Tax Free Caribbean Citizenships: Worth It? 

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Summary of this video:
Wealthy Expat discusses the process of obtaining Caribbean citizenships like St. Kitts and Nevis, which are promoted as tax-free options but require significant investment. The cost has risen from $150,000 to $250,000 or more, and the process has become more complex, taking longer and involving stricter due diligence. The speaker clarifies that having a tax-free passport doesn't mean one pays no taxes-taxes depend on residency. Caribbean passports offer access to Europe (Schengen Area), but maintaining that access is becoming harder due to European Union pressures. Some applicants are rejected based on their income source, such as OnlyFans creators. Additionally, other global citizenship-by-investment programs exist, but they often require more involvement, such as starting businesses or investing in local economies. The speaker emphasizes the importance of having a second passport as a "plan B" in case one's home country faces crises like war or increased government control.
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.