Why you should NOT get an EU passport

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Why you should NOT get an EU passport

Рет қаралды 56,744

Күн бұрын

Why should you not get an EU passport?
This question sounds a bit counterintuitive, but give yourself an opportunity to review all aspects of the matter before you jump to conclusions.
A lot of people seem to be wanting to get an EU passport at the moment. But, would that be the best option for people who live the Nomad Capitalist lifestyle?
Getting an EU citizenship seems like the most obvious choice when you're looking for that perfect second passport, but things aren't as black and white as they seem.
When you're looking into the perfect second citizenship, there's a lot more to consider than just visa-free travel, and Andrew addresses this topic in the video.
If you are willing to be patient, and invest a lot of money and time, deal with hassles, then it is a great opportunity for you.
Watch the video to better understand why getting an EU passport might not be a good idea for people who want to avoid all the waiting around, dealing with a significant amount of bureaucracy and being stuck in one country.
Want more insight? You will like our article on the subject:
nomadcapitalis...
Stay tuned for more videos and information about second passports, offshore strategy, reducing your taxes and going where you're treated best.
___
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.nomadcapita...
Our website: www.nomadcapita...
Our blog: www.nomadcapita...
Work with Andrew: www.holanomad.com/

Пікірлер: 123

@metronova94 4 жыл бұрын

I was born in Serbia and was adopted by an American mother and a dual American-Irish father. I obtained both US and Irish citizenships through my adoptive father and was able to retain my Serbian citizenship too. As a result, I have 3 passports/citizenships and lots of options :) 🇷🇸🇺🇸🇮🇪🇪🇺

@RishabhMazumdar 3 жыл бұрын

Man serbian passport gonna be one of the best after it joins eu

@gopherlee9427 3 жыл бұрын

Serbian passport good? I thought Scandinavia + Finland were the best in Europe.

@RishabhMazumdar 3 жыл бұрын

@@gopherlee9427 best passport in Europe is of Germany

@sebastiancastillo8512 5 жыл бұрын

Let's be real - if you find out that you qualify for an EU passport, just get it. Sure, it might be a bit of a hassle, but the earlier you get it out of the way, the better. I recently got my German passport and plan to head to Spain pretty soon. Freedom of movement within the EU is a godsend!

@AliClay 5 жыл бұрын

That for me is the biggest advantage of EU passport. The freedom to live and work in all 28 EU-Member states + EEA states of Norway, Switzerland and Iceland.

@therevolution91 2 жыл бұрын

@@AliClay Can I do that also as a Swiss citizen? (living & working in the EU) What about Hungary?

@grassytramtracks Жыл бұрын

@@therevolution91 yes, Switzerland, while not in the EU or EEA, is closely integrated and Swiss citizens can live or work in any EU or EEA country and Hungarian citizens can live and work in the EU/EEA/CH because Hungary is in the EU (unless the EU kicks them out)

@MichaelJLambie 5 жыл бұрын

It looks like the pictures behind Andrew are dancing a bit

@CO84trucker 4 жыл бұрын

My parents came from Austria and Poland... I'm currently in the process of confirming my citizenship by descent/ancestry in both countries and thus getting passports for both countries. 🇵🇱🇦🇹

@fredsmith1813 6 жыл бұрын

As for bureaucracy try Australia ! The red tape matches the ridiculously high prices

@leoncutajar1369 4 жыл бұрын

Australia is not a bad as many EU countries for bureaucracy but the prices are pretty high.

@timlinator 7 жыл бұрын

I'm dual citizen of USA & EU (Ireland) with both passports.

@gu3sswh075 4 жыл бұрын

Bob Minihan no more EU for you

@timlinator 4 жыл бұрын

@@gu3sswh075 I'm an EU citizen as an Irish citizen.

@timlinator 4 жыл бұрын

@Jay Doubleyhoo The passport costs abut 100 Euro that's the membership fee. USA passport cost about $100 that is the membership fee.

