Home European Citizenship 6 Easy Second Residencies in Europe

6 Easy Second Residencies in Europe

Looking for an easy second residence or second passport in Europe?

European Union countries have never been the easiest second residencies for affluent people seeking to reduce their taxes, but there are several alternatives for living in Europe.

If you have money to invest in real estate or deposit into the bank, EU countries like Latvia are worth considering. If you want a lightweight, easier residence, consider countries outside the European Union, like Montenegro, Albania, or Georgia.

2:26 Latvia
3:57 Armenia
5:05 Montenegro
6:38 Albania
7:21 Serbia
8:02 Georgia

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Andrew Henderson is the world’s most sought-after consultant on legal offshore tax reduction, investment immigration, and global citizenship. He works exclusively with six- and seven-figure entrepreneurs and investors who want to “go where they’re treated best”.

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Andrew has spent the last 11 years studying and personally implementing the Nomad Capitalist lifestyle, and has started offshore companies, opened offshore bank accounts, obtained multiple second passports, and purchased real estate in a total of 20 countries.

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DISCLAIMER: The information in this video should not be considered tax, financial, investment, or any kind of professional advice. Only a professional diagnosis of your specific situation can determine which strategies are appropriate for your needs. Nomad Capitalist can and does not provide advice unless/until engaged by you.

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25 COMMENTS

  1. As a Latvian from Rīga I appreciate the rare intelligence of this character by saying Northern Europe. Yes, we are the North, and regular American would say “eastern block” and that’s always insulting. So Andrew does good with Latvia. Thanks from Miami ✅ you don’t want to live here, it sucks, this is the A-hole of America if not the world 😬 we are here to make money and leave to Latvia, Roatan Honduras & another undecided location. Roatan is a gem 💎

  2. I really enjoy your videos but it seems like you’re pretty anti-Schengen. I understand this from a tax standpoint but I have no interest in living in Central America, or North America for that matter, or Asia, so Although taxes aren’t ideal I think for most of us here we want Schengen travel. And on that line, even as a 6 figure entrepreneur there are plenty of options in Greece, Portugal, France, etc. with a very low barrier to entry. €24k in a bank account being pretty doable for most interested, taxes can be claimed and paid offshore elsewhere if you choose. I don’t see how that doesn’t make the list.

  3. Hi Andew, love your videos. Here's my "nomad minimalist" story, but I still glean good info from your plans for wealthy folks: Retired MD here, left US medicine at 51, ran a B&B for 10 years in Phoenix, paid no personal taxes and saved money, moved to Lake Chapala, Mexico at 61, got permanent residency after 2 years, sold everything in AZ in 2018, and bought an Airbnb property on the Dutch Caribbean island of Saba (which I'd been visiting for 37 years) and invested some of my profit into expanding it. Now at 72 I enjoy the more minimalist lifestyle of my "trifecta:" 6+ months on Saba to maintain my residency (which grants me immediate, complete, and unequivocal worldwide health care coverage in the Dutch system for no premium so I was able to drop Medicare/Part B supplement /travel insurance,) while I run my Airbnb in the high season, then 2-3 months at Lake Chapala in the mid to later summer (beautiful weather then,) and then a 4-6 week stint in Europe staying 2-3 weeks each in different places in Airbnbs Sept-Nov, then back to Saba for the season. I get new places from your vids. I have an island manager who takes care of the fewer Airbnb guests we get in the summer here. The Caribbean Netherlands also taxes your worldwide income but because I make a modest but sufficient amount from my rentals plus I have my SS, I cut my IRA distributions to the RMD. The Dutch don't tax rental income unless you do it as a major business and the amount falls way under the FEIE ceiling, so with their generous deduction of $13,500 and starting taxation at $12,000 even though it's 30.4%, plus being able to deduct one country's tax off the others by treaty, my Dutch tax is way below my US so I pay none at present. In 4 more years I qualify for Dutch (EU) citizenship, and like you, I haven't felt part of the US for many decades now, I may just do it simply to be able to stay in the Schengen area for more than 90 days and no longer pay the higher US tax on my global income. I does require renunciation, passing a Dutch language and civics test which I'm sure I'll be able to do even at 76. I'll see how I feel when the opportunity arrives. Oh, by the way, our neighbors on St. Kitts go by "Kittitians." (Sounds like "Ka-ti-shuns."

  4. We are aware of the horde of third worlders flocking.. And will still be so after i buy.. Maybe wait till dust settles?.. I wish i were that liquid that i could just up and book

  5. This video is a little bit mystifying, unless it's aimed only at the affluent. You can get a business license (setting yourself up as writer/editor or whatever) and residency permit in Romania pretty easily, and pay less than $1,000 total if you find the right lawyer. No more than $2,000. It is even cheaper to get (again with the help of locals) a trade license and residency permit in the Czech Republic. I believe the same is the case in Serbia. I'm sure there are several more European countries where you can get a residency permit without hundreds of thousands of dollars. (I stopped watching the video after the 280,000 euro investment in Latvia,)

  6. Two relatively easy residencies in Europe that are great for retirees , or digital nomads :

    1. Cyprus "pink-slip" : one year renewable non-working visa (after 5 years permanent residency and then citizenship) : Very easy to obtain and to renew !

    2. Spain non-lucrative visa : slightly more difficult than Cyprus' "pink-slip" but still easy to get (and it eventually leads to residency and citizenship)

    Both of the above visas do not require you to buy property but just to show that you have enough money / income to maintain yourself without working in the country itself (no problems working online from home)

  7. I am interested in Valencia Spain and the Costa Blanca region. However being a resident under a non lucrative visa, I would fall under Spain's 45% income tax. Since I would be a retiree from the U.S, living off my pension and investments all in the U.S. is there any way around Spain's 45% income tax rate? The golden visa is not an attractive option.

  8. Albania hmmm. I’ve been thinking about Turkey but I’m intrigued by the 500 euro a meter w/ a view. Question? What if you’re not a six or seven figure nomad capitalist just yet but still eager to invest in a small property abroad. Would it be possible to go in on a property with a friend or two as sort of a timeshare situation. 16 family members all living in the same place is crazy but 2 or 3 friends traveling at different times? What do you recommend?

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