Second passport?

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StinkyToes
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Second passport?

Post by StinkyToes » Sun Jul 05, 2020 8:41 pm

I believe the political situation in my home country (USA) will become increasingly bad in the coming years (more violence, less freedom, less opportunity, higher taxes, increasingly dysfunctional government, etc). I am interested in obtaining a second passport just in case the fit really hits the shan here. Has anyone done this and if so would you be willing to share your experiences? I don't speak another language and I don't have ancestral ties to any other country except one which I would not want to go to.
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pugchief
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Re: Second passport?

Post by pugchief » Sun Jul 05, 2020 9:00 pm

Google "Five Flags" for some basic strategy.
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Mark Leavy
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Re: Second passport?

Post by Mark Leavy » Sun Jul 05, 2020 9:23 pm

I've looked into it a bit, and it isn't nearly as straightforward as some of the websites would make you believe.
The ones that you can straight out buy (such as St. Kitts) have been flagged because of abuse by criminal elements.

Canadian or Irish or Hungarian ancestry are the best if you have them. I don't. My half sisters's mother was Canadian (long dead). I pushed her to get a second passport and she just got it a month or so ago, after about a year of paperwork.

Some of the more legitimate countries have programs where you can make a huge investment in real estate or business and get citizenship gradually over a few years. Not too bad. Nothing I'm ready to do, yet, though.

In all honestly, even though I would love another passport, I can't imagine giving up my US passport/citizenship. It really is the best in the world - even with the requirement to pay US income taxes no matter where you are.

If you really want a fallback, get financially independent first. Then you can live anywhere in the world on your US passport, with maybe just a little bit of paperwork. I think that approach is more practical and achievable than most other schemes. Of course, you might want to also play the long game and start the multi-year process of getting, say, New Zealand citizenship. I know Craig was living there for awhile and dating a local gal. Maybe he'll chime in.
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Re: Second passport?

Post by dualstow » Mon Jul 06, 2020 6:34 am

I’m half Hungarian but I don’t think they want me.

What was the country that that anarcho libertarian moved to and was promptly murdered? Mexico? Somewhere in South America?

I could probably live out my retirement comfortably in Taiwan, but the crime can get bad and they are likely next on Xi’s xit list.
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Re: Second passport?

Post by technovelist » Mon Jul 06, 2020 10:03 am

Mark Leavy wrote:
Sun Jul 05, 2020 9:23 pm
I've looked into it a bit, and it isn't nearly as straightforward as some of the websites would make you believe.
The ones that you can straight out buy (such as St. Kitts) have been flagged because of abuse by criminal elements.

Canadian or Irish or Hungarian ancestry are the best if you have them. I don't. My half sisters's mother was Canadian (long dead). I pushed her to get a second passport and she just got it a month or so ago, after about a year of paperwork.

Some of the more legitimate countries have programs where you can make a huge investment in real estate or business and get citizenship gradually over a few years. Not too bad. Nothing I'm ready to do, yet, though.

In all honestly, even though I would love another passport, I can't imagine giving up my US passport/citizenship. It really is the best in the world - even with the requirement to pay US income taxes no matter where you are.

If you really want a fallback, get financially independent first. Then you can live anywhere in the world on your US passport, with maybe just a little bit of paperwork. I think that approach is more practical and achievable than most other schemes. Of course, you might want to also play the long game and start the multi-year process of getting, say, New Zealand citizenship. I know Craig was living there for awhile and dating a local gal. Maybe he'll chime in.
If the communists take over the US, you will definitely have to re-imagine your US citizenship. How does a 100% tax on "excess wealth" sound to you?

Of course by then it will be too late if you don't already have your second citizenship.
Another nod to the most beautiful equation: e + 1 = 0
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Mark Leavy
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Re: Second passport?

Post by Mark Leavy » Mon Jul 06, 2020 10:33 am

technovelist wrote:
Mon Jul 06, 2020 10:03 am
If the communists take over the US, you will definitely have to re-imagine your US citizenship. How does a 100% tax on "excess wealth" sound to you?

Of course by then it will be too late if you don't already have your second citizenship.
Come on, tech. You, of all people know the hedge for that risk. That's what a large percentage in physical is for.
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Re: Second passport?

Post by technovelist » Mon Jul 06, 2020 10:40 am

Mark Leavy wrote:
Mon Jul 06, 2020 10:33 am
technovelist wrote:
Mon Jul 06, 2020 10:03 am
If the communists take over the US, you will definitely have to re-imagine your US citizenship. How does a 100% tax on "excess wealth" sound to you?

Of course by then it will be too late if you don't already have your second citizenship.
Come on, tech. You, of all people know the hedge for that risk. That's what a large percentage in physical is for.
For most circumstances, yes. But how are you going to travel if they cancel your passport for non-payment of newly imposed taxes?
Another nod to the most beautiful equation: e + 1 = 0
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Mark Leavy
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Re: Second passport?

