Why You Should Leave Your Country | Andrew Henderson
Bankless
Bankless
4.7 • 1.2K Ratings
🗓️ 10 July 2024
⏱️ 88 minutes
🧾️ Download transcript
Summary
Is it a good idea to diversify your citizenship given the current global landscape?
We brought on Andrew Henderson, an entrepreneur, a global citizen to nearly a dozen countries around the world, and the founder Nomad Capitalist - a company that helps people maximize their freedom by getting multiple citizenships and passports.
Hear why considering a second or even a third citizenship might be beneficial, the most crypto-friendly jurisdictions, and what an exit tax entails. Andrew also shares why he renounced his US citizenship and provides insights into the costs and process of obtaining a second passport.
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TIMESTAMPS
0:00 Intro
6:04 Where Is Andrew?
6:52 Andrew’s Citizenships?
8:26 Audience Overview
10:47 Andrew On Multiple Citizenship?
14:41 Option To Exit
21:17 Why Multiple Citizenship?
29:01 Is Multiple Citizenship Urgent?
35:20. What Is Exit Tax?
41:32 Regaining US Citizenship
46:20 Andrew’s Top 5 Citizenships
51:36 Dual Citizenship: Factors & Process
54:30 Who Is It For?
59:31 Lifestyle Trade-Offs
1:03:51 Crypto-Friendly Jurisdictions?
1:06:02 Digital Citizenships?
1:07:19 Is This Unpatriotic?
1:10:54 What If There’s No Option?
1:15:47 Is This Unfair?
0:23:30 Summary & Resources
1:27:21 Closing & Disclosure
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RESOURCES
Andrew Henderson
https://x.com/nomadcapitalist
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Not financial or tax advice. See our investment disclosures here:
https://www.bankless.com/disclosures
Transcript
Click on a timestamp to play from that location
| 0:00.0 | Welcome to Bankless, where today we're exploring the frontier of second passports and second |
| 0:10.3 | citizenship. |
| 0:11.3 | This is Ryan John Adams. |
| 0:12.3 | I'm here with David |
| 0:13.1 | Hoffman and we're here to help you become more bankless. There's a rabbit hole |
| 0:17.9 | we're diving into today. Given the state of the world, the question is, is it a |
| 0:21.6 | good idea to diversify your citizenship? We're talking about your |
| 0:25.3 | nation state citizenship, of course, and we've seen some recent crypto hostility in the West. The question is, what if it gets worse? Should you have a backup plan, a place to |
| 0:35.1 | immigrate? Andrew Henderson on the podcast today, he's an expert in this. A few questions we ask. |
| 0:39.9 | Number one, why should people think about a second or third citizenship? |
| 0:42.9 | What are the benefits? |
| 0:43.9 | Number two, what are the most crypto-friendly jurisdictions? |
| 0:46.6 | What does he recommend? |
| 0:47.9 | Number three, what's an exit tax? |
| 0:50.1 | What does that mean? |
| 0:50.9 | And why did our guests choose to renounce his U.S. citizenship? |
| 0:54.3 | Number four, how much does all of this cost and how do you do it? |
| 0:58.4 | How do you go get a second passport? |
| 1:00.1 | It's worth asking the question, why are we doing this episode? |
| 1:03.0 | My answer for this is because the idea of being like sovereign as an individual |
| 1:07.3 | from your own nation state that you're born in is interesting. |
| 1:11.1 | And without endorsing it, we want to understand this like activity that one can do. |
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