Guest Post by Simon Black
The former CEO of Google, Eric Schmidt, will be one of the last people to receive citizenship in Cyprus through the country’s Citizenship by Investment program.
Schmidt’s name showed up on Cyprus’s list of approved applications in October, around the same time Cyprus announced it was suspending the program.
Remember- Cyprus essentially went bankrupt in 2013; it was so bad that the government had to freeze its entire banking system. They were desperate.
So the government started heavily marketing its new Citizenship by Investment program, which brought in about $8 billion in much needed revenue.
There are plenty of citizenship by investment programs around the world. But Cyprus had one of the most expensive programs in the world.
Until recently, for a little over $2 million invested in real estate or the local economy, plus a roughly $175,000 donation to the government,
Cyprus would hand you a passport, and congratulate you on your new citizenship.
Because Cyprus is part of the European Union, its passport opens a lot of doors– especially to Americans whose US passport has been unable to give them access to Europe since June.
That may be one reason why Eric Schmidt is probably pretty happy he got in before the door on Cyprus closed.
The only reason Cyprus suspended the program was under pressure from the European Union, which doesn’t like these citizenship programs.
The bureaucrats at the EU basically feel the same way as “news” outlets like Vox, which “reported” that citizenship by investment programs “have become the latest way for billionaires around the world to go ‘borderless’. . .”
In August CNN called this “the elite world of investment migration.”
These people act like citizenship by investment programs are just for shady oligarchs or careless billionaires looking to exploit tax or immigration loopholes.
That’s not true at all. A second citizenship is a smart move for anyone who wants to make sure one country doesn’t control all their travel and living options.
From lockdowns to riots to the specter of major tax increases, the events of 2020 have proven to everyone that it makes sense to have a Plan B.
And you actually don’t even have to be that rich– certainly not a billionaire– to be able to afford some of the world’s citizenship by investment programs.
But Cyprus shows that you should seize the opportunity while it is available. These programs are constantly changing. And political pressure, along with complimentary mainstream media propaganda, is one factor that could push countries to drop the programs.
Luckily, Cyprus is not the only country that offers citizenship by investment.
Malta and Bulgaria, both in the EU, also offer Citizenship by Investment programs… though they’re under the same pressure from EU bureaucrats.
Malta includes a residency requirement, and costs about $1 million. Bulgaria also costs over $1 million, and takes at least two years to receive citizenship.
But these programs become much cheaper in the Caribbean.
St. Kitts and Nevis, St. Lucia, Dominica, Antigua and Barbuda, and Grenada all offer citizenship by investment programs starting at a little over $100,000.
These passports aren’t as strong as an EU country’s passport, but they are solid B grade travel documents. It’s still a great insurance or Plan B to have in your back pocket.
The Caribbean programs are also always in flux– though lately they have been competing to lower their prices, desperate for investment since COVID has dried up their usual tourism revenue.
Citizenship by Investment is also not the only way to obtain a second passport.
Ancestry is another option. If you’re part of the ‘lucky bloodline’ club, you might have ancestors in a country that confers citizenship to descendants of its nationals, such as Italy, Ireland, or Poland.
Or you could naturalize in a country, and obtain citizenship by maintaining official residency for a set period of time. Permanent residency alone is a huge step in the right direction, already offering more freedom of travel, and at least one other country where you can live and work.
Marrying a foreign national, having a baby in, or even adopting a baby from places like Mexico or Brazil can also quality you for a second citizenship.
But again, the rules do change from time to time. And that’s why it makes sense to start executing, now, before the window of opportunity closes.
It’s helpful just having a foot in the door before things change; anyone who submitted their application to Cyprus before the program was suspended is still in the pipeline to be approved.
So if you are looking for more travel freedom, a solid backup plan, or a better tax situation, you will want to start as soon as possible.
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I’m a dual national (USA, Ireland) and a permanent resident of a third country in which I’m entitled to citizenship. The thing is, I am disenfranchised in the USA and cannot renew my expired passport from there. That’s annoying, but seeing as I have no intention of ever returning to the USA even for a visit, things could be worse; I could be trapped there, for example.
As a general rule, I don’t much care for Simon’s hucksterism, but I’m reluctantly admitting that he may have a point if all that I read and hear about the country of my birth is correct. Individual and family choices vary, of course, but for some, having a second passport may in fact not be a bad idea. Some might say it’s a form of betrayal, said some as a rule being those who intend to stand their ground (admirable) and those who call one a traitor because they’re simply incapable or afraid to venture elsewhere, but loathe those who weren’t. I for one would not want my grandchildren raised or “educated” in the USA as it stands now and have no hesitation in saying so.
