If you don’t hold a second passport yet, what’s stopping you? When you hold a second passport, a world of opportunities opens up to help you protect your finances, safeguard your privacy, and to grow your financial nest egg free from high taxes.
If you believe that spreading your political risk beyond one jurisdiction is the single most important thing you can do today, then obtaining a second passport and citizenship in another country is a critical part in achieving your goal. This is because it's a fundamental step toward minimizing the political risk of being subjected to the whims of any single government. The political diversification benefits that come with obtaining a second passport are universal and prudent for anyone in the world to obtain...
By now, you know that I advocate acquiring dual citizenship. Dual, even multiple citizenship, for Americans has been upheld as a legal right by the U.S. Supreme Court in several cases. A second passport is solid insurance against tyrannical government. And although Switzerland has been smeared as a haven for tax dodging and money laundering, of all passports, the Swiss is one of the best. It offers visa-free travel to many countries. However, acquiring Swiss citizenship is difficult, usually requiring years of residence to qualify, and even then may be subject to local canton approval.
Tucked away 150 miles east of Puerto Rico, you'll find one of the Caribbean's most beautiful jurisdictions—St. Kitts and Nevis. St. Kitts is the larger and more populous island, but I prefer the less hectic pace of life in Nevis. With densely forested mountains, brilliant tropical flowers and crystal-clear waters, there's plenty of reasons you'd want to own a home on Nevis.
During the decade since I first published my popular Passport Book, now in its 10th edition, rarely have I seen so many countries at one time willing to trade official access for foreign cash.
Your great-great-great-grandparents (may they rest in peace) could be about to hand you citizenship in Europe…and, with it, the legal freedom to live and do business in any of the 28 countries of the European Union. Your family tree could hold the key to opening a path to second citizenship for you and your family, especially in Europe. There, several countries will grant citizenship to you based on ancestry.
What’s your reason for not already having a second passport? Too much effort? You don’t travel often enough? You’re happy with your home country, and the government representing it? You don’t need access to some of the world’s hottest capital markets? All good reasons, to be sure.
Did you know that if you have Irish ancestors you may be eligible to obtain an Irish passport? It’s true...and it’s pretty easy to do. And that Irish passport can open lots of doors for you... For instance, you can get a job anywhere in the European Union... You can easily open a bank account somewhere like Switzerland... As an Irish passport holder, you can travel more safely to some countries of the world...
Step Offshore: A Roadmap to Taking Yourself and Your Money Overseas There is a lot of incorrect, incomplete, downright dangerous information out there about the offshore world. Let’s face it… it gets a bad rap. Yet it’s perfectly legal to have an offshore bank account… or own property overseas… or have a second passport. With all the poor information and suspect advice floating around on the web about your options offshore, we felt it our obligation to set the record straight.
For U.S. citizens, a second passport has another benefit: It’s an essential prerequisite to expatriation—that is, giving up your U.S. citizenship in order to permanently disconnect from the U.S. taxing authority. However, despite what you may read on the Internet, getting a second passport isn’t like ordering a DVD on Netflix.