This guide in intended to help you understand the need for possible dual citizenship. Albert Einstein stated: "Nationalism is an infantile disease. It is the measles of mankind." Obviously as evident by several World Wars the human race is slow to overcome fascist tendencies of civilizations that can be very dangerous to freedom loving people. It is more and more apparent the US constitution is becoming abandoned and the very rights it guarantees are no longer there due to security concerns. You may have to make some tough choices on whether to fight or flight, but dual citizenship or another passport could go a long way in giving you that freedom of choice. The following are reasons why this may be an option you may want to consider.
- Travel safely without any restrictions. It's a long shot, but if you are ever skyjacked and the skyjackers don't like American(a strong possibility), it wouldn't hurt to have your second passport along. Also, our country restricts travel to certain places, excluding places you may want to visit. Less problems with a second passport.
- Buy exclusive property overseas. Many countries forbid foreigners to buy property, especially in restricted areas. And even where you can buy real estate, financing is usually a problem, unless of course, you're a national.
- Go into business overseas. Given the changes in the world order over the last ten years, a number of incredible business opportunities have opened up. But again in the restrictions on foreigners are formidable. Establish a second citizenship in the county of your choice.
- Get a job in a foreign country. The United States is one of the most difficult places in the world for a foreigner to get a work permit. Consequently many foreign countries make it at least as difficult for Americans to find work within their borders. As a result most American based multinational corporations place a premium on hiring executibves who have a dual nationality. The same rules apply if your're looking for a job on your own. A dual natinality can make it easier
- Invest in offshore mutual funds. Very few foreign countries are registered to sell their securities in the United States and foreign brokers will not sell unregistered securities for fear of running afoul of the SEC(Securities Exchange Commission). If you want these securities it is sometimes ESSENTIAL to have a foreign identity.
- Obtain shares of the world's fastest growing stocks. In some countries like Switzerland, Taiwan, and South Korea they restrict the right of foreigners to buy securitites or certain classses of securities in their makrkets. A dual nationality might help you obtain the right deal.
- Save money on taxes. There is a big tax loophole that thousand of Americans of dual nationality are taking aadvantage of right now. It's not a credit. It's not a deferral. It's an outright exclusion of money from gross income that can save your from paying 40% or more of your income on taxes ecach year. Mirror and become like the multinational corporations in their practices of operating overseas.
- Purchase foreighn securiies without restriction or hindrance. This includes Eurobonds, Unit trusts, and investment funds. As with offshore mutual funds, many of hte securities listed above range from difficult to iimpossible to obtain withou a foreign identity.
- Qualify for free medical care or tuition. Some countries make free medical care and/or tuition to their citizens. Find out if it is possible and the way that you can go about it.
- Benefit from foreign social security systems. You may be entitled to citizenships in certain countries which would in turn , entitle you to certain benefits including Social Security.
- Escape the watchful eye of big brother. Other countires don't have intrusive systems such as the new laws in the United States. You might find more privacy and rights than what currently exists in the United States.
- Many countries welcome dual nationalism because of the economic advantages it brings to all parties involved.
- The geography of Planet Earth is wide and varied and you have many places to explore. Many Americans have made the move to Mexico and other Latin American destinations such as Costa Rica, Belize (http://www.belizeretire.com/),
Venezuela, and Honduras (http://www.retirementhavens.com/). Dont limit your choices to just Latin American on consider Australia, New Zealand and many other parts. Marc Farber has recently relocated to Thailand(http://www.retirement-resort.com/prices.htm) which is in Asia.
- It is very important to due your due diligence and research in that laws in many countries are different and sometimes in conflict with each other. The standard of living in many parts of the world is catching up with the United States and many places that were once third world destinations have changed and you will be amazed.
- Remember one of the most important items is who you are with and associated with that matters the most in changes of this magnitude. Select carefully and consider all aspects such as geography, such as economics, climate, culture, language, elevation, government, technology, infrastructure, travel, laws, etc...