Citizenship by investment programs offer numerous benefits, and have been hugely successful in attracting thousands of high-net-worth individuals to pursue second citizenships around the world. There are many significant benefits associated with having a second passport. We have included the main benefits below!
1. Unrestricted Travel
Freedom of travel is one of the biggest reasons why High-net-worth-investors (HNWI) choose to invest in second passport. It is always a nightmare when a delay in obtaining a visa forces people to cancel or re-schedule an important trip. Citizenship-by-investment programmes can provide you with a viable alternative. Some countries have very powerful passports with an advantage of visa-free travelling to most countries globally. Moreover, some passports may not be so powerful, but may provide visa-free travel to major economies such as U.S., EU, Australia etc. Acquiring a second passport saves time and inconvenience resulting from visa applications. It provides a great opportunity for those who are running a global business or have the need for frequent international travel to make their lives easier, and who doesn’t want that?!
Moreover, unrestricted travel and residency rights grant people the freedom to experience different lifestyles around the world.
2. Tax Optimisation
Another great advantage of a holding second citizenship is that you may enjoy tax breaks. Many investors and businesses owners from around the world acquire a second citizenship to protect their interests and make it shelter for their finances, avoiding high taxation on their earnings.
3. Investment Diversification
An enhancement of the freedom of traveling gives people more opportunities to discover new investment opportunities - ‘Never put all eggs in one basket’. Portfolio diversification can aid mitigate investment risk effectively. Especially for the sovereigns that have a lot of internal uncertainties which may affect the domestic market, holding a second citizenship for the residences of these sovereigns provide a great gateway to international investment.
4. Attractive Social Welfare Systems
For developed, high-welfare countries, in most cases, only their own citizens have the privilege to enjoy the abundant welfare benefits. Gaining a citizenship in a high-welfare country gives people the equal rights to enjoy their social welfare such as healthcare, education, public facilities and certain political treatment as the locals.
5. Protection from Political or Social Conflicts
Political and social conflicts have always been a major risk for human’s well-being. The uncertainty of the political environment oppresses people to leave their countries of origin and seek a more stable place to start a new life. Gaining a second citizenship beforehand can hedge this risk and provide a great protection to the citizens.