@RishabhMazumdar 3 жыл бұрын

@@timlinator hi buddy can i live permanently outside of Ireland after becoming an irish national without losing my Irish nationality or without paying taxes in both the countries pls do reply

@timlinator 3 жыл бұрын

@@RishabhMazumdar Yes, Irish law doesn't require to remain in Ireland or pay taxes on money earned outside Ireland.

@mycommentsalwaystrue 7 жыл бұрын

Wait.. Where can I make 20% on construction loans?

@josl1694 5 жыл бұрын

where is that place???? my heart stopped beating for a second

@leozanna2861 7 жыл бұрын

Hi Andrew, what place would you choose for a stock market investor to control his portfolio remotely?

@ludwigvonmiseswasright4380 3 жыл бұрын

Peter schiff chose pietro rico, no capital gains tax.....

@vipdemand5965 3 жыл бұрын

@@bobdobalina838 not only that if anybody give you a correct answer he will delete it asap, it basically proves not to trust a guy like Andrew

@michelecarriepardee6959 6 жыл бұрын

Third option to getting an EU passport is Juris Sanguis. Of course qualifying is pretty much like hitting the citizenship lottery. If you are one of the lucky few, it could take as little as several weeks to have an EU passport. N.B. Expect to jump some hoops.

@grassytramtracks Жыл бұрын

Indeed! I'm a British citizen and have a French mother, all I'll need to do is go down to the Embassy with my documents proving that I'm a French citizen, I'll apply in about 15 to 30 minutes, and it'll be all sorted. All I'll then have to do is wait for it to be made and I'll then just go down to the nearest honorary consul to collect it after about 6 weeks and I'll be able to avoid the hurdles against travel and, more critically, work and life in the EU that have been erected

@chrisanonymous544 7 жыл бұрын

if you have a irish grand parent ireland citizenship is cheaper. it allows dual citizenship. not sure if you have to pay irish taxes no matter what. i see someone said the same below. u can get a italian passport if you can trace your italian family to a immigrant grand parent.

@lagunacat 6 жыл бұрын

I agree with Matt. You are giving out misinformation by saying there are only two options for getting an EU passport. I spent $300 and had my EU passport within a year. You are too focused on the “buying” aspect of a second passport. Also I can do more with my EU passport than the US passport like visit Vietnam without a visa. Can’t do that with US. I can travel all around Europe with only my ID card. There are many advantages and the ego thing is far down the list.

@jguillermooliver 6 жыл бұрын

and how´ve you got your passport with $300???

@kenlieberman4215 6 жыл бұрын

Most countries guarantee repatriation with 1 grandparent; some will go back further. So, lets say a grandparent emigrated after WWII, you're pretty much guarenteed a passport, and you have the benefit of a natural tie. Being a Son of the Revolution, is not an asset if you are looking to leave.

@NotShowingOff 6 жыл бұрын

So if AH made a video on how to reduce capital gains tax after selling a multi-million dollar business, would you feel you could identify? My point is blood origins are some of the things wrong with our world. We are judged by our ancestry. Congrats on the passport. But it’s not feasible for vast majority of people.

@theandrewhenderson 6 жыл бұрын

It sounds like you have a solution you're happy with. I'm sorry you don't identify with our channel or our mission, and I hope you find someone who can better serve you.

@jqueryrocks 5 жыл бұрын

@@jguillermooliver that was a shitpost, the $300 is a fucking passport application fee, he is a EU citizen already.

@Captainnationalexpress247 4 жыл бұрын

Nope, I usually allow the EU Passports for me to keep for the future of Global Citizenship Matters. When it comes to the European Parliament, I take the exclusive membership of the European Union Passport because it's 100% more powerful, productive, official, invincible, and important than just without it and non European Passports. Countries that are not a official member of the Parliament are the wast of time of being a trouble hasstels in the push over limit. It's the destiny of the outsiders. Which is bad. nonsense, and unpredictable. They usually do things the hard way of surviving the game. Lose of Failing and destine to stay behind. Insiders are due overs and they doubt have to worry about a thing when being a member of the bosses and Leaders for the future of being the greatest of all time. Andrew Handerson. You reared my mind on what I really want in the Global National Agency. You got it ,bro. Thanks.

