Benefits Of Citizenship By Investment
- Enhancing Global Mobility
Many passports are quite restrictive in their visa-free mobility, forcing citizens to obtain visas whenever they need to travel abroad. A second passport can offer individuals from these countries increased global mobility. For example, the passport of Pakistan allows visa-free entry into only 40 countries, whereas the passport of St. Kitts & Nevis allows visa-free entry to 150+ countries. The difference in global mobility equals an incredible amount of time saved filing visa applications and is priceless to businesspeople the world over.
Persons with a second passport can opt to easily leave their home countries in a turbulent time. Civil unrest, political, economic, or social turmoil have always been used to fuel the demand for alternative residency and citizenship programs. For many it is crucial to have a backup plan and a second passport can be a sort of insurance policy against offensive new regulations or political instability.
- Citizenship for the Whole Family
All citizenship by investment programs allows investors to include their family members in the citizenship application as dependents. Thus, applying to such programs is not the individual move but rather an action that avails all family members. Furthermore, citizenship acquired through such schemes can be inherited by future generations. Hence, acquiring a second passport is a long-term investment benefiting investors successors in the future.
- Tax Management
Dual citizenship may prove advantageous for tax optimization purposes. For example, some countries only tax income earned from that country and do not subject capital gains to taxes either. This allows investors to manage their wealth more efficiently and effectively.
- Safe Banking and More Privacy
People with a second passport have easier access to global banking services. Banks in countries with citizenship by investment programs have proven their security and accessibility. If HNW individuals doubtlessly think that depositing money into a bank in their home countries is not safe, then obtaining a second passport is a solution, which expands investment opportunities by accessing offshore banking.
- New Business Opportunities
If you are a business owner, you can extend and establish your enterprise operations to a different country more easily. There will be fewer requirements for you to meet as you already hold “citizen” status instead of being categorized a foreign investor. New business opportunities open up to participants in citizenship by investment programs as they can now do business in the host country as well as travel abroad more freely.
Education is the foundation of a successful life as a global citizen. Investing in a second citizenship can open up access to the best schools in the world for applicants and their children by qualifying them for domestic rather than international tuition fees.