PlanB Passport company founded by Katie Ananina offers Rich crypto investors the ability to purchase passports in tax havens for less than $200,000.
Katie Ananina, a Russian ex-pat and former professional sailboat racer founded Plan B Passport, a company that helps affluent investors obtain citizenship through investment plans in tax-haven countries that don’t tax capital gains on crypto holdings.
According to a CNBC article from July 11, Plan B brokers hundreds of passports each year for mostly western clientele. Saint Kitts and Nevis, Antigua and Barbuda, Dominica, Vanuatu, Grenada, Saint Lucia, and Portugal are among the seven jurisdictions available to customers.
“If the government begins to impact me, I will seize everything [of my possessions] and flee,” Ananina declared, adding:
“I was smart enough to figure out that $200 in bitcoin will be worth $100,000 at some point. I don’t think the government should have 40% of that.”
Citizenship in the safe-haven states is obtained through six-figure investments in local enterprises, real estate, or government bonds. Some governments accept donations, with most passports costing between $100,000 and $150,000, according to Ananina.
“It’s essentially a donation to the country’s sustainable growth fund. Clients donate $100,000 to $150,000, plus due diligence fees, government fees, and $20,000 for my legal fees,” she explained.
Exit taxes will be imposed on Plan B’s clients if they revoke their current citizenship.
In 2015, while residing in Spain and competing for Russia’s national sailing team, Ananina became a Bitcoin maximalist after witnessing a 50% drop in the price of Russian rubles.
“My macroeconomics professor wasn’t able to explain that to me. There was no chance I could run my equations and figure out what happened there. I realized I wasn’t happy with how money works.”
In October 2020, Cyprus’ citizenship-by-investment policy was phased out. Following a series of investigations by Al Jazeera that revealed widespread corruption among the officials overseeing the programs in Cyprus and the Caribbean — with some Caribbean states found to offer diplomatic passports for the right price — citizenship through investment schemes have come under increased scrutiny recently.