It is a dream come true for most people to buy a second passport. In addition to providing freedom and stability, it offers immeasurable opportunities for those who possess it. Many people are born with the right to multiple passports, but others acquire passports later in life, sometimes through marriage or naturalization. However, citizenship by investment is one of the best ways to get a second passport. How to get a second passport legally and make the most of second citizenship is covered in this guide.
Benefits of owning another passport
The benefits of having another passport are numerous. Here are some of the top benefits, ranging from increased global mobility to more freedom of choice.
More freedom
If you could travel anywhere in the world without a visa, or move and work freely in a number of countries, that would be wonderful. All these benefits can be obtained with a second travel document depending on the country.
Global mobility opportunities
There are countless opportunities that come with having a second citizenship. When it comes to investment or travel, a second passport can enhance your options and give you access to better education and healthcare.
Stability with a second passport
As Brexit and Hong Kong’s political unrest demonstrate, you never know when governments and laws can change, and dual citizenship can give you the freedom to choose what’s best for you. In addition to giving you peace of mind, it increases your financial and personal security. Investing in a second passport is a great way to ensure your family has a more secure future in the years to come.
Best countries to get a second passport
The easiest way to obtain a second passport is through citizenship by investment if you do not qualify for citizenship by descent, marriage, or naturalization.
Investors and their families can get second passports through citizenship by investment programs all over the world if they invest in a specific nation. These investments are typically real estate investments or contributions to a government fund or bonds, but can vary depending on the citizenship program you choose. Some of the best countries to get a second passport are Portugal, Spain, and the Caribbean Island nations like Dominica, Grenada and St. Kitts and Nevis.
How to get a second passport through Portugal’s Golden Visa
You can also invest in Portugal’s Golden Visa program, which rewards qualified investors with a residence permit. Portugal’s border agency, SEF, issues the Portugal Golden Visa, which allows you to obtain Portuguese citizenship after maintaining a five-year investment.
How to get a second passport through Spain Golden Visa
You can get a Spanish passport after going through Spain’s Golden Visa program and maintaining your investment as well as your permanent residency for 10 years.
How to acquire citizenship through Greece Golden Visa
Golden Visa Greece offers citizenship by naturalisation after seven years of maintaining your Golden Visa. The main applicant can live and work anywhere in the European Union with Greek citizenship.
Citizenship with the Irish Golden Visa
The Ireland Golden Visa offers foreign investors a window into the European Union. In spite of the fact that the program does not immediately grant Irish citizenship, it is possible to become a citizen of Ireland after holding your respective investment for six years.
Second passport with the EB5 US Visa
An EB5 Visa US Permanent Resident offers a Green Card first, followed by US citizenship after five years. For citizenship, you must maintain your respective investment (and your Green Card) for at least five years, but it’s worth it because you will be granted full citizenship.
Spain vs Portugal: which Golden Visa is better?
In spite of the fact that both Spain and Portugal offer golden visas, the requirements and conditions of the programs differ. What is the best Golden Visa?
Where to get a second passport?
Where to get a second passport depends on your lifestyle preferences and budget. Generally speaking, obtaining another passport is possible in many countries that offer citizenship by investment programs.
Some of the most popular citizenship by investment programs countries offer include:
- Citizenship by Investment in Dominica
- Citizenship by Investment in St. Lucia
- Invest in Malta and become a citizen
- Invest in Cyprus and become a citizen
- Program for Curaçao Investor Permits
- Investment Citizenship in Turkey
You can get a passport in four months for just $100,000 in the Caribbean, such as Dominica and St Lucia. A qualifying investment of over €1 million will earn you European citizenship in under a year in Malta and Cyprus.