Home European Citizenship 6 Easy Second Residencies in Latin America

6 Easy Second Residencies in Latin America

When talking about second residencies and passports, Latin America often comes to one’s mind, because of their relatively easy residence programs and procedures.

Your choice will largely depend on your needs, current situation, and nationality, but what these programs have in common are relatively easy qualification and approval processes, openness to expats and affordable investment requirements.

The only disadvantage – they require a lot of papers and bureaucracy.

1:39 – Mexico
3:02 – Panama
4:24 – Nicaragua
5:55 – Peru
6:46 – Ecuador
8:12 – Colombia

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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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28 COMMENTS

  1. Which one do you prefer?

    Comment below with your suggestions or ideas for new topics you want us to discuss.

    Also, if you enjoyed this video, give it a thumbs up and click on the subscribe button.

  2. Sir, U didnt mention Paraguay. Well i am european, i guess Americans are not Welcome in Paraguay, AS far AS i have heard, right? Is this the reason U didnt mention? Kind Regards Mark

  3. Philly and its suburbs have wonderful places to hang out, and I plan to do that, but a few years ago while I was dining on the famed Rittenhouse Square, a young gentleman was murdered by a biker in cold blood, and the killer got off and bragged about it. The quality of government in the USSA has resembled that of a third-world country for decades. Trump could not have achieved MAGA even if he had trying, which he didn't. Too much damage has been done. I have long since concluded that the regime has lost its legitimacy and that the political and economic systems are broken beyond repair. When I was a child I read a classic called The Battle for Investment Survival, by G. M. Loeb, and he said long ago that every investor should have in mind a country to move in if things got really bad. That time has come.

  4. Peruvians can also go to Russia without visa. And yes bureaucracy is a thing here, get yourself a good lawyer and you are set. They are much cheaper than in the USA and Europe anyway. Also, if you are a citizen of a South American country you can travel, even without a passport, just ID, throughout the region.

  5. Can you please do a video on Mexican residence permits, program details, nice areas to live in Mexico (like what parts of Mexico City are nice, how’s Tulum, where else is nice etc etc) getting Colombian citizenship by descent soon and moving to Texas. Mexico seems like a great place to have as a plan b residence

  6. Mexico has to be the easiest assuming you meet the bank balance requirement. Zero documents need to be authenticated nor translated and no police/FBI report required. I've had residency in both Guatemala and Nicaragua and both required significant authenticated paperwork. Just the FBI record required the FBI document to be authenticated by the Department of State, Guatemalan Embassy in Washington, Ministry of Foreign Affairs in Guatemala and a certified translation. Doable but time consuming.

  7. Great overview of the options in Latin America. We got were travelling through Nicaragua when the pandemic started and decided to stay here until travel went back to normal. At the time we considered applying for residency so that we'd have more security regarding staying. We didn't end up applying for residency, but it's interesting to hear your thoughts on doing that. Definitely a lot of pros and cons. We've really enjoyed living here and after watching your videos on having a Plan B it has opened out eyes to ensuring that we think through what options we want to have available to us going forward. Bureaucracy and changing requirements are definitely things to consider.

  8. Of course, a country with a lot of authoritarian bureaucracy is the US, which is the motivation for leaving. I knew someone who went back to Spain because she couldn't get a visa to stay and work as a nurse, which you would think would be needed.

  9. Residing in Guatemala is great. The emphasis in these videos is all on permanent residency and citizenship. There are always ways to get done what you want done…depends on what you want. Lots of Spanish language schools here. Two major places for expats are the Antigua and the area of Lake Atitlan….both have year round Spring weather because they are at 5,000ft altitude….dry season is December to May, rainy season June to November. Homes have no heat no AC. Antigua is 3 hrs to an international airport, the Lake area is 6 hours away . BOTH areas are safe except for small businesses open to the public. For retirees there are no crime problems as long as you dont flaunt great wealth and act like an arrogant jerk. Most retiree expats live on their Social security or government pensions from the UK, USA, Canada, etc…..$12,500 for an individual $25,000US dollars for a couple buys you a comfortable US, Canadian or European middle class lifestyle, close to double that buys you luxury if you have the funds to buy a home outright beyond your pension….there are no mortgages. People generally do not buy home insurance. Locals often buy small basic homes for cash then expand and upgrade it over the years as funds allow. Foreigners generally do buy car insurance and MOST used cars now are imported directly from the USA from car auctions…there are many late model cars available. New cars are available in the capital.. Until you have a good mechanic you trust, a new car is your best bet.There is no car financing so you pay cash. There is no income tax for foreign income for expats. Property taxes on $300,000 home worth $500,000 in Flordia, a million and up in California is less than $100. US dollars a year. The currency is pegged to the US dollar at the rate of 7 to 8 quetzales to the dollar and has been this exchange rate for more than 20 years. Bank deposits are insured only to $2,000 so best to park your money in the USA if a US citizen for depositors insurance purposes. There are agents in the expat communitites that help you renew your visas etc for a small fee…less than $100. You receive a 90 day visa when entering on a tourist visa and can easily get another 90 day extension without leaving the country. You can do your each 6 month leave outside the country by land to Mexico or Belize or by air further afield. You may then return starting the tourist visa process all over again after 72hours after you leave the country or a visa service agent can provide services for you quite readily. You can qualify for residency over time if you have an average foreign pension income.

    Here is what a $30,000 income buys you for a couple if you own your own home:one to one and half fulltime employees to cook, clean, garden, maintain your home, drive you, pay local bills in person such as electric, computer service, water, etc.. Two to three meals at local upscale restarants on a weekly basis, car fuel and maintenance and insurance, annual vehicle tax, annual property tax, clothing, all general living expenses, two to three annual in country vacation trips of 4 to 7 days, doctor and dentist visits and routine medications with hospitalizations extra. Foreign trips would be extra.

    Then best advantages beyond climate and quality of life considerations are the warm, friendly, people some of whom speak English, ample opportunity to learn Spanish at your own comfortable pace increasing your enjoyment and understanding of local culture, making local friends in additions to expats, easy acceptance into your home social class and above…ie if your were a business owner you will likely drift into,that social class, professional class you will do the same….people enjoy discussing topics in common like work life in other countries, they will,have a natural affinity for,you and be curious about YOUR professional experiences and you theirs. This opens doors in MANY ways to be more and more accepted into local social life where you will feel most natural. SInce the country is about the land size and population of W. Virginia or Arkansas getting to know people of import on a national level,is like getting to know such people in your state or province…not difficult at all, this pays enormous dividends in social acceptance as years go by…it really is a situation where you get to move in several social groups that you may not had access to where you came from. Relating to people in social groups lower than yours also pays dividends in practical ways eg how to find good honest mechanics, service people, eg computer repair and service, home maintenance specialty services, the best drs, dentists. lawyers, accountants including expat ones from your home country, specialty food orders home delivered, etc etc…ie life just gets easier and more pleasant each year you stay and you wonder after ten yrs how and why you ever loved anywhere else…after 20 you feel better adapted to,THIS country than your home country and while you may continue to visit it, most cannot imagine ever resettling in their home country. The advantages here are just TOO many.

  10. Belize has the QRP program. Also, it was a British Colony (British Honduras), with laws and traditions, also English is the official language. 1 USD = 2 BZD, The best part is a very stable government.

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