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Second citizenship may serve several needs:
Tax planning
Investment purposes
Visa free travel
Securing assets
Naturalization in other countries (EU, Canada).
Due to political circumstances, citizens of certain countries find it difficult to travel abroad and are confronted with strict visa requirements each time they want to enter a foreign country. On the other hand, nationals whose passport usually allow them easy access to other countries can find it impossible to obtain visas due to temporary travel restrictions during trade sanctions and other geopolitical disturbances. And while a required visa may well be granted to you, it is always a very tiresome procedure and can be a major factor of delay for your travels.
There is a growing tendency in important countries to follow the lead of the United States in taxing non-resident citizens. Alternative citizenship is therefore increasingly important as a powerful tool for truly international tax planning. As a national of two different States you also enjoy extra privacy in banking and investment.
Most importantly perhaps, citizenship and a passport from a small, peaceful country can save your life when travelling and in times of political unrest, civil war, terrorism, and other delicate situations. For good reasons, many international businessmen and important personalities who are active worldwide consider an alternative passport as the best life insurance one can buy.
In an unsettled, ever-changing world, acquiring a second citizenship is a wise decision and an investment in the future. Your citizenship of choice is for life and your spouse and children can be included. And there is usually no need to give up your present nationality while you enjoy the benefits of your second passport.
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