Are you a high-net-worth individual?

Then you are probably considering getting a second passport.

And it makes total sense.

With a second passport at hand, you can dramatically increase your personal and economic freedom.

Who wouldn’t want that? Having one of the best dual passport combinations – or even multiple citizenships – is an important step to internationalizing your life so that no single government ‘owns’ you.

Looking after your growing net worth, tending to your business, and balancing family life all at the same time is hard work. You don’t need to worry about what happens if there is civil unrest or if your government suddenly decides to raise the tax rates.

Not if you have ‘citizenship insurance’. Not if you have a second valid passport.

A second passport will ensure that you reap all the benefits – tax optimization, improved frequent international travel potential, protection against controlling governments, and more – counterbalanced by an acceptable (to you) level of risk.

REASONS TO BECOME A DUAL CITIZEN

  Tax Benefits

Merely having a second citizenship won’t necessarily help avoid taxation, but it will give you the freedom to live a tax-optimized life. Live low-tax or even tax-free with a passport of convenience.

  Freedom of Movement

Having a second passport allows you travel access to more countries, as well as peace of mind. It also grants the freedom to live, work, or go to school there.

  A "Plan B"

Second citizenship means you have a guaranteed place to go if things change, even if you don’t plan to move to a different country with your new passport now. You’ll never be left stranded if you wish to leave home.

THE FIVE WAYS TO BECOME A CITIZEN

1.

Citizenship by Descent

If you’re lucky, you may be eligible for a second passport right now – without even knowing it!

Certain countries offer ancestral citizenship to those who can prove family ties to the country.

This means you may be able to hit the dual citizenship jackpot.

Some people can even claim multiple second citizenships using the ancestral method.

Our team has helped people get citizenship by way of descent in the United Kingdom, Canada, New Zealand, Lithuania, Poland, Mexico, and Vietnam.

We could help you next, particularly if you have a heritage in Israel, Ireland, Brazil, Austria, Italy, Hungary, or Spain!

2.

Citizenship by Marriage

If you’re married or you’re planning to tie the knot, then you’re in luck. Citizenship by marriage is almost a guarantee.

We’re not saying you should marry for citizenship, but if you are already in the process of saying “I do”, why not consider citizenship too?

Countries like France and the United States will fast-track the naturalization timeline for spouses to obtain citizenship.

And then there are places, such as Cape Verde, where you can get married and immediately become a citizen.

3.

Citizenship by Investment

Also called ‘economic citizenship,’ this is usually the fastest and easiest way to get a second passport.

The process is straightforward: a country will confer citizenship upon you in exchange for an investment in the country or a purchase of the real estate.

It will usually take about six months to get this done. So, don’t buy into one of the stories by the scam artists who promise to get you your passport in 60 days – it simply isn’t possible.

There normally isn’t a residency requirement. In fact, sometimes you don’t even need to visit!

Several countries offer economic citizenship programs ‘off the rack,’ with several others offering more tailored solutions.

In general, the prices for economic citizenship programs go up over time, with an occasional new player offering a lower price.

A common question we get asked here at Nomad Capitalist is: ‘Are economic citizenship programs worth it?’

They can be, especially if you need fast citizenship.

However, there are far cheaper ways to get your second citizenship if you’re willing to be patient or have a little luck on your side.

Here’s where you can get citizenship by way of investing:

    🇲🇹 Malta citizenship by investment

    🇻🇺 Vanuatu citizenship by investment

    🇲🇪 Montenegro citizenship by investment

    🇯🇴 Jordan citizenship by investment

    🇪🇬 Egypt citizenship by investment

    🇹🇷 Turkish citizenship by invesment

    🇰🇳 St. Kitts and Nevis citizenship by investment

    🇩🇲 Dominica citizenship by investment

    🇦🇬 Antigua and Barbuda citizenship by investment

    🇬🇩 Grenada citizenship by investment

    🇱🇨 St. Lucia citizenship by investment

4.

‘Fast-track naturalization’

This is a bit of a curve ball because there are no hard-cut rules to granting fast-track citizenship. Often referred to as citizenship by exception, the decision to grant fast-track citizenship is often at the discretion of the head of state, be it a president or a sultan.

A good example of fast-track naturalization is the Middle East. The countries there often want to recruit promising athletes from Africa to compete for them.

So, they’ll hand them a passport and grant them Qatari citizenship, for instance, and off they go to the Olympic games.

It has also happened in Asia where they have naturalized people who are extremely skilled in arts.

And a final opportunity presents itself to those who are willing to make a substantial investment (that will most likely be returned, often with a profit) in a country.

Beware: this isn’t equal to paying a guy in a trench coat to ‘put you in the system’ and spew out a passport.

We mean following a legal and constitutional process in which you can be granted citizenship based on special circumstances that are set out by the government.

5.

Citizenship by Naturalization

This is where you spend time on the ground, build up legal residence time in another country, and eventually apply for citizenship as the ‘payoff’.

The same way you’ve seen immigrants attending ceremonies to become naturalized as American/British/Canadian/etc. citizens, you can become a naturalized citizen of another country.

If you’re willing to be patient, that is.

It’s a process that can take as little as two years or as many as 30. This will depend on the country where you’re seeking your second passport.

Some of these second passport countries, like Canada, have strict requirements for physical presence in the country. For others, you may only need to set foot in the country once or twice a year.

Fun fact: Tina Turner had to live in Switzerland for at least twelve years before being eligible for citizenship there.

And, sometimes, there are cultural, language, and historical knowledge exams too, not to mention that some second passport countries will require you to relinquish any other citizenship(s) that you might have.