Adding a bit of info here, mainly for the European readers (but also for the US folks, albeit with a little longer horizon):
Monaco is still the tax haven to be in. Mainly because it has a history of not charging any taxes for centuries, but also because it is one of the few countries that doesn't really run a deficit, so no need to imply taxes soon (Monaco, while surrounded by EU countries and using the Euro, is not part of the EU).
What you need to get a residency permit: 500k€ per adult on a Monaco bank account (on average per year, but it is not a donation, those funds still belong to you) OR found a new company in Monaco with at least 10 employees.
In addition, you need either real estate or at least a 1 year rental contract for a place in Monaco.
In order to maintain the residency, you need to be in Monaco for at least 60 days per year (which is way lower than the 186 other countries demand) and the Côte d'Azur is not the worst place to be. Residency allows you to travel to the Schengen states without any visa.
After ten years of residency, you can apply for citizenship, provided you have an empty criminal record.
Hey BTB. Just wanted to say props / thanks for the insane level of consistency on your Substack post schedule over the past couple of years. Literally everyone else I've followed on Substack, no matter what they originally promised, has inevitably let the posting schedule slide, and content usually degrading with it. Hard to remember since you're anon and never talk about personal life, but I know there's a human behind this account somewhere, and the commitment to consistency you've had here is really amazing. Which probably explains why you're homeless in the first place.
I'm not BTM, but I'm here in Buenos Aires for a vacation.
If you're interested in buying RE here, you should definitely spend some time and see how you like it. It's a weird mix of beautiful and beat up. The streets are pretty safe in Soho and I ate my dinner on a sidewalk last night watching people walk by.
I'm very curious to see if people will begin to use USDC for RE transactions; it would greatly increase the liquidity here as all sales are done in USD, and my understanding is there are no mortgages.
One thing to add about the E-2 visa option for Grenada (or any other E-2 Treaty country for that matter) is that Biden introduced the National Defense Authorization Act (NDAA) in 2022, which includes the AMIGOS Act, which modifies E2 visa requirements. This new law only lets CBI-origin citizens of a treaty country apply for E1 and E2 visas if they have been “domiciled” in their new country for at least three years. This was done quickly after the Russia/Ukraine war started because many Russians were applying for Grenada CBI and then an E2. So this makes it even harder to get back to the US on an E2 visa if you do not live in that E2 Treaty Country (making Argentina, Colombia, Mexico etc better options because those are countries you could actually live in for a couple of years because there's enough to do compared to Grenada) - in those cases it's a matter of time, Argentina being the fastest with 2-3 years of residency before applying for citizenship.
Recently applied for citizenship because a parent was from Europe. The entire process cost me less than $1k, hiring a translator for the documents and other app fees, but otherwise was fairly seamless. There is a significant amount of documents needed as bull noted. Takes some time for approvals (one year for mine) so get going sooner than later
Yeah some of the "blood linked" ones are pretty easy to get. Left it out since won't apply unless we know your situation. That's a good move though and congrats!
Great topic. I'm actively pursuing this path for my family. As an added bonus, if you have a family, several countries allow you to apply as a family. Set the next generation up for success.
born in canada, got lucky and married rich af canadian girl (ty grandpa's mink ranch) and now at quiet fuck you level of wealth, mortgage free 90k vehicles paid cash mba high w-2 sales crypto 3 RE rentals and now the money doesn't matter in the nicest way, its all about the time spent being relaxed, happy, and not over stimulated. fuck the fed and paying 42%+ income tax but anyway
"While it isn’t statistically possible for everyone to make it into the top 1%, it’s pretty reasonable to be one of the mortgage free home owners with some online income and a W-2. The majority would probably be ecstatic to be in this position and there is only so much that money can buy before your priorities switch to life events: family, friends and your health."
I had 45/45/10 BTC/ETH/SOL before but I sold the SOL because "OK even if SOL does a 3-4x from here compared to BTC/ETH 2-3x it's really not much difference (7k$)". One could of course also argue to just hold the SOL since SOL going to 0 wouldn't make any real difference either.
