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Second Citizenships, Residencies, and/or Temporary Relocation

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Re: Second Citizenships, Residencies, and/or Temporary Relocation

#101

Post by eric4smith »

thatfrenchguy wrote: post #18
eric4smith wrote: post #10

Earlier quoted context omitted.

Speak for yourself :-) Multiple passports, in 2021 gives you options that are invaluable. You can establish homes in 3 countries. In case of emergency in one country you can go to another 2. You can enter countries that exclude citizens with one or more passports. There is so much to be thankful for with multiple citizenships. The one major downside is U.S. Taxes. Be very grateful to your parents and self-initiative.

I have only a French passport so far, and I can settle in 31 countries without any issues. Sometimes you just get the right one ;-)

I was thinking bigger.

Suppose you wanted to settle in a different continent. Country outside of the US or the EU.

Suppose some issue happened in your country or region that you did not agree with?

Suppose you wanted to give up EU or US citizenship.

Multiple passports give you damn options.

A French passport is hardly the “right one”.

The whole world is not the euro or anglo countries. There is plenty out there to enjoy or explore or move to.

You should check out the Nomad Capitalist channel on YouTube for an even wider view on all of this.

Open your horizons.

Re: Second Citizenships, Residencies, and/or Temporary Relocation

#102

Post by feanaro »

andrewmcwatters wrote: post #75
disabled wrote: post #25

I am a dual citizen of the United States and Croatia (European Union citizen). I am culturally American, and I have spent the vast majority of my life in the US. I left the US about a month before the lockdowns started. I have been living in Croatia for the past year. I can technically live/work/retire in any EU/EFTA country (minus Lichtenstein--has an immigration quota), due to having Freedom of Movement rights. In…

> But, it is way, way, less stressful living here, just in general. Americans have no idea. The taxes are worth the peace of mind along with the stability it gives society. I don’t know what it is about Europeans on American websites telling us how great it is to have 1/3 less PPP and higher taxes, but I sure as hell don’t want my taxes any higher. A grand total of none of my international friends have anywhere near…

> I don’t know what it is about Europeans on American websites

What American websites?

Re: Second Citizenships, Residencies, and/or Temporary Relocation

#103

Post by refurb »

AnotherGoodName wrote: post #88
andrewmcwatters wrote: post #75

Earlier quoted context omitted.

> But, it is way, way, less stressful living here, just in general. Americans have no idea. The taxes are worth the peace of mind along with the stability it gives society. I don’t know what it is about Europeans on American websites telling us how great it is to have 1/3 less PPP and higher taxes, but I sure as hell don’t want my taxes any higher. A grand total of none of my international friends have anywhere near…

>I don’t know what it is about Europeans on American websites telling us how great it is to have 1/3 less PPP and higher taxes https://en.wikipedia.org/wiki/List_of_countries_by_wealth_pe... I don't mean to be rude but please look at that above link and understand how poor you as a citizen of USA are. It's frustrating to come from a country thats ~3X as wealthy as the USA in terms of median wealth (i'm Australian) an…

These figures are influenced by real estate prices, equity market prices, exchange rates, liabilities, debts, adult percentage of the population, human resources, *natural resources* and capital and technological advancements, which may create new assets or render others worthless in the future.

Sorry dude, but my country’s vast stores of natural resources don’t exactly help me afford my mortgage payment next month.

That list certainly doesn’t reflect the average person’s disposable wealth. I’ve lived in two of the countries that rank “higher” than the US and in no way is the average person more wealthy. Not even close. In fact I’d say the average person in one of those countries has about half the disposable wealth of the average American.

Re: Second Citizenships, Residencies, and/or Temporary Relocation

#104

Post by aix1 »

emptysongglass wrote: post #99
mrsaint wrote: post #96

Our two children are 4 and 6, and they both hold four citizenships. My wife is US American, I am German, my dad is Croatian and we've been living in Switzerland for almost 15 years. When the kids were born, they both had US and German citizenship jus sanguinis. German passports arrived almost instantaneously. The US passports required us to visit the US embassy multiple times and fill out plenty of paper work. Them g…

How is this legal? Most countries in the world disallow holding more than 2 citizenships. Do these countries know your kids are holding four? If they do not, they need to be informed.

> Most countries in the world disallow holding more than 2 citizenships.

Do you happen to have a reference to back this up?

Re: Second Citizenships, Residencies, and/or Temporary Relocation

#105

Post by cinquemb »

ido wrote: post #74
cinquemb wrote: post #12

Earlier quoted context omitted.

> Being Canadian will be a sort of administrative identity more than anything resembling a citizenship. This is pretty much how my US citizenship is now after living abroad for about 6 years and having a long term bearish outlook on NA, EU, China, Japan (demographics, sovereign/corp debt + real yields).

Which countries do you not have a bearish outlook on?

SE Asia (excluding SG), Western Africa.

Re: Second Citizenships, Residencies, and/or Temporary Relocation

#106

Post by AnotherGoodName »

refurb wrote: post #103
AnotherGoodName wrote: post #88

Earlier quoted context omitted.

