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How to BUY A PASSPORT from Another Country. Is this LEGAL?

I want to start building a great community of investors wanting to learn and bacome the best investors you could be. If you want to be a part of it, just become a Patreon supporter:   / notfinancialadvice   And this videos take ages to produce, so if you like the content and want to buy me a coffee, that would be amazing! I´m grateful already. Link: https://www.buymeacoffee.com/notfinad -- We all have this friend who´s bragging about his european dual citizenship, that he got because of his grandparents. Some people have that luck and they get those fancy passports, buts if you have some cash, and not that much, you can just buy yourself another passport. Is this a thing? is this legal?. I'm gonna tell you all about it in this video. Welcome to Not Financial Advice. My name is Tobias, I´m an attorney and international finance expert, and today we'll passports for sale. So, buying passports. Are you talking about some shady deal that jason bourne would do behind a laundromat? No, not at all. I'm talking about a thing called “Citizenship by Investment”. And it is kind of self explanatory. Some countries will grant you citizenship, if you invest a given amount of money. But first of all, let's get a few concept clear. A citizenship is not the same thing as a visa, or a residence permit. You can be a resident of a country and never become a citizen. And you can be a citizen of a country and never spend one minute of your life there. What's the difference? Well, if you want move to another country , what you need is a residence permit, a document issued by that country allowing you to spend more time than a tourist, and this may or may not include the possibility to work there. Once you get that permit, you go and live in that other country. But that does not make you a citizen. After many years of residency, you may be to apply for citizenship. So what is citizenship then? and is it that different? Well actually no… Most of the times a permanent residency, like a green card for example will grant you the exact same treatment as a citizen, usually the only real advantage of citizenship is the fact that citizenship is, in most cases, “more permanent”, you get the right to vote, and you get a passport. But if citizenship is such a big deal, why are there countries selling it? Well… why do you think? You guessed it. They need money. To this date, there are a handful of countries in the world offering citizenship by investment, and some other offering residence programs that may lead into citizenship after some time. The ones who are selling are Antigua, Dominica, St. Lucia, St. Kitts and Nevis, in the caribbean, but also Malta and Cypruss in Europe, but that is another price. Ok, Bob now wants it. He went to Dominica on a cruise ship once, and fell in love with it. How does it work? They usually give you two options. One, you make a real estate investment over there worth 250k, sometimes more, and then you get the passport. But there is a caveat. This real estate needs to be “approved real estate”, which means expensive real estate you wouldn't buy and that you may never be able to sell. The other option is simpler, just pay the government 100k in the form of a donation to the country, add some hefty fees, and that would be it. You´ll get your passport in about 6 months after some heavy background checks. They want money yes, but they don't want rich criminals. But why would anyone need to buy one of this passports? Well there are many legitimate reasons for a person to do it. This is a crazy world we live in, and some countries have very bad travel documents, or impose draconian restrictions on their citizens, or maybe you are a victim of political persecutions and need to leave your country, or you want to business in a country that you can't get in with your current passport, or you just want the peace of mind of having another place that you can always go and live. What do you think? would you spend the money? Tell me in the comments. Thanks for watching, and you know the drill. Like, subscribe, notification bell, share and comment. And of course, remember that this is not legal advice, and not financial advice either. This channel is only for education and entertainment. Although I am an attorney, my city, county, state, province and country may be different than yours. If you are looking for advice, you should always hire a local licensed professional. -- DISCLAIMER All the characters featured in this show are fictional. None of this content is legal advice, and none of this content is financial advice either. This channel is only for education and entertainment purposes. If you are looking for advice, you should always hire a local licensed professional in your area.