- Why Should I Get a Second Passport?
- Are You Allowed to Get a Second Passport?
- How to Get a Second Passport?
- Invest in a Second Passport!
- Do you want to see results?
Before we start diving into how to get a second passport, I would like to begin by answering the question: why do you need a second passport?
None of us have chosen our birthplace or our parents. It is an entirely random act of nature, which put us in either "the right place" or either "the wrong place".
Usually, our parents are citizens only of the country where we were born. Therefore, we only get one nationality and one passport.
Being tied to one citizenship means setting all your luck in one single country!
Why Should I Get a Second Passport?
Based on the flag theory, a second passport is one of the most important flags you should plant to protect and maximize your freedom.
On one hand, a second passport gives you more freedom of movement between countries, which can be categorized as banal, if we only see this from the perspective of a holiday.
But on the other hand, we could also categorize it as vital, if we see it from the perspective of an unplanned emigration forced by political, social unrest and/or economic crisis.
A recent example of it would be the crisis in Venezuela. For many Venezuelans, a second passport means a life insurance policy and a ticket to a more free and more secure life for them and their families.
A second passport will not only open you the doors in many more countries to live, work, do business and invest. It could be a life insurance policy for you and your family in case a major crisis arises in your home country, that forces you to run away!
Can You Be Sure That You Won't Need a Second Passport?
Throughout history, we have seen many cases where the citizens of a country had had to emigrate for various reasons ranging from wars, political persecution, economic crises, hope for better opportunities, and better quality of life.
You can never rule out the possibility that your home country won't pass for a major crisis that forces you to leave the country unexpectedly!
But not everything is about a crisis!
Today we can also see a lot of entrepreneurs and investors moving to new countries to free themselves from the heavy tax burden and bureaucracy in their home countries.
Are You Allowed to Get a Second Passport?
Not all countries allow their citizens to get a dual or multiple citizenship simultaneously! There are other countries, like Germany and Austria, which apply some restrictions.
For example, German citizens must fill a retention application, called "Beibehaltungsantrag", to maintain their German passport, if they want to get a citizenship outside Europe.
You need to check if your country allows dual or multiple citizenship. Here you will find a list of countries, which let you to get a second passport:
- Antigua and Barbuda
- Costa Rica
- Czech Republic
- New Zealand
- South Africa
- South Korea
- United Kingdom
- United States
How to Get a Second Passport?
Now that you know the importance for you and your family to get a second passport; let us continue with the how to get it.
Here you will find five (5) ways of how to get a second passport:
1. By Ancestry
Tracking down your ancestry, it is one of the easiest and cheapest way of getting a second passport!
If you are fortunate that your great-grandparents, grandparents, and/or parents have a foreign nationality, many countries grant citizenship based on family ties. This "right of blood" is named "Jus sanguinis".
Of course, this option requires a bit of bureaucracy and time to gather all the necessary documents and carry out the process, but in most cases, it is much easier and safer than the naturalization process.
Countries like Germany, Austria, Greece, Canada, Hungary, Chile, Ireland, Italy, Spain, Poland, Portugal and United Kingdom grant citizenship to descendants of emigrants living abroad.
2. By Naturalization
This option can be time-consuming and typically will require a lot of effort from your side!
First, you need to get a residence and/or work permit in the second country first.
In the majority of cases, you have to live and work in that country for the minimum required time, which ranges from 3 to 10 years.
The naturalization could also mean a long process, including learning the language, integrating into the society, paying taxes and social security, and taking a citizenship exam.
As an example, it took me 8 years on that process and hundred of thousands of euros in taxes to get the German passport!
Most countries offer a naturalization process! Interesting ones could be countries like:
- Argentina (2 years), Belgium (5 yeas), Chile (5 years)
- For Panama (5 years) and Paraguay (3 years). you are not necessarily required to live and work there, but that increases your chances!
Although it is a good alternative for many people, the great disadvantage is that it takes a long time, a lot of effort and it's not granted for sure.
No one can give you the certainty that the policies and laws of naturalization will not change during this long process!
Additionally, even if you meet all the requirements, the approval of your citizenship application is not guaranteed.
If your application is rejected, all the years and efforts invested would be wasted!
In general, we can say that the longer you must wait to apply for the naturalization, the higher the risk.
3. By Spouse
Another possibility of obtaining dual nationality is through your spouse.
If you are married or planning to marry a foreign person, I recommend you to research the requirements for getting the citizenship of your spouse's country and take advantage of this great opportunity.
Your spouse's country may not represent a substantial advantage, and it could even put you at a disadvantage.
For example, in terms of taxation, it won't be a good idea to apply for the citizenship of a country like the United States of America.
4. Second Passport for Your Children
If you want to give your children an excellent birth gift, I recommend planning their country of birth! This "right of soil" is named "Jus sanguinis".
Currently there are more than 30 countries that grant nationality by birthright, among these we can mention:
- Argentina, Barbados, Belize, Brazil, Canada, Chile, Cuba, Ecuador, Fiji, Grenada, Guatemala, Guyana, Honduras, Jamaica, Lesotho, Mexico, Nicaragua, Paraguay, Panama, Peru, Saint Lucia, Saint Vincent and the Grenadines, Trinidad and Tobago, Tuvalu, Uruguay and USA.
If you do not choose intelligently the country of birth of your children, you may even create problems for them in the future.
For example, the United States of America is a country that implements a citizenship taxation system.
This means, if your children get U.S. citizenship, they will be accountable to the U.S. tax authority (IRS) for life, even if they never live or work in the U.S.
5. By Citizenship by Investment (CBI) Programs
One of the fastest and safest ways to obtain a second passport is by using the Citizenship by Investment (CBI) Programs offered by some countries.
Each program has particular requirements and investment options. Most of the time, the options involve real estate investments or government bonds investment.
The second common option to participate in a Citizenship by Investment Program is by a non-refundable “donation” to the country, which is not different than buying yourself the citizenship of that country.
If you are a successful entrepreneur and/or investor, investing in a second citizenship not only means more options and more freedom for you and your family, but it could mean hundreds of thousands and even millions of dollars saved in taxes.
The time it takes to get a second passport through Citizenship by Investment Programs ranges from two to six months. Most of these countries do not require the applicants to travel to the country to become a citizen.
There are about 13 Citizenship by Investment Programs available at the time of writing this article.
- Caribbean Islands: Antigua and Barbuda, Dominica, Grenada, Saint Lucia, St. Kitts & Nevis.
- Europe: Malta, Cyprus, Moldova, Montenegro, Turkey.
- Pacific: Vanuatu.
Although it is an effective and quick option for getting a second passport, with investments starting from $100,000 and going into the millions, it is a pretty expensive option for most people.
In our Offshore Secrets Online Course, we offer two video lectures with over 3 hours about how to get a second passport and a deep dive talk on the Citizenship by Investment Programs with our official partner, who have over 28 years of experience getting second citizenship for customers all around the world.
Invest in a Second Passport!
Investing in a second passport will bring you not only more freedom and safety, but it will bring a great return on investment (ROI).
Some of the countries participating in the CBI Programs do not impose taxes on income, wealth, or inheritance!
If you would like more information about getting a second (or third, fourth…) passport through one of the CBI Programs, and a personalized quotation, please visit our new post!
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