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| Traveling
or Doing Business as an American may be Hazardous to your- Physical
and Financial Health |
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| Many clients
ask about some of these second citizenship programs they might have heard
or read about. In fact, there does seem to be an increased interest
in this topic, now more than ever, when American Citizens especially might
be exposed to danger (traveling as an American) or might be rejected by
a non-US bank or Investment firm because they are American. |
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| However, we
first must define what are basically the three programs in existence (or
did exist as the case may be). The first are some of these official
and government sponsored instant economic citizenship programs (Belize,
Granada, Dominica, etc.). Basically, you donate anywhere from US$50,000
on up to the local government, you must of course pass the rigorous application
process, and then you get your citizenship (often within 30 to 90 days).
However, these programs of course have either disappeared altogether, due
to pressure from the US Government who did not like to see their citizens
gaining a new fairly good visa free travel document so quickly, or have
been changed to such an extent that they no longer look attractive (I hear
Dominica now wants US$150,000). Dominica, by the way, is an English
speaking island nation in the Caribbean that is not affiliated in any way
with the Dominican Republic (a Spanish speaking nation). |
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| Next
we have the regular programs and processes that all countries have in place,
which allows for application to immigration for RESIDENCY, with
the ability to convert that status to Citizenship or Naturalization at
some later date. Each country is of course different, and has their
own set of rules, requirements, time frames, etc. The norm or standard
to get citizenship in many countries is 5 to 7 years. However, there
are some exceptions, which do allow for Naturalization much quicker (the
Dominican Republic is one such example). These processes, by the
way, are not anything special other than they are the regular programs
and policies each government has in place to allow for foreigners to become
residents (and later on citizens if you so choose). Which is to say,
they are not any special or new fangled programs as previously mentioned
above (instant or economic citizenship). However, one very important
point is, that going this route means you are moving through very legal
and normal government channels (which is what we offer, by the way). |
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| You
cannot ask that they change your name on the documents (they will not)
as they are using your existing passport or legal identity documents in
the process. However, this does not necessarily mean they are going
to wave a red flag to your home country either (that all of a sudden you
have permanent residency status or citizenship somewhere else). |
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| The
last program, which unlike the two listed above, is what I will call a
black market under the table situation. Meaning, you are NOT going
through official government channels in regards to the process and your
documents. So, you read an advertisement someplace offering a REAL
passport from country X, complete with new name and so on. All well
and good, and it is quite possible that the passport is very REAL, freshly
stolen out of the passport office, but it may or may NOT be officially
and legally registered in the computer system (which will bring you a world
of trouble later on, especially when you try to renew it). This is
not to say that all people offering these deals are not legitimate, or
that your passport is not going to appear in the government system.
Just keep in mind that it could be the case. Also, keep in mind that
there is no legal and official file in immigration either. These
deals usually involve Joe (our fictitious name for an attorney or government
official in country X) who has a buddy, cousin, whatever working down at
the passport office or in government somewhere. |
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| You pay Joe,
and Joe promises wonderful things within 30 days. Joe is supposed
to get your passport, but let us suppose he does not. Who are you
going to complain to? The local government where you are trying to
get this done? What will you say? I gave Joe money under the
table to get me an illegally acquired passport, and he stiffed me?
Just understand the risk involved with these kinds of deals. Also,
if Joe tells you that you cannot use the passport to enter and leave country
X, be very afraid. That is an instant tip off that your passport
is not registered. |
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| Many countries
in the world do recognize DUAL CITIZENSHIP, and the US also is one
country that does as well. Obtaining residency status in another
country does not in any way jeopardize your existing citizenship and obtaining
a second citizenship usually will not as well. There are some quirky
things in the US regulations about joining a foreign army and so on, but
I tend to think this does not apply to most people. However, the US State
Department does say that if you have dual citizenship (along with a US
passport), then you are required to use and demonstrate your US passport
when entering and leaving the US. As a very real and very practical
example of this, I know of many Americans who have become Panamanian and
Dominican Citizens (and in fact have children, born in a foreign country,
who have dual citizenship as well). When they leave Panama (for example),
they use their Panamanian Passport and when they enter the US, they give
their US Passport. This is what is done and it is very legal to do
so. What advantages do you gain by having dual citizenship?
Well, first off, you get to travel as a non-American, which these days
could be a life saving necessity. Germany, for example, started to
segregate American and British travelers last year in their airports -
sending them to separate departure terminals, etc. Why? The
logic was that if the Arab Terrorists wanted to retaliate and kill US or
UK citizens, then at least German Citizens (and everyone else) hopefully
will not be in the same place to get caught in the crossfire. So,
traveling as Mr. Citizen, from some small non-violent country (that is
not involved with carpet bombings or is involved with supporting military
coups in other countries because they do not like the current political
leaders) is always to your benefit. |
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| The other
issue is of course investments. As we have indicated earlier, many
banks, brokers and mutual fund companies (outside of the US) will NOT accept
US citizens as clients. Not because they are legally prohibited in
any way from doing so, but because they do not want the hassle and bother
of having to deal the American tax authorities. So, again, being
something other than a US citizen might get you a warm reception (as opposed
to being told in a polite way to get lost). |
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