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Most of us think that the benefits of dual citizenship lie in two documents that a person possesses at the same time. But the truth is that dual citizenship is the other meaning of freedom and opportunities.
The situation the world is going through, such as the spread of Covid or the ongoing international and local wars from time to time, make it clear that there is no stable security situation for any nationality or country in the world.
From here, investors consider securing their lives with an alternative plan and a current support plan by diversifying the investment portfolio and sharing this opportunity with the rest of the family.
The questioner may ask: Isn’t it difficult to obtain citizenship and a second passport? The answer is yes, you are right, because the ways in which you can obtain a second citizenship, such as the need to prove strong roots that unite you with these countries, long-term residence, or marry someone.
However, with citizenship by investment programs, anyone can obtain a second citizenship within 5 months with simple requirements. And it is much more difficult when a person has a weak passport. This method is the only way to freedom and diversified investment opportunities.
Some Caribbean countries offer perfect programs in this regard, with first citizenship accepted without having to withdraw it, and without sharing this passport with third parties or with the mother nationality.
Some of the advantages of dual citizenship for Caribbean countries will be mentioned in detail. But what distinguishes Caribbean citizenship is that it does not require residency, examination, or any engagements to obtain citizenship and a passport.
Benefits of dual citizenship
A second passport gives you a various of practical opportunity. The entire family, including the main investor, will enjoy diverse professional and academic opportunities from top universities.
With a Saint Kitts passport, you can open your company in any European country, with the possibility of expanding your already existing company, with the privileges of acquiring a new customer base in different countries.
Having two passports helps in acquiring new cultures and new language. With the experience of a different lifestyle, nature and atmosphere.
Dominica, for example, is famous for the beauty of its nature, which is why it is called the Island of Nature. And its citizens speak English, and it greatly benefits people who are looking for comfort, stability, and the discovery of nature.
A dual passport helps you to travel to countries where your first passport does not allow you to travel. This may be due to the weakness of your passport or due to various political and social problems that may arise between any of the countries at any moment.
For example, as a person, you are from a Middle East country. It is difficult for you to enter the European Union due to the restrictions on your first passport, but with a Dominica passport, you can enter 150 countries, not only entering, but visa-free as well.
In addition to all Schengen countries, a Dominica passport allows you to enter China, Britain, Hong Kong, and Singapore visa-free, with easy access to the rest of the world.
The second citizenship gives you free opportunities in the field of treatment, study and retirement. It is instrumental in diversifying the systems of social services that you inherit from both governments whose passports you hold.
For example, when you have a St. Lucia passport, it means the possibility of studying in Britain at low prices and in St. Lucia for free, because this country belongs to the British Commonwealth.
Given that the family is an essential component that must be thought of when taking any step. The advantage of dual citizenship for families is that it offers the same opportunities as the main investor.
Among them are new job opportunities, excellent health systems, international schools and universities, as well as outstanding social security systems. All the points we have mentioned create a better future for the rest of the family while ensuring their security.
The price of these citizenships may be high for some, although the countries we have mentioned are among the most economical investment programs around the world. As for businessmen and wealthy people, it is a suitable investment and a second passport.
Where, instead of buying a property in another country, you can buy a property with $200,000 in these countries, or make a gift to the governments of these countries with $100,000, and then get a second citizenship and second job opportunities.
– Ease of movement between the two countries, and this helps in establishing commercial projects between them, and thus reducing travel and transportation expenses, as transportation expenses are calculated as commercial expenses.
– The fact that a passport is a government paper means that it can be withdrawn at any time if the government decides it. Therefore, having a second passport and Plan B protects the investor from these changes.
– Administrative positions can be filled in both countries.
– Choosing the most appropriate educational systems between the two nationalities.
– Having a strong nationality leads to a clean and reliable criminal record.
– Getting protection from both countries.
– Saving time with business solutions and long-term plans.
It is true that the disadvantages of dual nationality lie in adhering to the laws and requirements of both countries. But the nice thing is that Dominica, for example, does not require any requirements and obligations for investors before, after and during the acquisition of citizenship.
It is sufficient for the person to have reached the age of at least 18 and in good health, and to invest in one of the available ways, while not selling the property for a period of 5 years, if the investment is real estate. To obtain citizenship of this country, it does not require you to reside, even for a day, or renounce your first citizenship to obtain citizenship.
The second problem experienced by dual passport holders is double taxation. For example, the United States government taxes its citizens on income earned in any country in the world.
Unlike Saint Kitts and Nevis imposes no tax on income generated outside its jurisdiction, with no tax on gifts and wealth, and with the possibility of opening international bank accounts. And it greatly helps in organizing and preserving wealth in emergency situations that any country in the world may go through.
The third drawback lies in the waivers granted by the individual for the purpose of obtaining a second citizenship, including long-term residence, residency expenses, and the high costs of obtaining citizenship.
However, St. Lucia does not require residency to obtain a passport and citizenship, without the need for a language exam and personal interview. In addition, Saint Lucia investment values are best suited for an investment of $100,000 in a non-refundable contribution or $200,000 in an property investment, with the potential to resell the property after 3 or 5 years with potential financial additions.
To choose the right country for your situation and learn more about citizenship programs, leave us a message and get a free consultation from our leading experts in citizenship by investment programs.
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