The Expat Money Show - With Mikkel Thorup

347: Could Your Passport Be Your Downfall?

Apr 16, 2025

Could your passport be more of a curse than a blessing? Discover how U.S. citizenship could pose risks for expats and learn the truth behind military conscription myths. Unpack the complexities of multiple citizenships, including how they enhance freedom. Debunk common fears around exit bans and citizenship-based taxation, which only affects a couple of countries. Plus, explore investment opportunities in Panama and beyond, making global mobility easier and more lucrative!

27:36

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Quick takeaways

Holding multiple passports enhances global mobility and legal flexibility, which is vital in navigating citizenship-based taxation challenges.

The recent decision to maintain the $300,000 investor visa threshold in Panama creates an urgent opportunity for potential expatriates and investors.

Deep dives

Panama's Investor Visa Retained

The Panamanian government has decided to keep the investor visa threshold at $300,000 for real estate investment, avoiding an increase that could have significantly deterred prospective foreign investors. This decision benefits those looking to immigrate or invest in Panama, marking a significant development in international investment opportunities within the country. Given the potential for changes in government policies, the future of this visa program remains uncertain, prompting an urgency for interested individuals to explore Panama now. This creates a timely opportunity for potential investors and expatriates to consider relocating to Panama and assess its lifestyle and investment benefits.

Intro

13min

Navigating the Complexities of Multiple Passports

12min

Exploring Investment Opportunities in Panama and Beyond

2min

A passport is crucial to your freedom and global mobility, but what if your citizenship could be a liability? I recently read an interesting article on IMI Daily called “13 Ways Your Passport Could Ruin Your Life.” While I agree with many of the author’s points, I believe most of the real-world risks are misunderstood—and far more manageable—than people realize. In today’s episode, I expand on each of the 13 points, breaking them down one by one through the lens of my two decades of real-world offshore experience. I cover the good, the bad, and the misunderstood—and I’ll show you exactly how to easily avoid any potential pitfalls while building a solid offshore Plan-B. Enjoy today’s episode!

IN TODAY’S EPISODE:

Listen in as I explain why U.S. citizenship is one of the most dangerous liabilities in the offshore world
Learn the truth about mandatory military conscription—and why it’s almost never a real threat for expats
Tune in to find out how to avoid passport profiling at borders and why more citizenships = more freedom
Hear me debunk some common myths about citizenship-based taxation and learn about the only two countries in the world that practice it.
Discover the surprising truth about dual citizenship bans—and why they rarely limit serious expats
Find out why the fearmongering around “exit bans” is mostly nonsense—and what really matters when choosing a second passport

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Every month, we offer exciting new webinars for our community. Topics include how to use retirement accounts to buy real estate overseas, how to get a second passport in Latin America, why you should sell your stock portfolio and move your money offshore, how to buy a beachfront rental property in Brazil for less than $100k, or apartments in Paraguay for $60k. If you want to join us for FREE for these presentations with live Q&A, insider secrets, and exclusive opportunities with my professional network of experts, then sign up today.

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Join Me In Panama For Our Next Tour

I have great news. After many meetings and explanations, the Panamanian government has agreed to keep the Investors Visa at a $300k Real Estate investment instead of nearly doubling the amount required, as they said they would. This is a massive win for our community who wants to move to or invest in Panama, but I am not sure how long this will last… If you have been thinking about Panama, then I want to make an invitation to you today. Come join me for a special four-day tour to see if the country I call home is right for you and your family. We have just released the next set of trip dates. You can find out more at ExpatMoney.com/fly. Come visit me and the Expat Money team, get a feel for the country and see if Panama makes sense for investment or as a new home.

Panama Fly'n Buy Real Estate Tour