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This Citizenship Program is Failing - YouTube
Channel: Nomad Capitalist
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batu's citizenship by investment program
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is suffering it started last year when
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their economic citizens lost Visa free
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travel to Europe shenen area then it
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applied to all citizens this year they
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lost Visa free travel to the UK today
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I'm going to tell you my advice for Vana
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watu and what you can learn for that if
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you're looking for citizenship by
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investment first let's talk about what
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citizenship by investment is because in
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many cases it's actually not an
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investment but it is a way to get dual
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citizenship in a streamlined way really
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no matter who you are as long as you've
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got a clean background check citizenship
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by investment allows people to either
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make a donation to a country that needs
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the capital to build roads and schools
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and so in exchange for donation they
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Grant citizenship to either you or your
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entire family or some countries like
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vanat who have other options whereby you
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can invest in things like bonds other
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countries have real estate options which
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we generally don't recommend except in
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countries like tur turkey or
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occasionally s kits andas but the bottom
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line is you're putting money into the
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country either as a donation which is
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possible in vanatu or is an investment
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where they have newer options available
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and they're giving you citizenship
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without having to live there without
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even having to go there in a matter of
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months and so if you don't qualify for
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citizenship through your family tree if
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you don't want to move overseas if you
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don't have some you know reason or some
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way to get a second passport but you
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want that protection you can do it most
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of these CBI programs as they're called
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are in the Caribbean and they are a
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little bit higher level they've always
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been taken a little bit more seriously
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than Vana watu with our clients Vana
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watu is something that we uh recommend
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when someone wants a third or a fourth
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passport when there's a problem van watu
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is a bit more flexible to deal with but
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really I mean there are countries in the
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Caribbean that are more flexible to deal
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with and so I think the Caribbean
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program should stay doing what they're
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doing even though they've also come in
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the spotlight so far they've pretty much
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much maintain their visa free travel uh
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four of the five Caribbean programs
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still have Visa free access to the UK
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and those countries used to be part of
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the British Empire and yet a lot of
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westerners watching this think that if
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you have to get a visa to go to a
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country that makes your country some
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kind of pariah it doesn't there's no
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doubt that Vana watatu doesn't have a
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great reputation I don't really think
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anybody should be incorporating their
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company in vanatu even though it's
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tax-free I don't really think people
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should be you know banking in vanatu
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even though again it's like just
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everything's taxfree there the country
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itself if you want a place that's really
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laid-back and developing and you like
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that proximity in you know the South
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Pacific I mean that could be an
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interesting place to live I think
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there's probably better options whether
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it's for tax friendly living or just
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beautiful beaches that's closer to other
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places but if you want to be far away
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from it all except for Australia New
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Zealand it's a good place to live and
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you can get residents there uh but you
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know the country overall just has this
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reputation for like banks that really
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don't pay attention that much they're
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goinging to shape up that act you know
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zero tax just on absolutely everything
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if you have a van watu company like
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people don't want to open a bank account
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for it anywhere else it's just the
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country does kind of have of a a bit of
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a bad reputation but it's not because
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they have to apply for visas and so how
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good or bad a country's Visa free travel
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is depend on why you want that second
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passport if you want a second passport
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because you're planning on getting rid
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of your first pass passport you think
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there may come a time when your first
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passport won't work well having the
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ability to go to as many countries as
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possible is a good idea although if
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there's some kind of catastrophe going
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on in the world I doubt the first place
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you want to go to is London where if
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you're a vanatu citizen you now need a
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visa to uh to go to and so applying for
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visas is indeed less than ideal if
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there's only a few countries you want to
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go to I mean applying for a Visa that
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like Thailand or Indonesia or you know
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Mexico or something isn't really that
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difficult it's like the US and the UK
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Australia those are the more difficult
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ones although nean a watus can fly
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through Australia and New Zealand not go
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in but just fly through as a condition
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because it's kind of how they get to
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their country and so while we often tell
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clients like hey don't look at vanatu
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unless you really really have to for a
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passport if you're a more intrepid type
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there could be some value I want to say
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this with the condition that I am the
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goody tuo of the offshore business uh we
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really only want to work with people who
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are above board who you know file their
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taxes and if they don't file their taxes
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it's because they've left the tax system
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legally um people who keep their noses
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clean but you know there's a difference
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between someone who just wants to have
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far-flung options and someone who's done
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something wrong there's plenty of people
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who are in that former category and
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that's kind of where my advice to vanatu
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starts first thing they should do they
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they should apply a sort of trumpian
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vanatu first and they should say listen
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we are are going to talk to people about
