For those who are alien to this information, let me tell you.. Second Passport is nothing but getting citizenship from another country (too). You don’t necessarily live there or shift permanently to do so, that is the perk. Why do we need a second citizenship? Trust me! You’ll be excited after knowing this.
The idea with a second passport is that no government should have the sole power over your life or your assets. If they decide to jail you or seized your assets, most of the time you’ll are all booked, unless you’re the citizen of another country. So owning a second passport through dual citizenship in another country is an integral part of international diversification. In simple words, for any legal action against you, the government would need permission from the other country as well. Most interestingly, having passport of a few countries allows you to travel visa-free to a lot of other countries. Then imagine if you are a citizen of multiple countries?! Before you start dreaming on, let me interrupt with the two standard ways to acquire Second Passport from other countries.
Option 1: Citizenship through Naturalization
This is the usual way to get a citizenship. You’ll have to live under their military service for a certain time (differs from country to country) and then, you’ll be eligible to get the passport attested by the local government. Some of the countries you may just pay visits twice or thrice a year during that period. But this will need you to wait for a long time and the process is a bit typical.
Option 2: Economic Citizenship
This is what we are talking about. This is the fastest and probably cheapest way to procure citizenship to certain countries. The list of countries that allows you to get in with this option is small but the list of benefits isn’t. To go by this process, you either will have to invest in real estate or in certain funds as specified by the local government.
This is a European country. You can get Bulgaria Citizenship for (In British Pounds) £150,000. You’ll have to do is transfer the funds to a Bulgarian bank and then visit the country to ‘claim’ Bulgarian rights. The 18th ranked passport will give you access for a Visa Free travel to 149 countries, including USA. Isn’t that cool?
St. Kitts and Navis:
This Caribbean county will give you passport for a non-refundable contribution of $250,000 to the local sugar industry, or a minimum investment of $400,000 on a real estate property. It is the 24th valuable passport and gives you Visa-free access to 132 countries, including Brazil.
This is rated as Best valued second passport for 2016. You have the option of buying the passport for $200,000 to $250,000 or investing $500,000 to $550,000 in government bonds for five years. St. Lucia provides visa free travel to 121 countries including Switzerland.
In 2013, Malta originally announced it would sell citizenship for $865,000, but it raised the price after opposition protests. A Malta passport also gives you access to Switzerland and visa-free travel to 166 countries making it the world’s 8th most valuable travel document. But this passport needs you to reside in the country over the year.
The smallest nation of European Union’s passport is very expensive. It will cost $6.2 million for individuals and $2.48 million for those investing as part of a larger group. A second passport holder will receive the same rights and protections of any Cyprus citizen.
The 24th ranked passport acquisition has similar parameters to the St. Kitts and Nevis model – a $400,000 property investment or $200,000 charity donation. It gives you visa-free travel to 132 countries. But the list includes Canada, where a passport from St. Kitts does not.
The Russian offer is one of the most cost effective. You might qualify with an investment $165,000. Russian citizens have Visa-free access to over 100 countries and the passport is ranked 38th in the world.
It is the least expensive of the Caribbean countries; you can become a citizen of Dominica by investment a minimum of $100,000 in the country. The form of investment can include buying a property. There is no residency requirement and the country allows dual citizenship. The 41st most valuable passport gets you gets you visa-free travel to only 91 countries.
And there is Antigua & Barbuda, Grenada too.. So, what are you waiting for? Get your cheques ready6 and get your second passports by investing in their countries!
I hope you’ve found this post helpful. Let us know your comments below!
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