2020 scared the sh*t out of me, I’ll be honest.
I realized one authority – the United States government – had complete control over every aspect of my life. And with that control, they could take it all away.
That’s not a position I wanted to be in. So I took several steps to minimize that risk.
Becoming ungovernable doesn’t mean breaking the law. It means legally reducing your exposure to just one government’s laws, so you have more options and more freedom.
Below are 5 ways to do so in 2024. Which are you prioritizing?
This is not financial or legal advice. Frankly, nothing on this website is. Do your own research and consult the experts before taking any action.
Multiple citizenships
Living, banking, and earning all in only one country is self-sabotage. Don’t put all your eggs in one basket.
With a second citizenship in an EU country (check out “supranational settlement blocs,” as IMI Daily calls them), you get access to live and do business in several jurisdictions.
In a MERCOSUR-member country in South America, you get faster access to residence in other countries.
Check this out:
Whether it’s for business, lifestyle or just a safety net, more passports mean …
- more options during political instability or economic downturn
- more visa-free access to countries around the world
- more legal tax reduction strategies
- more investment and banking access
- more residency rights in allied countries
This is why I first invested here in Colombia but also why I’m aiming for EU citizenship.
Don’t get stuck flat-footed.
Multiple residency permits
More accessible than citizenships are residency permits.
In some countries it’s extremely difficult to become a citizen (looking at you, UAE 🇦🇪). But they may have programs to help foreign investors or entrepreneurs – even nomads – become a legal resident and access more rights in their country, including banking, real estate investing, business creation, tax residency, etc.
A couple programs I’m considering:
- Latin America
- Mexico
- Nicaragua
- Panamá
- Paraguay
- Europe
- Spain
- Portugal
Check out IMI Daily’s programs page for a full list of options.
Multiple income streams
The internet is the single greatest wealth lever ever created:
- You don’t have to risk your life or suffer physically to make money anymore.
- You don’t have to be physically present to make money anymore.
That’s earth-shattering. It’s easier than ever to earn a living with just your thoughts, expertise and brain power.
Now, diversifying that income is important.
Run multiple businesses. Build passive income sources. Invest in various assets.
I launched my second business (the Freedom Files) in 2023, and it’s already yielded a nice cushion to my growing primary income source – my content marketing firm. Plus, I may start renting out the apartment I bought last year if I move from Colombia.
Multiple assets
Don’t just diversify your income. Diversify your assets too – like Bitcoin (😏), real estate, and startups. And better yet, do so in multiple countries around the world.
By spreading your assets across classes and the map, you reduce the risk of a single event or wiping out your wealth. Smart!
Multiple international bank accounts
I used to think international banking was just for the elite Davos types. I was mistaken.
It’s actually easy to set up an offshore bank account (I would recommend banking in a country where you don’t live) in any of the following countries:
- Belize
- Cayman Islands
- Estonia
- Georgia
- Germany
- Hong Kong
- Panamá
- Singapore
- Switzerland
How does this help?
Well, a few years ago, we saw several governments freeze assets and close bank accounts of those who disagreed with them. That’s nuts.
Multiple international bank accounts solve this problem. Minimize your exposure to one authority and diversify your banking.
In 2024, there are 5 ways you can become more ungovernable than you are today:
- Multiple citizenships
- Multiple residency permits
- Multiple income streams
- Multiple assets
- Multiple international bank accounts
Which are you prioritizing?
