This Citizenship Program is Failing - YouTube

Channel: Nomad Capitalist

batu's citizenship by investment program
is suffering it started last year when
their economic citizens lost Visa free
travel to Europe shenen area then it
applied to all citizens this year they
lost Visa free travel to the UK today
I'm going to tell you my advice for Vana
watu and what you can learn for that if
you're looking for citizenship by
investment first let's talk about what
citizenship by investment is because in
many cases it's actually not an
investment but it is a way to get dual
citizenship in a streamlined way really
no matter who you are as long as you've
got a clean background check citizenship
by investment allows people to either
make a donation to a country that needs
the capital to build roads and schools
and so in exchange for donation they
Grant citizenship to either you or your
entire family or some countries like
vanat who have other options whereby you
can invest in things like bonds other
countries have real estate options which
we generally don't recommend except in
countries like tur turkey or
occasionally s kits andas but the bottom
line is you're putting money into the
country either as a donation which is
possible in vanatu or is an investment
where they have newer options available
and they're giving you citizenship
without having to live there without
even having to go there in a matter of
months and so if you don't qualify for
citizenship through your family tree if
you don't want to move overseas if you
don't have some you know reason or some
way to get a second passport but you
want that protection you can do it most
of these CBI programs as they're called
are in the Caribbean and they are a
little bit higher level they've always
been taken a little bit more seriously
than Vana watu with our clients Vana
watu is something that we uh recommend
when someone wants a third or a fourth
passport when there's a problem van watu
is a bit more flexible to deal with but
really I mean there are countries in the
Caribbean that are more flexible to deal
with and so I think the Caribbean
program should stay doing what they're
doing even though they've also come in
the spotlight so far they've pretty much
much maintain their visa free travel uh
four of the five Caribbean programs
still have Visa free access to the UK
and those countries used to be part of
the British Empire and yet a lot of
westerners watching this think that if
you have to get a visa to go to a
country that makes your country some
kind of pariah it doesn't there's no
doubt that Vana watatu doesn't have a
great reputation I don't really think
anybody should be incorporating their
company in vanatu even though it's
tax-free I don't really think people
should be you know banking in vanatu
even though again it's like just
everything's taxfree there the country
itself if you want a place that's really
laid-back and developing and you like
that proximity in you know the South
Pacific I mean that could be an
interesting place to live I think
there's probably better options whether
it's for tax friendly living or just
beautiful beaches that's closer to other
places but if you want to be far away
from it all except for Australia New
Zealand it's a good place to live and
you can get residents there uh but you
know the country overall just has this
reputation for like banks that really
don't pay attention that much they're
goinging to shape up that act you know
zero tax just on absolutely everything
if you have a van watu company like
people don't want to open a bank account
for it anywhere else it's just the
country does kind of have of a a bit of
a bad reputation but it's not because
they have to apply for visas and so how
good or bad a country's Visa free travel
is depend on why you want that second
passport if you want a second passport
because you're planning on getting rid
of your first pass passport you think
there may come a time when your first
passport won't work well having the
ability to go to as many countries as
possible is a good idea although if
there's some kind of catastrophe going
on in the world I doubt the first place
you want to go to is London where if
you're a vanatu citizen you now need a
visa to uh to go to and so applying for
visas is indeed less than ideal if
there's only a few countries you want to
go to I mean applying for a Visa that
like Thailand or Indonesia or you know
Mexico or something isn't really that
difficult it's like the US and the UK
Australia those are the more difficult
ones although nean a watus can fly
through Australia and New Zealand not go
in but just fly through as a condition
because it's kind of how they get to
their country and so while we often tell
clients like hey don't look at vanatu
unless you really really have to for a
passport if you're a more intrepid type
there could be some value I want to say
this with the condition that I am the
goody tuo of the offshore business uh we
really only want to work with people who
are above board who you know file their
taxes and if they don't file their taxes
it's because they've left the tax system
legally um people who keep their noses
clean but you know there's a difference
between someone who just wants to have
far-flung options and someone who's done
something wrong there's plenty of people
who are in that former category and
that's kind of where my advice to vanatu
starts first thing they should do they
they should apply a sort of trumpian
vanatu first and they should say listen
we are are going to talk to people about
the value of vanatu the fact that we
have if you're a citizen you have the
ability to come and live here we don't
