The New Flag Theory (The Ultimate Plan B Solution)

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The world has dramatically changed in the past few years, so planning your options in it changed as well.
You're probably familiar with the flag theory, or the five flag theory where you pick different countries to fulfill different purposes for you.
Today, we're bringing you updated version of this and we'll call it ''New Flag Theory''.

As the world is becoming more complex, there are more things that one needs to take into consideration. Thinking about offshore companies, bank accounts and having a second passport is simply not enough anymore.
What if you want to qualify for a mortgage? Access to capital is extremely useful, and it can open many business opportunities that you wouldn't have otherwise.
However, this may not be an option because of your lifestyle.

One thing that gained a massive appeal in the past few years when travel was restricted was the appeal of multiple residencies. Many countries, such as Canada and many places in Europe, wouldn't let you enter the country unless you were a resident.
Having residency permit in multiple countries meant the freedom of movement between multiple places, that we wouldn't have otherwise.

After talking about tax residency and paper residency, what about your life? Where do you actually want to live?
I strongly believe that having multiple homes is a great idea, so when you switch between multiple countries you don't need to live out of a suitcase. Your quality of life will be much higher if you have a stable home in countries that you love.

Having a residency, and a home in some place will open multiple opportunities to you, such as the ability to build a history with banks and have access to credit. This is huge! It's very smart to think about this option when planning your life.
Who are we and what do we do?

We are Offshore Citizen team. We help people become global: get a second passport, set up a second residency, pay less taxes, do banking abroad, etc.

We have lots of interesting articles on different topics, we have relevant information up to date.
Author: Michael Rosmer

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