A lot of people do not know that they can obtain a second passport through means that do not involve marrying someone. Many countries offer second passports for investors and anyone who simply wants more options in terms of where they live, the taxes they pay and the passports they carry. Here are some reasons why more people are grabbing this option and why obtaining a second citizenship may also be a great choice for you.
Benefits Offered by a Second Passport
A second passport offers the holder doubled perks and advantages especially when it comes to economic and political options. For example, a second passport may lessen travel restrictions, offer more privacy since travels taken using one passport will not be reflected in other passports that you own, and you have a fallback in case one passport gets stolen. Another reason to get a second passport is that the passport allows holders to reside and enjoy the benefits of citizenship offered by that country. It allows the holder, for example, to engage in business and enjoy the same state-granted privileges given to residents.
A second passport allows the holder to maintain a second residence in another country, allowing him or her to expand his ownership of property. For those who want to escape high taxes in their home countries, a second passport can help in expatriation so that the holder permanently gives up his old citizenship to become the citizen of a new country. If you want to give your family the best options in education and health care, a second citizenship can help you achieve a better life for the family when you obtain citizenship in one of the best cities in the world. For those living in countries with volatile political situations, a second passport can be a great help when political turmoil escalates and there is a need to flee to another country for safety.
What is the St. Kitts & Nevis Citizenship Program
The St. Kitts & Nevis Program is a great example of a second passport program tailored to offer the best advantages to anyone wiling to obtain it, as long as he or she possesses the qualifications required by law. The program focuses on using citizenship as an incentive for foreign investors to put money in the country. More investments naturally creates more jobs and a better economic outlook for the tiny island state. It is available to anyone willing to invest in the state, either by donation or by investing in real estate.
There are two ways to obtain citizenship in St. Kitts & Nevis. One is by donating $250,000 to the Sugar Industry Diversification Foundation, and the second option is to invest in Nevis real estate or St. Kitts real estate. Anyone looking to enjoy a second citizenship has the option of becoming an investor in St. Kitts & Nevis real estate for $400,000.
The program offers lifetime citizenship for the applicant as well as his family members, with the option to choose dual citizenship without the requirement of notifying the applicant’s home country. They also get to enjoy tax free status for foreign income, capital gains, gift tax and other types of taxes. Commonwealth citizens receive preferential treatment in the United Kingdom, such as no visa restrictions for children who want to study in the UK. With perks like no personal income tax, the option to have multiple citizenship and visa-free access to 130 territories, this citizenship program is one of the most attractive in the world.