The Venezuelans I knew who survived the apocalypse were experienced engineers. When they were banned from working in their own country they found themselves in demand in countries all around the world. Not to minimize the difficulties, which in many cases were major, they were able to recover and go on to make good lives for themselves and their families. And the fact that most of them could at least read English obviously helped a lot. So, having skills that are in demand is a big factor.
And some of these so called providers have the audacity to come and say " Oh 150k is nothing for a passport " Haha and then they charge thousands of dollars for just 1 phone call. Ridiculous. I call it a scam and overcharging your customers
I agree with what you are saying. I have a New Zealand passport and can quite easily get a UK passport by descent. I don't like the UK or would ever likely visit or live there whatsoever. Do you think in consultation you could potentially lay out whether or not I should or shouldn't consider getting a UK passport as my secondary?
If you booked a consultation with me, prepare some really really strong points into why you shouldnt get a UK passport. I generally think if you can get a passport easily, there's no reason not to get it unless it's like US passport and you're making a bunch of money and want to avoid taxation (if you're making a bunch of money) and I guess some other extreme passports like Iran, Venezuela, North Korea, etc where you'd end up on a list. But otherwise, you can always get it and if it causes issues, you can renounce it.
People who are talking about people going out to get second passports, almost never are those people who are ever at risk of getting drafted. Not because they are rich (while that might be the case too), but because they are older and second passports take time. A "kid" who is at risk of being drafted is almost never in a position of being able to acquire a second passport during the window that it is applicable. And how often do second passports block being drafted? Never. One of the fears that people have in getting a second passport is the risk of being drafted by now TWO countries. jaja
I enjoy your videos and I mostly agree with you. That being said, I notice when you cover this particular topic, you leave out a very important aspect that absolutely has to be mentioned, if not covered in some detail. The situation for most expats or soon-to-be expats from the USA is very unique in the world. Along those lines, I would venture to guess that citizens of the USA make up the large majority of your audience. Why does this matter? Citizenship-based income taxation. Now, for a European from any European country, for example, who has a remote and potentially nomadic work situation, such as a programmer, designer, marketer or trader, that person can simply move to a Territorial-taxation country and work for foreign based clients or for oneself and virtually live tax free and build wealth up to the point where paying to have a 2nd citizenship makes sense. The key point is removing the tax burden in order to build wealth, which happens to be very easy for the above group of people as well as citizens of almost every country in the world - except the US and other minor examples, like Eritrea which don't have the teeth to badger their citizens all over the world for their take. Now, of course Americans would love love love to be able to do the same thing. But, unfortunately as you well know, it ain't that easy. In fact, in most cases, it's impossible above the maximum threshold for the foreign earned income credit, plus other contingiencies. So, Americans find themselves in a very different situation than most expats/would-be's, in that they still must pay income tax no matter where they live on earth. So, escaping the tax man to be able to excelerate wealth-building is mostly a pipe dream for the majority of Americans. 2nd citizenship, no matter the cost or headache involved in getting one is pretty much at the very top of the list of priorities along these lines. This applies to those Americans willing to renounce their citizenship in order to achieve freedom by ridding themselves of the long tax arm of "the land of the free," in order to acquire actual freedom instead of meaningless rhetoric. This does not apply to Americans who will hold their US citizenship, as for them 2nd passports are merely a novelty - something to brag about at parties. Just look at the statistics that show the low savings rates and low bank accounts of the vast majority of Americans. It's sad that the majority of Americans are living paycheck to paycheck. But, with a remote - applicable skillset and a 2nd passport, Americans have a chance to stop government from stealing from them when they don't live in the country. Citizenship through descent is the obvious first choice since it is the quickest and least costly of the available options. For those Americans not able to avail that opportunity, they're stuck with either Uncle Sam for life or with shelling out their meager savings to get a 2nd passport and renounce in order to build wealth without a monkey on their back. As an American myself, I feel you miss or skip over this snafu. Please integrate this into your content since it's a very real dynamic that affects the majority of your audience. But, yes, I agree that a German (for example) seeking 2nd citizenship doesn't need to consider it until the wealth is already built, if at all, since he can easily do so tax-free. And before you mention Puerto Rico, as an option for Americans, it's going to cost nearly as much to take advantage of that option as it would to simply shell out for citizenship of, say, Antigua or St. Lucia. And the Puerto Rico option has an expiry date, while also continuously making the option more expensive under pressure from the US Congress, unlike acquiring a 2nd citizenship. My analysis here is also not for the "working class" or anyone stuck in a 9-to-5 and with remote/nomadic skills they can exploit. For those people, they should focus on educating themselves to acquire remote skills first and foremost. Then they can begin the process of starting a business, including tax optimization and potentially 2nd residencies and citizenships.
