What is dual citizenship and what are its advantages?

Dual citizenship gives its holder many advantages such as ability to settle in other countries, increase mobility, and diversify investment portfolio.

Dual citizenship or what is called second citizenship can be obtained in several ways, but first make sure that your first and second countries accept dual citizenship.

Dual citizenship means obtaining a second, third and fourth citizenship in addition to your first citizenship, so you must adhere to the laws imposed on you and at the same time benefit from the advantages and rights of holders of these nationalities.

Ways to obtain dual citizenship

✓ By lineage (ancestors)

✓ By marriage

✓ By naturalization (long-term residence)

✓ By citizenship through investment

Position of some countries regarding dual citizenship

✓ Countries such as America, Canada, Bahrain, Kuwait, the Sultanate of Oman, Qatar, Saudi Arabia, the Emirates and Yemen accept dual citizenship.

✓ India, China, Ethiopia, China, Iran, Japan, Malaysia, Singapore, Ukraine, Vietnam, Kuwait, Oman, Qatar and the Kingdom of Saudi Arabia do not accept dual citizenship.

✓ Argentina only allows dual citizenship if you are an Italian or Spanish citizen, and Spain only accepts dual citizenship from several countries.

✓ Australian parliamentarians with dual citizenship cannot run for election, in Egypt and Armenia you cannot run for parliament, and in Colombia you are prohibited from applying for the Ministry of Defense and Foreign Affairs.

✓ In Azerbaijan, dual citizenship can be granted after a presidential evaluation, while Ethiopia does not allow dual citizenship, but the Ethiopian identity card reserves some privileges for individuals who have become citizens of other countries.

✓ Distribution and diversification of the investment portfolio across several countries and routes.

✓ Wider social services, free education in different educational institutions, healthcare in the best hospitals.

✓ Possibility of owning real estate and opening companies and bank accounts in different places.

✓ Greater mobility with two passports.

✓ Settling in two different countries and experiencing different lifestyles and hedging in case of disasters and problems.

Are there any disadvantages to having dual citizenship?

Yes, it is known that despite the great importance of the advantages that dual citizenship provides, it is not without potential disadvantages.

One of these drawbacks is the issue of double taxation, as most countries impose taxes on both domestic and foreign property, such as America, but Caribbean countries do not impose any taxes on foreign property, profits and companies outside their territories, thus protecting yourself from its biggest drawbacks.

There are some countries that do not accept dual citizenship, and when you discover this, they will ask you to cancel one of the two nationalities, and with Caribbean countries recognizing dual citizenship, you have gotten rid of the other drawback.

Another drawback is the legal obligations that you must follow in order to maintain your citizenship, as countries that offer citizenship by investment, such as the Caribbean, do not require any obligations from citizens after obtaining their citizenship. You do not have to travel to these islands at all unless you want to and you can only benefit from the advantages of the second passport that you will obtain.

As mentioned, despite the importance of dual citizenship and its impact on individuals around the world now, it comes with its challenges and responsibilities. Let Global Citizen Consultants guide you in choosing a second citizenship that you can benefit from without compromising your legal status and obligations. Talk to one of our experts.