Notable facts on citizenship by investment & second passport

Passport is a legal and must-have document required by all countries for international travel. Whether travelling solo, with spouse and even children across the national borders, every individual must have their respective passport! If you’re in a foreign country, renewals and other essential changes to the passport can be done at the American Embassy located across the world.

Every state operates a passport agency where issuance and processes are managed. In-case your passport requires change in information such as change of name, a spelling error, correction of birth date and even if you need additional visa pages, request can be furnished at respected passport offices.

The citizenship by investment industry underwent a lot of changes during the last few years and let Antigua citizenship by investment programme be the finest example. Holding a second passport or dual citizenship has become much more significant so here’s all you need to know about the best programs!

Valuing a second passport

Some of the best features of a second passport and dual citizenship include;

  1. One that you can afford easily
  2. Allow you visa-free travelling to as many countries as possible

For instance, a second Austrian passport ranks fourth being the most valuable and globally recognised travel document as it gives visa-free access to nearly 171 countries. As we speak, this is just the category-4 travel document so imagine where the first one would be!

Group-one passport allow the bearer visa-free travel to approximately 174 countries and is issued by the U.S, U.K and Germany. Whereas group-two lets visa-free travel to 173 states including Canada and group-three give access to 172 countries which is a passport from the Netherlands and Belgium.

A Dominican passport on the contrary gives you visa-free travel to more or less 91 countries and thus falls in the 41st tier. If second passport if from a European Union country such as Hungary, Cyprus, Malta or Austria, it gives you complete rights to work and live anywhere in the EU.

The number of visa-free travel would indicate the worth of your new passport in the light of decree from the world banks. It allows you to open an account anywhere around the world.

Avoid the second passport scam

Today, you’ll come across a dozen online charlatans who would promise inexpensive passports of various types such as diplomatic or banking. Don’t fall over these scams as there isn’t any debate or supporting argument to it! Note that there isn’t any easy or cheap way to get a hold of authentic second passport.

For U.S. citizens: A word of advice on second passports

If you’re citizen of the U.S, note that owning a second passport won’t change the tax or paying obligations. As long as you’re an American citizen, you’re liable to pay taxes on the worldwide income as offshore banks would continue reporting to the IRS.

Holding dual passport will however allow travelling and investment with more privacy but it’s also a step towards renouncing your U.S citizenship. Even before dumping the blue travel document, you’ll have the new passport in your hand.

Back in 2014, countries begun to block St. Kitts citizens were denied entry to fight terrorism but in the end, it was only the U.S. planning to enforce its FATCA system. Consequently, St. Kitts had no choice but to recall passports issued between January 2012 and July 2014.

Still, there’re many countries out there to offer the best passport and nationality with much worth such as citizenship by investment Antigua.

Conclusion

Dual citizenship and holding dual passports gained much significance during the last few years. The above details outline the facts quite clearly after which applying for Antigua citizenship by investment programme or any other country for instance would be easier.

Author Bio: William Scott is a passionate travel blogger who loves digging into almost everything related to the industry. Studying various citizenship and dual passport programmes are a few of his hobbies. In this article, the William Scott is exploring the opportunities of Dual citizenship in the perspective of citizenship by investment Antigua.

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