Attaining alternative citizenship and, therefore, a second passport is becoming more and more alluring, especially in times of crisis. This will help you drastically to enhance your international mobility, as the second passport opens the door of visa-free travel, diversifies your wealth portfolio, creates business opportunities, and gives you an insurance policy against possible socio-economic or political turbulences. A second passport will save your time, can help to improve your lifestyle, gain more freedom and conceive new opportunities.
The first decade of October 2021 witnessed that the international tax system is going to be reformed. The world is discussing to impose a universal global minimum corporate tax, while in Europe, lawmakers are pushing for tougher policy against tax havens and wealthy people who are using offshore jurisdictions to hide illicit assets.
A second passport makes your life better, lowers the risks from any kind of turbulence, and augments freedom. It costs money, but in the end, you get a certificate of citizenship and passport in a relatively short period of time and, with it, more travel freedom and opportunities to internationalize your business.
The Caribbean nation of Antigua and Barbuda has been granting citizenship to foreign investors, complying with a certain criterion, since 2013. Its citizenship by investment program significantly differs from other similar Caribbean programs, as it envisages multiple investment options to qualify and, unlike others, requires physically residing in the country for at least five days in the first five years starting from obtaining citizenship.
The ongoing Covid-19 pandemic has surged the demand for alternative residency and citizenship programs, as people realize that with a second passport, so-called ‘plan b’ is secured for the whole family. Second citizenship and passport help to the diversification of assets and grant visa-free access to more than two-thirds of the world’s countries.
Residency by Investment (RBI) or ‘golden visa’ programs allow foreigners, in exchange for investment, to attain a residence permit in a country where the money is spent. Generally, various investment options are available, but the most popular one is buying real estate. Investors gain a valuable and tangible asset, in addition to residency rights.
With the development of blockchain technology and the emergence of cryptocurrencies, governments of many countries have commenced imposing new tax enforcement and regulations. That is why many investors have started to look for offshore options to secure their assets and diversify a wealth portfolio. This is especially due to wealthy crypto-holders.
In the era of global challenges, people are more prone to secure safe havens for themselves and their beloved family members. Wealthy people from all around the world have long ago found out that obtaining alternative citizenship or residency rights in exchange for investment is an excellent way to diversify a wealth portfolio and, along with tangible benefits, gain a wide range of intangible advantages.
More than dozens of countries across the world offer a possibility of obtaining their citizenship and second passports to foreign investors through citizenship by investment programs.
In the era of globalization, a second passport for wealthy individuals has become a necessary commodity for many purposes – it creates an opportunity to diversify the investment portfolio and expand business globally; eases international travel by allowing visa-free access to many destinations; gives a peace of mind by securing some kind of insurance policy for the whole family in case of turmoil, so-called ‘Plan B.’