The thing is, Simon’s readers are unlikely to do well out of the USA, largely because if one intends to emigrate for real, one does so on one’s own without needing to subscibe to huckster newsletters. Forget about “Galt’s Gulch” abroad. Assimilate in the new nation or pound sand is about the size of it.
Agree with your assessment of “Simon”; he’s a huckster, but that doesn’t mean he’s wrong.
Google/ABC leach Eric Shit Schmidt. What’s a couple million to him, walking around money, maybe?
I find some of these euphamisms and thoughts (cough) amusing.
“Investment program” really means “buy a dead horse and see if you can do anything with him, and by the way, if you succeed, we will tax you/”
Yeah, sure buy a nice restaurant or building for rent. You might get your money back (in nominal terms” before you croak-off.
“Program ” is government-speak. It really means ‘good for us, but fuck you’.
“A second citizenship (*thus passport) is a smart move for anyone who wants to make sure one country doesn’t control all their travel and living options.”
*The notation is mine.
Apparently Simple Simon has not heard of the One World Order or Globalism, or The Great Reset…
“St. Kitts and Nevis, St. Lucia, Dominica, Antigua and Barbuda, and Grenada … starting at a little over $100,000.”
How many people do you know that can put together or have ‘a little over a hundred grand’ IN CASH? Or, do you think Grenada (for example), will take Mastercard or a personal check? Heck, the average car loan is the US is now 72 months and that’s with a 12% down payment.
“These passports aren’t as strong as an EU country’s passport, but they are solid B grade travel documents. It’s still a great insurance or Plan B to have in your back pocket.”
If the US traveler to the EU has been blocked since June, what does that make a US Passport? A solid B, a solid D?
As to the back pocket, what the government can grant the government can rescind.
“Ancestry is another option. ”
That sure has worked well in the US. Any old ‘ancestry’ can come here and bring family. Hellz Bellz, they’re lurved here with broken open arms; they can even vote (and so can their dead ‘ancestry’). I doubt the reverse is true in other places, it sure don’t fly in Israel.
“So if you are looking for more travel freedom, a solid backup plan, or a better tax situation, you will want to start as soon as possible.”
Take heart Simon, Santa will be here Christmas Day (if he escapes the Rona and maintains his ‘solid B’ passport.
Wow, an interpreter of Double-Speak. Nicely done!!!
““Program ” is government-speak. It really means ‘good for us, but fuck you’.”
– Machinist
Precision machining, Mach. Well done .
Auntie thinks you have, in-fact, produced an eternal maxim.
I’m not sure who I’m more angry at. Simon, or Schmidt.
Schmidt is a cvnt for picking up and running for the hills. There will be a mob out for his blood after this election crap comes to an end.
Simon a huskster for CONSTANTLY pushing the same old 2nd citizenship song and dance.
How about you sponsor me Simon and give me a job down in PR? Lawyers and .gov robbed me of all my savings and assets to date.
Wouldn’t a HUCKSTER have to benefit from you getting a 2nd passport? I am no fan of Simon but still, I managed to get 3 passports for less than 10k, pay no taxes anywhere, apart from import tax, sell 20 000 lbs of passion fruit weekly and pay my 5 workers about 4$ each per day.
Starting in 2009 ( info mostly from this website ) I planned and worked and bought metal, fucking trained horses and made hay (literally) while the sun was shining. Now it is dark winter and you start to bitch?
You were warned. Better 10 years early than a day late. We ALL knew what was coming when Barry was elected,.. most stuck their head in the sand.
That said Anonymous, I will sponsor you, you can come pick fruit for me for $5/day.
Eh,cheaper to shoot you for .50 a round and take over,but……,thanks for thinking about me!
Not bitchin’. Dark winter my ass. I’m calling it as i see it. YOU can go be doom and gloom.
Simon peddles his publications. Husking by proxy.
You did well, and good for you. I’m happy for you and yours.
BTW, I’ve watched the wall st. landscape way longer then 2009. You’re the one late to party.
Never did mention where you were either. South America, maybe I’d consider the offer. Asia, you can go suck it.
But I guarantee when you need an actual trained and proficient expert, you’re not getting away with 5 bucks a day. I’m personally good with neck-down work. Too bad you can’t afford my other technical skills when your labor budget is only $140 for the whole farm.
Sounds like your just making money hand-over-fist. Gangbuster style.
/sarc
Your math barely works at best.
Why did he not get a second passport to Israel ?