Crypto's growing role in international immigration and citizenship
07/31/2024 23:27Nuri Katz of Apex Capital explains how crypto is playing a growing role is securing citizenship and international freedom.
In a world where financial flexibility and international mobility are increasingly coveted, Apex Capital founder Nuri Katz says crypto is playing a growing role in helping people buy freedom.
Roundtable anchor Rob Nelson recently sat down with Katz at the Bitcoin Conference to dig into the intricacies of acquiring citizenship through investment, leveraging digital assets like bitcoin.
"We help people get citizenship through different investment products and represent them in the quasi-judicial procedures required by governments," Katz explained. This process involves thorough due diligence and KYC (Know Your Customer) to ensure applicants meet stringent international security standards.
For those wondering about the specifics, Katz clarified that the investment process can involve real estate, government bonds, or even donations to smaller countries. These countries, like Malta, Montenegro, and several Caribbean nations, welcome investment as a way to boost their economies. "You can't do this in France," Katz noted, emphasizing the unique opportunities in smaller nations.
The conversation then turned to the motivations behind seeking citizenship through investment. Katz explained that this approach provides jurisdictional arbitrage, offering greater freedom of movement for individuals from countries with more restrictive travel policies. He pointed out that even Americans in the crypto space are now showing interest in these products as a form of diversification and risk management. "Keeping all your assets in one asset class is very risky," Katz stressed.
This diversification extends beyond just financial assets. Acquiring a second citizenship offers a hedge against potential future uncertainties in one's home country. "You're hedging your bitcoin and your life," Katz said, highlighting the strategic advantage of having multiple citizenships.
Nelson wrapped up the discussion by underscoring the appeal of this strategy. With a second citizenship, individuals are not restricted to one government's regulations, providing the flexibility to relocate and live in different parts of the world. Katz summed it up succinctly, "If you're only an American citizen, you're restricted by one government. Today, you're restricted by one government."
Countries are continuing to experiment with identity and citizenship on the blockchain. The island country of Palau recently put its digital ID card program on Solana.