@sarowie 4 жыл бұрын

I suggest checking ancestry. Yeah, that is basically jumping trough the hoops, but those are pretty straight forward.

@Glow0110 7 жыл бұрын

It's rough because it doesn't seem like there are any other options than the ones you mention above? I love Europe, and I want to have one of my home bases there and travel around, but it doesn't seem like there is any easy way to stay in Europe unless you get residency / citizenship in one of the countries...

@650tonyd 6 жыл бұрын

so if i get my italian passport through blood do i have to renounce my U.S citizenship?

@nomadcapitalist 6 жыл бұрын

One way to be sure: nomadcapitalist.com/shop/nomad-strategy-call/ :)

@-cat8491 6 жыл бұрын

No!

@L-mo 6 жыл бұрын

No, you can have dual citizenship

@anneofgreengables1619 3 жыл бұрын

No.

@dannysze8183 4 жыл бұрын

interesting. I got a uk passport and hong kong pr. I want to split my time between hong kong and Gibraltar. both cities are comparatively low in tax. the problem of eu is that they have a very high tax rate because of their social benefits. if you are millionaire, you would carefully think about it.

@fredsmith1813 6 жыл бұрын

EU passport the best in the world . I will be using my UK passport for toilet paper

@amir5593 4 жыл бұрын

because of tax rate? or you see other downsides?

@abdullahhakan1 4 жыл бұрын

During 1970's we , both of my turkish passport holder parents were Medical doctors with gynecology, pediatrician specialties and with nice wages we could purchase whatever we could; brand New cars , foreign made toys, New and expensive clothes, Private Schools' tuition and fees without any hassle in Ankara Turkey. But after turkish Governments investments in 590 water dams, 3600 kms of motorways connecting 23 cities in Turkey, civil engineers and construction company owners have accumulated enormous wealth in Turkey, some of them immediately have left to become Paris France citizen, Cem Uzan by purchasing 20 million euros 5+1 apartment in 1st arrondissement nearby the Seine river. Caroline Koç, wife of Mustafa Koç had got her inheritences from Koç Holding , the biggest holding in Turkey and had left İstanbul to Miami Florida with billions of usds. We, parents are pensioners and due to huge devaluations in turkish lira, my parents cannot afford to purchase New cars, renovate our apartments. Suzan Sabancı owner of Akbank İnc had decided to become Malta citizen instead of everytime taking 20 days tourist visas and give all your credentials in person to EU consulate which is cumbersome. Suzan Sabancı has 500 million USD net worth , CEO of Akbank İnc.

@floriandietsche9180 6 жыл бұрын

I have a German passport since I've been born here. Since the German passport is the strongest after Japan and Singapore, would you think that it would make sense for me to obtain a second citizenship at all? I've also heard from other people that you have to give the German immigration authority a really good reason why you need the other citizenship and why you should be allowed to keep the German one because Germany apparently allows dual citizenship but isn't the biggest fan of it.

@troytrey 4 жыл бұрын

Florian Dietsche Germany doesn’t allow dual citizenship less the other passport is a European Union one

@alvarob2443 4 жыл бұрын

Ive got colombian passport, spanish passport and soon british passport.

@marinangelov Жыл бұрын

I already got an EU passport. Now I'm planning to get a UK passport as well.

@PasswordHackerz 7 жыл бұрын

What if you are already european and have an italian passport, should you keep it?

@omarali4590 7 жыл бұрын

Superhero ULTIMATE YES of course, this is about getting a second passport. Eu nationality is one of the best in the world.

@MegaShredder101 7 жыл бұрын

How hard is it to get a Spanish or Portuguese passportif you can prove that you have Sephardic roots?

@MegaShredder101 7 жыл бұрын

Pepe Cantero I don't practice Judaism but part of my family was exiled from the Iberian peninsula long ago who were Jewish. They are ethnically Sephardic but don't practice the religion.

