18 May 2021
Top 3 reasons to obtain a second passport
One of the most important strategies to investing is diversification. Investors understand how to use this tool to their advantage and grow their wealth. This key factor is not only important to build an investment portfolio, but it is also a key factor in creating an offshore lifestyle strategy. Getting a second or even multiple passports leads to an abundance of opportunities.
Planting flags around the world is not only a smart choice, but it has ultimately become a necessity in today’s world. A person’s citizenship defines them, in every sense. It dictates where you can live, where you can travel to, and it bounds you to a single government limiting your personal, economic and financial freedom.
Here are our top 3 reasons to obtain a second passport:
Getting a second passport allows individuals to have a backup plan if ever needed. As a citizen of a nation, you must adhere to the laws and regulations set by the government. In today’s global economy, our future is uncertain. Taxes increase, the threat of war, economic sanctions, and currency crises are all valid reasons to consider getting a second passport- not only to set up a contingency plan but to legally un-bound oneself from a certain country.
Having a second passport in hand comes with an array of benefits including having access to visa-free travel to more countries. In addition, applicants may live, work and study in more than 1 country, increasing their lifestyle options. Applicants can also benefit from any social programs the country offers.
Diversification is essential, and that includes diversifying your investments in multiple jurisdictions. Holding dual or multiple citizenships opens doors to individuals offering more variety in real estate investments and other business opportunities. Individuals also can move their business and banking offshore and benefit from attractive tax incentives.
The global pandemic was an eye-opener for many, and individuals are now seeking to expand their international reach and to avoid limitations on their personal freedom. While citizenship by investment programs does not come cheap, it certainly offers a high return.
Email us at [email protected] to learn more about our citizenship programs or if you’re ready to start the process.
Written by Michelle Hammond
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