Sunday, February 10, 2019

Citizenships Being Revoked & Second Passports Will Shut Or Become Much Harder To Get

We have advised our clients since at least 2010 on the advantages of having alternate citizenships or the benefits of second passports.

In 2011, we obtained several PR (Permanent Residency) cards for our clients just before Singapore citizenship section advised us that effective 2012 the Singapore citizenship process/PR shall become extremely difficult and also cannot be renewed after 5 years if PR is not being used (under new rules effective 2012).

Until 2012, Singapore PR had the benefit that they did not require to be renewed every 5 years and could be held permanently without visiting or living in Singapore. This could have been a "Plan B" for so many more but many were nonchalant at the time.

We have advised our clients that because of the number of top politicians or tax evaders or loan absconders or persons from sanctioned countries who will take second passports, hence, every year the rules will keep getting tighter until all countries will close their immigration/second passport route for the wealthy and in many cases even work permits for the not so wealthy.

This is happening like clockwork as we have been predicting for about a decade now.

Today, Gulf News in Dubai has published a scam about St Kitts passports granted in the past.

It has become a political scandal and is the second one after they had one about 2-3 years ago when due to one Iranian person landing in Canada on a St Kitts passport created a racket at the Toronto airport and Canada revoked visa free access for all St Kitts citizens at the time and US issued a warning letter to St. Kitts.

Here is the latest scandal of St. Kitts.


If one does not go into real estate projects with proven developers or through lawyers, then they are likely to be scammed.

It is mind blowing that all such scandals only happen in Dubai.

Many people from Beijing, HK or New Delhi and many other cities also apply for these passports but why are all the scandals always coming from Dubai?

It is because of lax rules, many criminals and individuals who have poor or low ethics being allowed to operate from there in free zones because the quality of people in UAE has fallen dramatically in the last 5 years and major scandals erupt every other week that cause heavy losses.

It could be a real estate scandal, a fake degree scandal, a gold related scam, a bit coin scam, a fake loan scam, a job scam, business shutdown or runaway businessman scandal and now even a second citizenship scam.

We advise anyone looking to take a second passport to deal only with lawyers and not just "consultants". We have partnerships with lawyers based in various countries for this purpose for many years.

We had issued an advisory on 13 June 2018 for those interested to get a new passport.

Anyone may contact us in strictest confidence.

13 June 2018: Cyprus, Caribbean Citizenship: Why you should have it

Cyprus is one of the popular with the super rich because it's cost is EUR 2m plus legal fees and is the only high quality EU passport. Although Malta and Montenegro also offer one. We recommend Cyprus.

However, as we have warned, Cyprus and Malta etc could be closed anytime. So the time to take them is now because they could get closed.


Tourism is booming along with passports for Cyprus, hence, demand is high and economy is doing well.

Tourism, partly due to these passports, is so high that for the first time they had to appoint a Minister of Tourism since the volumes are expected to go even higher in 2019.


Our advice always has been: Take the passport when you don't need it. Because when you need it, you won't be able to get it!

Just 2 days ago, Bahrain has revoked passports of their own citizens due to political reasons. So one has to be aware that a passport can also be cancelled for legal or political reasons in today's world hence a second passport could come very handy.


If you look at Australia, they are in the middle of a political fight to tighten immigration rules.

Australia just revoked the PR (and thus his citizenship application) of a person of Chinese origin who was an Australian passport holder while he was out of Australia, thus not allowing him to re enter Australia, due to political reasons.



Just in Jan 2019, Australia had changed many PR and visa rules in beginning Jan 2019 already.


Meanwhile, in UK, the British Govt also has ordered another review of the immigration which will be tightened further.

They had made rules extremely tight and money requirements very made high upto GBP 10m just a few years back.

They used to take GBP 1-2m, now the minimum is GBP 2m to get passport in 10 years, GBP 5m in 5 years and GBP 10m in 2 years.

Now, even this is under review along with all other rules.

