Christopher ZeniosHere are just some of the many reasons as to why this trend is influencing so many HNWI to acquire a second passport.
Visa-Free Travel
HNWI have the ability to travel the world but may face issues in some countries due to visas. With a second passport, the world can be opened to hassle-free travel, new cultures, and experiences. One example is the Cyprus Investment Program, with a Cypriot passport it is possible to travel to 173 countries visa-free, benefits of an EU passport are worth the investment. For those who need to conduct international business visa-free travel can benefit you greatly as depending on what passport you chose vias-free access to China, USA, Russia, and Europe is available.
Education
As dual citizenship grants access to new parts of the globe it also paves the way for some of the best education in the world. Whether for yourself or for your children you can ensure that the world’s universities are available. Once an EU citizenship is obtained the opportunity to attend renowned universities such as Oxford, the Sorbonne, or the University of Bologna is possible.
Property
Dual citizenship allows a person to legally hold property in both countries that they hold passports for. This is ideal for those who wish to travel between two countries instead of overspending on temporary accommodation. Depending on what citizenship you chose it will also be possible to buy your dream home. Many Mediterranean and Caribbean citizenships are available, these locations have numerous luxury villas that benefit from stunning views.
Security
Some that are looking at obtaining dual citizenship may come from countries that face potential danger. Whether from persecutions, social-political unrest or unstable sanctions having dual citizenship allows a person to have peace of mind that no matter what happens in one country they always have guaranteed access and safety in the other for themselves and family.
Tax
Many countries offering citizenship investment programs purposely provide favourable tax to entice businesses to base themselves in the country. This is ideal for business owners as they can benefit from low tax systems and regulatory environments that may not be available in other countries.
Healthcare
Like travel and education healthcare is also made available. Citizenship is possible in a country that provides high standards of healthcare. The ability to travel to other health facilities that provide the latest treatments is also available. Those who have dual nationality will have peace of mind that the world’s best health care is available or for those who are older they can be assured that they will receive a high level of care and treatment.
Investment
Dual citizenship opens the door to an abundance of investment opportunities. It allows you to maintain investments in both countries and gain access to new markets, choosing locations that are favourable on return, giving HNWI the platform for business expansion on a global scale.
Disclaimer: HighWorthCitizen.com is not intended to provide legal, tax or investment advice, and nothing on HighWorthCitizen.com should be construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any asset by HighWorthCitizen.com or any third party. You alone are solely responsible for determining whether any investment, asset or strategy or any other product or service, is appropriate or suitable for you based on your investment objectives and personal and financial situation. You should consult an attorney or tax professional regarding your specific legal or tax situation.
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