Why Tier B second passports are the wave of the future

Рет қаралды 46,787

6 жыл бұрын

What makes Tier B passports the wave of the future?
There are three tiers of passports - A, B, C - and there's good reason to believe that holders of tier B passport have advantages yet to be revealed.
Andrew talks about why tier A passports will become increasingly difficult in the upcoming years, and how tier B passports don't come with the same kind of "baggage".
Having a tier B passport as your second passport will make your life a lot easier because you won't have to deal with so many regulation changes and restrictions that will happen in tier A countries.
Tier B countries are becoming more open and visa-free travel will only improve as time passes by.
E-visas are another commodity that is becoming more common in these countries, which fully supports the claim about the wave of the future.
You get all the privileges with a low profile, and that is as good as it gets when you're looking for ease of travel and a strong safety net in your second passport.
The world is opening up to smaller countries and obtaining a tier B passport allows you to take full advantage of that.
Follow our channel for more videos on second passports, offshore banking, as well as info about Nomad Capitalist lifestyle and don't forget to subscribe!
---
ABOUT NOMAD CAPITALIST
Andrew Henderson travels to nearly 30 countries every year to stay up to date on the latest legal strategies for entrepreneurs and investors to pay less tax, grow their money faster, and build their personal freedom.
Andrew started Nomad Capitalist to help people like you follow his five magic words: "go where you're treated best". He has personally started foreign companies, opened offshore bank accounts, and obtained multiple second passports.
He also learned the hard way that perpetual information seeking is often the biggest barrier to getting the results you want. Many entrepreneurs spend months and even years constantly researching how to pay less in tax or live overseas, but are afraid to make the jump.
As a result, they get stuck and keep paying a fortune in taxes and never get the lifestyle they deserve.
Nomad Capitalist's KZfaq channel is based on Andrew's vision that focusing on the end result, rather than the latest shiny object, is the best way to actually obtain the benefits of the Nomad Capitalist lifestyle.
About Andrew: www.nomadcapitalist.com/about/
Our website: www.nomadcapitalist.com
Our blog: www.nomadcapitalist.com/blog/
Work with Andrew: www.holanomad.com/
Facebook: / nomadcapitalist
Subscribe: kzfaq.info_...

Пікірлер: 100

@CaptMdFaizurRahman 5 жыл бұрын

Very practical, realistic, foreseeable and honest opinion. I liked it. Thanks

@ronaldl911 4 жыл бұрын

I've got Tier C (South African)... probably gonna drop down to Tier Z soon, plus US style taxation.

@keailun3444 4 жыл бұрын

Know the feeling.

@nkoonkukoo 3 жыл бұрын

Same, when I'm rich, just going to get 3 passports from cbi and renounce my South African passport

@deshonmiller5573 5 жыл бұрын

Thanks for the information keep up the good work. Peace

@kamalnathkanthimathinathan1473 3 жыл бұрын

Expecting more videos about tier B+ countries from you... Ps: your channel is really informative...

@lc3487 4 жыл бұрын

Great insight. I always wanted to get an eu passport until I hear your opinion about tier A passport!

@steveswift4064 5 жыл бұрын

GOOD JOB

@SH-jg5zq 3 жыл бұрын

Thanks 😊

@Mark-iq1wn 6 жыл бұрын

Love your vids. Cheers

@friendoengus 6 жыл бұрын

really good one, andrew thank you this video will help a lot of folks just grasping the difference between tier A and tier B will be illuminating for many

@axlblah 6 жыл бұрын

Hi Andrew and everyone in this channel, I've basically just discovered it and I loved it from the first video, but how do I get like deeper info on which are all the tier B countries, which ones are the best in case there is not a lot of money ot invest. (As my case right now, I'm 22, moved to Argentina few months ago and I'm starting to get used to the place and stuff, but looking how bad the economy is going I may move after the 2 year period)

@nomadic-mind 6 жыл бұрын

Singapore seems like a reasonable option for an American IMHO. After becoming a permanent resident and living there for two years you can apply. Much cheaper for those of us who are young and don't want to/can't drop 100k on a second passport.