@@skranz7790 I have 2 passports. They serve me well wherever I go. Don't worry about his acknowledgement of certain facts.In fairness, I don't think he has the experience to discuss the matter. Been to 96 countries and make my home in Asia now. The 2 passports have been a blessing. All the best.
There's a limit into how much I can discuss per video. Check out my other videos where I clearly state that if there's an ROI to be made by renouncing/getting a new citizenship then it's a fantastic idea. This video is inspired by the dozens of people who messaged me and other "influencers" who are making $40-50k/yr in income with a 30 year mortgage who think it's a good idea to use debt to get a second residency and eventually a second passport. Is it fair to say that these ppl need to make $$ first?
My comment covers those people when I mention that my comment doesn't apply to the "working class or those with a "9-to-5". But, that's not a group that is representative of your whole audience. If you were speaking only to them, then your video title should reflect that and it should be stated in the outset of the video. If you're content in this video was, instead, to your wider audience, then it's not necessary to make the whole video geared toward only that small audience segment. Instead, a video to the wider audience should critically mention what I suggested since most of your audience are Americans looking for some breathing room away from Uncle Sam's reach.
Yep. Having 2-3 units in a country is great. Will probably be enough to live a decent middle class life in any country in the world by just renting the other units.
The golden visa programs are meant for people with 5-10 million USD but for some reason end up being marketed towards the average joe who is angry at their country. Most people are better off getting residencies and trying to naturalize.
Not really - there's a lot of bs out there. I feel like the main thing is accepting that you will fail 100 times (no joke about 100 times) before you find something that works. Don't give up. On youtube, I like Becker (old videos) and Homozi (I dont watch them often but the few videos that I've watched, they had really good content)
@@NearShoreLiving - Really? because I think both of those guys are trash. Seems to me they spew out generic crap. I'm assuming you're a business man now? How did you start out?
@@anarki777 they have to appeal to a wide audience but out of all the generic stuff, they have the general framework. I feel like their general advice is "just go try things and fail a million times" No one will explain their business model in detail because...that's like the secret sauce. Also, no one making money is out creating courses, etc.
@@NearShoreLiving - Well, that's the problem I have with your advice. Go learn how to make a business. There's no way to learn to do that, other than trying and failing a bunch of times. Frankly speaking, that just doesn't seem like a very sensible course of action.
Honestly though, second citizenships do help a lot of poor Venezuelans and Argentinians because they use European citizenship by descent to go to Europe and make more money than at home lol. But I do get what you mean man, money is very important for getting having comfort and security in life
This is well said. I had a southafrican client who was drooling to have a peruvian passport, but not having enough money to settle the service that she owed me. So i suggest before having to deal with second citizenship or residency, make sure you have enough money first to take care of yourself and know what your purpose of having a second residency or citizenship. If it’s just for fashion, and prepping yourself up to have this dream travel to europe, but not even having enough money to put food on your table, stop day dreaming and just work hard and don’t be a slacker and dream that your second passport will put you in the level of the rich and jetsetters . Pathetic people.
