Second passport is a 2nd citizenship in a new country. A dual citizenship through second passport gives you extra privacy, visa free travel freedom, ease of doing business and a life saver during uncertain times. Second citizenship industry is a $10 billion dollar industry most popular among wealthy families, investors and entrepreneurs.
International Monetary Fund reported A suitcase filled with multiple passports? That’s not just the stuff of spy movies anymore. Increasingly, a growing number of high-net worth individuals are looking to have a passport portfolio. This has led to a proliferation of so-called citizenship-by-investment or economic citizenship programs that allow individuals from all over the world to legitimately acquire passports.
The rapid growth of private wealth, especially in emerging market economies, has led to a significant increase in affluent people interested in greater global mobility and fewer travel obstacles posed by visa restrictions, which became increasingly burdensome after the terrorist attacks of September 11, 2001. This prompted a recent proliferation of so-called citizenship-by-investment or economic citizenship programs, which allow high-net-worth people from developing or emerging economy countries to legitimately acquire passports that facilitate international travel says IMF – A Passport for Convenience.
Why buy a 2nd passport?
- Experience best living standards immigrating to a new country.
- Freedom of visa free travel to European countries, United Kingdom and other countries.
- International tax planning
- Ease of doing business without restrictions.
- Second citizenship passed on to future family generations.
- Opportunity to invest into foreign real estate markets.
2nd passports can be legally obtained through Citizenship by investment (CBI) running in 9 countries. The estimated costs for these second passports are no less than $100,000.
Saint Lucia |
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Dominica
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Grenada |
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Antigua & Barbuda |
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St Kitts and Nevis |
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Malta |
€900,000 (contribution plus stocks or bond) |
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Cyprus |
€2,000,000 in Real estate or Business or Bonds |
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$200,000 (one time) |
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