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Special EU & EURO Warning – December 14, 2011Offshore Jurisdiction Comparison 
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Introduction – We get a lot of inquiries from people seeking a second passport and citizenship. The advantages are many. One of the biggest advantages is that the second passport lets you open up bank accounts and stock brokerage accounts around the world as a citizen of the country that gave you the second passport. This can be a great advantage for some of you. Another big advantage is being able to travel under another nationality especially if you are a American. A third advantage is for people who have a passport now that does not allow for much visa free travel. This means that they frequently have to get a visa from different embassies to travel into other countries. This is burdensome and in general a pain in the neck. We are able to provide perfectly lawful second citizenships/passports in about 2 months but the problem is they are costly. It runs $50,000 for one person and $75,000 for a married couple. You can tell anyone exactly how you came about this citizenship. It is a statutory program. It is not St. Kitts, Dominica or Guatemala. These passports allows for visa free travel to all of Central and South America and the Entire European Union in addition to the Caribbean Islands and parts of Asia like Singapore. The downside is the cost. So we have found a way to get you there slower but for much less money.
The Guatemala Pensionado Program – This is a slower way to get a second citizenship/passport. The pensionado is a lifetime residency. After you hold this residency for two years you are able to apply for citizenship. The normal time to apply for citizenship is five years. You can bring a legally married spouse in under the program as well as children under eighteen. The government may ask for more income if there is more than one person. The rule of thumb would be an extra $100 a month per person.
What is a Pensionado – It is a retirement visa good for life. This would enable you to live the rest of your life in Guatemala. To get this visa one must show a monthly income of $1000 a month. This can be dividends, bond income, interest income, rental property income, disability, social security and of course retirement income. Combinations are allowed. There are no age restrictions. Disabled persons can be young for instance, consider military disability.
Pensionado Facts – You are not eligible to go out and take a job working for others as a pensionado but you can work for yourself. You can start and own Corporations. You can buy and even finance real estate.
Pensionado Bank Account – Once you get your pensionado ID card you can use it without a passport from your home country to open a bank account in any of the banks in Guatemala. Some of the banks are billion dollar banks. You can bank in dollars, and the local currency which is not bad at all. They have high yield Cd's. They have online banking, Visa cards and debit cards.
Guatemala Taxes – Guatemala does not tax offshore derived income.
Pensionado Driving Privileges – You can get a drivers license in Guatemala as a pensionado.
Pensionado Gun Licenses – As a pensionado you can legally buy firearms and even get a license to carry them concealed.
Pensionado Travel Facts – As a Pensionado you are issued a digital plastic photo ID card. With this card and no passport you can travel by land cross border to Nicaragua, Costa Rica, El Salvador and Honduras. This is referred to as “off the grid” travel by many since passports are not involved. Airlines generally want a passport.
Pensionado Time in the Country – It is a good idea to travel into the country for some time each year.
Importing Personal Goods – You are able to import two cars with a nice reduction in importation duty. Please don't ask us to calculate the reduction. It is a complicated formula based on sale price of the car with normal taxes in the country combined with price reductions based on age. It is car specific. It is a complicated procedure that only the government black box can calculate accurately but suffice it to say that it is a nice discount. There are no other importation discounts on other personal property.
Documents Required – We need a current passport for you and all family members. All family members must come physically to the country. You also have to present paperwork showing proof of the monthly income of at least $1000 a month. This can be say three monthly bank statements, stock broker statements, social security statements, retirement fund statements, etc. We also need a police records check. You can generally get this easily enough by going to your local sheriff and asking them to supply you with this. Most of the time they do this while you wait. If you are married bring marriage license.
Pensionado Costs – The fee is $7500 for one person, $9500 for a couple. This is for expedited service which is usually one week. You do have to come to Guatemala to apply. You stay a few days, leave as a permanent resident. Opening bank accounts, obtaining driver licenses, will take extra time and there are some nominal extra costs involved.
A Word on Guatemala – Guatemala has bad press regarding crime. Yes there is crime. There are places to avoid just like in any other country. There are also many places to live where it is very safe. Suggest you study Antigua, Guatemala. It is a popular tourist attraction that offer lovely affordable housing. A nice condo could be rented for $800 to $1000. Houses can be had for a few hundred dollars more. Antigua is full of clubs, restaurants, street musicians and artists, shops, etc. It is an alive city surrounded by volanoes making for a beautiful picture. There are loads of tourists there everyday. A five star full steak dinner runs about $20.The city has temperatures of 55 to 75 degrees Fahrenheit year round. Once again you do not need to reside here all the time to participate in the program.
To Learn More About Us and Why You Should Use us click here:
Summary – Do feel free to call us with questions on the pensionado program or the second passport/citizenship program. We will be glad to chat about it with you.
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*Offshore Legal Associates Law Firm.We have no legal ties or associations with any other law firm or corporation with similar or like sounding names anywhere and should not be so confused with any other entity having a similar or like sounding name.
