I believe they are low on money and they need tourist to spend money in china. Especially when they are heavily sanctioned by the west
Here's a video idea: countries that are gun friendly, like Czech, Switzerland and you could get a citizenship there.
europe is not obsessed with guns, for good reasons. switzerland has a lot of guns BUT they are also well regulated. it's a privilege, not a right.
Thanks for the suggestion, we have already covered it in this video: The Best Countries for Gun Owners
ruclips.net/video/hRieRcWPtNk/видео.html 😊
Authoritarian
A gun is useless in Switzerland except for hunting and it’s hard to get the nationality
Guns aren't the problem. You can have a gun, legal or illegal. Your problem will be ammo.
No
5 passports sound like a good idea until it’s time to renew all 5… I have 2 and it’s a pain in the ass. I can’t imagine 5.
Hello, which passports apart of the St Lucian one do you have? Unless it's a secret 😊
I hate my south African passport sometimes 😢
I love South Afrika, i need to go there.
It is never better, but easier said if you were born with a passport where you are treated respectfully by default.
Big example? wait until you qualify for a world championship and you cannot go because you do not know if "your visa will be issued or not" or because there are no appointments for a visa for 6 months and you have to plan your trip 2 years in advanced to be given a one month visa after all the hustle.
There's literally no downside to having a western passport (except USA where you have to file). There's also nothing wrong with getting more.
I can't believe there is no nomad capitalist merchandise..."Go where you are treated best"
don't encourage him
Agree to disagree. Imagine you have Russian passport right now. How you gonna travel with that?
If you're arrested abroad, good luck availing yourself of Kittitian consular services.
Well said my friend. Very well said.
The fatca or however it's called is like a burden for being an American.. I don't know if you mentioned that I didn't see the whole video.. Also I've an Italian and Argentinian passport.. Very few places are in which the Italian has and edge over the Argentinian one (mostly the US where you can avoid the visa by having a visa waiver but that's about it)
To be happy I do not need a passport.
People who don't travel anywhere (outside their native country) won't need one to be honest. People like me have to check on family outside my country (USA) so I need a passport to travel. I know some friends who have never left the US, so for them a passport was this new concept they have to study up on.
I wonder if this video will cure my 'Passport Inferiority Complex'
Do you recommend keeping pakistani passport?
I have a Libyan passport and only 10 countries are Visa free💀 Thank god anyways
How many passports does one need???
how about ancestry who had french citizenship?
What do you mean by western when you imply that Chile is not a western country but the UK is?
Not geographically, but rather "The Western Powers."
Generally speaking, these have been the US, Canada, UK, Oz, and NZ.
I have 🇮🇹 and 🇵🇱 passports, and it would be useful to have more!
Howso? I love all this stuff but I’ve started to become genuinely curious how much benefit you really get once you have certain key passports. I can understand wanting at least 1 EU Passport, and maybe 1 CARICOM Passport, but outside of maybe one from Australia, NZ, Canada or Japan, what’s even the upside to getting more passports? I mean why would that be better than just a residency permit?
@@hipreference I travel all the time, and the two I have are great passports, but they still won’t allow me to many places without visa.
Plus there are some specific examples: during covid Italians weren’t allowed to leave Europe, so I used the Polish passport
@@hipreference A big reason, I've heard Andrew say, is to permit one to flee to a safer area when the proverbial sheist hits the fan. In that scenario, many jurisdictions won't be issuing residency permits - especially not at a moment's notice...
Extradition laws, you can do something big and escape there, after a while your search disappears@@hipreference
One passport is a MAJOR issue.... they shut down your passport, you're done. The issue with multiple passports is the taxes.
I like what he is saying but I have a small story to inform people, not to be contrarian or something, just I really think it is important for everyone to be aware of. It's a response to "I don't necessarily want to be associated with what a country does" for neutrality in passports. Just so everyone knows: I am absolutely NOT dogging or mocking ANYONE in this story, it showed me I am quite in a position of privilege and don't agree with some of this video.