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the value of vanatu the fact that we
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have if you're a citizen you have the
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ability to come and live here we don't
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apply pretty much any kind of tax it is
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kind of distant from the rest of the
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world it is a rather neutral country in
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that it has good relations with China it
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has on the Visa front not so good
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relations with the west but you know
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everyone from the US and other Western
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Powers have been there trying to get van
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watatu on board for certain things it's
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maintain this kind of neutrality that
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you know certain countries let's say in
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Latin America now in Africa and certain
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places in the Balkans like Serbia for
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example have done you know vanatu
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citizens can still not that this is on
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the top of many people's list but they
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can still travel visa free to Russia
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there's like that connection a lot of
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countries have kind of lost the ability
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to do that and so just kind of being in
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that League where it's you know part
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Western facing China Russia like vanatu
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has a certain neutrality and so if the
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European union doesn't want want
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vanatu certainly you should correct any
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issues where certain people are getting
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in that shouldn't get in because anyone
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else who's a van watu citizen doesn't
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want their passport associated with you
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know some money launderer or something
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so obviously you know due diligence
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should be done for the sake of the
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country not having the wrong people come
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in and yet you know there's money
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launderers who are US citizens and in
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many cases like they still get to travel
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they go to jail or they get sentenced
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happens they get out and they get a US
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passport and like no one's thinking they
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shouldn't have a passport heck maybe
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some of these Western countries should
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encourage like those people just to get
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out and go somewhere else but if I'm van
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watu if I'm any country I don't
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want uh you know bad people coming in
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but I'm not going to necessarily bow
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down to the EU and so if the stuff we
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just hey let's run a clean operation
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let's be organized let's not bring in
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criminals if that doesn't satisfy the EU
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if that doesn't satisfi the UK then it's
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vanatu first because you know the
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government of vanatu spends barely over
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half a billion dollars a year to run the
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country and in the last year or so it's
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seen revenues from its citizenship by
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investment Program start to drop
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dramatically uh in part because of all
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this kind of news and I'm sure a bunch
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of agents are saying oh you don't want
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to get this vanatu passport anymore uh
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you know it doesn't have Visa free
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travel to Europe well you know the
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Caribbean passports are no longer going
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to be able to Market they have Visa free
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travel to Europe under a deal that uh
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they're brokering with the European
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Union and so at a certain point you have
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to say you know what we'd like to be
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friends with everybody but if the EU is
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just not going to accept that we have a
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half a billion dollar a year economy and
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that this CBI became close to half of
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our Revenue at one point this is how we
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fund our country uh we're a small
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independent country we have a very small
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population we don't maybe have as many
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resources and we don't have some of the
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luxuries that those larger countries uh
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have have and so we're going to do our
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best but uh if you don't want us that's
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fine what I've been telling you for
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years is culture matters and it's hard
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for a lot of westerners to believe that
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there's not this culture of uber
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enforcement by the government everywhere
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in the world and yet I've been to Van
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too you pretty much just get left alone
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there there's just kind of a sleepy
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place and they're not running around
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trying to find people and bother people
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and that's probably hard to understand
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but you know what that's a fine way to
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run a country if that's how they want to
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run it I I don't think you can go there
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and just get away with anything but if
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you're just living your life in a
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peaceful way you're going to have fewer
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issues than someone might have in the
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growing police states of some of the
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Western countries and so if having that
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more Live and Let Live approach bothers
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countries that are moving the wrong
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direction the freedom index then I would
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lean in on being neutral I'd lean in
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being a freedom country I'd lean in on
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my geographic location because because
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you know a lot of people are looking for
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a place to go when the first starts
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flying and we've talked about places
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from Uruguay to maius Van watu may not
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be in the top of my list but guess what
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if they offer me a path to citizenship
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by making a donation and now just
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investing in bonds and I can get that
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money back in two three five years and I
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didn't have to go and live in Uruguay or
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maius and buy a property to get
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citizenship I could just you know have
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that option in my back pocket now I
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think that's interesting to some people
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and they're not going to be worried
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about everywhere that they can travel
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because they're looking at hey let me
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put $100,000 into a bond program and I
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hope I get my money back in three years
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and I'll keep the citizenship I'll put
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some bucks into fees into the local
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economy for the various agents and what
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have you but lean in on neutrality the
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Caribbean countries one thing people
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talk about is oh they're too close to
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the US and I don't think that they've
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absolutely gone along with everything
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the US wants them to do they are being
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more restrictive now there's a move to
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you know you know doing interviews for
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example in the Caribbean countries the
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price of St kitas has already got gone
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up some countries have said they're not
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going to raise the price others are
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talking about it so whatever you're
