Good morning, global opportunists! 

Welcome to the 19th 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:

• Americans Are Securing Their Plan Bs 🇺🇸

• Find Your Quick Path to Citizenship in Latin America 🌎

• Avoid Double Taxation 🇺🇸

• US Gov Wants to Steal More From You 🇺🇸

Let’s go!

UPDATE

Americans Are Securing A Plan B

The quest for second passports and residency permits is gaining momentum among Americans, driven by concerns over politics, safety, and living costs.

Growing Interest in Global Residency

Jennifer Stevens from International Living highlights a spike in inquiries about living abroad, particularly in election years. Many Americans are considering locations with a lower cost of living, better weather, and a more relaxed lifestyle as viable alternatives to their current situations.

Pathways to Citizenship

Options like citizenship through descent, such as Italy's Jure Sanguinis, are popular. These processes involve collecting extensive documentation and, for some, achieving language fluency.

Investment for Residency & Citizenship

For those without descent options, investment programs offer an alternative route to residency or citizenship. Programs in countries like Portugal and Turkey require substantial investments but provide a safety net and additional global mobility.

UPDATE

Routes to Latin American Citizenship

Latin America stands out for its straightforward and relatively swift pathways to citizenship. Here's a glance at the varying time frames depending on your situation:

Standard Naturalization Times

Typically, the naturalization process spans from two to ten years across different countries, with Argentina, the Dominican Republic, and Peru at the lower end requiring just two years under ordinary circumstances.

Faster Tracks for Family Connections

Marriage can dramatically shorten these timelines, with countries like Argentina and the Dominican Republic allowing immediate citizenship in some cases.

UPDATE

US Expat Foreign Tax Credit Guide

Navigating taxes abroad? The Foreign Tax Credit is your financial friend. Since 1918, this handy tool has helped US expatriates avoid the double-taxation blues. It's pretty straightforward: get credit for taxes paid to foreign governments, and even carry forward unused credits for up to a decade. Ideal for those facing steeper taxes overseas, this credit ensures Uncle Sam plays nice with your global income.

Pro-tip: Always double-check the specific filing requirements to keep your tax game updated.

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UPDATE

US Gov Looks to Steal More From It’s Own Citizens

Act 60's generous tax breaks have made Puerto Rico a magnet for U.S. expats looking to slash their tax bills. However, the IRS is stepping up audits, particularly for those claiming Act 60 benefits without meeting strict residency and source income requirements. These efforts aim to address concerns about the exploitation of Puerto Rican tax advantages.

Act 60's Draw: The law offers significant tax reductions for new residents on local income and capital gains.

Increased Scrutiny: With a rise in misuse, the IRS is intensifying investigations to ensure compliance with the residence rules.

MARKET REVIEW OF THE WEEK

Mexico City, Mexico

Mexico's industrial real estate sector has seen a robust start in 2024, with significant leasing and construction activity across several regions. Here's a snapshot of the early-year dynamics:

Leasing Leads the Charge

The first two months alone recorded an impressive 883,000 square meters in national leasing activity. Mexico City topped the charts with 292,000 square meters, followed by Monterrey with 241,000 square meters. The northern regions, including Saltillo, Tijuana, and Ciudad Juárez, collectively added 398,000 square meters, showing a strong industrial pull.

Construction Booms

Construction wasn't far behind, with a nationwide total reaching 5.7 million square meters by the end of February. Monterrey spearheaded this with 32% of the new projects. Noteworthy increases in construction starts were also seen in Mexico City and Querétaro, indicating ongoing growth and an expanding industrial landscape.

BOOK OF THE WEEK

Animal Farm

Animal Farm by George Orwell is an allegorical novella that satirizes the corruption of revolutionary ideals and the abuse of power. It tells the story of a group of farm animals who rebel against their human farmer, hoping to create a society where animals can be free, equal, and happy. However, the pigs, led by Napoleon and Snowball, gradually take control, becoming indistinguishable from the tyrannical humans they initially overthrew. The narrative delves into themes of power, betrayal, and the perils of authoritarian rule.

As the pigs consolidate power, they manipulate and rewrite history to maintain control over the other animals. The commandments of Animalism, the ideology established after the revolution, are progressively altered to justify the pigs’ selfish whims. The famous maxim "All animals are equal, but some animals are more equal than others" epitomizes the hypocrisy at the heart of their governance. Orwell's work is a powerful critique of totalitarianism, illustrating how ideals can be perverted by those in power, leading to oppression and inequality.

THAT’S ALL FOR THIS WEEK

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