@theandrewhenderson 6 жыл бұрын

1. Singapore rejects many applicants for residency and most applicants for PR in recent years. 2. You may have tax obligations if you live in Singapore, especially if you immigrate as an entrepreneur. That combined with the cost of living from the required physical presence makes it not so "cheap". 3. Not every second passport costs $100K.

@achalacharya 6 жыл бұрын

Singapore doesn't allow dual citizenship.

@anthonyluisi7096 4 жыл бұрын

Singapore is ridiculously expensive ... try purchasing a car or hone there ... Good Luck 🍀

@miqsirajuddin5378 4 жыл бұрын

@@theandrewhenderson The cost of living can be supplanted by living in Johor across the pond and working in S'pore.

@presman8166 6 жыл бұрын

Gathering a crew for the first starship to Alpha Centauri! Will be tax-free for some time for sure !!! Anyone joining?

@anthonyluisi7096 4 жыл бұрын

I agree ... more countries will initiate USA STYLE taxation in the future ..

@cr6129 6 жыл бұрын

Trump needs to repeal FATCA and End citizenship based taxation!!

@nomadcapitalist 6 жыл бұрын

C R He had his chance and they chose not to.

@rjperalta9146 5 жыл бұрын

It's ridiculous that in order for you to open a bank account in a country like the Dominican Republic, as soon as they see US based citizenship, they hand you an IRS form for you to fill out....

@jomr5251 4 жыл бұрын

Brazil does the same to its citizens abroad they have to fill tax forms and pay back to the Brazilian government specially famos soccer players that work in European leagues and earn millions of euros or dollars with their contracts.

@christopherellis2663 3 жыл бұрын

Fat chance... too totalitarian for us non-US types

@zackbog 6 жыл бұрын

i do see the eu becoming more harder future to get visa as immigration become hard to control in more eu states look at leaving

@Obaid90 6 жыл бұрын

Thanks for the video.. I'm just curious can u talk about tires of passports in terms of its nationals' salaries. Because I heard embassies advise their Nationals abroad to not accept Job offers with salaries that are less than certain number. I think in that case tires a and b + win in this regard.

@Obaid90 6 жыл бұрын

Probably this thing happens in the gulf area here as I researched the internet for this topic and the first links showed up are in the gulf

@jrileycain6220 4 жыл бұрын

I watched and kept waiting for him to actually name tier B countries but he never just said, "Here are tier B countries."

@emanuelriquelmemontoya3819 3 жыл бұрын

he said that the tier b passport are the ones that don't have visa free access to the us, but visa free access to most of the world, if a tier b passport gain access to the us become a tier a so it does not make sence to mention countries

@paulcummings9015 4 жыл бұрын

Why would you choose a singapore passport when they do not allow dual citizenship ?

@FieldOfDaisies2468 6 жыл бұрын

So I'm a British/Australian dual passport holder. Are you saying in the future I will have to pay taxes in both countries? I was born in England but emigrated to Australia with my parents when I was 10. I've never worked in England. I've only ever worked in Australia and pay tax in Australia so how could the UK make me pay tax there?

@653j521 6 жыл бұрын

Rachael They can because when you are a citizen you have rights and privileges as well as responsibilities and restrictions. Apparently Australia will no longer tolerate dual citizens in Parliament unless they took steps to renounce the other one before the election. I wonder if that is true anywhere else.

@dmanakell 5 жыл бұрын

Singapore doesn't allow dual citizenship. Is that correct?

@eagillum 5 жыл бұрын

Video for Canadians wanting to buy vacation property in Massachusetts?

@patrickmc8779 4 жыл бұрын

Hi, do you think it is a good idea to try get French citizenship to have access to EU maybe bulgaria?