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going to do it's never a good day to
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wait when it comes to Second citizenship
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the terms always get more difficult the
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prices always get up but the era of
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invading countries has slowed down I
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mean it used to be like the United
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States would be invading here and
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invading there I mean talk about
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citizenship by investment Grenada um you
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know populism is the New World Order
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people don't want Wars obviously you've
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got Ukraine you've got Taiwan and
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people's radar screen like I don't know
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that like vanatu is really going to be
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in the crosshairs of a lot and so if I'm
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vanatu I have a passport that can you
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know people can travel around Asia which
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is kind of sort of in my backyard they
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can travel to Central America parts of
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you know South America and the Caribbean
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a few places in Europe Ireland is still
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Visa free it's an interesting country
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and I would say listen we we have access
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to all the non-judgmental countries and
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we're the passport for people who want
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to protect themselves and their families
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not through being able to travel
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everywhere in the world but through
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having this certain neutrality having a
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certain location and you know giving you
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a place that you can come to if if times
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get tough and if you want to go to other
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non-judgmental countries then you'll be
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able to do that with our passport and by
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the way you can always go and apply for
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the Visas of the countries that you can
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nothing nothing against I mean there's a
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French Embassy in in Port Villa you can
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go and apply for a Visa there you can
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use that passport elsewhere yeah I mean
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I think certain countries may be
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judgmental in terms of you're getting a
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Visa you know if you were to go to
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certain European countries and yet I
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think plenty of countries you know in
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even in Europe you know Norway or
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something it's like all right do you
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meet the criteria or do you not on top
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of that this is a passport you can get
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residence permits on and so are most
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countries in the world which are
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non-judgmental going to say ah you know
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we don't like this passport I can tell
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you from personal experience I'm not a v
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of watu citizen but I can tell you it's
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like okay this is your passport we're
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going to run you through the system I I
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I sat I got a residence permit not too
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long ago I sat right in front of the
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police officer he's running my name to
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the system okay you're good right they
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they run you through all the different
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systems that's really more important to
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a lot of the countries out there than
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what the passport is and so vanatu my
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advice is stick together with the other
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non-judgmental countries pitch that look
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at a country like Serbia that got
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together uh with a lot of other smaller
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countries and and built up their visa
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free travel and if you do that and you
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you know do stuff let's say through the
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United Nations and the sidelines of the
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general assembly and you you you do
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deals where you you know you get Visa
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free travel to Peru or something and you
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start adding some of those countries and
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you beef up that Visa free travel score
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so where you know the passports a
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reliable second third fourth passport in
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someone's portfolio it offers the
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benefits of having that access to your
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country when times get tough and and if
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you can increase the Visa free travel
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that that's the pitch I'm not saying
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it's my first choice I am saying
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reputation matters I don't want to be
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associated with something where there
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are problems and so I think absolutely
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van watu needs to get organized it just
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seems like a much more informal process
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how they process people to become
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citizens through the CBI program more so
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uh than the Caribbean get a formal
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process where bad people aren't getting
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in but beyond that if your reputation
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still is we don't like those people
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which maybe the EU warms them if they
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fix that process but I think you know
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going forward judgmental countries
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nothing wrong with you getting a
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residence permit or a citizenship there
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but you know they're going to look at
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these smaller countries and say why are
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you being competitive with us how dare
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you we're going to try and put you out
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of business wouldn't you want to have
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one foot on the side of the person that
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they're trying to put out of business
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like why are they trying to put them
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into business why don't these bigger
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countries want competition that to me is
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the pitch for vanatu reputation is very
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important to me uh but that aside I
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think there's some place in your
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passport portfolio for countries that
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just aren't that great for travel but
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you could use them as an actual place to
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go now if you're thinking oh that vanatu
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sounds interesting I still want to
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caution there's questions that should be
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asked for example if you go to let's say
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a bank account in Switzerland or some
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country and they ask you to list all
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your citizenships and vanatu goes on
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there you know it might raise an alarm
[866]
Bell and so you always want to consider
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various factors that's one thing we do
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at Nomad capitalist we help clients look
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at all the different options that's why
[875]
most companies help people get
[876]
citizenship in one two maybe five or six
[878]
different jurisdictions we've done it in
[880]
close to three dozen we've helped people
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move to dozens of tax friendly countries
[884]
Run the World open bank accounts and
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close to four dozen we have experience
[888]
with making this stuff all work together
[890]
and it's more than just getting a
[891]
passport you want to know the holistic
[893]
approach we've had people recently who
[894]
have been talking to me and saying I
[895]
wish I would have I wish I would just
[897]
paid you the first time I called because
[899]
learning this stuff the hard way was a
[901]
lot more expensive than getting a plan
[904]
made from experience so go to nomad.com
[907]
if you're looking for a second passport
[908]
if you're looking for a global backup
[912]
plan from your country we can help you
[914]
do that but you want to consider all the
[916]
unknown unknowns and it goes beyond just
[918]
getting a passport and it involves
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asking a lot of the right questions
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that's what we
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do
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