>I don’t know what it is about Europeans on American websites telling us how great it is to have 1/3 less PPP and higher taxes https://en.wikipedia.org/wiki/List_of_countries_by_wealth_pe... I don't mean to be rude but please look at that above link and understand how poor you as a citizen of USA are. It's frustrating to come from a country thats ~3X as wealthy as the USA in terms of median wealth (i'm Australian) an…

These figures are influenced by real estate prices, equity market prices, exchange rates, liabilities, debts, adult percentage of the population, human resources, *natural resources* and capital and technological advancements, which may create new assets or render others worthless in the future. Sorry dude, but my country’s vast stores of natural resources don’t exactly help me afford my mortgage payment next month.…

You can argue about prices in Sydney all you want but i moved from Sydney to the USA and the situation isn't any better. In fact it's a lot worse. House prices in California are just as crazy. The wealth discrepency is also more obvious. Shanty towns under bridges worse. Like the 10 or so tents you see in Sydney's hyde park don't compare to the 3 miles in San Francisco of tents. Obviously there's benefits if you're in tech to being in the USA as that's where the market is but other than that it's far worse. The insane taxation system in the USA is not helping here either. There's an obvious need for the USA to look to countries like Australia and adopt our methods of governance but the assumption that the USA is best is unfortunately preventing this change.

Re: Second Citizenships, Residencies, and/or Temporary Relocation

#107

Post by feanaro »

emptysongglass wrote: post #99
mrsaint wrote: post #96

Our two children are 4 and 6, and they both hold four citizenships. My wife is US American, I am German, my dad is Croatian and we've been living in Switzerland for almost 15 years. When the kids were born, they both had US and German citizenship jus sanguinis. German passports arrived almost instantaneously. The US passports required us to visit the US embassy multiple times and fill out plenty of paper work. Them g…

How is this legal? Most countries in the world disallow holding more than 2 citizenships. Do these countries know your kids are holding four? If they do not, they need to be informed.

Why would they need to be informed?

Re: Second Citizenships, Residencies, and/or Temporary Relocation

#108

Post by vecinu »

cko wrote: post #79
vecinu wrote: post #58

Earlier quoted context omitted.

> But, it is way, way, less stressful living here, just in general. Americans have no idea. The taxes are worth the peace of mind along with the stability it gives society. Can you please go on with this point and provide some 1-1 examples you've personally seen? I keep dreaming and have, for the last 5 years, about leaving the US and living in Europe but I feel like I'm throwing away an enormous economic opportunity…

I am semi retired (unemployed) living in Romania, but you'd likely want to be in Portugal for the cost of living, weather, and food. Also they have a ten year tax friendly program called Non Habitual Residency. I'm currently aiming for Portugal. Yes, salaries are low all across the EU (Switzerland is not in the EU) and taxes are high, so ideally I recommend working remotely and bouncing between Portugal and Spain or…

That's interesting, I have a Romanian passport but didn't live long enough there to actually get a feel for what life is like day to day. I think being a worker and having to have a job in RO would be soul crushing, from what I hear from friends and family.

Portugal seems a great in between if you can swing a remote job, a lot of tech workers prefer it for the low cost of living and climate, like you said.

It seems working remotely is the best option but I'm not sure how feasible that is long term and with timezone differences.

Re: Second Citizenships, Residencies, and/or Temporary Relocation

#109

Post by vecinu »

disabled wrote: post #76
vecinu wrote: post #58

Earlier quoted context omitted.

> But, it is way, way, less stressful living here, just in general. Americans have no idea. The taxes are worth the peace of mind along with the stability it gives society. Can you please go on with this point and provide some 1-1 examples you've personally seen? I keep dreaming and have, for the last 5 years, about leaving the US and living in Europe but I feel like I'm throwing away an enormous economic opportunity…

The European Union member states subscribe to multiple fundamental ideas, one of which is the principle of solidarity. This means that there is a strong social safety net, and we take care of the vulnerable. I do not have to worry about the cost of my medical care or other social needs. I pay my taxes, do my part as a citizen, and I know I will be taken care of. Essentially, because of this I do not have to live in f…

Thanks for sharing. I spent some time in Europe albeit that was a long time ago and I feel like I was too young to experience the hardships of life I'm facing in the US.

I know the safety nets you're referring to, they're there for health care, unemployment and worker rights. Things that don't really exist for most people in the US if they're unemployed or in a regular job.

I'm lucky to be in a well paid, high lucrative job even if I have to pay the highest taxes in the US (Which let's be real, are little compared to the EU).

I have a Romanian passport so it's easy to jump over the pond but I'd love my US residency and all the years I put in to be able to start switching jobs more easily. I don't want a ridiculous amount of wealth but I'd love to have a head start and secure financial freedom for my family.

One of my friends just left Munich for Colorado, he said houses are still too expensive in major German cities and salaries too low. He was working remote for a SV company and making big bucks for EU standards. I keep hearing how I'll just have to swallow a tiny salary compared to SV wages if I move to any EU country, Switzerland included.

I guess I have to get to the point where I'm ready to leave the consumerism behind, be happy with extra vacation / free time and "unprogram" every bad habit I learned while living in the US.

Re: Second Citizenships, Residencies, and/or Temporary Relocation

#110

Post by AnotherGoodName »

tardismechanic wrote: post #94
d3nj4l wrote: post #42

Earlier quoted context omitted.

That’s easily “circumvented” with an OCI (Overseas Citizenship of India) card. You lose the right to vote or hold public office, but have permanent residence and authorisation to work.

Sorry, but without right to vote/run for office, it's not citizenship.

By that definition there's simply no such thing as dual US citizenship for someone from outside the USA.

"No Person except a natural born Citizen, or a Citizen of the United States, at the time of the Adoption of this Constitution, shall be eligible to the Office of President; neither shall any Person be eligible to that Office who shall not have attained to the Age of thirty five Years, and been fourteen Years a Resident ..."

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