Citizenship and Residence
Citizenship is a particularly important matter for our American cousins, who are taxed on their worldwide income no matter where they live. What are your options for renunciation of citizenship? What is the alternative? These are matters we have practical experience of and can advise on.
If you decide to stay where you are, having the paperwork in place for an exit strategy can help you sleep sounder at night. If there’s going to be blood on the streets, you want to watch it on TV not from your window. We hope the worst will never happen, but if it does, you can be sure at that point it will be too late for you to start thinking about second residencies and passports.
Our firm can help with:
Citizenship based on family connections:
Many people don’t even know they are entitled to a second citizenship based on their family situation. If your grandparent, parent, spouse or children were, are or will be foreign citizens, we can advise and help you get together the right documentation – and also warn you of potentially dangerous errors you could make.
Citizenship via residency:
Our firm can help you establish formal residency in one of several Latin American countries where we have expertise and excellent connections. It may not be necessary for you actually to live there full time. In as little as three years you may be able qualify for citizenship of that country. This route saves you a significant amount of money over economic citizenship. On the other hand, a lot can change in three years. This option is ideal for those seeking an exit strategy or ‘Plan B.’
This is the fast track to a legal second passport within a few months. It is generally of interest to clients with multiple millions available in liquid assets. The tax, asset protection and privacy benefits for such clients are normally substantial and almost immediate.