The CHEAPEST New Second Passport Program

Summary

In this video, Andrew Henderson introduces Nauru's new citizenship-by-investment program, the most affordable option for families seeking a second passport. For a single applicant, the cost is $105,000, while a family of four can apply for just $110,000. The program is designed for individuals seeking a backup plan, particularly those from Western countries concerned about global taxation or political instability. While Nauru offers visa-free travel to 89 countries, including the UK and UAE, it's a remote, geopolitically neutral country with limited access compared to other Caribbean programs. This opportunity provides a viable option for securing a secondary passport at an affordable price.

Takeaways

• 😀 Nauru, a small South Pacific island, has introduced a new and affordable citizenship by investment program for individuals and families.
• 😀 The cost of citizenship in Nauru is $105,000 for a single applicant and $110,000 for a family of up to four, making it one of the most affordable options on the market.
• 😀 Nauru's program is primarily donation-based, with an additional $25,000 application fee and due diligence fees of $10,000 for the main applicant.
• 😀 Processing time for the Nauru citizenship program is around 3-4 months, with no physical presence requirement.
• 😀 The Nauru passport offers visa-free travel to 89 countries, including the UK and Ireland, though it does not offer access to the Schengen Area in Europe.
• 😀 Nauru aims to use the funds from the citizenship program to improve the country's climate resilience, particularly concerning rising sea levels.
• 😀 The program is designed as a backup plan for individuals, particularly from Western countries, who might face threats like citizenship-based taxation in their home countries.
• 😀 Nauru's isolated location and neutral stance in geopolitics can be appealing for those seeking a peaceful and safe backup option.
• 😀 The Nauru citizenship program is not suitable for those planning to renounce their current citizenship soon, as the Nauru passport is less advantageous compared to Caribbean programs.
• 😀 While Nauru offers a second passport, it does not provide an immediate path to a residence permit in other countries, though it may be useful for individuals seeking to build a portfolio of passports and residence permits.

Q & A

What is the new citizenship program introduced by Nauru, and how does it compare to other citizenship by investment programs?

Nauru has introduced an affordable citizenship by investment program, making it the most cost-effective option for families. For a single applicant, the cost is $105,000, and for a family of up to four, the cost is $110,000. This program is considered more affordable compared to Caribbean programs, which have recently seen price increases. However, Nauru's passport offers limited travel benefits compared to Caribbean options.

Who is the target audience for Nauru's citizenship by investment program?

The target audience for Nauru's citizenship program primarily includes Western citizens, such as Americans, Canadians, and Australians, who may want a backup passport in case of geopolitical or economic changes. It is also ideal for those who seek a low-cost second passport but don't require extensive visa-free travel access.

How does the process for obtaining Nauru citizenship work?

The process involves submitting an application with required documents, passing due diligence checks, and taking an oath of allegiance to Nauru. After approval, applicants pay the citizenship donation fee ($105,000 for a single applicant, $110,000 for a family), along with additional application and due diligence fees. The entire process is expected to take 3-4 months.

What are the benefits of having a Nauru passport in terms of visa-free travel?

A Nauru passport offers visa-free access to 89 countries, which includes access to the UK, Ireland, the UAE, and Russia. However, it does not grant access to the Schengen Area in Europe. It offers limited global mobility compared to more established Caribbean citizenship programs.

What are the due diligence requirements for applying for Nauru citizenship?

Applicants must undergo a background check, which includes providing proof of funds, a clean criminal record, and meeting the age requirement (18 years or older). There is a due diligence fee of $10,000 for the main applicant and $7,500 for each additional family member over the age of 16.

Why is Nauru considered a geographically isolated country, and how does this impact its citizenship program?

Nauru is one of the most geographically isolated countries in the world, with only 13,000 residents. This isolation means it is harder to travel to and live in compared to more accessible countries. However, this also contributes to the country's neutrality and the perception that it could serve as a peaceful backup plan for individuals seeking a low-profile second citizenship.

What are the main advantages and disadvantages of Nauru's citizenship program?

The advantages include affordability ($105,000 for a single applicant, $110,000 for a family), relatively fast processing times (3-4 months), and the ability to add family members at a low additional cost. The disadvantages are its limited global mobility, with fewer visa-free travel options compared to Caribbean programs, and the geographical isolation of Nauru, which may make it impractical for some people.

How does Nauru's citizenship program compare to the Caribbean citizenship by investment programs?

Nauru's citizenship program is more affordable than Caribbean programs, which have seen significant price hikes. While Caribbean passports offer greater global mobility, Nauru's program offers a cheaper option for a backup passport, especially for individuals who are not seeking frequent travel but rather a contingency option in case of unforeseen political or economic shifts.

Can Nauru's citizenship by investment program be used as a backup plan for those concerned about citizenship-based taxation?

Yes, Nauru's citizenship can be a useful backup plan for individuals from countries like the US, Canada, or France, where citizenship-based taxation might be a concern in the future. By obtaining Nauru citizenship, individuals could potentially avoid future taxes from their home countries if they decide to renounce their citizenship.

What challenges might applicants face when using a Nauru passport for global travel?

The challenges include limited visa-free access to certain countries, particularly in Europe (Schengen Area). Additionally, Nauru's geographical isolation means that traveling there, or using it as a base, could be difficult and expensive. Nauru is not a popular destination for international business or tourism, which could limit practical use of its passport.