We have warned about this for a while now that most passports will get shut, EU has now ordered a review on all EU passports being issued.


We do not recommend any foreigners to take US citizenship but everyone has their own reason why they choose to which could be children's education or whatever reason one wishes to leave their country.

Just need to remember that they have made it very difficult and almost impossible to give up US citizenship and one needs to pay taxes until they die even if they leave the USA plus US citizens cannot open bank accounts easily in almost all major countries abroad. We have assisted clients to give up their US passports in the past.

But for those who may still be interested this is a very good overview.


There are several reasons why we don't recommend US citizenship for expats, some reasons are, lack of decent jobs, life long high taxation, racism issues, rising crime and discontentment etc.

In the article linked below, another individual who works on passport rankings, ranks the US passport as very low due to similar reasons we mentioned above.

You should also be aware that there are almost 30 countries where US Govt has advised not to travel that now includes China, because in most countries American nationals are at the risk of being killed, kidnapped or jailed. It happened in Kenya in Jan 2019 and Morocco etc in Africa it occurs regularly including in Pakistan or Iraq or Afghanistan.

If you see what kind of people have taken these second passports, you will immediately understand that it's about time that these passports should be closed which is why we recommend to take them at the soonest.

There is an assortment of people who take second passports and bring bad name to them. Take your pick: political leaders, tax absconders (or wanna be tax absconders), loan defaulters (or wanna be loan defaulters), other crooked people etc.

A few of these rotten apples bring a bad name to the vast number of honest, hard working, lucky people who have accumulated wealth or found jobs in foreign countries and due to these less than 1% people, the entire system falls into jeopardy. 


If you or anyone you know is keen to explore this further for any country of your choice, please feel free to drop us an email in confidence.

P.S. We also assist in Canadian PR applications for working professionals below 35-40 years of age whose volumes have enormously increased in the last few years from all over.


2 comments:

  1. Home sales fall 20 percent – biggest drop in 8 years – in Southern California

    https://www.ocregister.com/2019/01/30/southern-california-home-sales-drop-20-percent-amid-housing-market-shift/

    ReplyDelete
    Replies
    1. California is a druggie haven with tent cities.

      Action will be in Toronto and Vancouver in 2019 along with Australia.

      Toronto, Vancouver housing sales plummet to decade-lows in 2018

      https://www.bnnbloomberg.ca/toronto-home-sales-drop-16-in-2018-as-fewer-houses-listed-1.1193443

      Vancouver home sales fall nearly 40% in January as prices pull back

      https://www.cbc.ca/news/canada/british-columbia/vancouver-housing-prices-falling-1.5004892

      December and Jan have both been brutal and China is going to take action against Canada.

      Vancouver openly embraced money laundering and now will pay the price as the Chinese are walking away rapidly.

      From what I am hearing from on the ground in Canada, Chinese have already started selling and packing up.

      Even students that are one third to one half of foreign students in Canadian top universities will shrivel.

      Canadian universities face credit risk if China restricts students travelling to Canada, report says

      https://www.cbc.ca/news/canada/british-columbia/ubc-s-credit-rating-in-peril-if-china-restricts-students-travelling-to-canada-report-says-1.5012131

      Chinese envoy to Canada warns of 'repercussions ' if Ottawa bans Huawei from 5G mobile phone network

      https://www.cbc.ca/news/politics/china-envoy-warning-huawei-ban-1.4982601

      The high price of Chinese money laundering in Canada

      https://www.theglobeandmail.com/opinion/article-the-high-price-of-chinese-money-laundering-in-canada/

      The sales have dropped but price declines have just begun over the last 6-12 months, the Canadian real estate downfall will be epic in 2019.

      CANADA's 6 BIGGEST METROS
      Vancouver, Calgary, Edmonton, Toronto, Ottawa and Montréal Single Family Detached Housing as well as the National MLS Residential Annualized Sales and the Average Price of Vancouver, Calgary and Toronto Condos.

      http://www.chpc.biz/6-canadian-metros.html

      Delete

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