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Why Not All Passports are Created Equal

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Why Not All Passports are Created Equal

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Check out The Nomad Passport Index 2022: The World’s Best Passports

These days having a second passport is one of the weapons you can have business-wise. In most legacy brand countries, especially in the United States, their governments are looking for more ways to get more money. May this be through raising taxes or through the confiscation of wealth. This is prevalent in our current economy, so it’s important to know that you have a backup plan.

We’ve recently published our Nomad Passport Index, where we rank the best citizenships to have this year. In this video, Andrew will speak about why all passports are not created equal.

00:00 Start
00:55 The Best Passports in 2022
03:33 Best Passport for Crypto Investors
05:09 Malaysian passport
06:19 The USA vs. Canada
07:02 Citizenship of the European Union
09:39 British Citizenship
10:08 Belgium Citizenship
11:26 Visa-free Access to Europe
12:06 Living in Dubai

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Andrew has started offshore companies, opened dozens of offshore bank accounts, obtained multiple second passports, and purchased real estate on four continents. He has spent the last 12 years studying and personally implementing the Nomad Capitalist lifestyle.

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DISCLAIMER: The information in this video should not be considered tax, financial, investment, or any kind of professional advice. Only a professional diagnosis of your specific situation can determine which strategies are appropriate for your needs. Nomad Capitalist can and does not provide advice unless/until engaged by you.

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25 COMMENTS

  1. I encourage some of my korean friends to get second and multiple passports even though their passport is ranked as 2nd greatest visa free travel to 190 countries abroad ! Cuz there are certain countries where Korean citizens are restricted to go as tourists!

  2. We were told we have the best passport, schools and hospitals, ok? Don't spoil our daydream, we rate other countries by big mac index and hollywood movies.

  3. I think taxation and even freedom are more important than visa free travel. While I would never get an American passport, I'd gladly get a passport with worse visa free travel. Doesn't make sense that visa free travel accounts for 50% while taxation only accounts for 10%. For me it's the much more important for a nomad and the same goes for dual citizenship. If a passport gives me great travel benefits but doesn't allow me to have other options that's a no no. Same goes for Argentina where u can't renounce. All of that matters more to a nomad, in my opinion

  4. Based on my ranking my US passport is the most powerful, as a US citizen I'm so glad the US government is taking a good cut in taxes from the upscale class

  5. I have a German passport and yet was planning on buying property in Turkey to get a Turkish passport. Do you guys think that's redundant? If you were in my situation would you invest in another realty market instead or still invest in Turkey?

  6. If you had to pick five attainable passports to cover the whole planet and all your plan b and tax needs, what would they be?

    1- I currently have Canadian.

    2- My partner is German so we may get that one soon as they adjust the rules to include multinationals.

    3- Our child will be born in Mexico this year to cover that base of Mexican Citizenship for all of us eventually.

    4- I will start applying for Latvian soon as my ancestry may likely allow.

    5- If we have another child, we will do the brazil option.

    6- and certainly when I have the time and resources Caribbean Citizenship by investment is on the books.

    7- and just as a joke, I may go for Pakistani citizenship as it only requires 30k in the bank, although that would significantly impair my abilities to enter and leave India effortlessly.

  7. Nice video!! Very engaging from the beginning to the END., I'm new to crypto trade and I have been making huge losses but recently see a lot of people earning from it. Can someone please tell me what I'm doing wrong

  8. Well, I sort of don’t agree to a certain point on why your government wouldn’t follow you to tax your income while working abroad. When you are back to the country, you will use its amenities, roads, hospitals, shops, benefit from its health insurance and when you retire you are paid thereafter monthly to keep living well. Even while you are abroad you are still a citizen of that country. Ask a person with a passport from a country listed as the number 102 ranked on Henley Passport Index, and you would wish that you were taxed and followed when abroad, so one day when you return to it you live a good life and enjoy its benefits as a citizen in your country, and don’t have to deal with spending all your savings you earned because your government never thought of you or felt you existed while you were abroad! You don’t know how good your current citizenship is until you lose it’s privilege! Also being millionaires or billionaires, I find it rather funny when you have all this money 💰 and look for countries to not be taxed to earn more and more. You have a duty towards your country because this is where you originally made all your money from and benefited from its wellbeing.

  9. I know a lot of German ex-pats and the number one problem with a German passport is that the German consulate and embassy are absolutely no help whatsoever. The Covid hysteria caused all sorts of problems for people and I honestly think that Germany might be one of the lowest service embassies for citizens in the world. Maybe Ukraine is worse.

  10. 11:25 visa free access to EU: how about info about ETIAS in preparation for the upcoming change to that (sort of) visa waiver program ?
    i bet countries will go an extra mile to be included in the program; otherwise it will require a full fledged schengen visa for their citizens to come to EU, comes 2023.
    the only countries without any hassle are schengen area members and other friendly countries associated with EU. for example tiny San Marino outranks USA or UK immediately 😉

  11. An idea for the 2023 edition. On the Dual citizenship score add a 5 point qualifier for need to rescind other passports when nationalizing. That way anything with a 5 in that category means no rescinding necessary, whereas a 0 means normal circumstances of naturalization need to rescind other passports. I’m thinking like a Brazil would be a 5 and a Serbia would be a 0.

  12. i dont understand about this passport race. its seem for me, has become a big dick race. to brag about how many passport you have, to brag about I'm better than my other countrymen, to brag about how sophisticated i am to have multiple citizenship multiple passport. i think this whole thing is a stupid game and multiple citizenship and multiple passport are stupid prize goal.

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