Good morning, global opportunists! 

Welcome to the 21st 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:

• Portugal’s 5 Year Tax Trap 🇵🇹

• Caution Against Low Cost, Fast-Track Citizenship (AKA…Scams!) 😱

• Biden vs Crypto 🇺🇸

• Long Ways to Go With Dual Citizenship in Indonesia 🇮🇩

Let’s go!

UPDATE

Portugal’s Tax Trap: What You Need to Know

Portugal has a tax policy that could surprise new citizens looking to relocate. If you become a Portuguese citizen and then decide to move to a "tax haven" like Hong Kong, UAE, or Uruguay, you won’t escape the tax man so easily.

Thanks to @BowTiedGlobe & @imidaily for bringing this to the public’s attention! I strongly suggest you read their analysis on the subject and follow them on X/Twitter as they have incredible knowledge on all things investment migration.

UPDATE

Be Cautious of CBI Scams

A pilot's venture into using a dubious "fast-track" Mexican passport to bypass standard immigration processes turned into a legal nightmare, illustrating the dangers of illegal passport schemes.

Harsh Consequences

After being caught with a flagged passport in Romania, the pilot faced intense scrutiny, legal troubles, and was ultimately banned from the EU, severely impacting his aviation career.

Legal Integrity is Key

This story emphasizes the importance of adhering to legal channels when seeking passports or citizenship to avoid severe repercussions.

UPDATE

US Government vs Crypto… Again

Cardano founder Charles Hoskinson claims that President Joe Biden is deliberately trying to undermine the cryptocurrency industry in the U.S. He argues that the Biden administration has restricted the industry’s access to banking and has been aggressive in its regulatory approach, potentially setting back the industry significantly.

Key Points:

• Regulatory Challenges: Hoskinson criticizes the SEC's approach, which he believes uses outdated laws not suitable for modern digital assets.

• International Comparisons: He praises jurisdictions like Switzerland and Singapore for their more favorable crypto policies, suggesting the U.S. could lose out on potential investments.

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UPDATE

Indonesia’s Dual Citizenship Challenge

Indonesia's government is navigating a complex bureaucratic path to potentially allow dual citizenship, particularly targeting the Indonesian diaspora to boost the country's skilled labor force. Current laws only permit dual nationality until age 18 for children from mixed marriages.

Legislative Hurdles

Revising the 2006 Citizenship Law is crucial, necessitating careful deliberations between government and legislature to address potential economic implications.

A Potential Boon for Mixed Families

Advocates for mixed-marriage families see this as a promising change, highlighting challenges faced by children of mixed nationalities in accessing business opportunities in Indonesia.

MARKET REVIEW OF THE WEEK

Triple Net Lease: What It Is & Strong Markets

Triple net leases (NNN) are a staple in commercial real estate, shifting most property expenses to tenants—including building insurance, property taxes, and maintenance costs—beyond just the rent. They're touted as low-risk investments with steady returns due to predictable revenue streams.

Tenant Responsibilities Galore

Under an NNN lease, tenants shoulder not only the rent but also the major operational costs. This setup typically translates to lower rental rates compared to other lease types.

Not a Risk-Free Ride

Despite their attractiveness, NNN leases come with their risks, primarily tied to tenant solvency and property-specific factors like re-leasing challenges.

Strong Markets To Consider:

• USA 🇺🇸

• Mexico 🇲🇽

• Chile 🇨🇱

• Austria 🇦🇹

• Turkey 🇹🇷

• Vietnam 🇻🇳

• Philippines 🇵🇭

• Japan 🇯🇵

• South Korea 🇰🇷

BOOK OF THE WEEK

The Quest for Cosmic Justice

The Quest for Cosmic Justice by Thomas Sowell is a critical examination of the concept of social justice, which he distinguishes from traditional justice. Sowell argues that the pursuit of "cosmic justice," which aims to redress historical or societal imbalances, often leads to unintended consequences that can worsen the very disparities it seeks to eliminate. He emphasizes that attempts to achieve such justice typically require an increase in government power, which can reduce personal freedoms and individual responsibility.

In the book, Sowell analyzes various examples and theoretical frameworks to illustrate the practical shortcomings of implementing cosmic justice. He warns against the allure of utopian visions that promise equality and rectification of all societal wrongs, arguing that such goals are not only unachievable but can also lead to greater inefficiencies and injustices. Sowell advocates for a focus on traditional justice—fair processes and equal treatment under the law—arguing that this approach is more likely to lead to a fair and functioning society.

THAT’S ALL FOR THIS WEEK

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