There has been a rapid incline in second citizenship programs offered by many countries. However, you may wonder why there is a need to obtain a second citizenship when you can simply live in one country and tour the rest.
Therefore, we thought, “Why not ask our clientele of over 200 families about this?”
Upon regular conversations with them, we discovered some intriguing and common motivations that drive individuals toward this significant decision.
Let’s dive into the world of second citizenship and explore why high and ultra-net worth individuals are so gung-ho about gaining a second passport.
Access to European Union
While helping our clients in deciding which second citizenship programs they would prefer?
Over 60% of clients showed high interest in EU access.
For Instance, Portugal is now at 7th rank in the Global Peace Index 2023 offering stability and security for your family that can significantly enhance your quality of life.
Here are some benefits you get with an EU Residency:
1. Freedom of Movement: As an EU resident, you can move freely within the Schengen territory, comprising 27 European countries. This simplifies travel, tourism, and business activities across borders.
2. Access to World-Class Healthcare: Many EU countries offer top-tier, affordable healthcare services for residents and their families, ensuring quality care without hefty costs.
3. Education: EU residents typically have access to excellent educational institutions, from primary schools to universities, in addition to reduced or subsidized costs.
4. Work and Business Opportunities: EU residency can open doors to a wide range of job prospects, and so fostering professional growth and cross-border business endeavours.
5. Legal Protections: EU countries uphold strong legal frameworks that protect residents’ rights, as a result, this ensures fairness and equality under the law.
6. Cultural Enrichment: Europe is rich in culture, history, and art. As an EU resident, you can immerse yourself in this diversity and explore numerous heritage sites, museums, and festivals.
7. Residency for Family: Many EU countries allow family members to join the primary residence, thus fostering family unity.
8. Tax Benefits: Some EU countries offer advantageous tax regimes, potentially reducing your tax burden.
9. Visa-Free Travel: As an EU resident, you may enjoy visa-free travel to various countries worldwide, further simplifying your international journeys. Access to over 150+ countries including USA & UK.
It’s essential to note that the procedure of citizenship by investment program can vary from one EU country to another. Hence, it is important to have some guidance on second citizenship instead of the hassle of researching on your own.
Second Citizenship boosts passport ranking
Having a passport that falls short of the global rankings can be limiting. It might restrict your travel options and obstruct your access to certain countries.
Acquiring second citizenship often means upgrading to a passport with higher global mobility, which means you can open the doors to endless possibilities and expand your global footprint
78% of our clients report a significant increase in visa-free destinations after obtaining a second citizenship.
Better Education Facilities
For many families, their children’s future education is the main motivation to obtain citizenship in a country ensuring quality education for their children.
Out of our clients, 42% of them had educational opportunities as a primary motivation for seeking these investment programs.
A client we assisted in obtaining Canadian citizenship, as a result, he’s not only benefited from being able to send his daughter to one of Canada’s most prestigious universities but also be eligible for local tuition fees.
In Canada, International tuition fees cost an average of $36,100, however, for Canadian citizens and PR holders, tuition fees are less than a fifth of this price, averaging around $6,900.
A second citizenship can grant access to top-tier educational institutions around the world, enabling your children to receive the best possible education and setting them up for success.
Retirement Plan
Imagine your retirement, spending your days in the charm of mountain villages or beachfront walks watching the sunset over the tranquil sea.
A second citizenship offers you the flexibility to retire in a country with a climate, lifestyle, and cost of living that align with your preferences and financial situation.
Granting a way to ensure your golden years are exactly as you envision them.
35% of our clients obtained second citizenship with an eye on planning for retirement, therefore it is a cornerstone of financial security.
Family Reunification
In a world that often keeps families separated by borders, a second citizenship can be the key to reuniting with their families.
Moreover, 27% of our clients pursued second citizenship to streamline visa processes, eliminate bureaucratic hurdles, and bring their loved ones together.
Plan-B
In today’s unpredictable global landscape, having a backup plan is just good sense.
No one wants to live in a potential turmoil that risks their future and that of their loved ones, thus these programs act as a backup plan, and you know! “A Backup plan never hurts”.
A second citizenship assures a secure second home, thus safeguarding your assets and financial security in times of economic instability, while also extending social and personal safety measures.
Access to superior education and healthcare, global mobility, and legacy planning are additional benefits.
45% of our clients believe second citizenship serves as a robust and strategic safety net for a more secure and prosperous future life.
Conclusion
In conclusion, the concept of “Second Citizenship” is like having a golden ticket to explore the world, dodge certain limitations, and maybe even save some taxes along the way.
It isn’t just a legal status, it’s a gateway to a world of opportunities and a safeguard for your future.
Whether for travel, education, retirement, family, or peace of mind, the motivations are diverse, but the benefits are universal.
Ready to explore the world with a second citizenship? Get in touch with us today and let’s embark on this transformative journey together.