apply pretty much any kind of tax it is
kind of distant from the rest of the
world it is a rather neutral country in
that it has good relations with China it
has on the Visa front not so good
relations with the west but you know
everyone from the US and other Western
Powers have been there trying to get van
watatu on board for certain things it's
maintain this kind of neutrality that
you know certain countries let's say in
Latin America now in Africa and certain
places in the Balkans like Serbia for
example have done you know vanatu
citizens can still not that this is on
the top of many people's list but they
can still travel visa free to Russia
there's like that connection a lot of
countries have kind of lost the ability
to do that and so just kind of being in
that League where it's you know part
Western facing China Russia like vanatu
has a certain neutrality and so if the
European union doesn't want want
vanatu certainly you should correct any
issues where certain people are getting
in that shouldn't get in because anyone
else who's a van watu citizen doesn't
want their passport associated with you
know some money launderer or something
so obviously you know due diligence
should be done for the sake of the
country not having the wrong people come
in and yet you know there's money
launderers who are US citizens and in
many cases like they still get to travel
they go to jail or they get sentenced
happens they get out and they get a US
passport and like no one's thinking they
shouldn't have a passport heck maybe
some of these Western countries should
encourage like those people just to get
out and go somewhere else but if I'm van
watu if I'm any country I don't
want uh you know bad people coming in
but I'm not going to necessarily bow
down to the EU and so if the stuff we
just hey let's run a clean operation
let's be organized let's not bring in
criminals if that doesn't satisfy the EU
if that doesn't satisfi the UK then it's
vanatu first because you know the
government of vanatu spends barely over
half a billion dollars a year to run the
country and in the last year or so it's
seen revenues from its citizenship by
investment Program start to drop
dramatically uh in part because of all
this kind of news and I'm sure a bunch
of agents are saying oh you don't want
to get this vanatu passport anymore uh
you know it doesn't have Visa free
travel to Europe well you know the
Caribbean passports are no longer going
to be able to Market they have Visa free
travel to Europe under a deal that uh
they're brokering with the European
Union and so at a certain point you have
to say you know what we'd like to be
friends with everybody but if the EU is
just not going to accept that we have a
half a billion dollar a year economy and
that this CBI became close to half of
our Revenue at one point this is how we
fund our country uh we're a small
independent country we have a very small
population we don't maybe have as many
resources and we don't have some of the
luxuries that those larger countries uh
have have and so we're going to do our
best but uh if you don't want us that's
fine what I've been telling you for
years is culture matters and it's hard
for a lot of westerners to believe that
there's not this culture of uber
enforcement by the government everywhere
in the world and yet I've been to Van
too you pretty much just get left alone
there there's just kind of a sleepy
place and they're not running around
trying to find people and bother people
and that's probably hard to understand
but you know what that's a fine way to
run a country if that's how they want to
run it I I don't think you can go there
and just get away with anything but if
you're just living your life in a
peaceful way you're going to have fewer
issues than someone might have in the
growing police states of some of the
Western countries and so if having that
more Live and Let Live approach bothers
countries that are moving the wrong
direction the freedom index then I would
lean in on being neutral I'd lean in
being a freedom country I'd lean in on
my geographic location because because
you know a lot of people are looking for
a place to go when the first starts
flying and we've talked about places
from Uruguay to maius Van watu may not
be in the top of my list but guess what
if they offer me a path to citizenship
by making a donation and now just
investing in bonds and I can get that
money back in two three five years and I
didn't have to go and live in Uruguay or
maius and buy a property to get
citizenship I could just you know have
that option in my back pocket now I
think that's interesting to some people
and they're not going to be worried
about everywhere that they can travel
because they're looking at hey let me
put $100,000 into a bond program and I
hope I get my money back in three years
and I'll keep the citizenship I'll put
some bucks into fees into the local
economy for the various agents and what
have you but lean in on neutrality the
Caribbean countries one thing people
talk about is oh they're too close to
the US and I don't think that they've
absolutely gone along with everything
the US wants them to do they are being
more restrictive now there's a move to
you know you know doing interviews for
example in the Caribbean countries the
price of St kitas has already got gone
up some countries have said they're not
going to raise the price others are
talking about it so whatever you're
going to do it's never a good day to
wait when it comes to Second citizenship
the terms always get more difficult the
prices always get up but the era of
invading countries has slowed down I
mean it used to be like the United