Any vids/content/thoughts on crypto? Btw, just got my dual Mex/US citizenship. Don't plan on living in Mex. Have been toying around with the idea of moving to Spain for its fast track to citizenship. I'm not jazzed about Spain either lol but emotionally I'd like to have a Schengen passport. As I'm drawn to Scandinavia and Eastern Europe and that passport could give me MORE flexibility than my US passport. But I've heard Spain taxes are ridiculous, even if i don't live there. Any thoughts on that? I have very good passive income and can move around freely but hate giving my money away to a country (ie, Spain) in which i don't want to live simply to have a Schengen passport that could give me such easy access to the other countries i do want to go to. Its a pro/con question more than anything. Good stuff as always
Can you still get it if you were born in the US tho? I mean if it fits into your life plans, I would totally get a EU passport if possible (see how it works with your tax situation) but if convinient, I'd get it.
Terrible take. if your broke in the US, yes second passport may not be the highest priority with all the given opportunity, but if your broke in Cuba or Venezuela, migrating is probably the best life decision possible. It's completely relative.
I'm Moroccan doing a bachelor in China. At what point I was thinking abt moving to Argentina to work or do a master's and get the citizenship . After watching a bunch of your videos I realized how out of touch with reallity I was 😂. Money 1st
Don't hate the player hate the game, I don't understand why people are so mad just because someone else decided to create a company and offer services to people that can afford it lol. People who already have money clearly see the ROI on hiring services of any kind so they can invest their time and focus on what they do best. If you are broke and can't afford it, close the browser and you will be fine. If you see a program (residency or citizenship) that interests you because it can reduce your tax burden so you can grow your business faster by all means, do it, invest the time and money to access the program, and stop bitching about everything, that will bring you the biggest ROI. cheers
@@NearShoreLiving I’m not referring to you specifically, mostly people in the comment section. I personally think your message was good for the most part.
The other reasons why it's good to have a 2nd Passport > Reason #2: To avoid military conscription for war, Reason #3: To avoid restrictions on investment from your country, Reason #3: To escape potential WW3, genocide, civil war or religious persecution, Reason #4: To escape economic sanctions placed on your country or bad economy, Reason #5: To avoid being a human target for terrorists because your government supports their enemy who commits genocide or crimes against humanity!
When you come from a country that has visa free access to only 32 countries (most of them are 4th world countries) , getting a second passport become a human right!
For sure - That's always been my position. If you have a passport that has limited travel then yes, consider upgrading if possible, etc. Most of the audience here has first world passports tho
Yes, you're right! I had a friend from Ghana married to a Ukrainian, they moved to Canada because of the Ukrainian war, only reason he got a visa was because he was married to a Ukrainian. Now they want to travel to Europe, his wife and kid doesn't need a visa, he needs one and applied for a Romanian transit visa, he was denied, tried again and was denied. His wife and kid had to travel without him, it took him months to get another visa and this time it was a Hungarian Schengen transit visa, suffered so much that he saved up money and bought an Irish passport through another means. Having a good passport is like having Gold
@@Roccinante Your friend must be loaded! Irish citizenship by investment costs between 1 million and 500 thousand euros! If i had that kind of money i would have gotten a Caribbean passport for $100K or a Greek passport for 250k
You need a makeup artist, a hair dresser, a diction trainer - you talk way too fast, and a video editor, not to mention a photography specialist to pick video angles. Also, in this video you tell something self-explanatory. You need some work. Sources like your friends and that you promise also need some improvement. Other than that, it's a terrific video.
![Is Hong Kong a tax Haven? [Part 1]](http://i.ytimg.com/vi/qW7hiOcYC6s/mqdefault.jpg)
The Venezuelans I knew who survived the apocalypse were experienced engineers. When they were banned from working in their own country they found themselves in demand in countries all around the world. Not to minimize the difficulties, which in many cases were major, they were able to recover and go on to make good lives for themselves and their families. And the fact that most of them could at least read English obviously helped a lot. So, having skills that are in demand is a big factor.
Yep 10000%
I spent a few months living in Edmonton in Canada and that place was filled with Engineers from PDVSA.
