second passport programs image

Future of Second Passport Programs & Citizenship By Investment

Times are changing, so what is the future of second passport programs and citizenship?

 

Globalization has created a demand for talent. Big businesses are willing to fully relocate people in order to satisfy business needs. You see this very frequently in the field of teaching abroad. However, a secondary passport may be desired by someone currently mixed into an unstable, political landscape. These individuals may not be able to enter a new country because of their (lack of choice in) country of origin.

 

We’ve seen this just recently with the travel ban the United States put in place (and now suspending) for those coming from the Middle East.

 

Other reasons a person may want to obtain a second passport are the benefits of having citizenship with the adopted country.

 

Example: I personally could gain my dual citizenship and gain a secondary passport with Canada which would give me easier access abroad and open up being able to benefit from Canadian laws if I were to move to the country and settle down. The reasons will vary as to why you (or someone you may know) may want a second passport — this article will help you understand the process of obtaining one, the added benefits you may see when holding one, and what it’s like when using the second passport programs.

 

Let’s go right into the process.

 

second passport programs imageHow to Apply and Buy a Second Passport through these Second Passport Programs

 

Billions of individuals cross borders each and every year. There are hundreds of millions of expatriates living in countries all around the World. The number of individuals traveling and seeking new opportunities continues to grow. Unfortunately, many countries (such as the United States) and the collective of the EU have begun to introduce laws to make travel inconvenient. There are many laws in place which prevent certain passport holders from investing in a new country, open bank accounts, or even escape the political chaos. This is the reason for a second passport. This can be done legally through various second passport programs.

 

The idea of “Citizen by Investment” is becoming the norm for those seeking new opportunities and unrestricted access to the World. An example of this can be done through business investment in areas such as the Carribean. The capital investment creates the opportunity to obtain a second passport while also reaping the benefits of a market primed for explosive growth. The investment into obtaining a second passport will be high depending on the country but weighing the benefits and freedom — it’s worth it. Here is how you can go about obtaining a secondary passport:
 

Economic Citizenship

 

The idea of ‘economic citizenship’ or ‘citizen by investment’ is through making a large investment in the destination. There are several countries which have become a fine choice in economic citizenship including:

 

There are several countries which have become a fine choice in economic citizenship including:

 

  • St. Kitts and Nevis – A donation of $250,000 – $300,000 toward the local sugar industry can be made, or a larger investment (usually $400,000+) can be used to purchase a government-approved property.
  • Grenada – A $500,000+ investment into government land will give you access to the new passport though it’s required to have residency for at least a year before fully obtaining the item.
  • Dominica – A cheaper option for those unmarried is found in Dominica though it’s not common to lose out on a lot of the capital investment.

 

The terms and second passport programs continue to change each year so it’s best to get a good idea of multiple locations offering citizenship by investment.
 

Naturalization

 

A longer process of obtaining a second passport is through naturalization which is living in a country of your choosing until the opportunity comes when you’re able to apply for citizenship. This process of naturalization can take many years (even decades).

 

The general process is as follows:

 

  • Obtain the right to work in the country
  • Invest in property and pay taxes

 

In some situations, it may be as simple as landing a small job and opening a bank account while others may require you to make major investments into local projects.

 

Those seeking a second passport through naturalization may want to consider these areas which are typically the fastest route:

 

  • Canada
  • Panama
  • Paraguay
  • Uruguay
  • Brazil

 

A common method is to start a business within the locations, pay yourself a taxable salary, and make investments into the stock market. After a typical period of four years — many of these countries then allow you to apply for citizenship.
 

Citizenship by Descent

 

Check into your family tree to see your ancestry because it just very well is the way you’ll obtain dual citizenship and a second passport.

 

Countries that have ancestry programs for citizenship include:

 

  • Brazil
  • Ireland
  • Israel
  • Italy
  • Spain
  • Canada

 

The process of finding your lineage is extremely simple these days. There are many services and programs that use DNA testing to learn about your ancestry and help to get you in contact with relatives. You may be surprised to find that you have a blood line connected to one of these countries. It’s worth examining since it’s often the most inexpensive option for obtaining the second passport. It will be a long process, no doubt, but it IS doable.
 

Conclusion

 

A second passport is a sort of like creating an emergency plan but on a global playing field. When things go sour in your country of origin — you can fall back on the new passport to pick up where you left off without a major setback. You may want a second passport for political reasons. Some people want the flexibility. Others want to get one for business reasons.

 

The process of applying, buying, and gaining a second passport may take time and a financial investment but it’s worth it in the long-run. You can do this!

 

At InterPass you will find a wealth of knowledge to help you understand the process of buying a second passport. Select from our menu the country of your choice and get everything you need to get the process started. Or, get in touch with us through email, a phone call, or reach us on social media.

 

Now, over to you: Share your experiences on why you chose to get a second passport, which second passport programs you may have used, and the process behind it all. Leave a comment and help others interested in the topic!