Considering changing my citizenship to something that might reduce my taxes, and give me visa-free travel to some of the world's best hotspots. No, I do not want to be American, and yes, I would prefer someplace where I could stay for a relatively long period (so that cuts Bermuda, etc.). Any ideas, guys?
Also this article was the one that drove me to these considerations: https://www.bloomberg.com/news/articles/2017-03-0…
Liechtenstein?
Too small, too irrelevant, too dependent on other countries FP.
I'm leaning more towards Swiss-style countries, or places in the Caribbean. That being said, Liech is great for tax purposes.
As far as I know, citizenship is extremely difficult and lengthy to change and it has nothing to do with taxes - you can be considered resident for tax purposes in one country but your citizenship would stay the one you got by birth. To change that, probably once you've established your residence abroad you'd have to live there for a minimum number of years prior to applying, I'd guess...
By a citizenship change, I mean changing my passport. From the way I see Indians and Chinese swapping citizenship for the US passport, it should be a piece of cake.
Something Central American. I believe you can buy Panamanian citizenship for a 50k investment.
Switzerland... but it is a difficult process
12 long years. Tough, but I think worth it.
USA by far is the best passport to have.
Actually no. UK is significantly better. Probably so are many of the other European countries.
Can't believe you got so much MS for this. I think people are missing the forest for the trees.
I'm with you dawg . . . USA all the way.
I would avoid Sweden, they just reinstated the draft.
Yep, 18-47. That's tough. 18-30's more like it.
Look at the SE Asian and African Island nations. You can basically get away with anything in these places and are mostly used as tax havens for corporations so travel visas should be easy to obtain since high ranking government officials use these places to hide money from bribes and what not.
SE Asian? African Island? Which ones?
Only know of Singapore, and now they're toughening up the rules. Plus draft.
Knock yourself out.
https://en.wikipedia.org/wiki/List_of_island_countries
Mauritius? Seychelles?
According to below article a German passport will give you easy visa-free access to 177 countries, more than any other.
http://visaindex.com/
Germany was near the top of my list, but I think you'll have to learn the language and stuff no? I'm a lazy basterd.
Came here to say German. I just moved here from Canada and it's been worth it! I think the German passport is behind only the Swiss.
Irish Passports! I think some Israeli spies were caught with fake Irish ones!
Yeah that dude murdered in Dubai right? But then they also used British, Aussie and American passports.
Yeah you're right actually, it was pretty nuts haha- http://www.independent.ie/irish-news/israeli-spy-sourced-details-for-pa….
I think the appeal of Irish passports would be - Non Nato Member, non colonial history and aside from the troubles with the Brits we have been a pretty much conflict free nation so we seem to have rather strong diplomatic ties and can get into a shit ton of countries.
St. Kitts - good way to hide income and also be recognized in Canada.
It'll cost you a pretty penny too (250k or 400k)
Interesting shout but as of 2014, citizens from the country now need a visa to travel to Canada. And since the implementation of FATCA and other tax laws, it's been a challenge for American citizens to hide their money in what were once considered Caribbean tax havens. They basically pressured the islands' governments to comply with their terms and regulations. So financial institutions in these islands now ask you for stuff like your SSN and report to the US if you have more than 50k in your account as an American.
Here's a list of the countries who have some sort of agreement in place in regards to FATCA:
https://www.treasury.gov/resource-center/tax-policy/treaties/Pages/FATC…
OP be wary that you may be subject to paying an "exit tax" if you revoke your US citizenship. But this is dependent on your finances of course.
Not a Murrican :)
A British passport is pretty solid. Not easy to obtain, but London is extremely liveable. Freedom to travel to most countries, not sure how Brexit will alter this ability
Yeah, no more. I'm looking at getting out of it now.
Would probably echo Germany then, seems liveable and holds political weight. Would not recommend South American or Eastern European countries.
i've heard Paraguay it's pretty easy to buy citizenship (was $10k last i heard a few years ago) + requires relatively minimal time in the country compared to some of the other options, but things may have changed, and not sure what this type of citizenship grants you, but may be worth looking into. obviously you dont want to spend time in Paraguay, but would grant access to most or all of S.America
I'm actually considering Paraguay. I think it's only $3k, and apparently you don't need to be there.
As for your second point, is there a Schengen equivalent in the Mercosur countries? I mean, Visa-free access?
And lithium mining in Argentina might be lucrative too, so might consider moving to Buenos Aires :P
yes that's the greatest value of the Paraguayan citizenship is the mercosur flexibility, all or most countries in S.America are covered in it and it allows you access to live in any of the countries included with similar (or the same) rights/privileges as a local
i dont know anyone that actually obtained one but the topic came up often. I think Colombia was a more popular option. more difficult but much more desirable to live. not too sure of the details.
Singapore and Hong Kong. If you've managed to save up ~US$5-10M you can invest in either country and get residence, and eventually convert that into a passport.
Singapore maybe, but Hong Kong isn't the kind of place you can retire with your kids.
I'm a dual citizen of a LatAm country where the very top income tax level is 33%, relatively low capital gains taxes, and not much estate tax. If im ever rich enough then #in
Canada, has the support of the most powerful nation in the world while being seen as a goody two shoes by the rest of the world. Canadians can visit virtually any country in the world and foreign people treat you better.
I was born in Canada, live in America (and have Indian parents) and when going abroad, am treated far better when I tell people I am Canadian or even Canadian-American than simply American.
Canada seems a reasonable option. I'll equate it to Germany I guess.
One thing you might want to know about Canada is how boring it is with its cold weathers. Unless you move to Vancouver and burn some cash there
Given your name I think you could find an Italian nonno somewhere.
Praesentium facere aut reprehenderit at. Illo perspiciatis necessitatibus distinctio dolor. Dolores totam velit modi corrupti iure eius.
Dicta ex exercitationem debitis qui. Vitae rerum enim autem nulla ratione. Et aut nemo est qui praesentium voluptatem. In quibusdam facere et iure doloribus ut porro. Voluptatem dolorum aliquid ipsam. Non qui a natus harum qui.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...
Nisi ipsam eius expedita atque nisi quos. Et rerum sapiente reprehenderit occaecati distinctio. Et quae consequatur omnis culpa. Ipsum culpa qui quia sed sit sit. Officiis debitis voluptatibus beatae ex minus adipisci sint.
Omnis tenetur et consequatur dolorum aliquid. Ipsa ut esse hic nobis soluta quia ut. Vel blanditiis aut consequuntur aspernatur quia qui officia.
Magni et et magnam. Nostrum sint qui reprehenderit officiis ut. Eius ut aperiam corrupti qui sit sit.
Reiciendis iste eius ut qui perspiciatis. Iusto itaque autem pariatur iste.
Quasi id at quibusdam eos. Deleniti deleniti laudantium quibusdam. Praesentium velit minus voluptatem dolore nobis. Qui cumque ea perferendis laborum mollitia molestiae nostrum. Sed repudiandae cum alias quos. Ab eos quas consequatur quidem autem. Et alias quia voluptas facere.
Consequatur saepe perferendis et debitis fuga officiis. Vero consectetur et deserunt ut vero et. Necessitatibus deleniti sit doloribus expedita quia sint.