And some of these so called providers have the audacity to come and say " Oh 150k is nothing for a passport " Haha and then they charge thousands of dollars for just 1 phone call. Ridiculous. I call it a scam and overcharging your customers
This is the message I needed to hear. 👏👏👏🙏
I agree with what you are saying. I have a New Zealand passport and can quite easily get a UK passport by descent. I don't like the UK or would ever likely visit or live there whatsoever. Do you think in consultation you could potentially lay out whether or not I should or shouldn't consider getting a UK passport as my secondary?
If you booked a consultation with me, prepare some really really strong points into why you shouldnt get a UK passport.
I generally think if you can get a passport easily, there's no reason not to get it unless it's like US passport and you're making a bunch of money and want to avoid taxation (if you're making a bunch of money) and I guess some other extreme passports like Iran, Venezuela, North Korea, etc where you'd end up on a list.
But otherwise, you can always get it and if it causes issues, you can renounce it.
thanks for sharing
You nailed it. Money first. Passport second.
How about if I’m in a country where it can’t get any more fucked and have got nothing to lose but to try?
People who are talking about people going out to get second passports, almost never are those people who are ever at risk of getting drafted. Not because they are rich (while that might be the case too), but because they are older and second passports take time. A "kid" who is at risk of being drafted is almost never in a position of being able to acquire a second passport during the window that it is applicable. And how often do second passports block being drafted? Never. One of the fears that people have in getting a second passport is the risk of being drafted by now TWO countries. jaja
I enjoy your videos and I mostly agree with you. That being said, I notice when you cover this particular topic, you leave out a very important aspect that absolutely has to be mentioned, if not covered in some detail. The situation for most expats or soon-to-be expats from the USA is very unique in the world. Along those lines, I would venture to guess that citizens of the USA make up the large majority of your audience.
Why does this matter? Citizenship-based income taxation. Now, for a European from any European country, for example, who has a remote and potentially nomadic work situation, such as a programmer, designer, marketer or trader, that person can simply move to a Territorial-taxation country and work for foreign based clients or for oneself and virtually live tax free and build wealth up to the point where paying to have a 2nd citizenship makes sense. The key point is removing the tax burden in order to build wealth, which happens to be very easy for the above group of people as well as citizens of almost every country in the world - except the US and other minor examples, like Eritrea which don't have the teeth to badger their citizens all over the world for their take.
Now, of course Americans would love love love to be able to do the same thing. But, unfortunately as you well know, it ain't that easy. In fact, in most cases, it's impossible above the maximum threshold for the foreign earned income credit, plus other contingiencies. So, Americans find themselves in a very different situation than most expats/would-be's, in that they still must pay income tax no matter where they live on earth. So, escaping the tax man to be able to excelerate wealth-building is mostly a pipe dream for the majority of Americans. 2nd citizenship, no matter the cost or headache involved in getting one is pretty much at the very top of the list of priorities along these lines. This applies to those Americans willing to renounce their citizenship in order to achieve freedom by ridding themselves of the long tax arm of "the land of the free," in order to acquire actual freedom instead of meaningless rhetoric. This does not apply to Americans who will hold their US citizenship, as for them 2nd passports are merely a novelty - something to brag about at parties.
Just look at the statistics that show the low savings rates and low bank accounts of the vast majority of Americans. It's sad that the majority of Americans are living paycheck to paycheck. But, with a remote - applicable skillset and a 2nd passport, Americans have a chance to stop government from stealing from them when they don't live in the country. Citizenship through descent is the obvious first choice since it is the quickest and least costly of the available options. For those Americans not able to avail that opportunity, they're stuck with either Uncle Sam for life or with shelling out their meager savings to get a 2nd passport and renounce in order to build wealth without a monkey on their back.
As an American myself, I feel you miss or skip over this snafu. Please integrate this into your content since it's a very real dynamic that affects the majority of your audience. But, yes, I agree that a German (for example) seeking 2nd citizenship doesn't need to consider it until the wealth is already built, if at all, since he can easily do so tax-free. And before you mention Puerto Rico, as an option for Americans, it's going to cost nearly as much to take advantage of that option as it would to simply shell out for citizenship of, say, Antigua or St. Lucia. And the Puerto Rico option has an expiry date, while also continuously making the option more expensive under pressure from the US Congress, unlike acquiring a 2nd citizenship.