States would be invading here and
invading there I mean talk about
citizenship by investment Grenada um you
know populism is the New World Order
people don't want Wars obviously you've
got Ukraine you've got Taiwan and
people's radar screen like I don't know
that like vanatu is really going to be
in the crosshairs of a lot and so if I'm
vanatu I have a passport that can you
know people can travel around Asia which
is kind of sort of in my backyard they
can travel to Central America parts of
you know South America and the Caribbean
a few places in Europe Ireland is still
Visa free it's an interesting country
and I would say listen we we have access
to all the non-judgmental countries and
we're the passport for people who want
to protect themselves and their families
not through being able to travel
everywhere in the world but through
having this certain neutrality having a
certain location and you know giving you
a place that you can come to if if times
get tough and if you want to go to other
non-judgmental countries then you'll be
able to do that with our passport and by
the way you can always go and apply for
the Visas of the countries that you can
nothing nothing against I mean there's a
French Embassy in in Port Villa you can
go and apply for a Visa there you can
use that passport elsewhere yeah I mean
I think certain countries may be
judgmental in terms of you're getting a
Visa you know if you were to go to
certain European countries and yet I
think plenty of countries you know in
even in Europe you know Norway or
something it's like all right do you
meet the criteria or do you not on top
of that this is a passport you can get
residence permits on and so are most
countries in the world which are
non-judgmental going to say ah you know
we don't like this passport I can tell
you from personal experience I'm not a v
of watu citizen but I can tell you it's
like okay this is your passport we're
going to run you through the system I I
I sat I got a residence permit not too
long ago I sat right in front of the
police officer he's running my name to
the system okay you're good right they
they run you through all the different
systems that's really more important to
a lot of the countries out there than
what the passport is and so vanatu my
advice is stick together with the other
non-judgmental countries pitch that look
at a country like Serbia that got
together uh with a lot of other smaller
countries and and built up their visa
free travel and if you do that and you
you know do stuff let's say through the
United Nations and the sidelines of the
general assembly and you you you do
deals where you you know you get Visa
free travel to Peru or something and you
start adding some of those countries and
you beef up that Visa free travel score
so where you know the passports a
reliable second third fourth passport in
someone's portfolio it offers the
benefits of having that access to your
country when times get tough and and if
you can increase the Visa free travel
that that's the pitch I'm not saying
it's my first choice I am saying
reputation matters I don't want to be
associated with something where there
are problems and so I think absolutely
van watu needs to get organized it just
seems like a much more informal process
how they process people to become
citizens through the CBI program more so
uh than the Caribbean get a formal
process where bad people aren't getting
in but beyond that if your reputation
still is we don't like those people
which maybe the EU warms them if they
fix that process but I think you know
going forward judgmental countries
nothing wrong with you getting a
residence permit or a citizenship there
but you know they're going to look at
these smaller countries and say why are
you being competitive with us how dare
you we're going to try and put you out
of business wouldn't you want to have
one foot on the side of the person that
they're trying to put out of business
like why are they trying to put them
into business why don't these bigger
countries want competition that to me is
the pitch for vanatu reputation is very
important to me uh but that aside I
think there's some place in your
passport portfolio for countries that
just aren't that great for travel but
you could use them as an actual place to
go now if you're thinking oh that vanatu
sounds interesting I still want to
caution there's questions that should be
asked for example if you go to let's say
a bank account in Switzerland or some
country and they ask you to list all
your citizenships and vanatu goes on
there you know it might raise an alarm
Bell and so you always want to consider
various factors that's one thing we do
at Nomad capitalist we help clients look
at all the different options that's why
most companies help people get
citizenship in one two maybe five or six
different jurisdictions we've done it in
close to three dozen we've helped people
move to dozens of tax friendly countries
Run the World open bank accounts and
close to four dozen we have experience
with making this stuff all work together
and it's more than just getting a
passport you want to know the holistic
approach we've had people recently who
have been talking to me and saying I
wish I would have I wish I would just
paid you the first time I called because
learning this stuff the hard way was a
lot more expensive than getting a plan
made from experience so go to
if you're looking for a second passport
if you're looking for a global backup
plan from your country we can help you
do that but you want to consider all the
unknown unknowns and it goes beyond just
getting a passport and it involves
asking a lot of the right questions
that's what we