One common source of confusion among would-be Nomad Capitalists is how having second citizenship affects your tax obligations, particularly if you’re a US citizen.

While having a second passport offers diversification benefits and even the ability to renounce your current citizenship if you desire, it does not generally change any tax obligations, and certainly not for US citizens.

You can’t simply wave your second passport in their air and claim “I don’t owe tax”. For US citizens and residents of any other high-tax country, you need to solve the underlying issue. A second passport can help you in that process, but it’s not the only step in the process.

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ABOUT NOMAD CAPITALIST

Andrew Henderson is the world’s most sought-after consultant on legal offshore tax reduction, investment immigration, and global citizenship. He works exclusively with six- and seven-figure entrepreneurs and investors who want to “go where they’re treated best”.

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Andrew has spent the last 11 years studying and personally implementing the Nomad Capitalist lifestyle, and has started offshore companies, opened offshore bank accounts, obtained multiple second passports, and purchased real estate in a total of 20 countries.

He has also spent years creating a behavior-based system that helps people get the results they want faster and with less resistance. Andrew believes that everyone can use offshore strategies to keep more of their own money, live a life of freedom, and grow their wealth faster.

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DISCLAIMER: The information in this video should not be considered tax, financial, investment, or any kind of professional advice. Only a professional diagnosis of your specific situation can determine which strategies are appropriate for your needs. Nomad Capitalist can and does not provide advice unless/until engaged by you.

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