The Benefits of a Second Passport
The Benefits of a Second Passport
With a lot of determination and financial means, it is fairly easy to get a second passport in another country. Dual citizenship entitles you to the second passport. The second passport offers many benefits including; asset protection, reduction in taxes, and physical security. In certain situations the second passport is often a lifesaving experience. The second passport offers a more flexible lifestyle. The passport offers additional freedom. It’s nice to know that you’re not at the mercy of just one country. Second passports saved thousands of lives in World War II. Many Jews in Germany were able to escape by using a second passport. A second passport is beneficial if an individual is looking at incarceration, loss of assets, or frozen bank accounts.
Economic citizenship is the fastest method to obtain a second passport. This is the considered the most expensive way to get the second passport. This option is essentially an investment program. Generally you invest in real estate in the country providing the second passport. Sometimes local governments will require you to invest in other local projects. The country of St. Kitts provides secondary passports. The typical cost involves a $350,000 investment in real estate or a $200,000 investment in the Industry Diversification Project. There are less expensive options to receive a second passport. The naturalization process allows you to receive a second passport. This process takes time; it may take up to twelve years to become a naturalized citizen. If your parents or grandparents originated in another country, you may be entitled to a second passport. For more details click on buy second passport.
