Reporting requirements when applying for residency/citizenship programs

SMC

Black paper

Between 2020’s lockdowns, destructive protests, and the tumultuous US Presidential election, the light bulb went off for some Americans.

“What if I need to get out of here… and quickly?”

Last year was the moment when some finally realized that it’s simply dangerous to depend on a single country. In fact, Americans were the number three nationality that applied for Portugal’s popular Golden Visa program, behind only Chinese and Brazilians.

Foreign residencies and second citizenships can expand your options and freedom. You can relax beachside and watch the chaos unfolding from afar.

But Uncle Sam being, well, Uncle Sam -- if you gain a foreign residency or second citizenship, there may be US tax reporting to complete. And in some cases, you’ll still need to pay US taxes.

However, don’t let tax reporting deter you from going abroad.

As we will show you in this report, with the right help, the reporting can be a minor nuisance, multiple times outweighed by the benefits of your second passport or foreign residency.

(Canadians, Australians, etc., you may have related reporting, too. We do not cover it in this report, but please write to clients@sovereignman.com if you need a professional reference in your country.)

Between 2020’s lockdowns, destructive protests, and the tumultuous US Presidential election, the light bulb went off for some Americans. “What if I need to get out of here… and quickly?” Last year was the moment when some finally realized that it’s simply dangerous to depend on a single country. In fact, Americans were the number…

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