Dual Citizenship for the Rich is becoming a Trend

Obtaining citizenships by Investment is a smart business move with a variety of benefits for the individuals who possess it.

What is dual citizenship and how to obtain it?

A person who has dual citizenship is considered to be a citizen of two different countries at the same time. There are different ways to acquire second citizenship but the most popular one in the business sector is citizenship by investment.

Certain countries around the world grant citizenship to high net worth individuals who are willing to invest substantial amounts, in an effort to attract foreign investors. The process is fast and usually doesn’t even require the physical presence of the investor.

Advantages of dual citizenship

One of the most popular advantages of dual citizenship is the two passports that each person is entitled to possess. Wealthy investors and entrepreneurs who have regular business trips can get themselves a second passport from a country that allows them to travel without a visa to various destinations.

Coming from an oppressed country is another reason for a wealthy investor to seek a dual nationality. Laws and regulations can change at any time in countries governed by authoritative regimes creating a feeling of uncertainty and even a hostile environment towards wealthy families. A second passport provides an alternative and a feeling of freedom.

Having dual citizenship is also a good opportunity for individuals to diversify their investments or even use each country’s tax regime to their advantage.

Countries restricting or prohibiting dual nationality

There are certain countries that simply do not recognise their citizens’ second nationality but there also others that completely prohibit it. In countries such as Austria, China, India and the Netherlands, obtaining another citizenship results to an automatic voidance of their primary citizenship.

Most popular countries for citizenship by investment

According to immigration statistics, Cyprus and Malta are the top two countries that attract the most citizenship by investment requests. These two countries are very attractive to international investors for their favourable tax regimes and their efficient banking services. Their location is also optimal as they are positioned between Europe, Asia and Africa making them the perfect place to facilitate international headquarters.