In general, there is no limit to citizenships you can hold. It is quite common for one individual to hold more than 5 citizenships at the same time. You must know that dual citizenship laws, allow single citizenship and legally restrict how many citizenships you hold. These regulations deny significant population worldwide from holding multiple citizenships.
There are 223 nationalities in the world (many countries have ethnic variants of nationalities.) and 195 citizenships possible, given that there are 195 countries in the world. So you cant have more than 195 citizenships in the world. This is the limit for most number of citizenships.
Globalisation and migration patterns have pushed the the limitations of number of citizenships you can hold. It is quite common to acquire multiple citizenships through the following modes:
- Ancestry from parents (+2 citizenships possible from father/mother)
- Birth in a foreign soil (eg. US, Canada) – (+1)
- Marriage (marrying multiple partners through polygamy increases this number) (+1)
- Naturalization (living continuously for number of years) (+1)
- Honorary citizenship (political decision) (+1)
- Military service (careful with this, many nations strip citizenship, considering you enemy of the state) (+1)
So the above possibilities allow a common man to hold 7 citizenships.
If you have money, probably can invest millions, then you could buy all the all citizenships that is available from ten countries through investing, adding ten more citizenships to your inventory.
All in all, we believe it is possible for one individual to acquire and hold 17 citizenships at the same time, as of 2020.