Why you need to diversify your passport portfolio (as an EU citizen)

I have been talking about why I think an EU citizenship is not as appealing as it used to be.

In fact, if you are a high-net-worth individual and you only have an EU passport, you're most likely taking a massive risk in your wealth planning strategy.

Let me explain:

Europe de-industrialized and blew up the economy. Now, EU countries are bankrupt and preparing for asset seizure. Central banks are insolvent. This is how they bail them out:

First, they printed trillions and told you inflation was transitory.

Now, they're taxing billions and telling you taxes are transitory!

Don't believe me?

Wealth tax spreading among European countries.

France just announced new tax hikes. But don't worry: they only target the rich. The problem is, with inflation, the real wealth required to be rich is lower and lower every year. Soon, everybody will be wealthy. At least wealthy enough to pay wealth taxes.

Norway raised wealth taxes to bring an additional $146M in yearly tax revenue. Instead, individuals worth $54B left the country, leading to a loss of $594M in yearly wealth tax revenue. A net decrease of $448M.

Spain just recorded 1,000 fewer high-net-worth taxpayers, the first negative millionaire migration since the country imposed a tax on wealth. Thousands of millionaires are leaving while (coincidentally) tax pressure is at all-time highs.

When voice is no longer an option, exit...

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Preventing high-net-worth individuals from leaving: exit tax.

In the UK, millionaires and billionaires are escaping as fast as they can.

The proposed solution? An exit tax for citizens leaving the country!

The Netherlands also proposed an exit tax for citizens leaving the country.

Modern feudalism is coming to European countries. Leave, but leave behind your assets.

What's coming next is not just inflation and taxation, it's confiscation.

First, they will register all your assets in a central EU register to "help with financial transparency." Your bank accounts, shares, cars, precious metals, works of art, and Bitcoin... register it all to "fight money laundering"

Italy and France will raise capital gains taxes from 26% to 42% to target Bitcoin holders.

So eventually, they will try to seize all your Bitcoin. Just like the US seized gold with Executive Order 6102. Eventually may be soon. So buy Bitcoin and get it off exchanges. They can't seize Bitcoin you self-custody.

If you don't comply with global citizenship-based taxation, they will revoke your passport.

A mobility freeze (similar to what they did in 2020 with endless lockdowns and exit denials) is comparable to an asset seizure. Both are government crackdowns on freedom.

Protection from asset seizures is not just about protecting your money with Bitcoin, but also protecting yourself with alternative passports.

Your citizenship is an asset.