Second Citizenship: What’s The Significance Of Plan A, B, & C?

September 27, 2021 | Second Citizenship |

When times are tough, and everything is in disarray, people often think about their current state of affairs and how they have affected financial standings. Moreover, this is one of the primary reasons behind people applying for second passports or second citizenship. Meanwhile, dual citizenship is increasingly becoming a general term amongst the elite. This is because the world is becoming smaller with each passing day and even more challenging to travel. In other words, the world is protected with numerous borders, disallowing an individual to roam freely. However, obtaining a second citizenship through investment programs can knock such barriers with incredible ease.

This write-up talks about how enrolling in a second citizenship program can enhance your life for good and how it affects every aspect of your global standing. But, before moving to Plan A, B, and C, let’s learn about second citizenship.

What Is Second Citizenship?  

Second citizenship, as the term implies, simply means becoming a citizen of another country. Several countries allow dual citizenship, meaning an individual can hold citizenship passports and certificates of two countries. This has allowed the elite members of the society to use such laws to their benefit, developing and creating citizenship portfolios. By acquiring another passport or citizenship, you can become a national of another nation. Moreover, you need to know, nations allowing dual citizenships typically will enable you to hold more passports. This not only creates an opportunity to take advantage of the rule but also benefits while becoming a global citizen. 

However, how does an individual get into this? This is relatively easy; CBI or citizenship by investment. Several nations tend to offer investors an option to acquire their passport or residency by investment in pre-defined ventures and projects authorized by their respective governments. The most illustrious examples of these programs are available in the Caribbean Sea. Dominica, Antigua & Barbuda, St. Kitt & Nevis, Grenada, and St. Lucia can offer program investors the chance to acquire commonwealth citizenship through real estate investments or donating government development funds, starting at $100,000.

Moving on, those with dual citizenship can count themselves luckier, having more options for refuge and travel. But, for such enthusiasts, dual residency is not just a way of contingency but a modern way of life. The second passport or citizenship is your plan A, B, and C. Here’s why.

Plan A: Mobility Score

Once you acquire another residency or citizenship, your mobility score gets better on a global level. This enhancement isn’t an additional benefit but a tool to utilize with effect. For instance, let’s take the case of St. Kitts & Nevis. Theirs is the twenty-fourth best passport worldwide, granting access to more than 155 destinations, including the United Kingdom, EU, Singapore, Hong Kong, and many more. And, guess what? Obtaining their passport can open up the most economically vital, exciting destinations.

Plan B: Financial Freedom

Since global mobility has dominated the headline, another significant advantage of holding a second passport is financial freedom. Becoming financially sovereign is an ideal method to enhance and safeguard your wealth. 

When you make considerable investments without specific government interference, you do not indulge in paying tax on your terms, safeguard wealth in secure destinations, move finances around without any fret, optimize businesses globally, and conduct smooth international banking.

Plan C: Contingency Asset

For any individual, it’s an instinct to safeguard and protect ourselves and families and whatever we own. Second, citizenship allows you to defend what you love, allowing you to adhere to a contingency plan, but in a positive way altogether.

Who Can Assist?

Don’t look anywhere else. We at Flying Colour have experienced advisors with in-depth migration solution knowledge. When it comes to immigration services, visa consultancy, skilled workers, or even student visa programs, we can help.

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