My analysis here is also not for the "working class" or anyone stuck in a 9-to-5 and with remote/nomadic skills they can exploit. For those people, they should focus on educating themselves to acquire remote skills first and foremost. Then they can begin the process of starting a business, including tax optimization and potentially 2nd residencies and citizenships.
Well said!
@@Invictus888 Thank you. I just wish he would acknowledge this instead of pretending it's not a driving issue.
@@skranz7790 I have 2 passports. They serve me well wherever I go. Don't worry about his acknowledgement of certain facts.In fairness, I don't think he has the experience to discuss the matter. Been to 96 countries and make my home in Asia now. The 2 passports have been a blessing. All the best.
There's a limit into how much I can discuss per video. Check out my other videos where I clearly state that if there's an ROI to be made by renouncing/getting a new citizenship then it's a fantastic idea.
This video is inspired by the dozens of people who messaged me and other "influencers" who are making $40-50k/yr in income with a 30 year mortgage who think it's a good idea to use debt to get a second residency and eventually a second passport.
Is it fair to say that these ppl need to make $$ first?
My comment covers those people when I mention that my comment doesn't apply to the "working class or those with a "9-to-5". But, that's not a group that is representative of your whole audience. If you were speaking only to them, then your video title should reflect that and it should be stated in the outset of the video. If you're content in this video was, instead, to your wider audience, then it's not necessary to make the whole video geared toward only that small audience segment. Instead, a video to the wider audience should critically mention what I suggested since most of your audience are Americans looking for some breathing room away from Uncle Sam's reach.
You are right, just the passport doesn’t worth much, but a passport and one or two apartments in the country of passport could be viable.
Yep. Having 2-3 units in a country is great.
Will probably be enough to live a decent middle class life in any country in the world by just renting the other units.
The golden visa programs are meant for people with 5-10 million USD but for some reason end up being marketed towards the average joe who is angry at their country. Most people are better off getting residencies and trying to naturalize.
yes!🤗
Do you have any suggestions for resources to learn about how to start a business?
Not really - there's a lot of bs out there.
I feel like the main thing is accepting that you will fail 100 times (no joke about 100 times) before you find something that works.
Don't give up.
On youtube, I like Becker (old videos) and Homozi (I dont watch them often but the few videos that I've watched, they had really good content)
@@NearShoreLiving - Really? because I think both of those guys are trash. Seems to me they spew out generic crap. I'm assuming you're a business man now? How did you start out?
@@anarki777 they have to appeal to a wide audience but out of all the generic stuff, they have the general framework.
I feel like their general advice is "just go try things and fail a million times"
No one will explain their business model in detail because...that's like the secret sauce.
Also, no one making money is out creating courses, etc.
@@NearShoreLiving - Well, that's the problem I have with your advice. Go learn how to make a business. There's no way to learn to do that, other than trying and failing a bunch of times. Frankly speaking, that just doesn't seem like a very sensible course of action.
Honestly though, second citizenships do help a lot of poor Venezuelans and Argentinians because they use European citizenship by descent to go to Europe and make more money than at home lol. But I do get what you mean man, money is very important for getting having comfort and security in life
This is well said. I had a southafrican client who was drooling to have a peruvian passport, but not having enough money to settle the service that she owed me. So i suggest before having to deal with second citizenship or residency, make sure you have enough money first to take care of yourself and know what your purpose of having a second residency or citizenship. If it’s just for fashion, and prepping yourself up to have this dream travel to europe, but not even having enough money to put food on your table, stop day dreaming and just work hard and don’t be a slacker and dream that your second passport will put you in the level of the rich and jetsetters . Pathetic people.
Yep!
Waste your money with another influencer and buy a coffee mug from me 🥵 -> shop.nearshoreliving.com/products/the-official-nearshoreliving-coffee-mug
Any vids/content/thoughts on crypto?
