Whether you are an adventurous traveler or a jet-setter with big entrepreneurial dreams, there must be a country you would like to visit more often. If it weren’t that difficult to obtain a visa, people would just come and go to other countries as they please. Obtaining a second passport is a great way to avoid going through the visa application process and it allows you to make travel plans freely. To obtain a passport from another country is a difficult process yet it has proven to be extremely beneficial. A lot of European and Caribbean countries are known for their feasible second passport programs to attract investment in their countries. A proven citizenship agency can help you acquire a Caribbean or European second passport Dubai. Listed below are five benefits that come with an alternative passport.
Tax-free
Countries like the Caribbean are known for their low tax rates. It is important to note that tax rates depend on the country of second and first citizenship. The candidates that do have dual nationality should find out about the laws regarding taxes if their goal is to avoid paying taxes. Even with dual citizenship, there are countries that will require you to pay taxes on overseas properties and investments.
Investment opportunity
You take the good with the bad, right? Even though you may need to pay taxes, it opens up an opportunity for you to invest your money in another country. A secondary passport allows you to make use of lucrative business opportunities even though you are still a citizen of another country. The rules in some countries are strict with regard to overseas investment, yet with a second passport, it is easily possible.
Lifestyle and generational benefits
Visa-free travel is an important asset, not only to you but to your entire family. The second passport that you obtain from another country can in some cases be passed on to your children. This allows your offspring unlimited visa-free travels along with their own dual passport lifestyle.
Political and social instability
We have all heard the stories and read the news, fleeing to another country until the dust settles is not a bad idea. In the event of a recession or a war, which will create massive instability, a second passport allows you to move to another country. A second passport permits you to relocate and apply for a job in another country without applying for a worker’s visa before-hand.
Visa-free travels
Citizens of Portugal can travel to more than 160 countries without applying for a visa. While people with Dominican passports can visit more than 130 countries like the UK & Schengen. A second passport is great for last minute travels and unplanned family visits.