Katie Ananina, a Russian ex-pat, and former professional sailor is the founder of Plan B Passport. The company that brokers citizenship through investment schemes for tax-haven countries that do not tax capital gains on crypto holdings for wealthy crypto clients.

The Safe-Haven States Provide Citizenship To Wealthy Crypto Clients

According to a CNBC report from July 11, Plan B brokers hundreds of passports for mostly Western, wealthy cryptocurrency clients each year. Customers can choose between the following jurisdictions: Saint Kitts and Nevis, Antigua and Barbuda, Dominica, Vanuatu, Grenada, Saint Lucia, and Portugal.

 “If the government affects me, I will seize all [my assets] and flee,” Ananina said, adding: “I was foresighted enough to predict that $200 in bitcoin will be worth $100,000 in the future. I don’t believe the government should receive 40% of that.”

Citizenship In The Safe-Haven States Is Get Through Investment Schemes

Citizenship in safe-haven states accesses to investment schemes that require six-figure investments in local businesses, real estate, or government bonds. Some jurisdictions accept payment as a donation, and Ananina estimates that most passports cost between $100,000 and $150,000.

“It is essentially a donation to the country’s sustainable growth fund. So, clients donate $100,000 or $150,000, plus some due diligence fees, government fees, and $20,000 for my legal fees,” she explained. Clients of Plan B will also be subject to exit taxes if they renounce their current citizenship.

About Katie Ananina

Ananina became a Bitcoin maximalist after witnessing a 50% drop in the price of Russian rubles in 2015 while living in Spain and competing for Russia’s national sailing team.

“My macroeconomics professor couldn’t explain it to me. There was no way I was going to run my equations and figure out what happened there. I realized it did not satisfy me it did not satisfy me with the way money works.”

Citizenship through investment schemes has recently come under increased scrutiny, following a series of Al Jazeera investigations that revealed widespread corruption among officials overseeing the programs in Cyprus and the Caribbean, with some Caribbean states offering diplomatic passports for a fee.

In October 2020, Cyprus will abolish its citizenship by investment scheme.