This Guy Has Eight Passports
A few weeks ago I caught wind of a guy who has citizenships from eight different countries.
This �octa-citizen� has passports from Canada, UK, Ireland, Belize, Grenada, Dominica,
St. Kitts, and Cape Verde.
Let�s be honest� that�s probably way too many. But the concept of acquiring multiple
nationalities is completely sound.
If you have one nationality, it means that a single government has total control over
your life, your finances, your business, and your personal affairs.
It means that you�re chained to the consequences of that single government�s decisions, no
matter how destructive, no matter whether or not your agree.
If they decide to provoke another shooting war and impose a draft� or levy debilitating
taxes� or print so much money that the consequent inflation causes social unrest� then you
have little recourse.
A second passport is like an insurance policy.
Sure, hopefully you never need it. And hopefully you never need the fire insurance policy that
protects your home either.
But if that day ever comes when you smell smoke, you�ll thank your lucky stars that
you�re covered.
Having another citizenship means that if the worst ever happens in your home country, you�ll
always have a place to go where you and your family are welcome to live, work, study, invest,
and do business in peace and safety.
Again, maybe that never happens. HOPEFULLY that never happens.
But it seems risky to bet everything on hope, especially when there are so many substantial
risks looming.
We often discuss the pending insolvency of some of the world�s most important central
banks, as well as the outright bankruptcy of nearly every major western government.
History shows that countries in this position almost invariably experience severe problems
as a result of their excessive debts and irresponsibility.
And it would be terribly foolish to simply �hope� that repeating these same mistakes
will somehow result in zero consequences.
Having a second passport doesn�t mean that you�re crazy, pessimistic, or even unpatriotic.
It�s just a sensible thing to do.
Worst case, even if you never actually need the �insurance policy� of having another
nationality, a second passport will provide additional options for visa-free travel and
international business.
For example, US citizens who want to travel to Brazil need to obtain a visa in advance.
But citizens from dozens of other countries, from Argentina to Belgium, do not.
Being a citizen of certain countries (like Mexico, for example) entitles you to own certain
property or start special businesses.
Again, maybe you wouldn�t ever use these benefits. But it�s hard to imagine you�ll
be worse off for having additional options.
More importantly, remember that a second passport can often extend to your family as well.
So even if you don�t see yourself traveling or doing business or buying property abroad,
your children and grandchildren might want to do so.
Obtaining a second passport will provide those same options and benefits to them. It�s
a perpetual gift that you can give to future generations of your family.
So how does one actually obtain a second passport?
Well, you can pay for one.
St. Kitts, Dominica, Antigua, Cyprus, Malta, Grenada, etc. all have formal programs which
grant citizenship to foreigners in exchange for a large investment or donation.
These can cost anywhere from $100,000+ to more than $2 million� which is a LOT to
spend on an insurance policy for most people.
Fortunately there are easier (and cheaper) ways.
The simplest and most cost effective way to obtain another passport, by far, is to go
back to your family tree.
If you have parents or even grandparents from places like Ireland, Poland, Italy, Lithuania,
and literally dozens of other places around the world, you may be able to apply for citizenship.
If you think you might qualify, the best place to start is with the local consulate nearest
you.
Call and ask them� they�ll be able to walk you through the process and documentation
requirements.
If you�re not part of the lucky bloodline club, no worries, there are still other options.
Plenty of countries around the world allow foreigners to become naturalized citizens
after a certain period of time as a legal resident in the country.
Panama is a great example; after five years of legal residency, foreigners qualify to
apply for naturalization and citizenship.
This doesn�t mean you actually need to move overseas (but trust me, it can be an amazing
experience if you do.)
Many countries, including Panama, have favorable legislation where you can still be considered
a legal resident and eventually qualify to apply for naturalized citizenship without
actually living there.
This is an incredibly easy option� all it takes is time and patience.
As a final option, if you�re planning on having children, you might consider heading
overseas for the birth.
Most countries in the Western Hemisphere award instant citizenship to any child born in their
territory.
This includes the United States, Canada, Mexico, and just about every country in Latin America.
I flew some of my relatives to Chile a few years ago for this reason� their child was
born in Santiago and will be able to enjoy the additional options and benefits of Chilean
nationality for life.
This is literally a life-long gift you can give to your child; and it will likely pass
on to their children, and their children�s children, all because of actions that you
take.
There are very few things within our power that have such a lasting, multi-generational
impact.
Citizenship is one of the most important.
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