Benefits of Second Citizenship

Learn about the benefits of second citizenship

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Which second citizenship should I choose?

Which second citizenship is right for you depends on your particular circumstances and preferences. Some want freedom to travel unencumbered by visa requirements, others wish to settle permanently abroad and still others see a second citizenship as an insurance policy they hope to never need. People obtain second passports for a variety of reasons, and today there is a citizenship to suit every circumstance.

The principal benefits of second (or multiple) citizenships generally fall into one of three major categories

Travel and Settlement Freedom

While some highly desirable passports allow its holders to travel without a visa to nine out of ten countries, other passports make international travel virtually impossible. To those who frequently fly internationally, whether for business or personal reasons, being able to travel on short notice and without the need to spend time, energy and money on the bureaucratic process of obtaining visas, a passport free of significant travel restrictions are an ideal solution.

 

Individuals who wish to study, work or retire abroad may find that their nationality is an insurmountable obstacle to the realization of such plans. The best solution, in many cases, is to invest in an alternative citizenship that allows for settlement in a multitude of countries, such as an EU citizenship.

Personal Safety

A second passport provides its holders with the opportunity to permanently settle abroad should the level of security in their country of origin deteriorate significantly due to, for example, armed conflict, natural disasters, environmental degradation, terrorism, political upheaval or state repression.

 

A citizenship in a jurisdiction with more extensive political liberties and individual rights can protect the person from political persecution on the basis of, among other things, race, religion and political affiliation.

Economic Freedom

The divergence between the economic freedoms pertaining to different passports is significant. Certain passports can prevent its holders from partaking in international transactions, for example if economic sanctions or embargos have been imposed. Some countries place severe limitations on the flow of capital both in and out of its borders, while others impose punitive levels of taxation. In extreme cases, privately owned assets may be subject to arbitrary or politically motivated expropriation by state actors. Alternative citizenships allow for better tax and estate planning, greater access to world markets and the assurance that your property rights will be respected.

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