El Salvador $1 Million Passport Explained
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- čas přidán 27. 08. 2024
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Summary of this video:
💰 Overview of El Salvador $1 Million Citizenship Program
- Overview of the El Salvador $1 million citizenship program aimed at crypto millionaires.
- Details on the donation process, eligible family members, and accepted nationalities.
- Importance of required documents like a notarized passport copy and a clean criminal record.
🛂 Process and Considerations for US Citizens
- Explanation of additional steps required for US citizens due to regulatory considerations.
- Clarification on citizenship renunciation and alternative payment methods.
- Insight into processing times and the significance of pre-approval in the application process.
🌍 Future Prospects and Criticisms of the Program
- Discussion on the future potential of El Salvador and the benefits for crypto-heavy investors.
- Criticism and comparison with other citizenship programs, like Malta's golden visa.
- Strategic tax considerations for US citizens looking to renounce citizenship and minimize future capital gains tax.
DISCLAIMER: This video is not tax and/or financial and/or investment advice. Any information or advice I give is purely based on my own experience and research. I am not a tax professional and/or lawyer and/or accountant so I am not liable for any steps you take to lower your taxes. I'm not a financial advisor nor do I pretend to be. Always do your own research.
It's incredible how US citizens actually have to pay an "exit tax". Only in the USA...
Because as a prisoner you most pay to leave 🤷🏼♂️
Not only in the USA. Many countries have exit tax. The USA is the only one arrogant enough to also tax its citizens regardless of where they live in the world, most strongly motivating the exit.
In Spain we also pay exit tax
U.S. isn't the only country with an exit tax. Australia, Canada, Germany, Norway, Spain, and Netherlands has them as well.
For USD 1,000,000 better off to get Republic Malta (EU) or Republic Cyprus (EU) citizenship.😊
Yes for Salvador 10k is more than enough
I totally agree 👌🏻
Cyprus no longer has a CBI program. For Malta, you need to live there for 1-3 years before applying for citizenship.
I am an EU-citizen. I disagree: EU is a leading entity in forming the BIG TECH PRISON PLANET. A totalitarian warmongering surveillance union. More over Cyprus is de facto a NATO Hangarship - which airfields are being used to bomb Gaza, Lebanon and more...
you must be a complete brainwash to buy a booklet with colorful pictures for $1m
I'd probably consider going for this program - its quick, straightforward, no interviews required. Just upload a few docs, transfer money via bitcoin and boom citizenship. It is everything needed unlike the Caribbean CBI that it currently offers.
I wonder if the program would face scrutiny, especially from the EU/UK, since the program is open to all nationalities (except some sanctioned countries) and the passport has access to the UK/EU Schengen Area. 🤷♀
EU entry could become complicated with one of these passports when Etias comes into play next year, especially if they start asking about your country of residency and how much time you've actually spent in El Salvador.
@@scottfree993 EU entry will become complicated for anyone without an EU (Schengen) passport once ETIAS starts. It doesn't matter your country of residence, they only give sanctioned countries and poor countries trouble. Countries generally don't care how much time you spend in certain countries unless looking at where you're tax resident. Many people are citizens of countries they've never been to but they have the passport - no one ever asks how much time they've spent there.
@@matthewnirenberg hopefully you are correct but wait and see, I can't see a rubber stamp for etias for cib recipients born in certain countries, they will most likely have to apply for a Schengen visa, similar to the USA ESTA which requires anyone who's recently visited Iran to get a USA tourist visa in order to travel to USA no matter which passport they have.
Why such a high sum? The carribeans are happy with 100/200k...🤔
400k now
Because this is for very high wealth individuals, not for people who just like collecting passports, it is for large investors who see potential in this country, also the high value make other countries like in Europe not want to cancel the no visa requirements as anyone who purchases it will be seen as someone with money not someone just using this passport as a stepping stone to get into another country. Also this sum includes all your family, spouse and any children under 18.
I have both and I was born in El Salvador!
Shouldn't be more than 100k, less than the Carribbean ones.. especially with the lack of visa free access
My biggest concern sadly is "Is El Salvador safe from the libs?" .. We saw Brazil fall to Lula and now there is a liberal president in Mexico :/ It just seems the liberals keep spreading :/
Latin America has always been liberal
U gotta do a video about Panama
I’m moving to El Salvador 🇸🇻 very soon.
hi Rafael, can you do a video talking about how you invest a 10 million dollar portfolio but not like your old video, in this video talk about real state, index fund, watches or where you invest that 10 million dollar apart from passports and residencies
submission of a letter from Federal Tax Authority stating that the investor pays the government no less than AED 250,000 (two hundred and fifty thousand) annually
Does this mean you have to pay 250k dirhams every time annually despite paying 2m dirhams at start for golden visa?
Link?
Thank you, can you please make a video about how to apply to El Salvador free passport for exceptionally intelligent people , that they president recently talked about?
If I get el Salvador passport do I have to live in el Salvador to get it's tax residency for 90 or 200 days or just by having El Salvador passport gives me it's tax residency?
Where's the link ?
How can someone have a million dollars to begin with 😢
crypto is nowhere regulated here lol the SEC is railroading the entire industry here
Successful investing is hard work because it means disciplining your mind to do the opposite of human nature. Buying during a panic, selling during euphoria, and holding on when you are bored and just craving a little action. Investing is 5% intellect and 95% temperament.
Assets that can make one successful in life
I. Forex
2.Stocks
3.Shares
You are right.
But I don't know why people remain poor due to ignorance
It's not ignorance but unprofessional broker in the market
nah just get to the UAE, abu dhabi or dubai, way better infrastructure
One million! Hahaha!
Do you have to renounce your US citizenship in order to get the El Salvadoran citizenship even if you make the $1 million donation.
watch the video?