So just some context, I am an American (citizenship and passport). I was living in [the country of] Lebanon for couple of years. There, I had met MANY people with different passports (and citizenships). To name a few, Lebanese (obviously), Syrian, Ethiopian, Phillipines, and rarely Iraqi or Palestinian. My coworker was Syrian and possessed the Syrian passport. Lebanon currently has some laws as to what Syrians (people who hold Syrian passports) can do in Lebanon. Some things include (but not limited to) not being allowed to play the lottery in their name, or owning some kinds of property. So, one day his passport was going to expire, and he overstayed his visa for quite some time. If he (legally) crosses the border of Lebanon into Syria or go to the Syrian embassy in Lebanon, the Lebanese officials will throw him back into his home country of his passport (Syria, this fact will be important later) and/or Syrian officials will capture him and force him to attend compulsory military conscription. That is a requirement being a Syrian citizen that you must attend I don't know how long but sometime in your lifetime, and many people don't want to do it for many reasons. Regardless of pride or nationalism, my former Syrian coworker would like to have a different passport (become a citizen to another country) since it gives him, word for word verbatim: "a different kind of life". He wouldn't have to deal with this nonsense, that's DEEP!
So when the gentleman in the video says he doesn't want to be associated with what a country does and he gave examples of going around the world putting his money where HE wants because American Government (or any government) doesn't let Americans (US Passport holders) do certain investments, that makes me only assume in somewhat of an ignorant way that he has high-end salary clients or something. Because that example I gave of my Syrian coworker? A LOT of people have "bad" passports, and whether they like it or not they are TIED to that regime or country just as I am tied to any American government regardless if I agree/disagree with the politics. When my friends in Lebanon were concerned my Syrian coworker would be sent back to Syria, they said sent BACK to Syria not kicked OUT of Lebanon! Because governments return you to what country your passport is! If you have Saint Kitts and Nevis passport that's all fine and well, but again most people I know I'm talking down to the gritty nature of it the thick and thin, when they get sent back to their homeland the first thing would be doing is trying to get a job, use resources, do SOMETHING to build. If you're just this investor shoving money around collecting passports, then YEAH having a "bad" passport won't affect you, you aren't going to feel the thick and thin of all of it. As they say in Lebanon, "If I had millions of [US] dollars, I would live in ANYWHERE, Afghanistan, middle of Mongolia, and not give a fuck about anything or any problems". So it wouldn't matter to them if they had money, that's not the issue for most!
Why doesn't Jim Rogers give up his US passport. He talks smack about the US though.. 🙄
I believe he has a really good strategy for keeping it. A guy like him doesn't play silly...
@@buzuxiThe US is one of the only citizenship based tax regimes. Getting most of these other passports doesn’t mean you’re actually liable for tax in those jurisdictions unless you’re an actual tax resident there, i.e. Domiciled and living there for 180 days or more is the typical metric for that, although jurisdictions vary.
Highly doubt there’s any tax burden whatsoever for most of these extraneous passports, most of the world taxes based on “tax residency status” not citizenship status.
@razkrat Bruh, I believe Mr. Rogers is entitled to exercise his First Amendment rights.
@@buzuxi Many of the provisions of FATCA are clearly unconstitutional, or borderline unconstitutional. I've been waiting years for a cracker-jack atty to sue the government over FATCA. Trouble is, most of the attorneys that have the savvy to do so, don't want to bite the hand that feeds them...
I guess this is the kind of guy who knows how to reduce his taxes as much as possible. Some US states such as Delaware are pure legal tax havens. You can pay near 0% if you know how to structure your offshore US companies. And you can also keep capitalizing at 0% with absolutely no headache with a fund as long as you don't withdraw the money. He's a level above playing the passport game.
Well, the key is money.
If you have the money, you can easily get the visa despite having a Somali or an Iraqi passport which are the worst in the world.
It's all about your financial status.
And, there's nothing wrong if people want to immigrate (of course, legally) to the western countries and want to naturalise and get rich in future. Getting the citizenship of a developed country gives the intensive to work without any permit requirement or limit and that helps a person get rich.
So, this video has absolutely no relevance to 99% of the people on this planet. It's only for the top 1% who are super rich and have at least 7-figure high networth.
😇🙏
I want to get a Chinese passport
But it's the hardest one in the world according to what i heard
I still want it 😢
Insanity! I would not give up my USA passport for any amount of tax breaks. Go ahead and do it and be like Lee Harvey Oswald. Ridiculous idea.
Why would you want a passport for a country that has 1/3 of the global wealth and the richest consumer market in the world? Also, the country that funds 1/3 of all R&D spending globally which is the largest of all other nations; when can I get visa-free travel to Russia with another passport?
@@samuelcalkin3516 Because I would not deal with as you put it facist countries for money. Thats why.
