There has never been a better time to possess dual citizenship than now as more and more countries experience hardship, political instability, and the threat of war. Dual citizenship allows you to have some form of protection against sudden bad and damning laws or activities in your home country.
If you’re among those looking for ways to obtain a second passport, there are several things you should know but before you go ahead, here are things to check.
Things to Check before Considering a Second Passport
To avoid a rude awakening, you should check these things before getting that second passport:
- Check if a second passport is allowed: not every country allows its citizens to hold a second passport. Some will require you to drop their citizenship before you can take another. You want to check the laws in your home country and that of the country you want to obtain a second passport from if it is allowed.
- Check taxation laws: obtaining a second passport without first checking the tax laws guiding both your home country and the country you intend to get another passport from might spell doom. Some countries like the USA require their citizens to pay some tax no matter where they reside this might mean double taxation for you if you reside out of the country.
- Check mandatory citizen laws: are there mandatory things like military or community service citizens must do? You want to know this before applying. Check if it’s something you want to do.
Benefits of Dual Citizenship
Dual citizenship gives you so many benefits like:
- Easy access to many countries: you can travel to more countries visa-free if you hold dual citizenship.
- Get the best of both worlds: while some countries are ranked higher in the global residence index and as such have better living conditions, but even the lower-ranked countries have some benefits. So, dual citizenship even in a lowly ranked country will allow you to enjoy some additional benefits.
- Plan B: dual citizenship will give you a plan B in case of any unforeseen circumstance like war or political instability.
- Opportunity to expand your business: you can use your citizenship rights in the two countries to expand your business across the countries and reach new markets.
5 Ways to Get Dual Citizenship
Here are 5 ways you can get dual citizen and enjoy its many benefits:
1 Citizen by Naturalization
Stay in some countries long enough without crime and with a solid source of livelihood and you may just qualify for citizenship. The number of years and requirements vary between countries as you may need to be a resident for anything from 10 to 15 years in some countries before you can apply for citizenship.
You may also need to show sufficient ties with the country like learning the language before you’re granted citizenship. Citizenship by naturalization is a popular way to go especially for people with residence permits already.
2 Awarded Citizenship
Although not as popular as the naturalization option it is still a way to get citizenship. Bear in mind that this is mostly given to people that have shown outstanding abilities in their various fields or as a reward for diligence.
It is a way for countries get some of the brightest minds in the world. So if you’re exceptional in your field, you may just be awarded citizenship by a government.
3 Citizenship by Investment
Quite popular among rich folks and also the fastest to get, citizen by investment is the way to go if you’re ready to invest in the country. Some countries offer investors citizenship in exchange for citizenship.
The amount and investment type are determined by the government.
4 Citizenship by Descent
You may just be eligible for a second passport if your parent or grandparent is a citizen of that country. Not all countries offer citizenship through this route so you may need to check with the laws there.
5 Citizenship by Birth
This is a popular way parents give their newly born dual citizenship. Being born in a country can grant you citizenship in that country. This option has become so widely used that some countries like the USA have stopped giving citizenship to people born in the country as they feel it is being misused.
Not to worry though, there are still several countries where you can get dual citizenship for your child if they are born there.
Holding two passports will give you so many benefits and opportunities beyond measure. If you want to get a second passport, these 5 routes will guide you to the best option for you.