I know none of it actually matters with such a small portfolio, but I wanna get my mindset right regarding portfolio allocation for when it gets bigger.
Here is additional information on citizenships in Latin America your readers might find useful.
(i) If you give birth to children there, parents are eligible to citizenships within 1/2 years automatically for some countries. Lot of Russians done this.
(ii) Argentina: the easiest way is to get residency is via the rentista visa. This requires 24K a year of passive income. After two years (staying there at least 6 months) you can start process to naturalise. Argentinian citizenship can not be revoked.
Uruguay: you need to be a resident for 3 years (if married) or 5 years (if single) to to be eligible.
Mexico: is 5 years as a resident where in the last 2 years you need to be there at least 6 months.
Peru: resident for at least 2 years (spending 183 days a year).
Some countries are harder in reality. For example, for Paraguay on paper it is 3 years as a resident. However, you need to show substantial ties to the country; living there at least 6 months a year, paying tax, perhaps having property or a local business. Best way to get a sense of this, is finding out many foreigners have been able to naturalise for your country of interest.
(iii) If you are serious about moving to Latin America, local banking will be a problem you encounter sooner or later. Best places are HSBC/Santander in Uruguay or Towerbank in Panama (crypto friendly). There are people on twitter selling bank opening as a service, but would recommend doing this yourself.
Adding a bit of info here, mainly for the European readers (but also for the US folks, albeit with a little longer horizon):
Monaco is still the tax haven to be in. Mainly because it has a history of not charging any taxes for centuries, but also because it is one of the few countries that doesn't really run a deficit, so no need to imply taxes soon (Monaco, while surrounded by EU countries and using the Euro, is not part of the EU).
What you need to get a residency permit: 500k€ per adult on a Monaco bank account (on average per year, but it is not a donation, those funds still belong to you) OR found a new company in Monaco with at least 10 employees.
In addition, you need either real estate or at least a 1 year rental contract for a place in Monaco.
In order to maintain the residency, you need to be in Monaco for at least 60 days per year (which is way lower than the 186 other countries demand) and the Côte d'Azur is not the worst place to be. Residency allows you to travel to the Schengen states without any visa.
After ten years of residency, you can apply for citizenship, provided you have an empty criminal record.
Thank you for that!
Hey BTB. Just wanted to say props / thanks for the insane level of consistency on your Substack post schedule over the past couple of years. Literally everyone else I've followed on Substack, no matter what they originally promised, has inevitably let the posting schedule slide, and content usually degrading with it. Hard to remember since you're anon and never talk about personal life, but I know there's a human behind this account somewhere, and the commitment to consistency you've had here is really amazing. Which probably explains why you're homeless in the first place.
Will do our best as we owe it to you, we'll never shoot 100% or stop learning though.
No vacations for the homeless!
+1
Well said, insane consistency thank you
Talking about Argentina, it would be cool to have an update from BowTiedMara about what’s going on over. Last update was in Feb I believe.
Hilariously just DM'd him, you can ask!
He said a few weeks and worth an update!
I'm not BTM, but I'm here in Buenos Aires for a vacation.
If you're interested in buying RE here, you should definitely spend some time and see how you like it. It's a weird mix of beautiful and beat up. The streets are pretty safe in Soho and I ate my dinner on a sidewalk last night watching people walk by.
I'm very curious to see if people will begin to use USDC for RE transactions; it would greatly increase the liquidity here as all sales are done in USD, and my understanding is there are no mortgages.
One thing to add about the E-2 visa option for Grenada (or any other E-2 Treaty country for that matter) is that Biden introduced the National Defense Authorization Act (NDAA) in 2022, which includes the AMIGOS Act, which modifies E2 visa requirements. This new law only lets CBI-origin citizens of a treaty country apply for E1 and E2 visas if they have been “domiciled” in their new country for at least three years. This was done quickly after the Russia/Ukraine war started because many Russians were applying for Grenada CBI and then an E2. So this makes it even harder to get back to the US on an E2 visa if you do not live in that E2 Treaty Country (making Argentina, Colombia, Mexico etc better options because those are countries you could actually live in for a couple of years because there's enough to do compared to Grenada) - in those cases it's a matter of time, Argentina being the fastest with 2-3 years of residency before applying for citizenship.
