The Benefits of Having More Than One Citizenship

Having many citizenships provides more travel opportunities

Is there a limit to the number of citizenships a person can have? This question isn’t simple to answer, as the number of citizenships allowed depends entirely on the laws of your birth country.

Many countries allow their citizens to have dual or multiple citizenships. If you’re interested in learning the benefits of dual citizenship, Premier Consultancy Thailand can help you learn more about countries offering citizenship and the requirements and processes of application. We’re also offering this citizenship by investment country comparison to help you make the right choice for your family.

Enjoy the Benefits of Dual Citizenship

The benefits of carrying two or more passports include:

Greater Global Mobility

In the 2020s, dual citizenship is becoming a preferred method for high-net-worth individuals to grow their wealth and protect their assets from growing political or economic instability in their birth countries.

Countries offering Citizenship by Investment (CBI) programmes often highlight the strength of their passports. Most of these countries’ passports provide visa-free or visa-on-arrival access to over 100 countries. They list and highlight the economically strong countries that share mutual passport ties with their government.

The freedom to travel for face-to-face meetings, view potential real estate investments, and make personal connections is essential for active investors. Having several citizenships can increase a person’s potential investment opportunities.

Personal Safety and Political Stability

As mentioned earlier, political and economic instability is seen as a significant threat to a family’s welfare in certain parts of the world.

Dual citizenship is seen as a legal escape mechanism that your family can use to avoid becoming trapped in personal danger or having your assets taken away unlawfully by a failing state.

Avoiding military conscription is also a valid reason to seek dual citizenship.

Educational Opportunities

Families with school-age children also value dual and multiple citizenship for access to some of the world’s best education opportunities. One of a parent’s greatest tragedies is knowing that the non-recognition of their passport and birth citizenship is limiting their child’s educational and intellectual potential.

Wealth Management and Taxes

Effective wealth management and avoiding unfair taxation are seen as two of the primary reasons for establishing CBI programmes. Many investors view their ability to travel freely across borders as crucial to success.

Pathways to Dual Citizenship

The most popular avenues of obtaining another passport include:

Descent (Family Ties)

In some countries, having a foreign person closely related to a citizen also entitles the foreign person to obtain citizenship. The regulations differ depending on the country.

Naturalisation

Most countries offer a naturalisation process as a pathway to citizenship. The process helps the country increase its talented workforce, encourages investment and education, and increases its viability as a positive place to invest and live.

Marriage

Marriage to a person holding citizenship in a peaceful and stable nation has long been viewed as one of the reasons why a family can stay together when one spouse’s country is suffering instability

Citizenship by investment

A citizenship by investment (CBI) programme is increasingly seen as one avenue to citizenship that tangibly benefits both the country and the applicant. The government gets an economic boost that benefits its citizens in healthcare, education, and infrastructure. The applicant receives several benefits and the freedom to choose the ones they exercise.

Contact Premier Consultancy Thailand

Premier Consultancy Thailand is an immigration and tax consultancy representing many countries worldwide, offering CBI programmes. We can help you find the ideal country to suit your budget, family needs, and lifestyle. We also represent countries with a Residency by Investment (RBI) programme. The countries include:

CBI Programme Countries

Dominica
St. Lucia
St. Kitts and Nevis
Antigua and Barbuda
Grenada
Vanuatu
Turkey
Cambodia

RBI Programme Countries

Cyprus
Greece
Portugal
Hungary
Malta
Cambodia
UAE

If you want to investigate the specific rules and investment regulations of the CBI or CBR for different countries, contact Premier Consultancy Thailand. We’ll provide expert services and due diligence to help you make the right choice for your family. Premier Consultancy Thailand can also help you gain more personal and business freedom by obtaining a second citizenship.

References: