CITIZENSHIP BY INVESTMENT BLOG

The benefits of a second citizenship

October 2019: What are the benefits of a second citizenship?

Answer: In just the past few years several countries have launched brand new immigration by investment programs to attract High Net Worth Individuals. The goal is to offer wealthy individuals an incentive to invest in these countries' economies.

Examples for popular programs that can quickly lead to EU citizenship include Bulgaria (from EUR 270,000), Malta (from EUR 800,000), and Cyprus (from EUR 2 million). Processing times range from 90 - 180 days (Cyprus) to 6 - 18 months (Malta and Bulgaria).

Dual Citizenship Benefits
The applicants that these programs are targeting include international business executives, investors, and important persons who consider a second (or alternative) citizenship and passport a powerful tool for international tax planning or as a safety net should the living conditions at home become unbearable.

Because citizenship by investment programs frequently carry minimal residency requirements, dual citizenship allows applicants to remain living at home as long as desired.

Further, a second citizenship can mean visa-free travel, thus allowing the investor to avoid the bureaucracy associated with applying for visas when traveling abroad.

Obtaining a second citizenship can also offer investment and business opportunities, specifically for companies seeking to enter the EU, which might otherwise be difficult or impossible to pursue.

Because the main applicant is usually allowed to include his/her spouse, children, and sometimes even parents on a single application, a second citizenship can also translate into a better quality of life for the family, including better healthcare and a better education for the applicant’s children.

Last, but not least, savvy entrepreneurs, business owners, and family offices may seek a dual (or alternative) citizenship for advantageous tax planning and wealth management purposes.

Although many countries have relaxed dual citizenship rules, some still impose restrictions; please contact us and we will check your country’s policies. 

Because immigration by investment programs can change over time please contact us to speak with an advisor or to receive a preliminary quotation. The information provided in this blog post is intended for educational and informational purposes only. It should not be construed as legal or financial advice.

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Click here for the Malta citizenship by investment program. Click here for the Malta residency programs.

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