What I just read makes a hell of a case for the “better to be a day early than a minute late” sentiment.  

According to this piece in the Guardian, Americans living abroad seeking to renounce their citizenship are facing wait times of a year or more at embassies and consulates in major international cities.

Now, to be clear, renouncing citizenship is a major step, and it is certainly not the first move most people should be thinking about when they begin building a Plan-B.

In most cases, by the time someone is ready to renounce a citizenship, they are already “very far down the road” and are past just thinking about optionality for themselves and their loved ones. 

They are looking at the system they are tied to and saying, “I need to separate myself from this entirely.”

For Americans, separating entirely from the system means renouncing citizenship, as the U.S. is one of only two countries in the world that tax their citizens based on citizenship. 

Regardless of whether you agree with the reasons the individuals interviewed in the Guardian article gave for opting to renounce their U.S citizenship, the point I am trying to make is that your citizenship status is more than a passport or a part of your identity: it determines what you can do, where you can go, how easily you can move, what governments can claim from you, and how much freedom you actually have.

…and now, with legislation coming into effect this December that automatically registers young American men for “selective service”, I suspect that the number of Americans opting to renounce their citizenship will go from only in the thousands per year, to well, a lot more.

Sure, registration was already legally required, and there's not currently a "draft" in place...but don't think for one second this kind of "small step" isn't being taken with a plan to institute it in the (possibly not-so-distant) future, given current world affairs.

It’s one thing to be prudent about wanting to legally minimize your tax obligations (rightfully so), but it’s another to understand that you or your children could be called upon to die for your nation if military conscription ever comes into effect.

Now that longer-than-usual waitlists have begun to form, the government will pay closer attention to capital flight, tax migration, and population movement, and will surely make the process more difficult…

...or remove your right to do so at all. 

The people complaining in the Guardian piece seem like they were long past being official citizens of their nation (mostly for political reasons), but wrongly assumed the door would be swung open for them to waltz through when the timing was right, and that they could just squeeze it into their schedule whenever most convenient.

…as I’ve been saying for years: you can’t just sit idle and assume what's available to you today will be there tomorrow.

This lesson is obviously not just for Americans seeking to renounce their citizenship.

It goes for all of you reading this who are citizens or residents of a nation in decline that is fighting to keep its inhabitants at home and asleep to what is really going on. 

This is exactly why I have been so focused on Paraguay lately and trying to wake you guys up to the fact that right now, Paraguay still offers a straightforward, efficient, and affordable residency pathway.

…not to mention legal residency in a country with abundant energy, food independence, a low-cost operating environment, a young and growing population, and a government that understands the value of attracting productive people and capital…

In plain English…

It is still possible to secure a legal foothold in Paraguay without jumping through the kinds of hoops that have already become the standard in so many other jurisdictions.

I firmly believe this current residency pathway in Paraguay won’t last for much longer.

…I thought this well in advance of the new investor visa that the country just greenlighted a couple of weeks ago, by the way.

Don’t forget, just a couple of years back, securing legal residency in Panama only required a $5,000 dollar bank deposit, and now, for something comparable, it is a $300k real estate investment (soon to likely rise to $500k this October), or a $750k bank deposit.

Do with that information what you will.

Right now, the terms to secure residency in Paraguay are super expat-favourable, the country is well on its way to “powerhouse status”, and to put it bluntly, a thoughtfully led country like Paraguay doesn’t just want “people”… they want “good people”.

I am talking about productive, well-to-do people like you and me, just to be clear.

Demand for Paraguayan residency is rising rapidly, and the government is going to want to benefit from this while simultaneously filtering out people who aren’t going to bring anything to the country with them, metaphorically speaking.

If you wait until you’re at your wits' end and beyond fed up with what’s going on in your home country, there is no telling where you will be able to legally land when it is safer to up and leave with your family.

You don’t want to wait and be out of options.

You don’t want to be reacting to the changes around you when the pressure meter hits a 10.

A real Plan-B must start much earlier than that.

…and it starts with securing legal residency in a jurisdiction that gives you a place to bank, live, invest and operate… another legal foundation outside of the system you currently depend on, so to speak. 

For many of you reading this, Paraguay is one of the best places in the world to do exactly that. 

My team and I have built the legal partnerships, the on-the-ground network and have streamlined our processes to the point where we are now offering our Paraguay Residency Service at scale to the entire Expat Money community.

If you keep waiting to do something that ensures you and your family won’t be locked inside your own borders when your government gets even more totalitarian or takes more drastic measures to make sure your tax dollars (and your free will) remain theirs, you’re going to be out of luck.

You don’t have time to just kick this down the road until there is a perfect slot in your calendar to take care of this important work.

Don’t be lulled into “comfort” just because the weather is turning, and all seems well when you’re walking down the street in your beautiful, tree-lined neighbourhood.

You know better.

Learn more about why Paraguay is an ideal Plan-B jurisdiction for freedom-minded families and investors, and see how my team can help you swiftly secure your status as a legal resident in Paraguay by visiting: ExpatMoney.com/Residency-in-Paraguay.

Speak soon,

Mikkel

PS. As the capable person you are, you can secure residency on your own terms with my team's support. I fully trust you to do this successfully, so long as you have us guiding you from a distance. That said, there is no better way than to do so alongside myself and our group of like-minded Expat Money community members during our October Expat Exploration & Investment Tour. Over 9 days, we’ll guide you through the residency process while also evaluating some of the country’s highest-upside investment opportunities. See what it’s all about here, and see for yourself how we have designed the tour to be equal parts Plan-B business and bucket-list-worthy adventure by visiting ExpatMoney.com/Paraguay. 

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