@@AJV-nw4yr Everyone's passport strategy is different
what about a person who have an iraqi passport😢
Having a Turkish passport is not a good opportunity for schengen visa, we can"t book for any European country visa application date!!! They don't give us chance for apply for visa, we'll travel for touristic aim, stay a hotel, spent money but they don't want us😂If you want to have a thirth world country passport, good luck
My dad was born in Chile, I already have Chile passport thanks to him, waiting for Bitcoin to go the moon!!
Don’t wait, or you would be considered a tax resident even if you leave. 183-Day rule.
Just invest in etf
Alr maybe its okay
What is the one passport that gives you the best balance or neutrality
I'd never renounce my American passport but also having a Jamaican one is a privilege.
But, you will have to fill out a two page form every year with the IRS if you work overseas, so hard.
I gave up my American passport when it was stolen from a pushcart in New York. Currently don’t have a passport.
You don’t lose your citizenship when your passport is stolen. In the US you have to actively renounce it.
@@jeanpierreviergever1417 I predict an international digital passport for world citizens who are taxed a world tax. In California they are testing a digital drivers license. The days of renouncing citizenship for tax reasons may be short.
@@stephenwatson672 There is more to citizenship then paying tax.
@@jeanpierreviergever1417 jury duty
@@jeanpierreviergever1417 some things not talked about in these RUclips videos that’s simplified click bait for the most part is the legalities and potentially complications living and investing in foreign countries. All it really takes to get in a bind is an accusation. There’s also criminal activity like extortion. It’s not only knowing cultural norms but the laws, how finances in a particular country work, how business is conducted.
Panama passport as of today has visa-free acces to 150 countries, including Russia.
Yes, the future is Russia.
@samuelcalkin3516 Yes, some passports give you access to more countries, but others, while giving you access to less countries, give you access to more square miles. Russia is a HUGE country.
@@guillermogouldburn763 Russia is a vast country that is mostly empty, with most of the population being very poor, and to do business there you have to go through a corrupt network of oligarchs and bureaucrats who will F you over on a dime.
What is the criteria for becoming a Nomad capitalist client eg: is being a millionaire (high network ) mandatory, do you need to be an entrepreneur, can one maintain his real estate properties in the US after renouncing US citizenship ?
As Nomad Capitalist primarily caters to high net-worth individuals, the criteria for becoming a client typically involve having a pre-tax income exceeding US$500k. Entrepreneurship or business ownership is not a requirement, but many clients are involved in business activities.
@@nomadcapitalistthank you do responding.
I could only imagine what it must feel to have an !sra3li passport as your only passport... The most despised country in the whole wide world these days...
I'm Costa Rican (by birth), Spaniard (by descend), US citizen (prior military service) and these days I hide my US passport more and I'm now thinking it might be wise to replace my CRI and ESP passports so they don't have a city in the USA as the place of issuance, due to the genocide in Gaza perpetrated with US taxpayer money and bombs. (I'm proud to have made my tax bill for 2023 ZERO)
What’s the best passport or country to raise a family and need to think about school options?
@@buzuxiSingapore is not a place for families.
Russia is the place to raise kids
@@buzuxican't think of any Western kids that would thrive in the cut-throat competitive nature of Asian education.
@@shinachikudidnthappen..mov9196 Why not? Don't Singaporeans have kids too?
@@djzrobzombie2813 lol
U.K. passport were the best (for me)! but now it's f**king horrible since they've left the EU zone. I would rather have Danish, German or other EU passports.
As someone from an African country, this video makes me angry. It's a type of blind humble bragging.
He's telling you to get a second passport. If you want to do it, then do it. If not, moaning isn't going to change anything. Lots of Africans get second passports.
An African passport may be second passport for any diasporian born in the west
Would you give up a Ukrainian passport, or would you wait for the war to be over?
I've swiss and french pport; but I didn't prolonged my french-one anymore...after questionable speeches and actions of the YGL emperor...🥴🧐
In your case it's better to exchange that French passport for a Latin American one ;)
Is it not possible to add instead of exchanging? I will never give up a passport I already have (the only case would have been if I came for a country that does not permit dual citizenship)
@@innocento.1552Well if western countries start doing what America does i.e. tax their citizens abroad then I would seriously consider ditching my country’s citizenship.
@@user-zo2pc5lu5q Ask South Africans.