Post by Mark Leavy » Mon Jul 06, 2020 10:44 am

technovelist wrote:
Mon Jul 06, 2020 10:40 am
Mark Leavy wrote:
Mon Jul 06, 2020 10:33 am
technovelist wrote:
Mon Jul 06, 2020 10:03 am
If the communists take over the US, you will definitely have to re-imagine your US citizenship. How does a 100% tax on "excess wealth" sound to you?

Of course by then it will be too late if you don't already have your second citizenship.
Come on, tech. You, of all people know the hedge for that risk. That's what a large percentage in physical is for.
For most circumstances, yes. But how are you going to travel if they cancel your passport for non-payment of newly imposed taxes?
I'm going to suck it up and pay the taxes. Then live off of the money that's safely outside of the system.
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technovelist
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Re: Second passport?

Post by technovelist » Mon Jul 06, 2020 10:47 am

Mark Leavy wrote:
Mon Jul 06, 2020 10:44 am
technovelist wrote:
Mon Jul 06, 2020 10:40 am
Mark Leavy wrote:
Mon Jul 06, 2020 10:33 am
technovelist wrote:
Mon Jul 06, 2020 10:03 am
If the communists take over the US, you will definitely have to re-imagine your US citizenship. How does a 100% tax on "excess wealth" sound to you?

Of course by then it will be too late if you don't already have your second citizenship.
Come on, tech. You, of all people know the hedge for that risk. That's what a large percentage in physical is for.
For most circumstances, yes. But how are you going to travel if they cancel your passport for non-payment of newly imposed taxes?
I'm going to suck it up and pay the taxes. Then live off of the money that's safely outside of the system.
Only if they don't cancel your passport anyway and imprison you for being a "white supremacist" or the like.
These people are tyrants. No one will be safe.
Another nod to the most beautiful equation: e + 1 = 0
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Mark Leavy
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Re: Second passport?

Post by Mark Leavy » Mon Jul 06, 2020 10:48 am

technovelist wrote:
Mon Jul 06, 2020 10:47 am
Only if they don't cancel your passport anyway and imprison you for being a "white supremacist" or the like.
These people are tyrants. No one will be safe.
Okay, you got me there :)
I guess I had better shell out $150K for that St. Kitts passport after-all...
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Re: Second passport?

Post by pp4me » Tue Jul 07, 2020 4:47 pm

>:D
Mark Leavy wrote:
Mon Jul 06, 2020 10:48 am
technovelist wrote:
Mon Jul 06, 2020 10:47 am
Only if they don't cancel your passport anyway and imprison you for being a "white supremacist" or the like.
These people are tyrants. No one will be safe.
Okay, you got me there :)
I guess I had better shell out $150K for that St. Kitts passport after-all...
Down here in Florida we always need to have a plan in place to pack up the car and run for our lives during hurricane season so we're probably a little bit ahead when it comes to planning for catastrophes. In the five times we've actually had to do it we were able to return with very little damage but it's been good practice. I was actually talking to my wife yesterday about maybe needing to start thinking a little about a more comprehensive exit strategy that has nothing to do with a hurricane. I still think this is an extremely unlikely scenario but as the CEO of Intel once said "only the paranoid survive".

So when we can resume our world travelling adventures we're going to do it with an eye on finding a place outside the country to buy a second home. Costa Rica is where we are thinking about starting.

Unfortunately, my wife's passport is about to expire and there is a large backlog of applications due to COVID.
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technovelist
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Re: Second passport?

Post by technovelist » Tue Jul 07, 2020 5:50 pm

pp4me wrote:
Tue Jul 07, 2020 4:47 pm
>:D
Mark Leavy wrote:
Mon Jul 06, 2020 10:48 am
technovelist wrote:
Mon Jul 06, 2020 10:47 am
Only if they don't cancel your passport anyway and imprison you for being a "white supremacist" or the like.
These people are tyrants. No one will be safe.
Okay, you got me there :)
I guess I had better shell out $150K for that St. Kitts passport after-all...
Down here in Florida we always need to have a plan in place to pack up the car and run for our lives during hurricane season so we're probably a little bit ahead when it comes to planning for catastrophes. In the five times we've actually had to do it we were able to return with very little damage but it's been good practice. I was actually talking to my wife yesterday about maybe needing to start thinking a little about a more comprehensive exit strategy that has nothing to do with a hurricane. I still think this is an extremely unlikely scenario but as the CEO of Intel once said "only the paranoid survive".

So when we can resume our world travelling adventures we're going to do it with an eye on finding a place outside the country to buy a second home. Costa Rica is where we are thinking about starting.

Unfortunately, my wife's passport is about to expire and there is a large backlog of applications due to COVID.
In that case I would pay for expedited service.
Oops, looks like that's not available right now either. Ugh.
Another nod to the most beautiful equation: e + 1 = 0
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