People all over the world are fascinated by dual citizenship. Many aspire to become citizens of another country and enjoy the many privileges that come with it, such as better employment and travel opportunities. However, there are misconceptions about dual citizenship that are not necessarily true. It can lead people to believe it is only for the privileged few or those working high-paying jobs. The fact is that anyone who holds a foreign passport and meets local nationality (or ties) requirements can attain this status and enjoy a rich new way of life.
But let’s first look at ten misconceptions regarding dual citizenship.
- Canada has citizenship in the Investment Program.Canada welcomes thousands of immigrants each year, and there are numerous immigration programs in place to aid foreign nationals in getting a resident visa. But obtaining Canadian citizenship is difficult; those accepted into one of the country’s immigration schemes must physically dwell there for at least 75% of the time after their residency award. Because of this, Canadian programs are for residence rather than economic citizenship, and residency by investment schemes does not assure immediate citizenship. Instead, it would be best if you met a series of requirements. Only via naturalization are foreign nationals able to claim Canadian citizenship.
- I can get a second passport if I give birth in Europe.Although there are occasions when it works, it, unfortunately, only works that way sometimes. People born in the USA and Canada are granted citizenship. Nobody, however, makes such a promise to the parents of a newborn.
Long-term residents of European countries who have worked, studied or lived there can apply for citizenship. In most cases, both the child and the parents immediately receive passports when born in Europe, including the UK. However, a newborn and their parents have legally been residing in the country for a significant time. In that case, most European nations will confer citizenship on them.
- To get a second passport, You must have been a country residence for a long time.This myth partly results from the fact that most nations have citizenship rules that stipulate that you must reside there for a considerable amount of time and meet other requirements. Such as knowing the local language, customs, and history, to become a citizen.
However, nations that provide citizenship through investment programs grant second passports relatively quickly. If you apply to the Caribbean programs, you don’t need to make it to the region to complete the application procedure. Additionally, applicants must engage the services of authorized agents and corporations authorized by the government to submit citizenship by investment applications and advertise the program overseas. For instance, St. Kitts & Nevis’s Accelerated Application Process allows you to get a second passport in just 60 days. Typically, getting a second passport from the Caribbean takes many months.
- An American passport is the most powerful.The strongest passport, according to the Nomad Passport Index, is Swedish. In contrast, the genuine strength of the American passport is significantly lower than what the government portrays it to be. Even though it is a vital travel document, Henderson points out that it severely restricts your options for investing. He also emphasizes that in some situations, having an American passport entails additional risks and difficulties, such as terrorist attacks.
According to other rankings of passport value, Japan, Singapore, Germany, and Belgium are said to have the most valuable passports. The US passport should be in the tenth or twentieth position.
- A second passport is easily acquired by marrying a European.The answer is yes, but only if your marriage is sincere. In addition, several Internet scams and schemes tempt people into phoney marriages so that they might immigrate to Europe.
First, the European nations would only immediately issue citizenship to a foreign spouse who had just arrived; the naturalization process often takes a few years. For instance, the UK would require the spouse of a British native or lawful resident to remain there for a minimum of five years.
Second, never undervalue the authority of European institutions. Every year, immigration agents deal with hundreds of couples in whom one partner attempts to immigrate to Europe through a forged marriage. They intuitively recognize them and keep an eye on everything they do. You may face deportation or even persecution if you confirm their fears by not demonstrating that you are a happy couple.
- Having a second passport is usually looked down upon. Nobody cares about your passport(s) as long as you obtained them legally. People who get atravel visa
Second, citizenship is more than just paper. You can travel more easily with this document, which also serves as a solid backup plan and an investment in your future.
A second passport can diversify your portfolio and make travel easier. It enables worldwide business growth and access to alternative banking services. Your tax burden can also be decreased through alternative citizenship. The so-called “Plan B”—a kind of protection policy for you and your family that you can employ in tumultuous times—is the most significant advantage of holding a second passport. Getting a second passport allows you to have a backup plan in case something terrible happens, such as restricted travel, capital controls, excessive taxes, etc.
- You will be neutralized.Some nations do not welcome visitors from certain countries, and it is nearly impossible for some ethnicities to become citizens in certain nations. Many nations in Asia and Africa don’t even attempt to naturalize foreigners.
- A second passport is criminalized.Having a second passport is entirely legal if your nation permits dual citizenship. It emphasizes that it is optional to promote your recently acquired second passport. However, there may be instances when you must report it to specific agencies. It is entirely legal, helps diversify your holdings around the globe, and reduces sovereign risk. Having a second passport is a legal escape route that enables you to leave your nation when the stakes are too high.
- You can’t be a dual citizen.Get comprehensive information on the citizenship laws of your home country for each applicant for citizenship by investment programs. The US and the majority of western nations allow dual citizenship. As globalization has forced its way into how and where we all live, most countries permit it, and more have started accepting it.
When a person holds dual citizenship, they have all the benefits of being a citizen of two countries at once. Dual citizens are entitled to unrestricted travel between the two nations and the ability to work, conduct business, own property, and engage in other foreign-restricted activities. Dual citizenship also has drawbacks since it may result in higher taxes or even mandatory military duty.