Peru doesn’t require you to renounce
yeahhh my great grandparents would roll over in their graves if I gave up my US passport
Early :)
if you get a Malaysian passport you have to give up the other ones - dual nationality isnt allowed. just sayin'
It’s so difficult to get.
You dont need to be citizen to have a country passport.
Yeah the US passport is problematic (if you don't leave there) due to its tax responsibility. But saying that a EU passport or one from an advanced Asian country is not very sought after, and beneficial is stupid. Try to do anything with a African or bad parts of South American or problematic Asia passport. Yes, the offshore countries that you sell passports from is a great option for many because as former European colonies their citizens get sympathetic treatments by European immigration. But you don't see europeans or Japanese or US citizens buying those.
Me an African passport holder watching this: 👁️👄👁️
Being taxed and not being able to move your money and all junk we at slaves to taxes
Worst passport US passport. You still need a visa to enter Australia 🇦🇺 and New Zealand 🇳🇿
No, you don't. It's just an electronic travel authority and it's instant. Australians needs it too for the US.
I have a Indian passport but looking for options
EU passports give you a ton of benefits. “Freedom of Movement” means you can live, work, retire, study, invest etc in any EU country, and idk if you have kids or grandkids but if you pass it on to them they can take advantage of the amazing Universities available for free or at reduced fees to EU students. That alone is worth the price of admission, especially if you can get Citizenship by Descent or find a relatively affordable and swift way to become naturalized.
No please don’t come to Europe . Go to Canada
@@hipreference switzerland is tax favourable in the EU
@@tacorevenge87 cannada is a high tax maybe a visit to smoke cannabis but not as a PR or citizenship
Please not EU. You won’t like it
I wish i could do something about with my russian passport. Any ideas besides burning?
Do not be foolish . That passport is very valuable outside the collective West .
A Passport is like a card. It can come handy when you least expect it.
@@ZzXZ636 i aint in bed with collective east either. Of course there may be fields are green but what if i dont like it?
@@Protogen-ly8hw Keep searching until you find a place that you can feel peace and find some joy in living there . No where is perfect . It can always be worse . Be grateful you are not in the US friend . I
Get another one? I mean if you become a citizen of Chile 🇨🇱 or Malta 🇲🇹 or Belize 🇧🇿 and you present that passport whenever you go anywhere then what’s the problem? You’re a dual citizen.
Me getting my Czech passport for if Australia goes to war with China 💀
the war with China is more western propaganda or a fear of another civilization which can challenge their supremacy.
"When I was a US citizen, I avoided going to the US." Yeah, I'm right there with you! I have to go back to the US in two days, and I'm not looking forward to it. $800/nt at the Sarasota Ritz, then I have to rent a car and drive everywhere. Dinners will be $100 a pop for mediocre food. Not to mention everyone is just in that American bubble and can only talk about a very limited number of subjects and places. I'm seriously looking into giving up my citizenship. As someone who is all about value, I don't see the value in living in the US or being a US citizen given the alternatives.
Exaggeration.
Great job
Argentina Passport 🇦🇷😍
and to think i have a peruvian passport XD
What about Singapore 🇸🇬 it's the best in the world 🌎!!!!!!
Umm... Why is everyone harassing Turkey? I mean, we can't go to EU but we CAN go to South America, Southeastern Asia and Central Asia much easier than a US citizen, especially to Middle East and Central Asia, US of A citizens have to get visas which are exceptionally hard for US, while we can just go by with just a passport. So if we aren't gonna go to Western Europe or Mexico (They just don't allow us on the border cuz they say "You guys may escape to US from Mexico!") our passport is relatively good.
Guatemalan passport = good...? 😅
The US passport will bring Marines and Special forces if you get taken hostage. Otherwise all your points are spot on.
Only to weak third world countries.
I like to have a Philippine passport, please
You may consider applying for the Philippines Investor Visa (SIRV), here is our blog about it: nomadcapitalist.com/global-citizen/second-passport/how-to-get-philippines-investor-visa-sirv/
"Money is dust. But earn enough the dust to say this" 😁
When you give up your passport what happens when you leave USA what does the next country do with you ? I'm afraid of USA I tried Mexico asylum went back to use can I get rid of my passport and go back to my homeland in Italy without getting jailed by USA since I was illegally framed by police I'm afraid I want to leave but Im afraid to get blocked by USA because I don't trust USA
JUST PERSIAN PASSPORT 👌
😂😂😂
Traitor
Another handicap
Exactly right. Your comment so true!