Dual citizenship is the hot trend nowadays. One of the main benefits of dual citizenship is the ability to own two passports. It’s a flex that not so many people can brag about.
Whether it’s citizenship by investment in Grenada or getting a second passport from Dominica, we love taking you on the road to new opportunities where you can learn more about the application process and different ways of securing that passport.
If you were wondering why you should obtain a second passport, stop that now! In this blog, we will learn about the advantages of dual citizenship and why you should acquire one. So, let’s begin.
Reduce Your Taxes
Dual citizenship helps you lower your taxes, although it doesn’t work automatically like that, certain conditions need to be met previously so you can enjoy the tax benefits. Under your country’s laws, all of the citizens might be obliged to pay taxes, even if your primary residence is from another country.
For example, the USA obliges its citizens to pay taxes every year just for the virtue of being an American citizen, or more specifically, a US citizen. Many US citizens are seeking ways to reduce their taxes by claiming the FEIE – Foreign Earned Income Exclusion.
Or in more severe cases where US citizens renounce their citizenship entirely and go by their second nationality. To avoid potential conflicts and issues in the future, it’s for the best that you consult an authorized agency that will guide you through the application process of obtaining a second passport and inform you about the rules and regulations.
Such an entity is NTL Trust, so feel free to check them at their site ntltrust.com. Make sure you are well informed about the requirements so you can qualify for dual citizenship.
One of the most underrated benefits when securing that second passport is the eligibility to live, study, and work in another country. While you are young, wild, and free, you are considering all of your options of making wealth, living your life to the fullest, and not thinking too much about what the future holds.
However, it’s important to think about the retirement days, take action now and enjoy later. You might even want to spend your retirement on an island Caribbean country, with a mojito in one hand and a book in the other. A dream, right?
With dual citizenship, you will have the freedom to retire in whichever country you’d like – well, at least in one of those two you are a citizen of. Plus, you can take advantage of the social benefits like higher-quality education and better healthcare systems.
You Can Travel Easier
The majority of people who apply for dual citizenship often want that second passport to make their traveling affairs easier. Since a second passport allows citizens to travel visa-free or with a visa on arrival to more than a hundred countries, many wealthy individuals opt for this option.
For example, Israeli citizens are prohibited from visiting Middle East countries, so many Israelis got their second passport to do business in Saudi Arabia, Qatar, or Dubai.
Getting a passport from a certain country enhances your chances of accessing particular parts worldwide. The St. Kitts passport grants you access without a visa to Brazil, a country where Australian and US citizens are required to apply for a visa.
Freedom of Mobility
Dual citizenship is a way of an insurance policy in case of an emergency or national turmoil in your country. It gives you the freedom to travel to a safer and more stable country and live a life you’ve always dreamed of, with many opportunities ahead of you.
A second passport it’s a step closer to becoming a global citizen and sharing your life experiences with people from different cultures, backgrounds, and nationalities. And as you may know, you should go where your heart belongs, so get that passport now!
While we are focusing on the reasons why you should apply for second citizenship, we often oversee the importance of new business opportunities and access to new markets. With dual citizenship, the doorway for unlimited investment opportunities opens.
For example, if you are interested in investing in Antigua and Barbuda and open a second branch of your business there, you’ll be required to get dual citizenship. It’s a valuable asset that can help you invest in the emerging market.
Get Your Passport
So far, we’ve learned about the advantages of dual citizenship and why investors opt for it. To learn more about the application process, required documents, and countries where you can obtain a second citizenship, visit our blog. And get your passport as soon as possible!