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Why Should You Consider a Second Nationality?

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Date Published: August 31, 2019 | Date Updated: June 8th, 2021
By August 31, 2019 June 8th, 2021 No Comments

Having a second nationality or dual citizenship means that you are a recognized citizen of at least two (but possibly more) countries. It also means that all the obligations and rights of citizens for those countries are also yours. Since passports are one of the most valuable things international travellers can have, having two passports can offer some significant advantages over having just one.

On a purely practical level, someone with a second nationality has more ease and greater freedom when it comes to international travel. As far as lifestyle perspectives go, the option of two passports allows someone to retain ties with the country they are from while being an active participant in whatever new country they call home.

“Some governments even promote the idea of citizens having dual citizenship”

While there are complexities that necessitate research when choosing to get a second passport, the advantages of having two nationalities easily outweigh that small inconvenience.

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Higher Level of Benefits and Privileges

When you are someone who holds dual citizenship, that means all the benefits and privileges of each country are yours. Not sure why that would matter? It means that in both countries you can serve in office, vote in the local election, and take advantage of any social systems that are in place for citizens. You will have reduced travel restrictions, and you will not need a work permit to work in either of the countries where you have citizenship. Also, individuals with dual citizenship can go to university at either country for domestic rates.

With a second passport you enjoy higher level of benefits and privileges

The Ability to Carry Two Passports

When you have a second nationality, that means you are allowed to carry a passport for each of the countries. This is a perk because travelling between those two countries is much easier since the entry process and customs process are going to be different than for those with a single citizenship. With dual citizenship, you have right of entry. It is not something that is for sure, even for those with a work permit or a long-stay visa in hand.

Capable of Owning Property in Both Countries

When you are a legalized citizen of two or more countries, that means you can own property based on the local regulations and laws. In some cases, countries only allow ownership rights to go to citizens of the country.

“When you are someone who holds dual citizenship, that means all the benefits and privileges of each country are yours”

This is something that can be very important to be aware of for those who spend lots of time between two different countries. In many cases, owning your property can be a more economical option than spending money on hotels or other rentals during extended stays in one or more countries.

A second nationality will give you access to more real estate investment options

There are More Opportunities Available

One of the things that creates the most opportunity in the world today is diversity. When you bring in the unique experience of being a part of two different cultures, that’s something that employers will appreciate. It may offer insight into how to approach life in new ways or help with learning a new language. Some governments even promote the idea of citizens having dual citizenship since it can help the reputation of the country rise. A lot of people who have dual citizenship say they experience a high level of satisfaction based on the opportunities open to them.

“The reality is that those with dual citizenship have double the resources and benefits of someone who has a single nationality in one country”

Governments Can Create New Revenue Streams

There are a number of different countries around the globe that make it possible for people to invest in economic citizenship and with that comes a second passport. Seven countries in total allow you to gain citizenship through investment, and three of them offer a more powerful passport for doing so. As an example, Cyprus provides access to an eventual EU passport for around two million euros. Malta, on the other hand, offers the same thing for 1.2 million euros. Those on a budget should know that Belize also provides second nationality to no more than $50,000. The reality is that these streams of revenue help a nation stay afloat and competitive. They are also keeping the doors open for additional investments in the future.

Families Stay Together

There are two main principles of citizenship laws. The first is that you are a citizen of whatever country you were born in. Second, you can apply for citizenship to the country your parents are from if you happen to have been born overseas. This is a process in place to keep families together since you aren’t required to be born on national soil to be a citizen.

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The reality is that those with dual citizenship have double the resources and benefits of someone who has a single nationality in one country. There is the option for more relaxed travel between the two countries, as well. However, keep in mind any financial and legal obligations before you finalize your arrangement.

To schedule a no-obligation consultation, please sign up on our website or call our team of expert consultants in Citizenship and Residency by Investment Programs: +971 (0) 4 430 1717 or WhatsApp +971 54 440 2955.

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.

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