Political upheavals, economic crashes, and the global pandemic has brought us a world filled with uncertainty. The impacts of the most recent global pandemic are still playing out, but we are already seeing the effects of it upend industries and economies.

It has sparked social unrest and with it has come all kinds of restrictions on freedom, complete economic shutdowns, reckless printing of trillions of dollars, jobs and livelihoods lost, and the list goes on. 

The one blessing in disguise is that it has shaken many people enough for them to understand that they do not have as much control and safety over their lives and wealth as they were once led to believe. People now see the need to look for alternative solutions and ways to secure their own personal and financial freedom, and many are taking the necessary steps to actually do something about it. 

Loss of Freedoms

When a time comes when your freedom of movement is limited and individual liberties dismissed is a time that necessitates a Plan B.  

One does not need to look very far afield to see the deterioration of the cherished rights and securities we have once taken for granted. Examples of governments stealing money from their citizens as in Cyprus or prying on the privacy of its citizens as in the US are all too common.

Obtaining a second passport, citizenship, or place of residence is becoming increasingly sought after as an alternative form of protection when governments and banks fail to have your interest at heart. This is in fact the single most important and effective form of political and economic protection you can give yourself.

Second Crypto Citizenship

Obtaining a second citizenship, in comparison to a residency is the most desirable, as this not only leads to a passport and residency privileges but gives a host of other benefits and advantages such as the right to live and work as well as ID cards, insurance, voting, access to financing, and heredity privileges. While citizenship always comes with a passport, a passport does not always come with citizenship. 

The last decade has seen a surge in interest in second passport programs. Demand for an alternative place to call home has only increased as the pandemic swept across the world. Seeing this as an opportunity several countries have responded. It is now possible to get a second passport using crypto assets as a form of payment for as little as 130,000 USD. The tiny island of Vanuatu now accepts bitcoin as payment for a second passport application where you can even fast track your application and get the process completed in as little as 1 month.

This is the first time in the world that a citizenship by investment program has accepted bitcoin as a payment method and certainly will not be the last. Antigua and Barbuda have already begun the process and look to be able to give citizenship in lieu of a bitcoin donation by the end of this year. 

Diversification

The diversification of your assets in multiple jurisdictions is the first piece of advice any risk-averse investment manager would advise. Having a second place of residence effectively accomplishes this, and gives you many banking and business opportunities including the future potential to apply for citizenship status and a passport after a certain number of years.

For those not necessarily looking for a second citizenship there are crypto-friendly countries that offer incentives for investors to move their capital, such as no crypto taxes on crypto capital gains as well as a crypto-friendly regulatory environment.

Malta and Portugal offer crypto investors an ideal environment for setting up shop. Many of these countries also offer alternative paths to citizenship.

The main three ways to get your hands on a second citizenship is through residency, investment, or birth. (1) Residency usually takes 5+ years before you can apply through naturalization. (2) Investment costs anywhere from 100k-1mil where the donation is given to the country's development fund. (3) And lastly through ancestry, birth or family relatives. Getting citizenship through naturalization canalso happen through an investor, business or golden visa programs that are now becoming popular in places like Malta and Portugal.

However, there is no easy route, as each takes time or money. However, in the end it is worth it as it gives you benefits such as:

• Visa-Free Travel
• Freedom from Your government's authority
• Individual sovereignty
• Tax breaks
• Ability to Pass citizenship to future generations
• Social and medical benefits
• Investment opportunities

Why You Need a Plan B

Having a Plan B is no longer luxury, but a necessity. If nothing else was learned during the pandemic it was that our freedom of movement is completely dictated by the government who can close borders whenever they want under the guise of protecting their citizens.

Freedom of movement is something we largely take for granted until it's gone. A Plan B is an insurance policy so that you can exercise your right to move when you see fit. For many, these days appear to be nearing; and for this reason more people than ever before are seeking out second citizenship opportunities with 2020 seeing an increase of over 50% in applications through citizenship by investment programs.

A Plan B is a part of a greater holistic diversification strategy that seeks to offshore every part of your life so that you are not beholden to any single institution or state actor. This means the diversification of your bank accounts and assets, in different countries, accounts, banks and assets classes so that you are not tied to the longevity of any single factor or institution.

A second passport works in much the same way. If you live in a country that has an overly invasive government it's only a matter of time before you find yourself confronted by an overzealous state. While in some countries this may be played out as but a minimal inconvenience, in others it can be a matter of life and death. The message is simple: Develop a Plan B, while you can.