The Plan E That Could Save Your Ass!
I have spoken about how I feel about the Caribbean citizenships a few times in the past (see below) but now what’s taken headlines by storm are the emergence of Citizenship By Investment (CBI) programs in Africa. In short I believe it to be a foolish decision for most people; it’s only fitting for wealthy people who have a strange habit of collecting passports or wealthy people from let’s say, not so friendly countries who want a new travel document. Other than this, it is a non-productive, non-sovereign, costly, dangerous, insecure place in the ocean that is totally dependent on the powers that many people would be aiming to flee. I think they’re an overpriced headache.
At the same time, I’ve written about Africa a few times.
I am now writing that Africa is in some serious trouble due to their immense dependence on foreign powers (Eastern or Western) for their foreign direct investment, medicines and food imports. Ultimately, when matters tighten and focus returns to something resembling hyper-nationalism, Africa will be left for the birds, and the models predicting amazing futures for the continent will fall by the wayside.
Open Door Analysis:
Despite my thoughts on both the CBI craze and Africa as a continent, Africa citizenship by investment’s are increasingly interesting plays for a wealthy individual aiming to diversify and plant himself or herself in a fully diversified situation. Let’s go over the upsides that many people may be missing:
- Weather alright, depending on African country
- Nobody is worried on conquering these places given their level of dysfunction
- No need to physically live there
- If you do live there, you won’t have exposure to jabbed up meat, 5G towers everywhere and likely be able to evade bad, destructive policies that are designed to harm you and your family. It would be easier to rise to the top of the society in Sierra Leone than it would be in any state in the United States, since the playing field is tilted.
It also allows you to hedge the level of “crazy” that your home country becomes. For instance, Australia is rolling out some amazingly destructive tax policies and teasing about citizenship based taxation, same with France. Want to owe everything you have to them? Or live in a crappy place and keep what you own?
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How Big are the Downsides?
It could be that the obvious downsides of donating 6 digits to a shithole African country may be exaggerated. After all, the reasons why you’re buying the passport is less about the passport itself, but rather about the holistic portfolio that it offers you in this increasingly uncertain world. Like managing an investment portfolio, we’re not trying to squeeze out the maximum return, but rather minimize losses. If we ask ourselves:
- A) how often are people really travelling in the span of a year (and to where)
- B) how many countries are absolutely necessary to go to for survival
- C) How many of these countries do not easily offer tourist visas with the crappier passports
- D) if it doesn’t offer access to the Five Eyes or NATO, then it’s probably offering access to places that the Five eyes passports cannot go to and it makes sense to offset risk
We may come to realize that it’s less about travel and more about a second chance, should you need it. Currently, Botswana is talking about launching their own Citizenship by Investment program with rumors of a donation of 75-90K who would join São Tomé & Principe and Sierra Leone.
Further Advantages
- Fast turn around
- KYC but not stupidly burdensome like the Caribbean nations
- Cheapest on the market
- No stay requirements
- Sierra Leone allows a friend to join you for $30,000 extra (amazing deal if you ask me!)
- Interested in having good people
- Side fees are not gouging you; there’s no hype around these just yet so lawyers aren’t swarming in to get their pound of flesh.
Personally, I know people who are seriously considering this option that on the surface looks weak and silly, but may pay dividends in the future!
If you have any questions about your own international portfolio, investments, jurisdictions or travel advice, feel free to email contact@imontheball.com and I’ll be happy to chat with you
#StayOnTheBall
