Do you want to get citizenship in two (or even more) countries? The market offers numerous opportunities, but there are several factors to ponder before reaching a conclusion. Primarily, the objective behind obtaining a second passport is crucial: whether you seek visa-free travel to multiple countries, access to a specific country without a visa, or a streamlined and hassle-free application process. The second important criterion is your financial opportunities: how much are you prepared to pay for economic citizenship? And if you have no savings, there is still a citizenship by naturalization path. If you are looking to get a foreign citizenship and need more information, please follow the link to read a detailed guide or talk to an immigration expert free of charge.
Administrative Matters
The administrative component is very important as it should be first of all technically possible to become a citizen of a particular country if you want to include it in the list of options.
Affordability, Speed, and Simplicity
If you want to find a citizenship program that matches all three criteria, you may be disappointed to find out that it simply does not exist: you can choose two of these at a time.
Let’s consider the disadvantages of different citizenship acquisition methods:
By investment
- It is fast (there is a passport you can acquire in 45 days, but the procedure usually takes several months).
- It is simple as you can obtain your passport remotely.
- However, it may be expensive (the cheapest option will require at least 100,000 US dollars).
- If your citizenship-by-investment application has been rejected once, it will also be turned down in all the countries that exchange information. If this is your case, you can follow the link above and discuss a customized way out.
By naturalization
- It is quite a lengthy procedure that may last for decades.
- You often need to study the culture, history, and language of the country well enough to pass an exam.
- You will have to be physically present in the country practically all the time and become its fiscal resident.
Dual Citizenship: Anonymity and Restrictions
There are countries where dual citizenship is prohibited by law – for instance, China. However, there are a lot of Chinese with second passports! How do they do that? Well, first of all, there are countries that keep the information about their new economic citizenship private (and some countries even offer a separate program for the Chinese!). Secondly, China faces issues of overpopulation, and local authorities are generally accepting of some citizens relocating elsewhere.
Integration
When considering relocation to a country through economic citizenship, it’s crucial to determine if you can effectively integrate into the local population. In certain countries, your nationality may not be embraced, so it’s wise to be informed beforehand. For example, if you hold Israeli citizenship, you may encounter unwelcome reception in many Middle Eastern countries.
Keeping your Second Passport
When you become an economic citizen, you should be well aware of the conditions that allow you to retain your passport at all times. For instance, it is mandatory to stay in Antigua and Barbuda for 5 days in the first five years of acquiring citizenship. If you make returnable investments, you should not claim them before a certain term expires (for instance, you are usually allowed to resell the property you invested in to obtain citizenship in five years).
Rights and Opportunities
Each country has its takeaways, which is the reason why we choose this or that option.
Visa-Free Travel
People don’t want to waste their time obtaining visas, which is one of the main reasons why they get collections of passports sometimes. And though lists of visa-free countries change with time, an owner of two passports usually has fewer problems going abroad for business or personal purposes. What is more, if you go abroad, there are now two consulates that can help you!
New Immigration Paths
For some individuals, obtaining a second passport serves as a pathway to achieving other objectives. For instance, acquiring a Turkish passport can facilitate obtaining an E2 (investor’s) visa for the USA.
The most robust passport available through investment is the Maltese passport, given Malta’s membership in the EU.
Security
How much do you value your safety and security? How much are you willing to pay for them? Eventually, we all realize that certain things are truly invaluable. If conditions in your home country worsen socially, politically, or economically, the chance to swiftly relocate with your family and business becomes incredibly precious.
Education and Medicine
If you have children, you may want them to have better educational opportunities, and it may be the primary reason to obtain citizenship in another country that matches this criterion. And as you are advancing in years, you may need to use the services of an excellent healthcare system, being another important reason to acquire a second passport.
Banks and Business
If you are going to expand your business, having a passport that allows entering many countries without a visa is sometimes a must. What is more, if you get a passport from a country that belongs to some block (MERCOSUR or EU, for instance), you will be able to use the common market of this area without any restrictions. And this may be great news for your business!
A second passport may also be of use if you want to open an account in an overseas country, especially if this is a document issued by a reputable jurisdiction. This is a priceless benefit if the passport of your home country restricts your banking opportunities.
There are many more aspects of foreign citizenship you can discover by following the above link. Do not hesitate to book a free session with an immigration specialist (you can use the live chat during office hours to ask your questions).
