36 UGLOBAL IMMIGRATION MAGAZINE
questions . Did the United States offer as much promise as before ? Was there still that enviable quality of life ? For some , those answers teetered on “ no .”
“ Americans should insure themselves and their families against a risk that may feel a bit hard to conceptualize : single-country residency .
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HOW AMERICANS CAN INVEST IN A SECOND PASSPORT OR RESIDENCY VISAS IN A NEW COUNTRY
But there was , and remains , a viable solution . In the U . S ., insurance companies will insure just about everything . It ’ s in this spirit that Americans should insure themselves and their families against a risk that may feel a bit hard to conceptualize : single-country residency . Fortunately , it ’ s actually quite simple .
This is the risk of only living in one country — of putting all your eggs in one basket , as the saying goes . It doesn ’ t have to be this way , as there is another , better way where you can have your cake and eat it too .
Americans can utilize the ever-emerging field of what we like to now call “ global mobility assets .” It ’ s a new term for familiar things — second passports , citizenship-byinvestment programs and “ golden visas ” — and some new ones that aren ’ t , such as wealth visas , visas for “ digital nomads ” and e-residency . Dozens of desirable destinations are opening themselves up to foreigners by offering these assets and , better yet , many of them are tailor-made for U . S . citizens , entrepreneurs and location-independent professionals because they have favorable tax regimes and investment returns .
Americans should no longer feel bound by their country of birth . They can move abroad and transform their Plan Bs into Plan As , hedge against the risk of single-country residency , and expand their entrepreneurial spirit with this fast-maturing asset class of global mobility capital . America will always be the land of opportunity , but there are other countries worth exploring too , either temporarily or permanently . The global mobility asset class opens the doors for this new adventure .
THE KNOWN OPTIONS :
Citizenship-by-investment For decades , starting in the Caribbean , citizenship-byinvestment ( CBI ) programs have been an option for people to either start new lives abroad or improve their passport power . Generally , through buying real estate or purchasing government bonds , these programs give investors second passports , new opportunities and increased mobility . They are common in the Caribbean , and a few countries in Europe — namely Malta and Montenegro — have also adopted them . Some Americans have viewed these CBI programs as beneficial to increase their passport power , or even to hold a new primary passport should they renounce their U . S . citizenship for tax or personal reasons .
Golden Visas Without granting full citizenship status , these programs , which also go by residency-by-investment ( RBI ), grant legal residency in a country , oftentimes in exchange for buying property . Portugal and Greece are among the best-known and most popular examples . Thousands have bought homes in those countries in exchange for the privilege of living in the EU or traveling around the Schengen Area . Sometimes these visas can be upgraded for full citizenship .
THE LESSER-KNOWN OPTIONS :
Citizenship-by-descent Many Americans may be surprised to know that their European-born ancestors , even as far back as their greatgrandparents , have given them citizenship privileges by jus sanguinis , or “ right of blood .” Countries where this is common , particularly as it pertains to a grandparent link , include Ireland and Italy , though many others offer it as a right bestowed by foreign-born parents to their U . S . - born children . For Americans , this right of blood is among the most straightforward and affordable ways to obtain a coveted EU second passport , which grants the privilege to live and work anywhere in the union .
Wealth visas Less advertised than Golden Visas , wealth visas are often a good global mobility solution for Americans . These visas are designed for individuals who can live of their wealth or pension without resorting to working in the host country . That wealth can be demonstrated by proving stable revenue sources , such as a pension , investments , bank deposits , savings and even income that ’ s earned abroad . Unlike Golden Visas , wealth visas do not require any upfront investment . Their processing times are also as fast , or faster , than most Golden Visas . Wealth visas are usually found in Latin America and Europe .
“ Citizenship-by-investment ( CBI ) programs have been an option for people to either start new lives abroad or improve their passport power .
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