Comments by "Jeremy Barlow" (@jeremybarlow2291) on "🚨🚨Second Citizenship Will Be Dead🚨🚨" video.
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They are most definitely upset about digital nomads in Europe, Canada, and the USA extricating themselves from the Western tax base by for Europeans and Canadians, moving to Dubai & setting up a free zone company, and either living there for a year or living briefly in a country with rules that allow them to be tax resident in a low or no tax country while living there for 2 months or less. After you are no longer in the European or Canadian tax system, until you legally become resident there again, I do not presently see the UAE chasing you down to tax you while you continue a digital nomad lifestyle seeing the world.
The US is upset that backpackers earning up to $120k a year or maybe a bit more if they utilize travel expenses appropriately and add the right income channels to their mix of strategies are escaping the US tax system to a large degree. They are far more upset that those people are using the tax savings to buy a Caribbean passport and renouncing their citizenship, but what they really hate is money is being spent by those "citizens" ie slaves, in other countries. What they really don't like now is that people because of YouTube are seeing people who grew up in their "first world countries" experiencing a better quality of life in poor "third world countries" with lower tax burdens, more to do, lower costs of living inspiring others to leave the rat race they created in their countries.
I mean the "first world" already has a labor shortage because Westerners are telling people in the "third-world" the opportunities are better or at least as good in your home country as they are in the "wealthy" countries. Those same people are seeing those same videos in their country. They have labor shortages exacerbated by the fact that a person with a laptop and an Etsy store can make up the salary or wages from their low wage job selling trinkets and trash online while working 10 hours a week.
They have the problem of many people ditching apartments and houses for life in a Van because minimalism and an unencumbered simpler life allows people to work less not only fueling a labor shortage, but also hurting the real estate investor market.
But when people begin to decide to leave for greener pastures by deploying those minimalist strategies, they know they cannot allow travel to be as easy as it has been in recent years. It is very bad for their incumbent player advantages.
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My plan is to get a business that earns most of its income through royalties functional, move to Portugal on a D7 visa and residence and earn an EU citizenship while benefiting from the NHR and Social Security Totalization Agreement as an American self-employed in Portugal. A royalty based business has few litigation risks, and most litigation risks that could apply would not be protected by a corporate liability shield regardless, so it is a practical way to operate in terms of tax efficiency and asset protection. After gaining Portuguese citizenship, the options for how to operate and where to live become a lot easier to deal with, especially as it opens up multiple EU jurisdictions for corporate structures and tax planning because as an EU citizen I could work as a board member in any EU country. Ireland, Hungary, and Cyprus offer some solid structuring strategies. The potential tax savings while living in Portugal may also allow enough savings to purchase a Caribbean citizenship, assuming the programs remain open. Dominica's current visa-free access is probably the most appealing as a supplement and compliment to Portugal. Securing a Skilled Worker Certification for Caricom would be part of the strategy when obtaining any Caribbean citizenship.
After obtaining Portuguese citizenship, a residence permit in Mexico, Malaysia, Thailand, the Philippines, Uruguay, Costa Rica, Barbados, or Georgia would all be likely possibilities. Cyprus, Ireland, and Malta might also be in the mix for residency.
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