CitizenX: Invest in Citizenship
citizenx.com
citizenx.com
Also if you are young (under 30) you should check what countries you have rights to get a working visa in so you can "try before you buy" so to speak. and once you are in with a job the migration process is generally a lot easier.
If you are old 50+ then forget it unless you are rolling in cash and have a PhD :-)
For example if you’re an American with a Thailand elite visa good for 20 years or Singapore or Hong Kong PR you might want to get rid of your US passport but to do that practically you need another - literally any will do but these ppl don’t have an interest in becoming tax resident in another high tax place with complicated world wide reporting requirements…that’s literally the problem they are trying to solve by getting rid of the U.S. one.
I think it should be Mediterranean rather than Caribbean
" 10%
Pricing as clear as the Caribbean sea. We only charge a flat fee of 10% of your minimum application cost — even if you decide to invest more. No hidden or extra fees."
Then there is a button that states, "Calculate your costs" and when I click it I am taken back to the home page.
I'm a little confused by this. What is my minimum application cost to move to another country? I would suggest presenting an example perhaps.
Local consulting firms can build such businesses (for a fee), and they are generally profitable.
Interestingly, this is made in Switzerland, one of the hardest countries to get citizenship. ;-)
This is akin to Uber during its early Startup stage. Rich people already use concierge services to call for luxury when needed. In the case of citizenship by investment, the rich have been doing it for ages. Now, we have CitizenX bringing it to the public and making it more accessible.
Here is an example: I will avoid naming or inferring any person or entity. At the onset of the pandemic, I was introduced to an "Investor" because he believed startups were the other avenue to make big money. He barely speaks English (this is relevant), and of course, his primary question was -- if I invest X amount, how much return do I get, and in what timeline?
I learned that he owns a lot of real estate in Bangalore (India) and that a considerable amount of his monthly income is from commercial property rent. My second learning was that he is a USA green card holder but stays in India as an "American." He invested a minimal $800,000 (I think as of 2020) in a business in the USA where (I don't think) most would prefer to immigrate and live.
So, many wealthy people are willing to become citizens of a different country for various reasons. CitizenX may not be the go-to self-serve finish-your-job online service, but they might partner with or do custom concierge services and earn a good amount.
> Manage your passports, residencies, and companies with a single citizen experience. Apply to new programs in new locations with just a few clicks.
That’s a solution to a problem that I didn’t even know you could have.
It is a "problem" for people who have enough money to be able to pick and choose the best country for their taxation needs.
And residency is typically much cheaper to acquire.
Do any non-US citizenships let you skip a visa and travel more freely than you otherwise could?
With additional citizenships, do you now have added tax obligations? The US always taxes you, even as an expat, IIRC.
If something bad happens abroad, which embassy helps you out?
Does getting another citizenship put you at risk of losing your original nationality?
https://www.henleyglobal.com/passport-index/ranking
2. Yes - an example I travel to frequently is Vietnam - it is visa free for Italy but not for USA (former American Italian here)
3. Generally no - USA is the only major country that taxes based on citizen and not by residence or territorially
4. Embassies very rarely help anyone “when something bad happens” - in the event of a large natural or political disaster they might help. Most (including the USA) have a policy of not being able to help you in most situations beyond giving you the contact of a lawyer, doctor etc.
5. Most of the time no, but some places do prohibit citizens from having multiple citizenships or acquiring new ones: iirc Singapore is one of those.
Wrote about my citizenship changing adventures here since you seem interested! https://larrysalibra.com/goodbye-usa/