The time to consider another passport is right now
The thought of attaining a second citizenship has become more appealing to folks all over the world. With the existence of countries that don’t tax income, wealth, capital gains, and inheritance, it makes sense that many Americans, Canadians, and Europeans, are acquiring second passports. Holding two passports or residencies provides you with additional security in all aspects of your life –financial, residential, business and work, safety, and travel.
Right now, folks ranging from young entrepreneurs to retirees are moving to foreign countries for various reasons, whether it is to live comfortably at a low price, to escape the economic hardships in the United States, or just to experience a new culture. For a majority of countries, it is not necessary that a second passport be obtained in order to live abroad. Instead, a person may acquire a residency card, allotting a specified amount of time for his/her stay in that specific country.
Furthermore, with the increasing amount of uncertainty and unfamiliarity floating throughout our nation, the best way you can prepare is by having options. Many of us want options or a Plan B, but many never take the next step. If you’re reading this, you probably aren’t the type to idly sit back and wait; you’re the kind of person who is ready for whatever comes next by being prepared. And right now there is an opportunity for to take that next step forward. Read on to learn more.
Why A Second Passport
Acquiring a second passport is like opening the door to a whole new world, quite literally. Opportunities increase exponentially when you have two citizenships, ranging from traveling to working. Some advantages include:
1. Have the freedom to work and live in another country
2. Enter a country visa-free, encountering less limitations than those who enter on a visa
3. Avoid potential governmental restrictions and limitations from birth country for citizenship on travel, investment, and international money management
4. Avoid limitations on property ownership by foreigners in some countries
5. Open a bank account in another country
6. Prevent negative judgments and attitudes if birth country of citizenship is disliked
7. Escape potential acts of terrorism specifically targeting citizens of birth country of citizenship
8. Have a place to reside in case birth country of citizenship experiences hardships and political instability
9. Travel to countries that birth country of citizenship may prohibit its’ citizens from visiting
10. Experience greater flexibility, privacy, and control of life
You also may find that with a second passport or residency, you are no longer treated as a tourist, but rather a citizen. People may be more welcoming and accepting. Additionally, locals may not try to overcharge you, knowing that you are not some naive one-time visitor who can easily be duped. Feelings of additional support and security are instantly accompanied by personal and financial freedom.
Obtain a Second Residency Today
Undoubtedly, there are many advantages to having access to another nation. Not only are you presented with many more opportunities with regards to travel, work, financial measures, etc., but you also develop a stronger sense of security. As taxes increase, as pensions quickly diminish, and as the desire for comfortable living at a great price becomes greater, many people are emigrating from the United States, Canada, and Europe and obtaining a second passport.
Furthermore, some expats will chose to renounce their home country citizenship and can be exempt from paying taxes in their home country and even possibly in their second country of citizenship, ultimately leaving them tax-free. These expats are opening a door to a new freedom that provides them with legal tax-reduction, privacy of travel, and a plethora of various opportunities.
But, be sure to act fast! More than any other country, the United States is realizing the threat of losing its citizens to other countries and is putting pressure on these countries to minimize, and potentially discontinue, the programs. While hypocritical at best, the reality is a likely wave of more restrictive legislation going forward.
Hemispheres Publishing continues to stay at the forefront of programs and possibilities available for people desiring a 2nd citizenship. This is a great opportunity for you and your loved ones to become international residents. The world is yours, now it’s your time to explore your options by reading on.
Teak for Residency Program in Panama
In 2012, President Martinelli of Panama opened the doors to foreigners with the Friendly Nations Visa (Decree 343), the highly sought after fast track to residency. By implementing this decree, his intent was to continue the growth of the booming economy and work force in Panama by granting permanent residency to those with professional and economic ties to this nation. Unlike many residency program that require you to spend hundreds of thousands dollars, or for you to live in country for months at a time, this residency is affordable, and easy to maintain.
Because of its ease and quickness, this decree has appealed to many folks who are looking to either relocate/retire to Panama, or to those who are wise enough to have a Plan B in case they need an escape from their home country. And everyone knows there is no better place to escape to than Panama. Known as the “Miami of Central America,” Panama has become one of the most popular countries in the region for expatriation. Home to attractive investment opportunities and tax incentives, a world-renowned banking system and, of course beautiful Caribbean and Pacific shorelines, Panama really has become a top haven for many.
If you have been thinking about diversifying and having options, this Teak for Residency Program is well worth considering.
Obtaining Panamanian Residency through the Teak for Residency Program
As long as you are a citizen of one of the 47 friendly nations listed by Panama and meet one of the three requirements listed below, you can become a Panamanian resident and even have the ability to obtain your work permit (a perk not offered through the Pensionado Program).
You are eligible for the Friendly Nations Visa as long as you can prove one of the following:
1. Own Real Estate in Panama (Ownership of Teak Parcel through program)
2. Start or take over a Business in Panama
3. Are employed by a Panamanian Company
Right now, there is an affordable opportunity that qualifies you for your Friendly Nations Visa, and even earns you a return on your investment – the Teak for Residency Program in Panama. For only $15,000 (price increase will occur December 31, 2013), you will own real estate (a 1000 m2 parcel of 14-year-old teak), become a Panamanian Resident, and receive a return of at least $20,000 – $35,000 at the end of the 25-year harvest period. It may not necessarily be the final investment that you are interested in, but rather the unique opportunity to obtain your Panamanian residency by investing a nominal amount in the country.
If you’re not familiar with teak, you should be. It is a high-demand commodity that is being harvested at a rate of 8-12 times the rate of replanting. Teak prices have risen dramatically over the last 20 years, and as the harvest continues to exceed the supply we can expect the price of teak to continue on an upward trend, and to exceed return targets. It is a tropical, hardwood tree (making Panama the ideal location for growing and harvesting), yielding timber that is commonly used in the fabrication of indoor and outdoor furniture, window panes, doors, boats, beams and columns, and boats.
Teak Hardwoods is now offering you the opportunity to enter this booming market by owning a parcel of your own.
We have all heard that good things must come to an end…
This doesn’t have to be one of them if you enroll today.
Although there is no deadline for this program, there has been talk that if Martinelli’s well-supported opponent is elected (as will likely happen), this visa program will be cancelled. If you obtain your Friendly Nations Visa before the program is cancelled, you will be safe — Panama has a history of grandfathering folks into programs that are revoked. With the uncertainty that lingers around the upcoming Presidential election this May, the sensible are already taking advantage of this opportunity while it is still being offered.
Since parcel ownership is being offered on a first-come, first-serve basis and only a limited number remain, it is recommended that as soon as this makes sense to you, you enroll. What are you waiting for?