A second passport is an excellent form of insurance for your family and you. It allows you to travel or live abroad in many countries, which usually have more options to study and do business. As they say, two is always better than one.
Second passports help you plan and have something to fall back on if your country is in turmoil. It gives you a Plan B and allows you to have better opportunities and healthcare choices. They allow its holders to travel more accessible with visa-free access to many destinations.
Some people pursue second citizenship and passport to help them access international opportunities better, as they simplify international business by breaking down barriers. In contrast, some people enjoy the benefits of living in a nation with favorable tax laws to find tax relief.
Investing in a second passport can provide many opportunities for future generations to have better options when it comes to education and employment. It also gives them a chance to achieve their full potential as they grow.
However, many assume that obtaining a new passport is the same as the time-consuming process of renewing a passport. Therefore, people might not know that it is simpler to go through the steps to obtain a new visa than to renew your passport.
The Routes to Gaining a Second Passport
There are many ways to get a second passport that different people can take depending on where they come from. The most common way is through naturalization. The most common of these routes are:
Citizens by Descent: You can get citizenship by ancestry in some countries, like Ireland. This option is reasonably exclusive, does not apply to everyone, and typically only goes back one or sometimes two generations.
Citizenship by Birth: Various countries, such as Canada, the US, and others, grant citizenship to anyone born within their borders.
Citizenship Through Marriage: Countries such as Australia and Canada have a process to make it easier for a foreign spouse of a citizen to obtain residency and eventually citizenship. But these processes are becoming more onerous.
Naturalization: Most ex-pats will be able to become a citizen of their current country by meeting the criteria set by that country. Some countries, such as KSA and Qatar, do not allow this, so those on temporary visas must eventually leave. The amount of time one must spend in the country before qualifying varies depending on the country.
Citizenship by Investment (CBI): One of the most inclusive options is CBI. It offers a route to naturalization provided by some countries around the world. Though a handful of countries only offer these, they still allow investors and their qualifying family members to secure citizenship with an investment in the nation’s economy.
In this article, we discuss a way to obtain citizenship by Investment. This is an easier and quicker process than just obtaining citizenship by birth.
What is Citizenship by Investment?
Citizenship by Investment has been around since the Roman Republic. Of course, it’s changed a lot, but the core idea is still there: people can invest in a country’s economy and get citizenship.
In the past few decades, many countries have created programs that allow foreign nationals to achieve citizenship through investments. St Kitts and Nevis, a country many consider the grandfather of these programs, started its program in 1984, and many other countries followed suit.
Investing in a country’s economy to gain citizenship can take many forms. For example, an applicant can donate to a government development fund, purchase government-approved real estate, or invest in any other venture the government deems suitable.
The minimum Investment for this kind of visa varies depending on the country and the type of Investment. Still, applicants can now obtain a second passport at just USD 100,000.
Investors who opt for Citizenship by Investment programs can apply to bring along all their family members, with most programs including spouses, dependent children, parents, grandparents, and occasionally even siblings, on a single application.
What Countries offer Citizenship by Investment Programmes?
Currently, eight different countries operate a government-run Citizenship by Investment Programme. These countries are:
- Antigua and Barbuda
- Dominica
- Grenada
- Malta
- St. Kitts and Nevis
- St Lucia
- Turkey
- Vanuatu
How Does it Work?
Gaining Citizenship by Investment is a reasonably straightforward process. It differs from one country to the next, but every principal applicant must:
- Have a clean criminal background
- Submit a full application
- Pass Government due diligence checks
- Make a qualifying investment
Except in the case of Malta, which requires an applicant to have resided in the EU nation for a year before granting citizenship, all other Citizenships by investment programs do not require applicants to live or even travel to the country, as the entire application is completed remotely and passports can be delivered.
How long does it take?
The time required to obtain Citizenship by Investment varies from country to country. For example, some applicants have to wait six months for their application approval. In contrast, others spend just three months on this process.
For example, The Caribbean nations of Antigua and Barbuda, Dominica, Grenada, St Kitts, Nevis, and St Lucia all have an average processing time of 3-6 months.
The country of Vanuatu has the shortest period. For example, processing a Citizenship by Investment application will only take 2-4 months. Turkey is at an average timeframe of 6 months, while Malta requires eight months of processing and requires applicants to reside one year in the country before obtaining citizenship.
Why invest in a second passport?
A second passport provides greater mobility around the world. St. Kitts and Nevis currently offer visa-free travel to more than 142 countries. A Maltese passport provides visa-free access to 185 countries, including the US and Canada. The only exception is Turkey, which currently has limited accessibility to desirable locations such as the UK, the EU, Hong Kong, and many others.
But investing in second citizenship is much more than just getting the opportunity to leave your home country; it’s the best way to protect yourself and your family against instability or political turmoil.
How to start the process?
To begin your journey to obtaining a second passport, contact us today to book a free, comprehensive consultation with one of our Citizenship Investment experts.
We provide personalized service and honest immigration advice to case filing support. Our Professional Help Will Guide You through the Complex Process of Immigration business expansion, visa-free travel, and creating a legacy all come together when you Invest in a citizenship program and be the Global Citizen in just 4 to 6 months. Take the first step towards a more successful happier future. Citizenship by Investment starts with ??? ???,???.
We deal in St. Kitts, Dominica, Grenada, St. Lucia, Antigua, Vanuatu & Turkey programs.
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