@haithamseragify 4 жыл бұрын

St. Lucia citizenship or st. Kitts and navis ?

@abdullahhakan1 3 жыл бұрын

I have visited 8 Chinese cities, Hong Kong, 3 times in various times; 4 times to Thailand's 5 various cities, had stayed in USA 2 years in Total spending 57.000 USD as one guest, rented 10 cars in Total in the USA and had done 100.000 kms on the interstates to travel 10 Southern and northeast states of USA. I have visited all Balkan countries, Romania, Bulgaria, Greece, 1 month England, 4 months Germany, Switzerland, Georgia, Malta, İtaly, Portugal, Spain, France until age 47, alone, childless.

@subutai999 2 жыл бұрын

Which one do you prefer?

@diegoyanesholtz212 6 жыл бұрын

You forgot North Korea. Is the other country that tax base on citizenship.

@ekaterinaivleva8336 5 жыл бұрын

What would you recommend as a passport problem solution to Dunkan Macclaud nowadays? Aka if a non-criminal nice gentleman needs a new passport every 40 years to conceive his age/ the fact that he is not ageing?

@lerryperry 4 жыл бұрын

Lol

@cellogers 3 жыл бұрын

What about Uruguay or Argentina?

@lerryperry 4 жыл бұрын

Andrew, the Jamaican Passport provides visa free access to 95 countries, would you classify this as Tier B or Tier C?

@nomadcapitalist 4 жыл бұрын

lerryperry If no visa-free access for the US or EU, it’s Tier C

@srirajization 5 жыл бұрын

Compulsory military service?

@lmh4162 3 жыл бұрын

Is there a list of these tier passport from A to C.

@olivezaitun 4 жыл бұрын

Do you think the tier B passports will get more visa free countries added to their list in the future

@nomadcapitalist 4 жыл бұрын

Yes.

@ericeverson5956 5 жыл бұрын

Can I have 5 passports so I can travel the whole world without visas? Thanks for your work.

@alrent2992 4 жыл бұрын

Yes! If your wanting children go to birth tourism countries and obtain it this way.

@musamupfekeri 3 жыл бұрын

Please confirm that Visa Free passport doesn't mean guarantee entry in the countries covered...eg I know UK can still turn you back at the border?

@nomadcapitalist 3 жыл бұрын

Nothing means "guaranteed entry" except being a citizen.

@davidrubio.24 3 жыл бұрын

I don't understand: you don't want an EU citizenship because maybe in the future they'll set up some regulations for non-resident citizens? For me having a tier A passport with the possibility of living and working in Europe sounds really great. Rumors of Norway (not EU) taxing citizens abroad, or Andorra (not EU) having a tax increase for residents don't sound like real concerns.

@jeremyleonbarlow 3 жыл бұрын

Chile I think is the best Tier A passport, because you can get it without CFC rules or much tax impacting you while you get your citizenship.

@raikey2176 3 жыл бұрын

Caribbean passports compliment my Philippine passport. They have the EU-Schengen area but lack the CUNA and rich Arab countries just like my Phil. passport. My Philippine passport have most of the free visa in Southeast Asian and African nations that most of the Caribbean passports don't have.

@hemantparakh6462 3 жыл бұрын

Kindly suggest a Tier B Passport plan providing an Automatic income of €25 continuously

@plumoyr7761 4 жыл бұрын

I agree with you. OECD countries are become like the old USSR. Moreover, for people who are open minded, life is quite good in some flat tax countries (Russia, Belarus, Kazakhstan, Mauritius, Mongolia, etc...) or other low tax/high personal freedom. In any case demographically most OECD countries are dying very rapidly.

@raulcruz6601 4 ай бұрын

Puerto Ricans have a unique opportunity for European passports. If you can certify you descend from a person born there in PR before 1898, you can apply and get a Spain passport therefore EU practically free😉

@sandymonteiro2719 3 жыл бұрын

TRY CAPE VERDE 🤷‍♀️ YOU MIGHT BE INTERESTED!

