Time to consider a second passport
With rapid uncertainty facing all corners of the world today, residency and citizenship-by-investment have become suitable and popular options for individuals seeking out new horizons for them and their families. The benefits of investing in a second passport extend beyond obtaining the physical passport itself.
As the world becomes a more global entity, travelling on short notice, whether for business or personal reasons, can become a tedious and long process if a visa is required. One of the benefits of having a second passport is the ease of being able to travel to a variety of countries without the complications and costs of having to obtain a visa.
A second passport through a Caribbean citizenship by investment program or a European residency by investment program allows you to travel visa-free or obtain a visa-on-arrival to more than 135+ countries. In order to be able to do business with other countries with ease, having a second passport from Turkey or Grenada will entitle you to enter 150+ countries without a visa or obtain a visa on arrival. Getting a second passport from either of these countries further enables you to get an E2 investor visa from the USA.
Whether citizenship-by-investment or citizenship-by-donation, having a second passport will allow you as well as your dependent and children to access education in that country long-term. Gaining a second passport from Portugal, Malta or Greece, you and your immediate family members will be entitled to study, live and work anywhere in the European Union. Your children will be provided the opportunity to study at some of the most prestigious universities in the world.
Having a backup plan is important. Countries that offer citizenship by investment allow you to hold dual citizenship and a second passport from Antigua and Barbuda allows the applicant to apply for their family members as dependents and children under 30 years of age as well as parents above 55 years of age.
A second passport from such a country provides safety and security for all members of the family to migrate to another country and still have your citizenship from your home country. The pandemic is an apt example of how citizenship-by-investment increased the demand and need for a second passport.
Investing in a second passport can mean that future generations of your family get the opportunity to automatically have that passport as well. Your investment can grant future generations abundant benefits as they will be able to study, work and live, for example, at reputable universities throughout the European Union. Travel will become trouble free, and they will have no need to acquire a visa to travel to a minimum of 110 countries.
A large benefit of having a second passport is also paying minimal taxes on capital gains and wealth. Acknowledging that you would have to pay taxes in your country of residence, having a second passport from St Kitts & Nevis exempts you from paying capital gains, inheritance, and foreigner income tax.
Furthermore, it is positioned as an investment for a second passport allowing you to sponsor children under the age of 30 and parents over the age of 55.
Overall, there are multiple benefits of having a second passport that enable easy travel for work or leisure and can provide assured benefits for future generations of your family in more ways than one.
Key Takeaways
- The pandemic is an apt example of how citizenship-by-investment increased the demand and need for a second passport.
- One of the benefits of having a second passport is the ease of being able to travel to a variety of countries.
- Having a backup plan is important.
- Countries that offer citizenship by investment allow you to hold dual citizenship and a second passport.
- A second passport from such a country provides safety and security for all members of the family to migrate to another country.
Residency and citizenship-by-investment have become suitable and popular options for individuals seeking out new horizons for them and their families.
