The World is a big place. Don’t be trapped by one passport. With one single citizenship, you are imprisoned by your own country preventing you accessing opportunities abroad.
A Plan B is a must for everyone. It is a double must for HNWI families. The Covid lockdowns showed us importance of home and family. Investing in family future can be the ultimate investment. A Second Citizenship is a perfect life insurance plan.
Have you considered as second home abroad? An alternative citizenship or residency is a must in wealth management, cannot be ignored by wealth advisors. Passports are a new kind of asset class must in any wealth portfolio
All country nationals must have Plan B in place
A Plan B is a backup plan, should something go wrong.
Where will you go? Europe? Caribbean? Asia?
The easiest way to plan for your future is to pick a geographically closer country with stable economic, political and financial climate to start your Plan B. Go where you are welcomed with smiles 🙂 You should be thinking about holding several travel documents (eg. passports).
A Citizenship these days is the luxury product and an ultimate safe haven investment. Without this status in the 21st century, you will be treated as second class citizen and deprived of all fundamental rights. A second citizenship can be the best gift you can give for your loved ones.
As you have seen in Europe, Covid has destroyed all free movement in the Schengen area. Many EU states only permit entry for citizens and residents (subjected to 2 negative Covid tests and 2 weeks mandatory quarantine) while placing bans on third country nationals. This shows the value of being permanent resident or citizen during pandemic times.
A Plan B can provide you wide scope of benefits such as
- Safe passage during disasters, uncertainties or economic collapse.
- Asset protection and inheritance offshore.
- Education for children abroad
- Low Tax planning offshore
- Access to best health care systems
- Business opportunities to grow your wealth
- Travel freedom with no visa restrictions.
- Stable political climate
- Financial stability and strong currency giving you peace of mind from devaluations
Remember! Putting your Plan B in action takes a lot of time. It must be done not in the last minute, atleast six months or one year in advance. Do your own research and homework.