{"id":39831,"date":"2022-03-05T11:24:20","date_gmt":"2022-03-05T07:24:20","guid":{"rendered":"https:\/\/www.savoryandpartners.com\/?p=39831"},"modified":"2022-04-22T11:32:24","modified_gmt":"2022-04-22T07:32:24","slug":"how-citizenship-by-investment-unlocks-the-potential-of-cryptocurrency","status":"publish","type":"post","link":"https:\/\/old.savoryandparnters.com\/blog\/how-citizenship-by-investment-unlocks-the-potential-of-cryptocurrency\/","title":{"rendered":"How Citizenship by Investment Unlocks the Potential of Cryptocurrency"},"content":{"rendered":"

The debate revolving around the true meanings of sovereignty and freedom greatly increased over the past couple of years. The pursuit of one’s individuality in a world dominated by identification has made headlines, focusing heavily on the growing trend of cryptocurrency.<\/span><\/p>\n

As blockchain technology continues to evolve, an increasing number of people have jumped on the bandwagon, investing in various types of digital currency.<\/span><\/p>\n

While the growing values of major cryptocurrencies such as Bitcoin or Ethereum have undoubtedly played a significant role in attracting a large number of investors, it is the potential of cryptocurrency that remains its main allure.<\/span><\/p>\n

Find out the top reasons why you should move with your family to Portugal in this link.<\/span><\/a><\/strong><\/em><\/p>\n

But there is one more factor that makes cryptocurrency a highly sought out venture, the financial independence it brings to the table. Cryptocurrency is truly decentralized, giving its holders the freedom to roam free<\/strong>. Yet, there is another venture that provides similar advantages in terms of physical freedom; citizenship by investment<\/a>.<\/span><\/p>\n

Those with more than one nationality enjoy greater travel, economic, and political freedom than single nationality holders. This sovereignty gives breath to an entirely different lifestyle, just as cryptocurrency destroys the shackles of centralized finance. Hence, it is only reasonable that both ventures go hand in hand, but that is just the beginning.<\/span><\/p>\n

Where Cryptocurrency & Citizenship by Investment Intersect<\/span><\/span><\/strong><\/em><\/h3>\n

The intersection point of both cryptocurrency and citizenship by investment<\/a> is clear – freedom. But the real beauty of the matter is how both issues elegantly harmonize, complementing each other to achieve even greater potential.<\/span><\/p>\n

Cryptocurrency on its own may be shackled by certain regulations. In the United States of America<\/a>, for example, cryptocurrency investors can have a tough time dealing with their crypto-assets. Americans are notoriously excluded from certain new coin offerings, while the US Internal Revenue Service (IRS)<\/a> taxes capital gains on profit made from cryptocurrency sales exceeding 10,000 USD.<\/span><\/p>\n

But that is just the start of it. Let’s say a crypto investor sells one Bitcoin, which is about 68,000 USD. A staggering 58,000 USD of that sum would be liable for capital gains tax.<\/span><\/p>\n

\"Crypto

Cryptocurrency-friendly countries such as Portugal also offer Residency by Investment programs.<\/p><\/div>\n

Crypto In The Caribbean<\/span><\/span><\/strong><\/em><\/h3>\n

In the Caribbean, however, cryptocurrency gains are not taxed, mainly because the Caribbean nation’s governments do not impose any capital gains tax<\/strong>.<\/span><\/p>\n

Citizens are not excluded from coin offerings, and banks in the region do not shy away from working with crypto investors.<\/span><\/p>\n

Major cryptocurrency investors, like the renowned Roger Ver, have taken the plunge, by obtaining a St. Kitts & Nevis passport<\/a>, renouncing their US one, and living life to the fullest in the Caribbean.<\/span><\/p>\n

Cryptocurrency gives people a certain degree of financial freedom, but its entire potential is unlocked through obtaining citizenship of a crypto-friendly, tax-favourable country in the Caribbean.<\/span><\/p>\n

Prime Minister of Dominica visited Savory & Partners office in Dubai. Read about his visit here.<\/strong><\/a><\/em><\/p>\n

The five islands in the Caribbean that offer Citizenship by Investment are<\/span><\/span> part of the Eastern Caribbean Currency Union (ECCU), which is the first political-economic organization to launch its own digital currency, dubbed\u202f<\/span>DCash<\/span>.<\/span><\/span>\u00a0<\/span><\/p>\n

Whether the <\/span>ECCU\u2019s\u202f<\/span>DCash<\/span>\u202fgarners<\/span> the same enthusiasm as Bitcoin has\u202f<\/span>is<\/span>\u202fstill to be seen, but the entire enterprise is a testament to the organization\u2019s (and its member\u2019s) attitude toward cryptocurrency.<\/span><\/span>\u00a0<\/span><\/p>\n

The<\/span> C<\/span>itizenship by <\/span>I<\/span>nvestment program<\/span>s in the Caribbean<\/span><\/a><\/span> has long been a route for <\/span>high-net-worth<\/span> individuals (HNWIs) to obtain greater global mobility, enhanced financial freedom, and a robust plan to mitigate political and economic instability.<\/span><\/span><\/p>\n

Crypto & Global Freedom<\/span><\/span><\/strong><\/em><\/h3>\n

Combining Citizenship by Investment Programs<\/a> with cryptocurrency elevates the degree of freedom, allowing a person to roam the globe\u202f<\/span>along with\u202ftheir wealth.<\/span><\/p>\n

Combining second citizenship with cryptocurrency knocks down all types of major barriers, giving the term individual sovereignty much more meaning.<\/span><\/p>\n

Discover Why Cryptocurrencies Grant You Global Freedom In This Video<\/strong><\/p>\n