Good morning, global opportunists! 

Welcome to the 20th article from The Sovereign Atlas! Every Friday we publish quick updates that benefit your global sovereignty lifestyle. 

Here’s what we’ve got this week:

• Indonesian Dual Citizenship 🇮🇩

• Another Potential Option From Cyprus 🇨🇾

• US Government Is After DeFi & Wallets 🇺🇸

• Canadians Leaving For Good 🇨🇦

Let’s go!

UPDATE

Indonesia Considers Dual Citizenship

Indonesia is considering a plan to introduce dual citizenship as a strategic move to attract skilled workers, especially from its diaspora. The initiative targets former Indonesian citizens who have migrated abroad, aiming to reverse the country's brain drain and harness their skills for national development​​.

Bridging the Talent Gap

• Target Demographic: The proposal specifically aims to re-engage Indonesians who have become citizens of other countries, focusing on enticing them back with the offer of dual nationality.

• Skill Development: The move is part of broader efforts to build a more skilled workforce within the country, crucial for Indonesia's economic and technological growth.

Past Challenges

The notion of dual citizenship has been controversial in Indonesia, highlighted by past political issues regarding citizenship status of government officials.

This shift towards accommodating dual citizenship could significantly influence Indonesia's socio-economic landscape, redefining its workforce capabilities and international collaborations.

UPDATE

Cyprus: Citizenship in 3.5 Years?

Cyprus is setting the stage for a new residency program designed specifically for financially independent individuals from non-EU countries. This proposal, currently under parliamentary review, could redefine the landscape for foreign nationals looking to enjoy the perks of living on the picturesque Mediterranean island​.

Attractive Investment Opportunity

• Investment Requirement: Applicants need to invest a minimum of €250,000 in residential property in Cyprus.

• Income Threshold: An annual income of at least €40,000 is required, with an additional €10,000 for each family member included in the application.

Pathway to Citizenship

• Residency to Citizenship: This program not only grants a permanent residency permit but also lays down a pathway for naturalization, potentially leading to citizenship in just 3.5 years provided certain conditions are met​​. This would make Cyprus the fastest citizenship option in Europe.

UPDATE

US Government Targets DeFi & Wallets

In a move aimed at safeguarding the burgeoning DeFi sector, U.S. Senators Cynthia Lummis and Ron Wyden have voiced strong concerns against regulatory measures proposed by the Biden administration, specifically targeting decentralized finance (DeFi) and non-custodial wallets.

Legislative Pushback

• Protective Measures: Senators Lummis and Wyden introduced a bill intending to refine the definition of "broker" in cryptocurrency regulations. This is pivotal in ensuring that miners, stakers, and other non-custodial actors in the crypto space are not unduly burdened with regulatory obligations that could hinder their operations​​.

• Bipartisan Concerns: The bill reflects a bipartisan initiative to provide clarity and protection for the digital asset industry, reinforcing its growth while balancing the need for regulatory oversight​​.

Broader Implications

• Impact on Innovation: The proposed regulations by the Biden administration could have far-reaching implications, potentially impacting the autonomy of DeFi platforms and the privacy of digital wallet users​​.

• Potential for Overreach: There is a significant concern that overreaching regulations could not only disrupt the U.S. position in the global financial technology landscape but also infringe on individual privacy and innovation in financial services.

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UPDATE

Canadians Seek Greener Pastures

A growing number of Canadians (11%) are relocating internationally, spurred by domestic challenges such as high living expenses & a tyrannical government.

Economic Pressure Points

• Housing Market Strain: Persistent increases in home prices, coupled with high interest rates, have significantly eroded housing affordability in Canada. This trend is particularly pronounced in major cities, pushing both homeowners and renters to consider cheaper locales​​.

• Economic Forecast: Financial pressures aren't limited to the housing market. High costs of living, including food and rental prices, have further strained budgets, prompting many, especially younger generations, to rethink their financial strategies and living situations​​.

Broader Implications

• Socio-Economic Mobility: The affordability crisis threatens to limit socio-economic mobility, with younger Canadians finding it increasingly difficult to replicate the homeownership rates of previous generations. This gap is contributing to broader societal shifts, including delayed family planning and migration to more affordable regions or even abroad​​.

MARKET REVIEW OF THE WEEK

Akiya Investing in Japan

This week, I just want to bring the potential of akiya (アキヤ) investing, or “Abandoned house” investing.

Japan has nearly 9 million empty and abandoned homes for sale across the entire country, with about 40% being in Tokyo. These homes typically end up empty and forgotten do to Japan’s high tax inheritance laws (55%).

While Japanese citizens prefer new build homes, foreigners have been renovating akiya that are worth saving and turning them into long term rentals and AirBnB investments. Keep in mind not all 9 million homes are worth saving, but the ones that are can be real money makers as you can get them dirt cheap. It’s not uncommon for savvy akiya investors to have 15%+ yields on these properties.

You will not find these properties on real estate sites or places like Facebook Marketplace, you will have to be boots on the ground to find these gems.

BOOK OF THE WEEK

The Code of The Extraordinary Mind

The Code of The Extraordinary Mind by Vishen Lakhiani explores unconventional ideas and challenges societal norms to redefine success and happiness. Lakhiani introduces the concept of "Brules" (bullshit rules) which are cultural norms that we accept without questioning their relevance or effectiveness in our lives. Through personal anecdotes and insights, he encourages readers to break free from these limiting beliefs to create their own path in life.

The book is structured around ten laws that aim to help individuals elevate their consciousness, redefine success, and improve their overall quality of life. These laws guide readers through a process of personal transformation that involves questioning existing beliefs, cultivating a vision for their life, and implementing practical strategies for achieving their goals. Lakhiani combines elements of mindfulness, personal growth, and practical business advice to provide a comprehensive guide for living a fulfilling life.

THAT’S ALL FOR THIS WEEK

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