Why You Should Invest in Second Citizenship?
If the beginning of this year hasn't made you rethink your life choices, then it's time you think with your head and start investing in a second passport. If in the past, the main countermeasure of political and economic instability was immigration, today, people can invest in dual citizenship without relocating completely.
Whether you are a business person, a traveler, or a family guy, you must obtain a second passport. You can achieve it via a one-time donation in National Funds, investment in real property in a foreign country, or via alternative funding in resorts, research projects, opening your own business, or another branch of your company, etc.
Business owners and entrepreneurs often need cross-border traveling. And a second passport can help in overcoming the obstacle. Many governments encourage people to invest in their countries and obtain dual citizenship, mainly to help their economies. Here, we'll discuss the major points and top reasons why you should invest in dual citizenship. Let's check them out!
It Grants You Stability
A second passport grants you stability whenever you go. When it comes to wars, in the worst-case scenario, political unrest or civil turbulence, you can travel to another country without worrying about the paperwork or visa. One of the major benefits when owning a passport is you can easily move to another country if your native one becomes unstable.
The citizenship cost can differ between countries. For example, the Caribbean countries have the lowest costs, and the St Kitts citizenship cost starts from $150,000 for a single applicant or $195,000 for a family of four. However, there are due diligence, lawyer, and passport fees that might apply.
Depending on which country you apply for a passport, the investment option can provide significant returns. For example, the Portuguese real estate market is pretty popular worldwide because the value of the properties rises each year proportionally. Portugal is a country thriving in tourism, and if you purchase a property there, you can have lucrative returns.
Better Healthcare and Education
One of the major reasons investors choose these programs is for the numerous benefits they provide. Most of these programs allow family members to be included in the application, so you can provide better education and healthcare to your family.
Multiple passports mean more open borders. And if you've been browsing the Internet regarding the Citizenship by Investment program (CBI), you've probably come across the term "visa-free traveling." And when you own a second passport, the door to many countries can become open for you.
The most powerful CBI passports are St. Kitts and Nevis - you can travel to 163 countries without a visa, St. Lucia passport - travel to 143 countries visa-free, Grenadian passport - travel to 140 countries visa-free, Maltese - an incredible number of 181 countries available without a visa, and Cypress passports - 173 countries traveled visa-free.
The benefits of traveling visa-free include:
- No visa application fees;
- Convenient for business owners and entrepreneurs who travel frequently;
- Less time-consuming processes;
- Stability and freedom of movement; and
- Access to global markets and business opportunities;
Having a second passport gives you protection and financial stability in your life. Many business people have dual citizenship as additional life insurance and a protective measure for their family.
If you are facing hardships in landing a job in your native country, it can be pretty reassuring to get a second passport and have the right to live and work in another country. For example, the European passport opens the borders and work opportunities for any country in the European Union.
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