Dual citizenship opens doors to plethora of opportunities which is needed in the 21st century.
Dual citizenship is being a citizen of more than one country, often multiple nationalities. Dual citizens also carry multiple passports often a second passport. Dual citizenship offers enormous benefits such as quality of life, mobility, security, and education options for their children
We live in an era of Globalisation and immigration is hot subject these days with so many countries move to restrict immigration.
We really think, dual citizenship opens the world for you, with more benefits.
Here are some of the important benefits of investing in a dual citizenship.
1. Second Passport
A second passport is a safe haven asset, so much so, it must in your investment portfolio and the insurance policy of the 21st century financial planning
2. Second Home
Your always have a second home ready to move offering a safe passage to your family during wars, natural disasters or any crisis. You can flee without hesitating. Such careful planning takes months of planning ahead. A last minute attempt to seek a visa or residency may take long waiting times due to queues.
3. Business Opportunities
As a citizen, you get to start or incorporate your new company fast in a matter of days. Starting a business for non-citizens take so much time and bureaucratic paperwork. You also get to employ skilled and educated labor force.
4. Financial Impact
You can earn and save significant amount of money becoming a dual citizen. For example, U.S. citizens earn between 50 and 70 percent more than non-citizens.
5. Property Ownership
Dual citizens can generally own property in both countries. Some countries have limitations on real estate and land that restricts ownership to citizens only. Usually no restrictions to buy residential and commercial properties for citizens.
Citizens benefit from free education systems. Some countries like Germany, Sweden, Greece, France have free education systems. Spain offers free education only to EU citizens. For example the UK, US education is quite expensive, so having a second citizenship in one of the countries above, you get free education for your children
7. Politics and Government jobs
Citizenship comes with access to right to vote, politics and government jobs. There is a lot of debate lately dual citizens taking part in Politics.
8. Travel Freedom
A dual passport offers access to more visa free countries giving full travel freedom. For example, US citizens do not have visa free access to Russia or China. A second passport from Grenada acquired through investment have access to China and Russia.
Other benefits include citizens protected from deportation, no need to queue in borders, e-passport kiosk gates allow citizens to get through airport checks fast.
9. Double Taxation
Proper tax planning can mitigate taxes for dual citizens.
Double taxation is like a double edged sword. Infact it is only a benefit. Double taxation prevents you being taxed twice by two or more countries. US levies its citizens taxes on worldwide income.
With your citizenship status, you can chose to work any country you want without applying for separate work permit, which is required for non-citizens. It is relatively easy to find jobs as a citizen.
UK, Australia, Spain, Netherlands, Switzerland, Germany and Canada have the best health care systems in the world. Becoming a citizen of any of these countries gives you access to worlds best health care system.
If you work in one EU country and live in another, you are entitled to medical treatment in both countries. In the EU, the country responsible for your social security and your health cover depends on your economic status and your place of residence – not your nationality.
Retirees can enjoy pension benefits. Dual citizens could enjoy two pensions. For example Retired Australians with two nationalities could claim two pensions.
Another benefit is you get to spend your money more, if you live in a low cost country.
With Governments snooping around your private and social media information, sharing of bank details between countries, many people are increasingly concerned about privacy. There are several countries in the world that value your privacy and financial freedom.
For example to apply for US visa, you are now required to provide social media information.
EU countries have data protection laws government by GDPR.
14. Life saver
Dual citizenship passports can also used as camouflage passport in dangerous situations can be life saver. For example, during terrorist threats or hijacking, often americans are singled out and vulnerable. Using a camouflage passport of a second passport country will hide your true identity to escape life threatening situations.
Dual citizens have full freedom to renounce citizenship anytime and cease to be a citizen. Please note some countries do not allow renouncing citizenship.
Family and future generations also enjoy benefits of dual citizenship, once it is acquired. For example children who are dual US-German citizens can freely travel, live, work, study in Europe and US.