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For some reason, Americans, Australians and others who want to renounce their citizenship believe they should replace it with a European passport.

Namely, there has always been this aspirational feeling about Europe, as a cool place to live in, but is it really like that?

People also think it’s relatively easy to get an EU passport and that is somewhat true, in case you're applying for citizenship by descent - in Italy, Ireland or some other country.

However, you'll still have to pay pretty high taxes, learn the language, etc, so if you just want to keep things simple and live a relaxed offshore life – the EU is definitely not the answer.

At the end of the day, if you really want to live in Europe, you can always get a residence permit or a Golden Visa.

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ABOUT NOMAD CAPITALIST

Andrew Henderson is the world's most sought-after consultant on legal offshore tax reduction, investment immigration, and global citizenship. He works exclusively with six- and seven-figure entrepreneurs and investors who want to "go where they're treated best".

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Andrew has spent the last 11 years studying and personally implementing the Nomad Capitalist lifestyle, and has started offshore companies, opened offshore bank accounts, obtained multiple second passports, and purchased real estate in a total of 20 countries.

He has also spent years creating a behavior-based system that helps people get the results they want faster and with less resistance. Andrew believes that everyone can use offshore strategies to keep more of their own money, live a life of freedom, and grow their wealth faster.

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DISCLAIMER: The information in this video should not be considered tax, financial, investment, or any kind of professional advice. Only a professional diagnosis of your specific situation can determine which strategies are appropriate for your needs. Nomad Capitalist can and does not provide advice unless/until engaged by you.

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