Flag theory- the best countries for a second citizenship/passport

[fireplay]

Hey everybody so i was hoping to get some more input on your ideas experiences and knowledge about obtaining a second dual citizenship and the strategies one can take to plant this flag...crucial especially for Americans. For me personally I am looking into ancestry...as my great grandparents were born in Lithuania...an EU member. My problem is Only under rare strict guidelines does Lithuania allow dual citizenships. My great grand parents had to have had citizenship before 1940 and left after 1940...this is soviet occupation stuff. I am not ready to renounce my US citizenship, which would make getting my lithunian passport pretty easy and cheap.

I am looking at Paraguay Uraguay Equador Dominican Republic...etc....i am not looking for fast track economic citizenship...I can't afford it....something that is under 20,000 usd and the 3 to 5 year time range.

What countries do you suggest? Setting up a small company opening a bank account etc?

Also I get email blasts from sites like nomad capitalist...flag theory, sovereign man...and I assume that eventually I will have to hire some sort of consultants to facilitate all this...but my goal is do as much of it myself. I don't need or want a $2000 30 minute skype meeting to be told what my best country options are and then can pay another 10 grand for access to their concierge retainer services including lawyers document procurement form translation and submissions, existing agency relationships and step by step instructions like...'now it's time to get your birth certificate and police records apostilled'

I will pay for the lawyer guys when I feel like it becomes an absolute must for greasing wheels of bureaucracy or whatever.

[dbrenn]

With only $25,000, buying a second citizenship as an investor would be beyond your reach.

Other options take a lot of time, or require special skills, r marriage, so as to gain Permanent Residency and citizenship later on.

I'm originally from the UK. but naturalised as a citizen of both Thailand and Australia without losing my UK nationality.

My Thai citizenship took over 12 years through the naturalisation process (including qualifying and waiting periods): 3 years non-imm visas + 1 year wait for PR + 5 years spent as a PR (waived if you are married to a Thai now) + 3 years wait for citizenship.

My Australian citizenship through the naturalisation process was quicker: 1 year wait for the visa + 4 years as a PR + 6 months wait for citizenship = 5.5 years BUT I had a special skill that got me the PR in the first place.

Nomad Capitalist is factually wrong on a couple of areas - the site says, for example, that getting a passport with limited visa rights (like a Thai one) will restrict your freedom, which isn't the case - you simply swap passports after leaving Thailand and use the one the allows freedom of travel to arrive at your destination. The site also says that Thai citizenship is impossible to acquire, which also isn't the case. The site also says that Australia is impossible to get into, is xenophobic and not worth going to, which is untrue. It's great to have a country like that as my plan B.

My advice is to study the rules and apply yourself. All agents do is apply on your behalf, taking a hefty fee in the process. They don't get you any short cuts, which are in any case illegal and would likely result in future revocation of your citizenship or worse.

Edited December 6, 2015 by dbrenn

[fireplay]

This is great man and congratulations on your flag plants.. and thank you for concurring about that consultancy fee being unnecessary.

I have pretty much given up on Thailand citizenship...as even though my visa situation is non immb, it must be reapplied for every year...unfortunately getting the extension for me isn't an option. In terms of setting up a company in Thailand...ok...i need 60k usd....and s.s. payments on 4 thai people...ok this sounds again very expensive....

So what countries can we do this in? Columbia? Paraguay? I really want 2 or 3 passports but i CANNOT afford economic citizenship...meaning I can't pay the 75k usd-500k usd that countries who offer this quick easy and EXPENSIVE solution tout.

Where do we go? I can post up anywhere as a digital nomad...but my income is what it is...and it won't increase anytime soon.

Edited December 6, 2015 by fireplay

[dbrenn]

This is great man and congratulations on your flag plants.. and thank you for concurring about that consultancy fee being unnecessary.

I have pretty much given up on Thailand citizenship...as even though my visa situation is non immb, it must be reapplied for every year...unfortunately getting the extension for me isn't an option. In terms of setting up a company in Thailand...ok...i need 60k usd....and s.s. payments on 4 thai people...ok this sounds again very expensive....

So what countries can we do this in? Columbia? Paraguay? I really want 2 or 3 passports but i CANNOT afford economic citizenship...meaning I can't pay the 75k usd-500k usd that countries who offer this quick easy and EXPENSIVE solution tout.

Where do we go? I can post up anywhere as a digital nomad...but my income is what it is...and it won't increase anytime soon.

That's a tough one. I don't know about those South American countries, but I'll bet that they are not prepared to dish out citizenships to people with only $20k. Nor anywhere else, for that matter.

With insufficient cash for an investor visa, then you next best bet would be to try to gain residency of a country, temporarily, then later on permanently. After all, you want to live overseas as a digital nomad, and you don't want to lose your US nationality. Before I became a citizen of Thailand or Australia, I had to live as a resident in each country for long periods, and satisfy various requirements.

Some places are easier than others to stay - Cambodia, so I've heard, allows people to stay for a year, with easy renewals, simply by paying a fee. The Philippines, likewise, allows one year visas to anyone who has $20k to deposit. Other countries may have similar schemes. Thailand, for example, offers a 'Thailand Elite' visa for anyone at a price of 500,000 Baht. It allows you to come and go as you please for five years, with no questions asked, with a one year entry permit each time you arrive. No access to citizenship, but five years is a long time.

Flag planting, if you are not seriously cashed up, involves jumping through lots of hoops, marrying and/or having skills, and staying put and/or paying local taxes for prolonged periods of time.

Edited December 6, 2015 by dbrenn

[fireplay]

Right. So there are a couple reasons to have a second passport. For Americans, it's about opening offshore accounts...getting involved in international brokerage or investment firms, and diminishing the tax burden....

But there are trade offs.

To renounce a US citizenship requires bravery...And ya this OP isn't about being cashed up.

FYI from what I see Paraguay and the Dominican Republic are 2 relatively affordable citizenships as I can see.

[fireplay]

Paraguay is a $5000 usd deposit into a bank for 5 years...not even money spent...am I missing something? The Dominican Republic could be obtained within 3 years and 7000 usd...am I wrong? What about Equador? I understand its about 25,000 usd bank account...again money invested not spent...and about 5 years.

Where else?

[Jingthing]

Paraguay is a $5000 usd deposit into a bank for 5 years...not even money spent...am I missing something? The Dominican Republic could be obtained within 3 years and 7000 usd...am I wrong? What about Equador? I understand its about 25,000 usd bank account...again money invested not spent...and about 5 years.

Where else?

Ecuador isn't selling passports.

Yes you can get permanent residency with such a deposit and that does provide a path toward potential citizenship, and both involve significant time of residence there.

My impression is that the choice of citizenship is not very usual for those on residency, not sure exactly why. But forget about Ecuador for easy and cheap new passport.

Next ...