Most of us have only very few opportunities to do something that has a true lifelong impact on someone else.
One of these opportunities is to do something for your children that will pay dividends for a lifetime in the form of freedom, choices, and safety.
And that gift is a second passport.
A passport from a foreign country gives you the right to live, work, invest, bank and thrive there. And it serves as a travel document for the rest of the world.
Did you know? You can receive all our actionable articles straight to your email inbox... Click here to signup for our Notes from the Field newsletter.
To me, a second passport is the foundation of a solid Plan B. It’s an insurance policy, in case things go wrong in your home country and you need to escape somewhere else.
And, when done right, there’s ZERO downside. Worst case– citizenship in a thriving country opens up doors for you that you might not find back home, like unique business, travel, and lifestyle opportunities.
There are several ways to obtain a second passport. Many European countries offer citizenship through ancestry for descendants – like Luxembourg, Poland, Italy or Hungary.
Others offer Citizenship by Investment programs – like St. Lucia or Malta.
But the most common route to citizenship is by establishing residency in a foreign country and living there for a number of years.
For example, Chile will grant citizenship to people who’ve lived in the country for five years or more. And in Andorra, you will have to spend as much as 20 years before you can file for naturalization.
Other countries, however, will grant citizenship to anyone born on their soil.
This is the standard legal concept in the Western Hemisphere, including countries like Brazil, Chile, and the United States.
This means that, if you’re thinking about having children, you could choose to do so in one of these Latin American countries that grants birthright citizenship.
So from the time your child is born, s/he will have dual citizenship… for life.
And that second citizenship will pass on to future generations as well.
If you have a child in Brazil, for example, his/her children, grandchildren, etc. will also be entitled to Brazilian nationality.
So this single decision can literally create generational benefit.
Now– there is ONE country I want to tell you about that has an even better policy.
These other places I’ve discussed provide immediate citizenship to any child born on their soil. But not to the parents.
Argentina is an exception.
Like most places in Latin America, children born in Argentina are automatically Argentine citizens.
But as our lawyers in Buenos Aires have explained to us, as a parent of an Argentinean citizen, you can also apply for naturalization right away.
This is an incredibly unusual benefit.
So if you’re looking for a second passport in a fantastic country for you and your new baby, Argentina should definitely be on your radar.
(Even if you’re not planning on having children, you only need two years of residency in Argentina to qualify to apply for naturalization there.)
One strong benefit of Argentina is that it’s a great travel document. You can move freely across Latin America and travel to places visa-free that even Americans cannot go.
Our Sovereign Man passport index ranks Argentina as the second best citizenship in Latin America after Chile.
And it’s also a safe option– you’ll notice that no one ever hijacks an airplane and threatens to kill all the Argentines.
Argentina is also a fantastic place to be. Buenos Aires is vibrant and feels very European. The wine country is simply gorgeous (and right now, Argentina is ridiculously cheap).
And with a second passport, should you and your family ever need to get out of dodge, you’ll have a place to go live, work, bank and thrive.
To me, it’s a no-brainer that makes sense no matter what.
And giving your child and yourself this opportunity is an invaluable gift that will pay off for generations into the future.
And to continue learning how to ensure you thrive no matter what happens next in the world, I encourage you to download our free Perfect Plan B Guide.
Because... If you live, work, bank, invest, own a business, and hold your assets all in just one country, you are putting all of your eggs in one basket.
You’re making a high-stakes bet that everything is going to be ok in that one country — forever.
All it would take is for the economy to tank, a natural disaster to hit, or the political system to go into turmoil and you could lose everything—your money, your assets, and possibly even your freedom.
Luckily, there are a number of simple, logical steps you can take to protect yourself from these obvious risks:
No Brainer Strategies to Ensure You Thrive No Matter What Happens Next
- Invest outside the mainstream and generate strong returns with minimal risk
- Protect your assets and become invincible to financial crisis and frivolous lawsuits
- Legally slash your tax bill up to $1.2 million each year
- Obtain a valuable second passport… potentially for free
Learn about these and many more strategies in our free Perfect Plan B Guide.