True, some interesting use cases especially for someone who wants to travel without any stamps on their citizenship passport(s). Welcome to the insider community!
@@GoodlifeInvestor thank you 😊 I’ve been following along since quite a time and it was about time for me to join. Keep the high quality content coming. I’m appreciating every tiny bit of it
The thing is whether it is a good idea to deposit so much money in a bank account for five years, if a global war happens the Dollar can lose a lot of value due to the destruction of counter value for the paper money.
I personally think Turkey may be a better option . In terms of the International influence ,development, social security systems are so much better than Panama. However, the current processing time is about one and a half years in Turkey. The main difference is that Turkey has a law on citizenship by investment. The Panama travel passport is an additional GIFT from the government to thank investors, there is NO legislative support.
From the experience in my own country (Russia), there are two main paths how you can get your second/third/etc citizenship for free and without waiting for too long: 1) by descent People from my country usually apply for Israeli, Polish, Romanian, Armenian or some other citizenship because they are ethnic Hebrews, Poles, Armenians or their parents/grandparents lived in another country which was later invaded and annexed (e.g. parts of Romania which later became Moldova or Ukraine). 2) by privilege granted by your own citizenship There are international agreements that grant facilitated citizenship to those who are citizens of the parties. For example, Russia has an agreement with Belarus, Kazakhstan and Kyrgyzstan, so Russians can get Belarusian, Kazakh or Kyrgyz citizenship. As far as I know, there are facilitated paths to another citizenship for citizens of British Commonwealth countries and Ibero-American countries.
Appreciate the information; however, all Central American/ Latin Countries, especially Panama, present tremendous risk and no accountability for being easily bribed. Panama is not worth $300k - none of the Latin Countries are especially not for 5yrs!
