Dual citizenship has been the topic for decades. Even though some citizens get it when their child is born in a foreign country or through marriage, one can also get second citizenship via investment.
The following article will discuss how and why you should obtain dual residency. Not all countries give dual citizenship, but for those that offer the incentive, we’ll analyze how to get it in the short term.
Why Should You Obtain Dual Citizenship?
There are many benefits to obtaining dual citizenship. However, below are some of the highlights and most important ones when living and working in two countries. To get professional help throughout the process, we’d recommend consulting a legal entity and getting guidance from a team of professionals.
Such an organization is NTL Trust which works with foreigners and facilitates their blending process into the second country. For more information, you can check their website https://www.ntltrust.com/ and contact them for further inquiries.
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Improved Quality of Life
Dual citizenship is the ticket to better wellbeing, diverse ecosystems, and improved quality of life. Since many individuals come from countries and communities with religious persecution and harmful discrimination, in the country of the second residence, you can access some of the most welcoming and compassionate communities, boost your sense of community, and achieve faster integration.
Better Education and Health
Another benefit of dual citizenship is better education and healthcare systems. Your living standards will improve with access to first-rate and robust healthcare and a country that takes care of its citizens. Having dual citizenship can help you get the highest quality healthcare and access to some of the top schools in the world.
Open Doors to New Opportunities
Second citizenship opens the doors for new opportunities, especially for entrepreneurs and business owners, thanks to the financial options available across the globe and the exponential expansion of local markets.
This type of citizenship gives the chance to incorporate new products and expanding the market on an international scale. It also aids in networking and tax optimization. Many countries offer tax-free or lower taxes restrictions if you operate your business in more than one country.
The second passport allows you to travel globally and follow innovative ideas. It can improve the quality of the business operations and enable the business to embrace global opportunities.
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How to Obtain Dual Citizenship?
Obtaining dual citizenship through investment programs is a popular way of becoming a citizen of the world while working and living in both countries. The fastest way to get a second passport is by investing a particular amount either in National Funds or in real estate.
Investment programs grant you access to permanent residence through capital investment, so make sure you choose the provider carefully and the country to invest in. There are a few criteria to invest in these programs so you can check them below.
Criteria for participating in the CIB – Citizenship By Investment Programs:
- Have a clean criminal record and provide a police certificate;
- You need to undergo a medical exam and provide proof that you are in good health – this includes an HIV test;
- Financial documents where your bank statement contains the information in the last 12 months before applying;
- Proof that you have money to donate or invest in the program – this includes pension statements, permit documents, or employment letters;
- Other documents like a copy of your current passport, a reference letter, a marriage certificate, original photos, or evidence of residential address;
What Are The Investment Options?
The investment options differ in various countries, however, the main prerequisites include a government donation of at least $100,000 or more, real estate purchase of at least $200,000 or a business investment, and opening of a couple of employment opportunities for a certain period.
Business investments have higher returns despite the option of reselling your property after five years. Some countries that offer dual citizenship are Grenada, St. Kitts and Nevis, Dominica, Antigua and Barbuda, Vanuatu, Cyprus, etc.
Types of Citizenship
Above, we’ve mentioned something about the different types of citizenship. The citizenship concept has been present for centuries, yet the term is redefined in the last couple of decades. The types of citizenship are:
- Family citizenship – one of the most common – jus sanguinis;
- Citizenship by birth – known as jus soli;
- Citizenship by naturalization;
- Citizenship by marriage – jus matrimonii;
- Citizenship by investment/economic citizenship;
Get Your Passport Now!
If you have the funds and are considering obtaining second citizenship, do it now! Check our blog for information regarding investment options, CIB programs, and tips on acquiring dual citizenship.