Benefits of Second Citizenship

In most of the world countries citizenship can be gained by birth, by decent, through marriage and naturalization but there are a few countries which grant citizenship to successful candidates through special programs which are popularly known as economic citizenship programs. This simply means that by making an investment in a business project, real estate project or any project set aside by the authorities of the country makes a candidate eligible for citizenship of that country. The countries with such citizenship program include Dominica, St Kitts and Nevis and the Republic of Panama.

The second citizenship programs in the above mentioned countries have many benefits. For starter none of the countries mentioned force people to renounce their present citizenship status with any other country. These countries allow for dual citizenship. Upon gaining citizenship of Dominica and St Kitts and Nevis the citizen has all the rights and privileges of the country just like the rest of its citizens and is not forced to reside in the country or is obliged to invest in any business in the country. Anything the new citizen chooses to do will be of his or her own accord.

One of the most common reasons why people of the world’s developed countries opt for second citizenship in countries like Dominica, Panama and St Kitts and Nevis is to avoid the heavy taxation which is prevalent in European countries and the United States. There is much less taxation in countries such as Dominica and St Kitts where there is no inheritance or capital gains tax. In fact Dominica., St Kitts and Nevis and Panama are all tax havens which mean that incomes generated outside of these countries have no form of local taxation applied to them.

The Benefits of second citizenship include the ability as a holder of owning a second passport to travel to other countries which might have been made difficult or impossible to do with their previous nationality or passport. The holders of a Dominica passport for example can travel visa free to many of the world’s countries including the member states of the commonwealth, Switzerland and Sweden amongst many other countries.

Having a second citizenship or a second passport is not at all a bad idea for persons who are present citizens of unstable countries which are plagued by unrest and political instability. Always knowing that there is a backup plan or alternative just takes the stress of not knowing where to run to away. It is well known that just by being a citizen of certain countries makes you an instant target for terrorism these days. Becoming a second citizen to another country can remove that negativity and the fear that comes with it.

The benefits of second citizenship are many. The second citizenship options which are available are all legally recognized ion the countries in the countries which are giving it out. The application process for citizenship is done meticulously in an effort to keep criminals at bay.

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