Btw, just got my dual Mex/US citizenship. Don't plan on living in Mex. Have been toying around with the idea of moving to Spain for its fast track to citizenship. I'm not jazzed about Spain either lol but emotionally I'd like to have a Schengen passport. As I'm drawn to Scandinavia and Eastern Europe and that passport could give me MORE flexibility than my US passport. But I've heard Spain taxes are ridiculous, even if i don't live there. Any thoughts on that? I have very good passive income and can move around freely but hate giving my money away to a country (ie, Spain) in which i don't want to live simply to have a Schengen passport that could give me such easy access to the other countries i do want to go to. Its a pro/con question more than anything.
Good stuff as always
Can you still get it if you were born in the US tho?
I mean if it fits into your life plans, I would totally get a EU passport if possible (see how it works with your tax situation) but if convinient, I'd get it.
Spain only offers the fast track 2-year naturalization to people born in Latin American countries- not to people who naturalized there.
Terrible take. if your broke in the US, yes second passport may not be the highest priority with all the given opportunity, but if your broke in Cuba or Venezuela, migrating is probably the best life decision possible. It's completely relative.
Yes. I agree with that. Plenty of videos covering that
I'm Moroccan doing a bachelor in China. At what point I was thinking abt moving to Argentina to work or do a master's and get the citizenship . After watching a bunch of your videos I realized how out of touch with reallity I was 😂.
Money 1st
加油
If you have a second passport then you travel to the second country and build your life there.
Don't hate the player hate the game, I don't understand why people are so mad just because someone else decided to create a company and offer services to people that can afford it lol. People who already have money clearly see the ROI on hiring services of any kind so they can invest their time and focus on what they do best. If you are broke and can't afford it, close the browser and you will be fine. If you see a program (residency or citizenship) that interests you because it can reduce your tax burden so you can grow your business faster by all means, do it, invest the time and money to access the program, and stop bitching about everything, that will bring you the biggest ROI. cheers
I'm def not hating.
@@NearShoreLiving I’m not referring to you specifically, mostly people in the comment section. I personally think your message was good for the most part.
100/100
great advice. totally agree. just focus on building the business.
Anyhow an average human won't spend 100k or more for a passport. So, i don't get it who you want to adress with your "message"...
The other reasons why it's good to have a 2nd Passport > Reason #2: To avoid military conscription for war, Reason #3: To avoid restrictions on investment from your country, Reason #3: To escape potential WW3, genocide, civil war or religious persecution, Reason #4: To escape economic sanctions placed on your country or bad economy, Reason #5: To avoid being a human target for terrorists because your government supports their enemy who commits genocide or crimes against humanity!
When you come from a country that has visa free access to only 32 countries (most of them are 4th world countries) , getting a second passport become a human right!
For sure - That's always been my position. If you have a passport that has limited travel then yes, consider upgrading if possible, etc.
Most of the audience here has first world passports tho
Yes, you're right! I had a friend from Ghana married to a Ukrainian, they moved to Canada because of the Ukrainian war, only reason he got a visa was because he was married to a Ukrainian. Now they want to travel to Europe, his wife and kid doesn't need a visa, he needs one and applied for a Romanian transit visa, he was denied, tried again and was denied. His wife and kid had to travel without him, it took him months to get another visa and this time it was a Hungarian Schengen transit visa, suffered so much that he saved up money and bought an Irish passport through another means. Having a good passport is like having Gold
@@Roccinante Your friend must be loaded! Irish citizenship by investment costs between 1 million and 500 thousand euros! If i had that kind of money i would have gotten a Caribbean passport for $100K or a Greek passport for 250k
You sound bitter probably because your not able to get a 2nd passport. After covid a second passport is the best insurance policy out there
lol
This makes no sense
why?
You need a makeup artist, a hair dresser, a diction trainer - you talk way too fast, and a video editor, not to mention a photography specialist to pick video angles. Also, in this video you tell something self-explanatory. You need some work. Sources like your friends and that you promise also need some improvement. Other than that, it's a terrific video.
looooll - your comment made me lol