@christopherellis2663 3 жыл бұрын

Taxes paid: bed tax, vat/gst, there might be others

@fensmarkfarm 3 жыл бұрын

I have both US and Danish citizenship and since I speak Russian and am interested in the country I’m hoping someday to be able to move there and maybe get citizenship so that I have a good trifecta of passports. I’d be able to live in the US, EU and Russia.

@ashvoj 6 жыл бұрын

Great video. Would really appreciate it as well if you made a video on ways US citizen crypto holders can minimize paying taxes. Thank you!

@nomadcapitalist 6 жыл бұрын

Hello ashvoj, you can check out this video for starters: kzfaq.info/get/bejne/nt9ghc2nx7iUoGw.html

@sharmilasharma7952 6 жыл бұрын

Hey which is the best country to study and eventually get a job and become a citizen? BTW my background is in business

@cynthia8801 4 жыл бұрын

Sharmila Sharma Netherlands.

@ChartreuseStar 4 жыл бұрын

Where you're treated best.

@nomadkickbox4049 6 жыл бұрын

Tier B passports WITH LOW TAXES is way better than a HIGH TAXATION US Passport - HANDS DOWN!

@simeonyisrayiyl1501 5 жыл бұрын

I think it is easier for a real diplomat to agree with your estimate in here lol. Sorry for commenting a over year ago video again. I just enjoy watching your channel. It’s reminding me that, a man in UK complained about UK still allowing Caribbean passport to access UK on visa free, his complain was solely base on a news which reports an African women who had Dominica diplomatic passport to abuses her right of Diplomatic immunity. But the fact that, CBI is indeed strengthening Tier B passport, cuz investors are high net worth individual, they have no need to over stay in any country for illegal works. Then about having diplomatic passport to abuses a diplomatic immunity for involvement of corruptive activity, that can happen to any diplomatic passport holder, I am sure that there are more UK diplomats who find their way out base on abusing this right. Tricky case might be Canada, where there’s massive migrants from all over, granting Caribbean passports( or other CBI Tier B passport) visa free access, it is to have some of these CBI individuals to lives as a tourist in Canada, because these people have their relative in Canada, Canada cancel visa free privilege of Caribbean passport base on this phenomena, but I shall say, it’s the immigration philosophy of Canada itself being problematic, they want to encourage people to actually apply for their PR to live in Canada, they are aiming to increase population, hence now ready to welcomes even more immigrants, maybe then they can have good enough reason to imposes “citizenship based” taxation on Canadians, Of course they don’t want people to abuses visa free right to live in Canada, because in that case, it is discouraging people to officially immigrate to Canada, this immigration philosophy will eventually reduces the power of Canadian passport shortly, I am still spending most of my time in Canada now, I know how chaotic it is, it’s just messed up, it is the worst choice I made when I decided to leave the United State,I will leave this place in no more than three months, I am excited about it. Australia imposes universal visa system, so, doesn’t matter whether you are Tier A or B, their visa is easy to gain anyway, as long as you can prove that u r able to support your own travel.

@husseindiab1737 3 жыл бұрын

What about russian passport is it a tier b or a and it will become stronger or what ?!

@MegaBallPowerBall 3 жыл бұрын

hussein diab It's Tier C +. It can go anywhere except the western world.

@abdullahhakan1 3 жыл бұрын

If I had necessary amount to become citizen of eu or nearby countries, İ would have immediately immigrate to either Andorra, Lichtenstein, Luxembourg, Malta, South Cyprus, Costa Rica, Spain, Portugal, Belize. Most of the world population work and earn wealth in Far East, I can immigrate to Cambodia, Indonesia, Kuala Lumpur or much cheaper City in Malaysia or Taiwan. I am baptist with masters degree , turkish citizen.

@louiswong6206 5 жыл бұрын

what is tierB passport ?

