Global mobility is once again a primary focus for high net worth people, with economic and social shifts throughout the world sparking legitimate concerns regarding safety, financial stability, and generational security. Even Americans have started to consider dual citizenship through second passports and citizenship by investment programs.
Second citizenship experts have taken a deep dive into the world of dual citizenship and second passports and provided insight into how and why you should take advantage of this second passport program.
Benefits of a Second Passport
While it may seem like interest in second passports is purely a financial or business decision, the truth is that high net worth individuals have increasing concerns about safety in their home country. As political and social unrest simmer throughout the globe, investors are seeking pathways to a more secure environment, both socially and economically.
How to Get A Second Passport
Traditional routes to a second passport include generational inheritance or ancestry privileges, citizenship by marriage, and naturalization. These routes are unreliable, and for most people, unachievable. The most reliable and fastest pathway to a second passport is through citizenship by investment program.
Citizenship by investment, also called economic citizenship, is a program that allows a foreign investor to make a financial contribution to an approved real estate project that is sponsored by the government. In return, the government grants citizenship to the investor and in some cases the investor’s immediate family. The amount of investment required varies from country to country, with the most accessible and affordable programs currently being offered throughout the Caribbean.