Thanks for the info! Looking forward to your update in a few weeks, look up at someone asking about it already. Hilarious how it all lines up
Recently applied for citizenship because a parent was from Europe. The entire process cost me less than $1k, hiring a translator for the documents and other app fees, but otherwise was fairly seamless. There is a significant amount of documents needed as bull noted. Takes some time for approvals (one year for mine) so get going sooner than later
Yeah some of the "blood linked" ones are pretty easy to get. Left it out since won't apply unless we know your situation. That's a good move though and congrats!
Believe it or not reddit is also a good resource when navigating the process
Great topic. I'm actively pursuing this path for my family. As an added bonus, if you have a family, several countries allow you to apply as a family. Set the next generation up for success.
Yeah Grenada allows the citizenship to be passed down
schiffsovereign.com is a good resource for 2nd passports
I thought in case of Turkey it's 400k real estate investment OR 500k capital investment
Could be wrong, will check and update. Guessing you are right but as stated living in turkey... not ideal
born in canada, got lucky and married rich af canadian girl (ty grandpa's mink ranch) and now at quiet fuck you level of wealth, mortgage free 90k vehicles paid cash mba high w-2 sales crypto 3 RE rentals and now the money doesn't matter in the nicest way, its all about the time spent being relaxed, happy, and not over stimulated. fuck the fed and paying 42%+ income tax but anyway
reader since 2017 (tech sales article changed my life bros) https://wsparchive.substack.com/p/enterprise-sales-a-legitimate-career
ty bowtied and jungle
"While it isn’t statistically possible for everyone to make it into the top 1%, it’s pretty reasonable to be one of the mortgage free home owners with some online income and a W-2. The majority would probably be ecstatic to be in this position and there is only so much that money can buy before your priorities switch to life events: family, friends and your health."
Hi bull,
could use some tips on portfolio allocation.
70k port, right now 50/50 BTC/ETH.
I had 45/45/10 BTC/ETH/SOL before but I sold the SOL because "OK even if SOL does a 3-4x from here compared to BTC/ETH 2-3x it's really not much difference (7k$)". One could of course also argue to just hold the SOL since SOL going to 0 wouldn't make any real difference either.
I know none of it actually matters with such a small portfolio, but I wanna get my mindset right regarding portfolio allocation for when it gets bigger.
Here is additional information on citizenships in Latin America your readers might find useful.
(i) If you give birth to children there, parents are eligible to citizenships within 1/2 years automatically for some countries. Lot of Russians done this.
(ii) Argentina: the easiest way is to get residency is via the rentista visa. This requires 24K a year of passive income. After two years (staying there at least 6 months) you can start process to naturalise. Argentinian citizenship can not be revoked.
Uruguay: you need to be a resident for 3 years (if married) or 5 years (if single) to to be eligible.
Mexico: is 5 years as a resident where in the last 2 years you need to be there at least 6 months.
Peru: resident for at least 2 years (spending 183 days a year).
Some countries are harder in reality. For example, for Paraguay on paper it is 3 years as a resident. However, you need to show substantial ties to the country; living there at least 6 months a year, paying tax, perhaps having property or a local business. Best way to get a sense of this, is finding out many foreigners have been able to naturalise for your country of interest.
(iii) If you are serious about moving to Latin America, local banking will be a problem you encounter sooner or later. Best places are HSBC/Santander in Uruguay or Towerbank in Panama (crypto friendly). There are people on twitter selling bank opening as a service, but would recommend doing this yourself.
Great post. I would expect to see provisional citizenship offers to meaningful BTC (and/or ETH) holders in the future as well.
When you say consulting what kind of services do you have in mind?
Whatever you personally do for work
It's not ideal but works for people who need to understand it is possible to make money online