by Micheal Davis, Banker Trust
Take a first-class vacation on us while getting a second passport at the same time!
The Dominican Republic is a beautiful, diverse and freedom-minded country in the Caribbean. It is only a short flight from the US or Canada and has numerous direct international flights from around the world, including Europe, Central and South America. We invite you to come vacation at a tropical all-inclusive resort on the beach for three-days while we process your application.
- The Dominican Republic is very close and easily accessible to those who live in the United States (it is only 3.5 hours from New York, or 2 hours from Miami), Canada and Europe (9 hour direct flights from many European capitals).
- The process is incredibly easy for you. Simply make three short vacation trips over a 6 month period to receive your passport.
- Getting a passport in the DR is cheaper than practically any other country in the world (see below).
- The DR only taxes its citizens on money earned in the DR.
Millions of people are disconcerted, dismayed, or outright disgusted at President Obama’s victory, and they sense a continued decline of civil liberties and economic opportunities.
The frustration and apprehension is understandable. We can’t begin to tell you how many emails we’ve received over the last several weeks, mostly from US citizens who have reached their breaking points, asking, “How can I get a second passport?”
A second passport is like an insurance policy. Rather than protecting you from risks of fires, floods, and fender benders, a second passport helps protect against sovereign risks.
Throughout history, as once powerful empires have slid into terminal economic decline, political leaders have routinely resorted to plundering their citizens: capital controls, exchange controls, price controls, and even direct confiscation of savings.
From Argentina to Greece, these same tools are being applied throughout the world today. A second passport gives you the means to defend yourself against these measures.
Predominantly, a second passport ensures that you ALWAYS have a place to go in case you need to leave your home country. Plus, it opens up new financial opportunities, making it much easier to establish foreign bank accounts to move your savings away from your home government’s thieving hands.
We recently learned from our sources on the ground that Panama is not granting US citizens second passports after those people have fulfilled the residency requirement. Is this the beginning of a new trend? Will other Americans be denied second passports wherever the US has a cozy relationship with the issuing government?
Many countries like Panama have residency requirements which take 5 years to get a passport. The problem is, as many US citizens have recently found out the hard way, anything can happen during those years leading up to passport eligibility. The solution: a legally expedited passport in 6 months.
If there ever was a need for another citizenship and passport, it is now. The idea that US citizens need to become a citizen of some other country simply to invest or bank abroad is unbelievable, and yet that is exactly where we are at the moment. In addition, matters will only get worse. The financially stressed US government will chase money and revenue from wherever it can.
The goal of FATCA is to identify US citizens with undeclared assets hidden in overseas bank accounts. In terms of banking or investing abroad, it is the bank or financial institution turning US clients away – not because it would be illegal in that jurisdiction to open an account for a foreigner (or American specifically) but rather to avoid any hassle or aggravation in dealing with the US government. The result is to get another citizenship and passport, or as the banks are increasingly stating, “take your funds elsewhere.”
If you don’t qualify based on these factors, in most countries, you can acquire citizenship following a period of prolonged residence. Among other countries, Australia, Canada, Hong Kong, New Zealand, the United Kingdom, and the United States, exchange residence rights for domestic investment. Eligibility also depends on your age, education, life skills, health, and other criteria. Your spouse and minor children can often accompany you, although in some cases they may be subject to a separate qualification process.
But there are only a handful of countries which offer official, legally mandated expedited citizenship and passports. The Commonwealth of Dominica, the Federation of St. Kitts Nevis, and the Dominican Republic.
Under Dominica’s (not the Dominican Republic) program, you may acquire citizenship and passport in return for a cash contribution in 2 months. Total costs, including all fees for a single applicant, come to about $105,000. Add $25,000 if you need a passport for your spouse and up to two children under 18. Dominican passport holders can travel without a visa, or obtain a visa upon entry, to nearly 100 countries and territories. You can also live or work in most members of the Caribbean Community (CARICOM), including Antigua, Barbuda, Barbados, Belize, Grenada, Guyana, St. Kitts & Nevis, St. Lucia, St. Vincent, the Grenadines, Suriname, and Trinidad & Tobago.
In the Federation of St. Kitts & Nevis, there are two ways to obtain economic citizenship. The most practical strategy is to make a direct contribution. Total costs, including all fees for a single applicant under this option, come to about $225,000 or $275,000 for an applicant with up to three dependents. It will take about 3 months. Alternatively, you may purchase qualifying property worth a minimum of $395,000. However, fees and taxes under this option are much higher than if you make a direct contribution. St. Kitts & Nevis passport holders can travel without a visa, or obtain a visa upon entry, to more than 130 countries, including nearly all of the 27 member countries of the European Union. You can also live or work in most CARICOM countries.
The least expensive option is to obtain citizenship and a second passport from the Dominican Republic. There are numerous promoters and facilitators which offer this service, but only a few can procure citizenship and passport in 6 months. For a total cost of $24,900 and the required documentation, plus three trips into the country, you can be a citizen with passport in 6 months.
With a second citizenship and passport you can potentially structure your life to pay near zero in taxes, divorce your government (expatriate) if you desire, or at the least have some semblance of financial privacy. The sooner you start the process, the sooner you’ll receive citizenship.
Please contact us below if you would like to learn more about this program.