15 September 2022
You CAN Legally Purchase a Second Passport
Yes, you can legally purchase a 2nd citizenship with a passport to go with it! And we are not talking about the black market.
There is still a misconception that purchasing a second (or even third or fourth) citizenship – with a passport in hand in a few months – is not somehow legal. Perhaps that’s because purchasing a 2nd citizenship is so often simply referred to as ‘buying a second passport’. Sounds like skullduggery if you are not familiar with Citizenship by Investment.
In the investment migration industry, when we refer to buying a 2nd passport, it refers to the very legal purchase of a 2nd citizenship that simply comes with a passport. It’s legal to do it for yourself, for your spouse, and for your family members- when it’s done through a recognized Citizenship-by-Investment program.
You can do it remotely, and you can pack that passport in your safe and keep it for life without ever going to your new country. You may even pass your citizenship to your children. All legal.
Top countries offering the legal purchase of citizenship – with passports in hand in under 6 months
So now that you know you can legally purchase a 2nd citizenship and passport…what’s next?
Many countries around the world offer citizenship-by-investment for a select few who can offer a significant investment in that country’s economy.
But there are few countries that actively and openly court a broad spectrum of potential passport buyers with competitively priced Citizenship-by-Investment programs. These do not require anything more than a clean record, a clean bill of health, and the financial capacity to meet a well-priced minimum investment. The best of these offer the easiest and fastest application processes, the most affordable financial layout, and the quickest, cheapest and easiest citizenships and passports you can buy – legally and remotely, without even having to visit that country.
The top, most affordable, and best Citizenship-by-Investment programs are offered by 5 countries in the Caribbean: Dominica, St Lucia, St Kitts & Nevis, Grenada and Antigua & Barbuda.
The biggest benefit for many who purchase passports through citizenship-by-investment is the global mobility and financial freedoms that the 2nd passport can offer. Visa-free travel is arguably the biggest incentive for purchasing a 2nd citizenship with a passport, along with the greater freedoms for more offshore banking, investment and financial diversification. It’s not really about going to live there – for most. In recognition of that, these top CBI jurisdictions do not require applicants to reside there, or even visit at all – before, during or after obtaining citizenship (with the exception of Antigua & Barbuda which requires 5 days presence in the country in a 5 year period).
Perhaps that is why the purchase of a 2nd citizenship is so commonly termed ‘buying a 2nd passport’. For many, if not most applicants, that little book is the only thing that really matters!
For the countries offering citizenship-by-investment to a global market that values that little book more above all other benefits, it means minimal exclusions based on nationality. It doesn’t mean ‘no exclusions’ at all, or ever. Some jurisdictions may at times exclude certain applicants based on their current citizenship or nationality for geopolitical and diplomatic reasons.
However, such exclusions – such as that on Russian citizens in 2022 – are rare and highly specific. As for the rest of the world: individuals of any nationality, with any citizenship, from anywhere in the world and residing anywhere in the world, can legally buy a 2nd citizenship with a passport from these countries. There are no requirements for language tests, cultural assimilation measures or any of the other integration measures that come with migration and relocation for naturalization or permanent residency.
So, it’s not only legal to buy a citizenship that offers a far more valuable passport than what you may currently have; it may well be the preferable option if you are looking to migrate – solely or with family – now, or in the future.
Is it legal to hold Dual Citizenship?
Perhaps this is the biggest question for many. Some countries do not allow dual citizenships. In such cases, you may not legally maintain two citizenships. Anyone who has had to give up natural dual citizenship knows this all too well! The legality of dual citizenship will depend on where you hold your current citizenship. However, the practicality of this is that you really have no need to declare your 2nd citizenship as long as you enter and leave your natal or current country of citizenship with that passport and as long as you adhere to any related tax reporting regulations. Citizenship-by-Investment programs offered by 5 countries in the Caribbean offer complete confidentiality and ever report back to your home country.
All countries offering passports in exchange for investment allow dual citizenship. Unofficially, they allow multiple citizenships. It’s of no consequence to them how many passports you have if you are not using them to avoid domestic taxation or anything else disreputable. Very High Net Worth individuals from around the globe are thus investing in 2nd, 3rd, 4th passports. Many of the few who can afford to are opting for the closest thing you can get to Global Citizenship with an impressive array of passports, all purchased legitimately and legally.
But you don’t need to go full on James Bond to benefit greatly from purchasing a 2nd citizenship with a passport. For most, one carefully chosen 2nd citizenship will offer a legally obtained alternative passport that will give you what you need and want.
Purchasing a 2nd passport through a legitimate, reputable and respected Citizenship-by-Investment program is your 100% legal ticket to a world just waiting to be your personal oyster!