@venusreena2532 3 жыл бұрын

kzfaq.info/get/bejne/aL-GnbKYudLZYpc.html

@cryoczar1238 6 жыл бұрын

Should I renounce my us or Japanese citizen ship, I'm 21 so I have 1 more year.... US forces you to pay tax based on citizenship, and Japan doesn't allow dual after the age of 22

@cryoczar1238 6 жыл бұрын

AlexNOSAM thanks man really appreciate the advice

@nomadkickbox4049 6 жыл бұрын

DUMP YOUR US PASSPORT! SAVE MONEY!

@jeremywright5036 2 жыл бұрын

Comes down to do you want to live in USA or Japan.

@toddshaw6457 5 жыл бұрын

I still get what's point. If you have a second passport, doesn't that make you a citizen? Why wouldn't a citizen pay taxes?

@cynthia8801 4 жыл бұрын

Todd Shaw no it doesn’t make you a citizen. At least not in the us.

@toddshaw6457 4 жыл бұрын

@@cynthia8801, the Nomad Capitalist gave up his citizenship. Just curious, all of you with multiple passports, how welcome are you in these countries?

@cynthia8801 4 жыл бұрын

Todd Shaw I only have one passport which I’ve only had for a few years. Most of the country’s giving seconds I don’t want. I could possibly get a UK passport due to mother but I’d rather have Netherlands’s, France, Switzerland, or Germany. And I’d be fine. But lucky for me schengen means I don’t actually have to switch.

@toddshaw6457 4 жыл бұрын

@@cynthia8801, good for you.

@bunnyunicorn5209 3 жыл бұрын

It is only 250K USD for Tukish RE investment and passport now. And Turkey is same as USA they tax you on your worldwide income

@marinangelov 4 жыл бұрын

I’m working on getting my UK citizenship.

@nomadcapitalist 4 жыл бұрын

Awesome, Marin!

@ekaterinavalcheva9025 5 жыл бұрын

Turkey isn't in the EU

@JeffsTrades 3 жыл бұрын

That's exactly what he said...

@dream.lifestyle 6 жыл бұрын

Australians are subject to worldwide income

@muzwot9603 4 жыл бұрын

What about carbon footprint?

@blackbirdx7777 6 жыл бұрын

Andrew I love your site but I think the biggest mistake is going the "one size fits all" recommendations - different strokes for different folks. Like the time you put Sweden as the #1 Passport in the world, and one day before they re-enact military conscription. Imagine if you have dark skin and some muslim/arabic name/surname with a Swedish passport, you think they are gonna let you through? What can be #1 for someone can be totally worthless to the next chap. Im a Tier A (EU) dual citizenship holder born in South America (Tier B). I have hard time to believe that EU is going to impose taxes on me because I reside on my Tier B country, I am a legacy of their colonial system. You are also confusing passport with residence regarding tax issues, they are two different concepts, except for USA and Eritrea. Keep up the good work and try harder, keep grinding. Cut the index BS and instead create products and solution packages for different profiles of people like you do with digital nomads. Too much rambling!

@theandrewhenderson 6 жыл бұрын

I actively opposed "one size fits all" solutions. People who pay me get super-customized recommendations, which are impossible to provide in a forum like KZfaq.

@mattyboyahoy2326 6 жыл бұрын

It’s only the “wave of the future” when you are of the world and support the world the world will always use and abuse

@lowella8600 5 жыл бұрын

Getting pretty frustrated after listening to a half dozen of your videos. You're pretty young for a, quote "expert" on the subject. You need to be quoting other experts as well as giving succinct anecdotal accounts of your own. These videos shouldn't be just "conversation" time or it shouldn't be if you want to really grow this channel.

@ChartreuseStar 4 жыл бұрын

🙄

@nkoonkukoo 3 жыл бұрын

Hi, I'm from the future, his channel grew to 200k, still growing.