Moving Out of the Country – My Passport Plan
In November I’m executing the next part of my overall five flags plan. Specifically, to acquire two or three additional passports in addition to my current USA passport.
In November I’m doing a big South America tour where I will be hitting the following cities:
- Mexico City, Mexico
- Panama City, Panama
- Asunción, Paraguay
- Buenos Aries, Argentina
- Montevideo, Uruguay
- Bogotá, Colombia
Instead of my usual travel model where I stay a week in a city at a time, on this trip I will only be spending a few days per city to hit more cities (and in some cities, just one day, like Montevideo). I dislike traveling like that, but the primary reason for this trip (in addition to doing seminars and making business contacts) is to start the ball rolling on at least two of my new passports. This means I need to hit more cities as usual.
Specifically, the two passports I’m going after are a Panama passport and a Paraguay passport.
In Panama, if you open a business checking account at a Panamanian bank and deposit at least $5,000, within five years you are eligible for a Panamanian passport. You don’t need to live in Panama. You just need to visit it regularly, show some business ties, and perhaps speak some passable Spanish. All of these things are easily doable for me given five years .
However, sometimes people do this and don’t get a passport for whatever reason. The laws could also change in five years. No problem, that’s why my backup plan is a Paraguay passport. If you fill out all the correct forms and visit Paraguay at least once a year, you are eligible for a passport in as short as three years (though likely it will take longer).
Granted, in both cases (Panama and Paraguay) there is lot of disorganization, legal hassles, red tape, and delays. There are a lot of scams too. I’ll need to be A) very careful and B) very patient. Even if both passports don’t work out, it will still be worth my time.
I’m not focused on just these two countries for my extra passport either. As I stated here, I’m also going to be pursuing an Italy passport (using ancestry citizenship, since I have family there), a Comoros passport (which you can simply buy for about $50,000) and worst case, an Antigua passport (which will cost $140,000, so I’d rather not do it, but for that, I could likely get passports for my kids and Pink Firefly as well).
As usual, if you want one or two things, you don’t pursue those one or two things. You instead need to pursue 4-6 things and you’ll eventually get your two. Redundancy.
I’ll keep you all posted on how things go. I will also post seminar dates and cities at both of my blogs when I know for sure.
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