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Second Citizenship & Passport: A Luxury or a Necessity?

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In an era of increased political and economic instability, acquiring a second citizenship and passport has become a necessity for many people around the globe. Nationals of underprivileged countries, and particularly those hailing from countries where the ongoing political conflict is taking center stage have been suffering from great limitations in recent years due to their nationalities. The demand for second citizenship and passports rose significantly after the increased political turmoil that certain parts of the Middle East have been witnessing in recent years. Having a reputable passport and a respected citizenship are no longer considered luxuries of life, but rather much needed assets.

Immigration might be the solution for some. However, for many it is not. What if the person is an established businessman, investor, or a senior employee who cannot migrate to a country that offers the increased security, travel flexibility, and benefits that he/she is seeking? What if that person doesn’t want to relocate and leave everything behind including their business, investment, home, and career with the hope of having a “better future”?

Thanks to the Citizenship by Investment programs, these individuals and their families can now get that same sense of security and travel flexibility they want without sacrificing their businesses and careers in their home countries or countries of residence to start all over again in a foreign country.

Some countries have introduced such programs to increase the amount of investments made into that country in exchange for citizenship and passport to qualified applicants and investors who successfully pass the government’s due diligence process. These programs were established through legal parliamentary frameworks where such programs are now embedded in these countries’ naturalization laws.

The most popular programs are for some beautiful Caribbean countries such as the Commonwealth of Dominica, Grenada, St. Kitts & Nevis, and Antigua & Barbuda, while Cyprus and Malta have similar but a bit more exclusive programs in Europe. Most of these programs require little to no residency which makes this a great proposition for those who do not want to relocate.

A thorough application and due diligence process is what mainly allowed the said governments to maintain the respect, strength, and credibility of their citizenship by investment programs throughout the years. Couple of these programs even date back to the 1980s and 90s; the period that saw the inception of the first two citizenship by investment programs namely for St. Kitts & Nevis and the Commonwealth of Dominica.

To end this thought, we believe that becoming a global citizen is the essence of living in today’s global community. Whether you want a second citizenship and passport for visa-free travel or to simply secure your future and the future of your family, rest assured that this will be the smartest investment decision you have ever made.

To learn how Citizenship Bay can help you and your family achieve citizenship or residency by investment in one of our global programs, please contact us today.

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