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Here in Offshore Citizen, we are all about having a Plan B, and a Plan C.
The more optionality you have in life the better off you’ll be if things don’t go as planned.
When we talk about plan B we talk about insurance. We’ve witnessed many turbulent changes in the past few years, and while life was hard for many, it was much easier for those who had a few more options in their sleeve.
For example, in 2020 EU citizens were mostly free to roam around Europe, while everyone else wasn’t allowed in.
So, what should you consider when you want to put a plan B in place?
Here are the most important things:
-Banking options, aka multiple bank accounts
-Multiple citizenships
-Multiple residencies
-Alternative income streams
If you have these options covered, you will be safe if things go south in your home country or place of current residence.
Today we are covering this important topic of having optionality in the world, regardless of how much money you have.
Who are we and what do we do?
We are Offshore Citizen team. We help people become global: get a second passport, set up a second residency, pay less taxes, do banking abroad, etc.
We have lots of interesting articles on different topics, we have relevant information up to date.
Author: Michael Rosmer
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Will the donation cost of Vanuatu citizenship be diminish after losing EU visa exemption??
Hi Michael, fantastic content what's ur brief take on banking in St Kitts.
Bank accounts, have you heard of the word “FROZEN” . That’s not insurance, that’s jumping out of the plane without a parachute and concrete shoes.
Great video.
I'm curious as to why you consider banking in the Caribbean bad, because from what I've seen thus far 2nd citizenship in some countries seems like a great deal in terms of taxation for investments.
Is the problem a question of customer service?
Anyone catch that list of Portuguese banks? I couldn't understand them.
Very good Video. What do you think of Residency in Columbia as a plan B.? Thanks for all you do.
Have you said that Mexican permanent residency is for $20,000? Does it mean that I need to pay that or move 20k to MX bank? Anyway great video, many thanks 🙂
So much useful information here. I'm a FACTA-bound dual US/Italian citizen with a modest amount (<100k) I'd like to diversify. Still Portugal and/or Belize? EUR, GBP, CHF or a basket account? Is it even worth at that level?
Hoping I don't need Citizenship….BUT…THOUGHT CRIMES in the USA…long dark FASCISTS DADDY in the USA…BTC confiscation in the USA. POOF…GONE! MY line is drawn. Great content….thanks for sharing straightforward content for everyone.
Banking account hard for me until…purchased a condo…poof…bank easy. Residency…just move $20k to Philippines Govt approved bank..poof…residency easy. After MADdemic, Permanent Residency appears to live up to promise…easy anytime access just based on permanent stamp. Manila infrastructure not to be trusted again after MADdemic, but BORACAY world class beach with decent infrastructure (transportation, food, housing). Citizenship meh…not in Asia. Probably PLAN C…elite THAI…to bounce for relief or more serious medical needs. Less than 100k to start. If BTC ever performs to PLAN B Stock to FLow…maybe we do something more exotic. 😉
My top recommendation: Mexico and Portugal residency, Turkey or St. Nevis Citizenship, banking in Multi-currency Wise account, investments in equities, precious metals and cryptocurrencies.
Reading between the lines… this feels like probably THE most important video produced on this channel. I wonder how many will actually watch AND act?
Hide up in The Andes… $40k in a bank – investor visa in Ecuador?
Nice info, thanks. Reminds me of an old Italian family on how they preserved their wealth through the centuries. The answer was gold, art and land. In particular, as the supply lines go down and globalization with it, I'd consider a self-sustaining farm in one of the Med countries. Then at least the food supply is secured.
I feel like Crypto is dropping the ball. This would be the perfect context. But they are more interested in making money in the short term than giving sorely needed financial services.
Have watched your videos for years AND, this one was the best. We look forward to working with you on our Plan B.
Nice hair style today, Sir
Hi is it easy to open a personal bank account in Dubai or you should form a free zone for a business bank account
I have a hard time understanding what is little / lot / some money when you talk about costs. Sometimes you do say 10k,100k,1mm and that helps a lot, but it's hard to start this journey without knowing who I am (where I fit). Thanks for all the info; just had this little rant but all is appreciated.
I heard that Malaysia is now considering making BTC legal tender. That definitely opened my eyes. But, I'm also interested in Ecuador. The idea of owning a multi hectare estate in the rainforest with a plethora of food to harvest seems like an ideal Plan B escape. The prices seem very reasonable too.
Great video as always, Michael. What kind of physical presence does Argentina require during the two years before applying for citizenship? Thanks.
Successful people don't become that way overnight. What most people see at a glance wealth, a great career, purpose is the result of hard work and hustle over time. I pray that anyone who reads this will be successful in life
That's interesting. I never though of pegged currencies in that way.
It makes a lot of sense. Great tip.
Michael, another great informative video. I've heard that getting a Portugal D7 visa is very quick, which does require a 6 month stay, but would only need to be proved when renewed in two years. If one had not complied, at that time one could apply for the Golden Visa. then benifit would be that 2 years would have counted towards citizenship. What are your thoughts?
As always, great info! Michael and his team helped us with our Plan B move offshore. Best decision we have ever made! Thank you!!
Don’t forget each bank account overseas means more tax compliance as a US citizen, that is if the bank will even take you which mostly they won’t.
I keep hearing "my idea" mentioned in your videos. Makes me confident that we are leaning in the right direction.
We'll talk soon, Michael.
In the meantime, keep the high quality information coming. 🔥
Great vid, Michael. Any thoughts on South Korean citizenship as a Plan B and the South Korean Won for currency diversification?
How does the Mexican fast track perm residency thing work? I applied for a retirement visa but they denied me (for being too young) and gave me temp residency.
EQIbank is another great option. They are a global digital bank. They are also crypto friendly.