Passports are Global Currency
Time to let the world be your oyster!
I was born with two passports and always felt I was enormously lucky to have access to two main continents as a result. It gave me choices that my classmates didn’t have and a flexibility later in life that I knew I was privileged to enjoy.
I was always shocked when people told me they had no interest in getting another passport even when they were eligible to apply for one.
Yet when I had a chance to apply for a third passport due to living in the country for so long, I originally balked at the idea. The paperwork and fees for what seemed like only more of the same access I currently had, hadn’t seemed worth the admin.
But the world changes, and I the reality is agreements that were previously in place allowing for movement or access don’t stay that way forever. I should make an effort to gain the citizenship so I can live there in the future, even if moves abroad happen in the middle.
I took a more critical look at my situation. Yes I enjoyed living in this place and wanted to retain access to it long term, but it also has a robust health care system and more encouraging tax laws than some its neighbours. Add in some smaller components like public transportation or climate to round it out and then I start to wonder why I was put off at the idea.
Life is long, I won’t always know what future me wants, but if I have the chance, I should secure the passport along the way. It might not always be a possibility to move around as easily as I do now. It is worth me doing the work now to enjoy the flexibility going forward.
Living abroad for as long as I had also introduced me to many friends and acquaintances who also subscribed to procuring additional passports. And these often happened to be the same people who weren’t trapped in unideal circumstances whether from regulations, taxes, or government policies.
Many of us are beholden to the governing body where we live, and if we don’t agree with it, besides a petition or a protest, there is little to be done if you don’t like what is happening.
Ironically, the first retort many levy if you disagree is ‘why don’t you just leave’ - well if you have multiple passports, you may be able to if you choose. And that is what really opened up my world: choice.
Having access to several governments opens up a lot of choice, and part of financial independence requires freedom of all kinds - including movement.
Internationally there are passports that are considered strong or weak. Its an ever changing ranking and a country that once started out as on top, can fall to be undesirable in our lifetimes. But whether something is considered weak or not, they can host a range of benefits and detractors.
Keep reading with a 7-day free trial
Subscribe to The International Wealth Project to keep reading this post and get 7 days of free access to the full post archives.