This website explains a wide range of subjects related to nationality and second passports, but it might still be possible that the main reason why a person might want to go through all the effort and costs to obtain second citizenship is unclear.
If that is the case, then this page is the one for you! This page describes six very important reasons to have a second passport for you and your family.
1. A Second Passport Makes It Difficult For A Government To Control You
For most people, one passport is enough. There are many studies that show that most Americans (for example) will never leave the state they are born in and will never have a passport. If you are one of those people, that is totally cool. You don’t travel and don’t want to. You live your life within the boundaries of one country.
However, at the other end of the scale, there are many people that live very international lives. Perhaps they travel for work, or have families in more than one country.
There are also people that are very high profile within their own country, either for business or political reasons. For these people, the physical safety of they and their family might be compromised just because of a wrong word to a powerful person. People in these situations value a means of escape very highly.
This means that while the business owner, usually the father, needs to stay in the home country and work, his wife and their children might move abroad to study or relocate. Having a second citizenship makes it much harder for the home government to control them. They have changed the rules of their lives, often for the better.
2. A Second Passport Provides Extra Freedom Of Movement
Let’s imagine that you were born in a third world dictatorship somewhere, but have been successful. You now would like your children to be educated at the finest universities in the world. How can your little darling get into Hardvard, Cambridge or the Sorbonne?
Having a passport that provides more rights and freedoms – such as a European Union document – will make it much more likely that your children will be accepted into a higher ranking school or university.
Or another example, imagine being an American citizen and wanting to visit Cuba. for decades that has been impossible, but if you have another passport…
In times of war or conflict, borders normally are closed. This is one of the reasons why such large humanitarian tragedies occur. People are trapped inside a war zone. However, it is normal practice for foreign nationals to be allowed to leave the danger areas in the early days. In fact, many governments take efforts to help their citizens to evacuate. With a second travel document, a family has an option to escape. A second nationality can save your life!
There are many such opportunities as this that can be opened up with the right legal document. All a family needs to do now is to get that document…
3. A Second Passport Opens Up Unusual Job Opportunities
In a previous work life, your author lived and worked in Brussels, Belgium. As you may know, Brussels is home to the institutions of the European Union. There are tens of thousands of people that live and work in Brussels and have some government, EU or lobbying role.
In that time I met a number of people that worked for one of the main EU institutions (usually either the European Parliament or the European Commission) who were born and raised in one country, but had a parent from another EU member state. They were unable to work for the EU as one nationality, but were able to find a job as a member of the second nationality. For those people, their heritage provided them access to their career of choice. This is access that they would not have had if they only held the other nationality.
There are many types of role that are opened up to people because of their heritage, language skills or legal documents. Why not be a part of that group?
4. A Second Passport Can Make Banking Much Easier
There are many countries in the world whose citizens have very few opportunities in financial services. Quite simply, the global banking system makes life very difficult for most of humanity because of FATF rules relating to anti-money laundering and Know Your Client. If you are from one of these countries, a standard international wire transfer can be borderline impossible, or very expensive.
If you or your family wish to move abroad, your ability to support yourselves financially will be vital. Banking makes much of that possible.
5. A Second Passport Opens Up Many Taxation Options
In the same way that a person’s finances are wrapped inside their nationality, for many people, their taxes are inside that same wrapping.
For some people with independent incomes, it might be that their tax situation is fixed. For example, retired people that have worked for government entities for years have very little choice in how and where they pay tax. They just do! In the same way, there are people – especially from the United States – that have fixed incomes from things like structured settlement agreements where the taxation is a part of the agreement. They would also have little to no choice about their tax status.
As we know, some countries levy very low rates of tax on their subjects, while others charge much, much more. There are some people that deliberately make choices relating to dual citizenship or citizenship by investment based purely on their tax situation. That seems quite far fetched to me, but many people do this.
Holding a passport from another jurisdiction can help to reduce a person’s tax bill substantially, if it is well planned and executed.
There are five of the main reasons why people pursue a second passport. Which applies to you and your family?