How to get New Zealand citizenship? Is it worth it? What are the tax consequences?
New Zealand citizenship has become a popular "bolthole" option for the global affluent, and we get a lot of questions about it here at Nomad Capitalist. But Andrew says "not so fast".
For one, if you're an entrepreneur, you will have to either have a very good job offer there or make an investment of about $1 million just to become resident. But that's not all...
Unlike some countries that grant you citizenship as soon as you invest, to become a New Zealand citizen you need to spend time there.
Now, this won't be a problem for all the nature lovers out there who enjoy exploring New Zealand's awe-inspiring scenery.
However, if traveling is in your blood and you're supposed to stay in one place for 8 months every year, this will be hard to maneuver. What's more, to get your second passport there will take five years and there's no going around it.
One of the first reasons why business expats seek out second citizenship is to reduce taxes, and that will not happen if you choose New Zealand for your new home.
Even if you're making money offshore, you will have to pay taxes for it, which is not the best case scenario, especially because in Nomad Capitalist we strive to help people avoid just that.
Obtaining New Zealand citizenship is a long and potentially costly project and if you're a businessman looking to branch out, there are numerous better options for you out there, just ask Andrew.
In case you don't want to go anywhere else and living in New Zealand is your dream, then you know what to expect when you apply for residence.
Andrew knows there are easier ways to get a second passport than to go for developed, English-speaking countries like Australia and New Zealand and he shares his insights with you right here, on his channel.
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".
Work with Andrew: http://bit.ly/Nomad-Capitalist-Application
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.
About Andrew: http://nomadcapitalist.com/about/andrew-henderson/
Our website: http://www.nomadcapitalist.com
Buy Andrew's book: https://amzn.to/2QKQqR0
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.