While you cannot choose where you are born, you can choose where you live. This is the beauty of dual citizenship and all the advantages that come with it.
While you can be born with dual citizenship, granted by the nationality of one or both parents, more often than not, a second citizenship is a choice made by savvy investors who are wanting to expand their horizons in a new host country. There are sterling advantages in choosing to become a citizen of another country and enjoying the benefits across a global spectrum.
A Plan ‘B’
Amidst all the global chaos and the worlds’ reaction to the COVID-19 pandemic, people in certain territories are feeling increasingly vulnerable and recognise the need to formulate a backup plan. Many countries are experiencing political unrest, economic instability and rising insecurity, so being able to choose a second home for oneself and one’s family is a major pull-factor for investors.
Securing the Future
We all want to build better lives and brighter futures, and one of the perks of gaining citizenship to another country is enjoying the same amenities and world-class facilities as the locals. Access to robust healthcare systems, improved educational opportunities, a safe and secure lifestyle, and a wealth of business opportunities, continues to drive investors to seek out dual citizenship opportunities.
Global Travel Freedom
International visa-free travel is a dream turned reality for those with second citizenship. For some, this freedom affords the ability to flee their home country that may be in a tense political situation; for others, it may open up a world of business prospects. However, the biggest benefit for all is the ease to be able to move throughout the globe with little hassle, fewer queues and ultimately, no need for visas.
Expanded Business Opportunities
Along with the freedom of global travel, those with a second passport also enjoy extensive access to international and emerging markets. Dual citizenship presents savvy business investors with new business and investment opportunities that would not necessarily have been available to them in their country of birth.
By investing in a second citizenship, you can invest your money and diversify your assets into a country that is not just financially sound, but one that also offers the peace of mind of foreign exchange stability.
A Legacy For Your Family with Dual Citizenship
Not only are you able to acquire second citizenship for both yourself and your family, but you are also able to pass this citizenship down to future generations. This allows you to leave behind a glowing legacy for your family and their prospective families to obtain life-long second citizenship.
In some territories, property ownership is limited to citizens. With a second citizenship, you can own property in either or both countries—which means you can also easily live, work, and retire in both.
How Can I Get Dual Citizenship?
There are a few different ways in which one can acquire second citizenship depending on their circumstances. Citizenship by birth, descent, and naturalisation are some of the most common, but by far the most expedient is through citizenship by investment (CBI) programmes. These programmes all differ depending on the country, but with around a dozen different countries around the world offering citizenship by investment opportunities, investors are spoiled for choice.
What is Citizenship by Investment?
Citizenship by investment is the process through which an individual and their family can obtain legal citizenship to another country through various investment options. CBI programmes adhere to strict due diligence guidelines, ensuring that only well-vetted and reputable individuals apply. Investing in a CBI programme is one of the quickest ways to acquire a second citizenship, with some programmes offering processing times of just 2-4 months. It requires an investment in either a CBI government-approved real estate property or a government fund in exchange for a second passport. It’s the ideal way for families to expand and broaden their global footprint.
Aside from all of these advantages, having second citizenship gives you more choice and freedom to live a life that is bigger than your country of birth.
Choosing the right citizenship by investment programme is vital and requires careful consideration by the individual in terms of what they want from their investment. We recommended speaking to an expert at CS Global Partners before starting your journey to a second citizenship.