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BEWARE OF Economic Citizenship- Second Passport Scams

BEWARE OF Economic Citizenship- Second Passport Scams: Getting a second passport can set you free. But if not done right, it can also land you in hot water -- as several clients of previous supposedly legitimate economic citizenship programs are finding to their costs. Peter Macfarlane reports. Second passports are increasingly important as means of achieving freedom and privacy. The paradox of the world becoming at once more globalized and more mobile, yet at the same time more restricted, means that holding just one passport puts you at the mercy of just one government. Our American cousins have it particularly bad, because US citizens are the only people who are subject to taxation on their worldwide income no matter where they live. While wealthy Russians and Chinese who wanted easier visa-free travel were in the past the main groups seeking second passports, today American tax exiles seeking to renounce American citizenship and escape the tax burden are the main consumers. If you've read anything about second passports, you will have heard of low level scams offering citizenship from countries as diverse as Guyana, Surinam, Mexico, Monaco and Liechtenstein. These countries have no economic citizenship programs, and if you apply for one of these programs the best that can happen is you will lose your upfront deposit. The worst that can happen is that you will receive a doctored pdf file that is supposedly a 'copy' of your new second passport, requesting you to pay the outstanding balance -- and if you do not pay up you will then be threatend with blackmail. This article however is a little warning about potential problems at a much higher level -- with supposedly legitimate economic citizenship programs.It is about high level corruption and reneging on deals by sovereign governments and well-connected law offices. As a reminder, right now there are only two legitimate second citizenship programs in the world that allow you to qualify for a se

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