How long will it take to get your second passport? If you are choosing citizenship by naturalization where you “sit back and relax” for a few years, the answer is “it depends”.
Countries like Panama, Paraguay, the Dominican Republic, and Uruguay have often been promoted as “easy passports” by bloggers and attorneys looking for clients. However, these countries have often failed to grant citizenship in the amount of time prescribed under law.
As Andrew explains, any country can make a law but not follow it. Also, any country can change its law at any time. That means that even if Panama, for instance, claims you can get second citizenship after five years, they don’t actually have to grant it. That five years is merely how long you must wait to APPLY.
Two of Andrew’s acquaintances experienced this first-hand while getting Spanish citizenship. What was supposed to take two years ended up taking six years due to bureaucracy. Crazy!
Before you get second residency in a country to start the clock ticking on a second passport, understand the real timelines there, not just what’s written in the law. To do that, you will need an unbiased expert who really knows what’s going on.
Sign up for your free copy of Second Passport guide here:
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ABOUT NOMAD CAPITALIST
Andrew Henderson travels to nearly 30 countries every year to stay up to date on the latest legal strategies for entrepreneurs and investors to pay less tax, grow their money faster, and build their personal freedom.
Andrew started Nomad Capitalist to help people like you follow his five magic words: “go where you’re treated best”. He has personally started foreign companies, opened offshore bank accounts, and obtained multiple second passports.
He also learned the hard way that perpetual information seeking is often the biggest barrier to getting the results you want. Many entrepreneurs spend months and even years constantly researching how to pay less in tax or live overseas, but are afraid to make the jump.
As a result, they get stuck and keep paying a fortune in taxes and never get the lifestyle they deserve.
Nomad Capitalist’s Youtube channel is based on Andrew’s vision that focusing on the end result, rather than the latest shiny object, is the best way to actually obtain the benefits of the Nomad Capitalist lifestyle.
About Andrew: nomadcapitalist.com/about/
Our website: nomadcapitalist.com
Our blog: nomadcapitalist.com/blog/
Work with Andrew: holanomad.com/
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