Dual Citizenship, Second Passport & Citizenship by Investment
Citizenship is the legal status of an individual. This status supports a citizen to defend its rights in front of Governmental authorities. It is related to his responsibilities towards the country as well. Any individual can have citizenship in more than one country. Dual Citizenship means holding citizenship in two countries.
We will provide you a complete service from the beginning of the application till the end to facilitate you getting the citizenship/ Permanent Residency in your desired country. We will make the complex process simple for you by taking care of your documentation, expediting your application process, helping you in the right investment choices, and all liaisoning activities with the government of the target country.
What are the Benefits of Citizenship by Investment?
The large pool of benefits from Citizenship by Investment attracts one and all. This is a $ 3 billion USD industry. Every year it is growing at a consistent rate of 20%. Let’s discuss some of the most important benefits of it.
1. Quality of Life
People get attracted to Citizenship by Investment programs to achieve their desired quality of life. In the age of the Internet, one can check the quality of life in as many countries as he/she wants. If he/she is not happy in her own country can seek citizenship by investment in a country of his/her choice. Though all countries do not have citizenship by investment programs, most of them are opening this opportunity to boost their economy. Some countries do not have this program but have permanent residency through investment programs. A permanent residency cardholder enjoys the same quality of life as a citizen.
2. Wealth Management and Portfolio Diversification
There is a popular saying, “Don’t keep all of your eggs in one basket. That means it is a high risk of not having a diversified investment portfolio. A diversified Portfolio means having a variety of investments in different vehicles. This reduces and lowers the risk of the investor. Citizenship by Investment programs helps High Networth Individuals to have a diversified investment portfolio. And, helps with prudence in wealth management.
3. Safety from Political and Economic Instability
The tendency of a government to collapse due to conflicts between various stakeholders of power in the country is known as political instability. Political instability leads to a cut in productivity and human capital accumulation. That paralyzes the machinery of the country gradually to an extent where no growth is possible. GDP falls sharply and the value of the currency. With social unrest added to it. The air of disappointment and frustration spreads like an epidemic. Security threats, economic implosion, human rights violations, and refugee flows increase rapidly in these countries. To know more about this refer Fragile States Index of 2019. Citizenship by Investment is a route for citizens living in such countries to avoid such a situation and live a flourishing life in another developed country.
4. Expansion of Business
The Ease of Doing Business Report published by the World Bank Group every year gives comprehensive details of 190 economies of the world starting from Afghanistan to Zimbabwe. Every year a lot of reforms are made in every country to attract foreign investment in various sectors. Businessmen facing major hindrances in one country may choose a better geographical location with a high score in ease of doing business. Citizenship by investment in other countries opens the door for the expansion of business in favorable countries.
5. Access to a world-class Education System
The Education system in most countries is outdated and there has been no much revision done in it over the years. Being innovative is the key to survival in the business world today. That comes from world-class education and is exclusively found in only a few developed countries. Children’s education is the highest priority for parents worldwide. Citizenship by investment in selected countries gives access to a world-class education for the next generation. In addition, the parents are able to ensure that the tuition fees are affordable, during education students can work without a working visa, no need of any sponsor for a work visa after completion of studies to mention a few.
6. Traveling made easy
The second passport obtained by investment gives access to visa-free travel to a wide range of countries. Citizenship by investment allows visa-free travel to 183 countries, Cyprus-174 countries, Antigua & Barbuda 150 countries, St. Kitts & Nevis- 154 countries, St. Lucia- 145 countries, Commonwealth of Dominica- 139 countries, & Turkey-111 countries. The passport of each country is entitled to visa-free travel to a specific number of countries.
7. Savings through tax benefits
Two factors viz.
The incentives offered by the country of second passport &
The decision of the investor to declare his primary tax residence gives a scope of a wide range of tax benefits.
The tax benefits finally result in the accumulation of savings of wealth.
8. Right to the state of the art health care facilities
Migrating to a new country with the latest health care benefits can be achieved through citizenship by investment programs. Countries that have introduced citizenship by investment programs have state of the art health care facilities to boost foreign investments and improve the quality of life in their countries.
The above-mentioned benefits are not exhaustive in nature; there are other benefits like State-sponsored health insurance, Increased employment opportunities, Retiring Abroad, & Reunion with family abroad are to name a few.