Second Passport
Being a citizen of more than one country has a lot of advantages. I should know… I'm one of them.
My name is Ted Baumann. I hold passports from the U.S. and South Africa, where I've lived on and off for decades.
Here are some of the things having that second passport has done for me over the years:
I've traveled visa-free to countries where American passport holders require one.
Because I'm a citizen of a second country, I can perform most of the work I do from there. That qualifies me for a huge break on my U.S. taxes… In fact, most years when I've worked from my second home, I paid no U.S. income tax at all.
As citizens of a second country, my children are eligible for higher education at a tiny fraction of what they would pay in the U.S. The same goes for healthcare.
I have much more control over my personal privacy. I have a second home overseas and hold other hard assets that don’t need to be reported to Uncle Sam. On top of that, privacy laws are stricter in South Africa—and many other countries—than they are in the U.S., which means I'm much less vulnerable to hacking or having my personal information stolen from a big tech company.
Above all, I have a place to go if things ever go truly south in the U.S. I have a Plan B for myself, my family, and my wealth.
The best part is... you don’t have to be a millionaire to have a Plan B. There are many ways to attain a second passport. I lived abroad for some years and eventually qualified for naturalization. But many countries will grant you citizenship if you have a parent or grandparent—and sometimes even a distant ancestor—from that country. Others will give you a passport outright in exchange for an investment.
Having a second passport is perfectly legal. Under U.S. law, upheld by several U.S. Supreme Court decisions, “dual citizenship” doesn’t jeopardize my U.S. citizenship or rights in any way.
A second citizenship can open doors currently closed to you... For many, it’s led to greater freedom, lower taxes, and greater asset protection.
Below you’ll find more details about second passports—the benefits, the best countries to apply for one, and how to get started...