@jman6866 7 жыл бұрын

If you are from a Hispanic country, it is not too difficult to get Spanish citizenship, i am not saying it's easy, but easier than other EU countries.

@omarali4590 7 жыл бұрын

MegaShredder101 Actually Sephardic Jews are eligible of getting Spanish or Portugues nationality, even Moroccan citizenship.

@ricardofilipe5204 6 жыл бұрын

I can help.. contact me.

@jordisolsonasanjuan 6 жыл бұрын

MegaShredder101 There’s a new recent Spanish law which was passed less than half a year ago which says that if you make an OFFICIAL family tree and prove that you are a REAL Sephardic descender, then the Spanish nationality must be given to you, and consequently the Spanish and EU citizenship. (It’s very, very, very hard to prove you’re a real Sephardic descender) I wish you good luck!!!

@samsoOoma2009 7 жыл бұрын

Your videos are very useful and I feel I found you in the right time 😊thanks for all your advices and I tell you now ;it's given me more clarity of things I wanted to do or know , thank you very much

@nomadcapitalist 7 жыл бұрын

Thank you!

@sh9052 7 жыл бұрын

kim joice are you serious ? you take our money then you gone.

@mikenephilly 7 жыл бұрын

I just reported their post as unwanted commercial spam.

@Jose-bh6on 5 жыл бұрын

Please change your camera, the warping effect is weird.

@ismailtezcan8295 7 жыл бұрын

Do you have a second passport for yourself ?

@luckyyang7173 6 жыл бұрын

Great video. Can you do a topic on the best place to incorporate or register sole prop Internet business.

@nomadcapitalist 6 жыл бұрын

Thanks for commenting :) We have noted your suggestion.

@lorenzosorrentino1614 3 жыл бұрын

Hi I’m an Italian born national but living in the US , I became a US Citizen in 1985. I heard traveling to Europe will now require a visa, what must I do to once again have an Italian passport??

@orenda3696 3 жыл бұрын

If you never formally renounced your Italian citizenship, the Italian government still thinks you're an Italian citizen. If that's the case then just apply for a new one at the Italian embassy.

@vipdemand5965 3 жыл бұрын

All you have to do is provide your Italian birth certificate and any proof of being Italian to Italian embassy to get a new Italian passport

@theswinebutcher9256 4 жыл бұрын

I'm a american,my,grandfather Is from Portugal I want my citizenship there my grandmother's dad is from Germany I want one there too to travel, live, get any benifits there of

@bibuphuket 7 жыл бұрын

Disagree Andrew. IF you could have taken EU citz through blood, you would have. You took a Comorian Passport because you could "buy" citizenship. I have 3 citizenship and 2 are EU. You don't know what will happen in the future and I feel well covered by having 3 citizenship. I have had no issues with taxes and I would say the benefits are WONDERFUL holding 3 passports including 2 EU. Hoops are everywhere.

@sh9052 7 жыл бұрын

Matt Matt pls tell me , how can I get passport in Germany ? if I open restaurant in Germany , can I qualify for German passport ? Thx.

@fermainjackson2899 7 жыл бұрын

Second Coming as long as you have enough money you can do it. check out the website of that country immigration authorities to find out or get a lawyer...

@matiasdirico4424 7 жыл бұрын

Matt Matt I also have 3 nationality 2 european

@runningfromabear8354 6 жыл бұрын

+Matt Matt - is it weird having 3 passports? I'm eligible for a third passport and I've been thinking about doing it. I'm a student. Money is tight and I'm already carrying British and Canadian passports. If Brexit happens, I'm thinking I might want to get an EU passport and I can do that with Ireland. But I'm just not sure if it's worth it. Trying to find info on three or more citizenship's is proving difficult. Are there problems I haven't considered? What's the downside to this, aside from being money I don't really have right now.

