On of the most important benefits of having a second passport are the increased financial opportunities it affords to people. There is a wide variety of reasons why a person may desire a second passport and the first of these, is increased financial opportunity. Becoming a citizenship of another country allows you to conduct business and take advantage of financial opportunities, within that country.Avoiding negative association. When traveling abroad it is sometimes advantageous not to be associated with the country of your citizenship. For example, Americans and Israelis traveling in the Middle East usually prefer to travel under the proverbial radar, and having a second passport is one way to facilitate this. In other circumstances people may wish not to be associated with the actions of their home government, and the best way to avoid negative association is to secure citizenship and a second passport of another country.
Many passports have limitations when it comes to visa free access to foreign countries. For people holding such passports, a second passport helps overcome this problem by offering visa free entry to a greater number of countries. Indeed, the majority of countries which allow purchase of a second passport have visa free travel agreements with more than 140 countries.
In his book “Nineteen Eighty Four” George Orwell created a fictional character named “Big Brother’ who was the head of an invasive totalitarian government, that controlled every aspect of its citizens lives. While the Orwellian scenario is an extreme, many people in todays’ world can relate to it and are rebelling against government control. For people who are not comfortable with the government policies of their citizenship country a second citizenship is an invaluable option.
For individuals who choose to renounce citizenship of their home country, a new passport and citizenship of another country will be needed. In the past renouncing citizenship was somewhat of a rarity, but in recent times it has become much more common. For example over the last decade more than 5,000 Americans renounced their citizenship and become citizens of another country.
The majority of citizenship by investment programs offer the option of citizenship for the entire family. Combine this with the fact that citizenship in nearly all countries is hereditary, and you have a situation where individuals, their family and even future generations of family, will be eligible for a second citizenship.
The predominant reason people choose to invest in second citizenship programs, is because they are looking to take advantage of associated tax benefits. Indeed, citizenship by investment is a very common means of tax minimization.
Visit our citizenship page to learn more about getting Vanuatu citizenship and passports. Visit the Vanuatu government website.
