Back to Blog

Five Reasons Why You Need a Second Passport Now

Published by
Date Published: May 28, 2018 | Date Updated: August 17th, 2020
By May 28, 2018 August 17th, 2020 No Comments

Entrepreneurs and businesspeople need frequent travel without border limits, and the type of passport they possess has a strong bearing on where in the world they can go, and with whom they can do business. This limits opportunities for investments, business partnerships and tax efficiency. The second passport, however, can help get over this barrier.

Many countries; however, welcome citizens from other nations to hold dual nationality with them in return for real estate investment or donation. These second citizenship schemes can open a world of travel and business opportunities globally.

“Entrepreneurs and business people need frequent travel without border limits”

Here you have five key benefits of having the right passport– and how it can help you reach your international business goals through Savory & Partners, one of the largest companies in the Middle East that provide citizenship-by-investment programs:

Visa-free travel

A second passport gives you the ability to travel the world freely. For example, holders of the Commonwealth of Dominica passport can travel freely to approximately 120 countries, while citizens of Malta can get visa-free (or visa-on-arrival) access to around 166 countries. EU passports give you access to more than 160 nations visa-free or visa-on-arrival, or in the case of Portugal, you gain access to more than 175 countries, hence the passports’ high ranking.

People Who Read This Article Also Read: Cyprus Citizenship by Investment – What You Need to Know

Entrepreneurs and businesspeople need frequent travel without border limits

Tax Benefits

Any potential tax benefits of second citizenship will depend mainly on the country you are from and your state of second citizenship. Some countries, particularly in the Caribbean, offer much lower tax rates than many developed nations. Therefore, becoming a second citizen of such a country may present opportunities for higher tax efficiency.

People Who Read This Article Also Read: 5 Reasons to Invest in European Residency

Greater access

One of the main advantages of a second citizenship is the more significant access it gives to millions of potential customers. As many countries limit business markets to their citizens, obtaining second citizenship means you not only can do business in that state. Still, you can also trade with the many others that your country of the second nationality gives you access to– essentially becoming a gateway to the broader business world.

One of the main advantages of a second citizenship is the more significant access it gives to millions of potential customers-1

Financial Benefits

Second citizenship not only allows you commercial access to the country of your second nationality but in most cases, much more as well. The second passport can open a host of business and investment opportunities. Indeed, some countries do not accept foreign investment from certain nations. Thus, foreign nationals will not be able to take advantage of good interest or exchange rates. They may not be able, too, to invest in lucrative property markets, such as those in Europe. A second passport will undoubtedly help you get over this limitation.

The perfect solution for political and economic instability

Should the country where your business is based undergo any significant financial, social or political cataclysm, second citizenship offers you the option of relocating your assets to another more stable nation.
Besides, having second citizenship can provide you with an escape route from any potential conflict, civil unrest, or travel sanctions imposed upon your home country.

A second passport is the perfect solution for political and economic instability

While obtaining second citizenship can be complicated; thus, require a substantial investment along with professional guidance, it can be a little price to pay for the potential advantages on offer. It opens up a whole new world to both individuals and businesses.

If you want to find out more about how you can set up a customised residence and passport strategy as an investor, be sure to sign up on our website or call our team.

Our Availability

We are available on every channel convenient for you.

Jeremy Savory

About Jeremy Savory

Jeremy Savory, the founder and CEO of Savory and Partners, runs one of the world’s leading HNW citizenship by investment firms. The second passport company has coverage in over 20 jurisdictions including Europe.

Citizenship Enquiry

Leave a Reply