@653j521 6 жыл бұрын

The question I have is what happens if all your countries are in a war (I'm thinking about WWII) and are drafting? I would guess you would be a very popular person. :) You could probably choose where to volunteer or you could see which of the three had the longest reach to drag you back from another country. And you might find out if they can make you as a soldier renounce the other citizenships or go to jail. There's no telling what sort of restrictions any nation will put on its citizens and resident noncitizens in peace, let alone in war. You not only have the privileges of each nation but its responsibilities. With international data, the idea that you will always be able to use a different passport to escape or travel somewhere forbidden by the other country might not be true. And considering yours are Britain, Canada, and possibly Ireland, they might cooperate in putting you in a vise. :) I don't know if having a lot of passports will make you a target with border security but they could consider it at the least suspicious to have more than two and keep a closer eye on you. Two is normal. Three starts to look a bit shady, as if you are working the black market, interested in tax evasion, or are involved in terrorism or something. But...that might be just my own feeling and nobody else's. I just wouldn't want to be put on the do not fly list because I wanted to collect a large set of citizenships. There are smarter things to collect.

@avatara82 5 жыл бұрын

Why would anyone want a passport of a place they don't live in...

@wqmf9356 4 жыл бұрын

why EU giving these passports to people we don't want here

@AnissaMadjer2359 3 жыл бұрын

Because of Brexit darling it is lot more easy if you are British and have Irish ancestor its all in your advantage you will have free movement in the all EU countries no visa specially if you spend every year holidays in Spain or France if that can make any sense:):)

@vipdemand5965 3 жыл бұрын

For so many reasons, if you're wealthy you would definitely know

@jordisolsonasanjuan 6 жыл бұрын

You’re NOT right. To have the eu citizenship you just must have the citizenship of an eu member state. Each member state has its own policies concerning how to get the country’s citizenship. The eu does NOT give the citizenship because it can’t do that, it’s member states which give theirs and in consequence, the EU’s.

@anneofgreengables1619 3 жыл бұрын

that’s right and each country has its own requirements for citizenship including languages.

@khalidnadiif 5 жыл бұрын

1- Wat are European countries that allows us to travel & stay at our hometown while citizing??? 2- And then coming back to Europe country for check up???

@bennyavina8799 5 жыл бұрын

I'm lucky I hold United States and Spanish passport

@alsepu6452 5 жыл бұрын

We're you born in Spain? If not, how did you get it?

@abdullahhakan1 4 жыл бұрын

Turkey's Water dams builder construction holding Dogus Holding İnc owner Ferit Sahenk from Niğde Turkey, had decided to open up, inaugurate big, joyfull Nevada Las Vegas Restaurants employing hundred USA staff and become American citizen in tax haven Zone of Nevada.

@rexthefrenchie8568 6 жыл бұрын

i want a french passport...lol

@godwinyo5206 4 жыл бұрын

Sadly, Taxes in France are so high

@shaddyhacker 7 жыл бұрын

If you're a US citizen just keep it! It's not that bad.

@shaddyhacker 7 жыл бұрын

I believe green card doesn't mean a US passport right?

@solid7468 7 жыл бұрын

I gave up mine in 2009

@shaddyhacker 7 жыл бұрын

Where are you from? Gave up because of FATCA and tax issues?

@solid7468 7 жыл бұрын

shaddyhacker I live in Australia

@solid7468 7 жыл бұрын

Paying taxes for nothing

@ajl1239 6 жыл бұрын

If you can take EU citizenship by blood, you should definitely do it. I did this -- and now have both U.S. and EU passports. I could not care less about rich people trying to get an EU passport -- glad they have to deal with hassle. Citizenship shouldn't be for sale!

@gurvirgill7956 6 жыл бұрын

ajl1239 citizenship is a man made concept. Being born in a shitty country shouldn't limit you as a human

@653j521 6 жыл бұрын

Someone could help fix up their country and show they aren't limited as a human. :)

@NotShowingOff 6 жыл бұрын

With shit like this, I’m glad Europe gets Syrian and afghan migrants. Gets you off your high horse.