The political and economic situation in Egypt and the Middle East is driving unprecedented numbers of citizens to seek the freedom of a second passport – or investing in citizenship in specific countries
The current visa restrictions for Egyptian nationals can make conducting business and moving freely around the globe a real challenge. Rasha Seikaly of Bluemina highlights the top 5 benefits of investing in a second passport for Egyptians.
Traveling either for work or pleasure can be riddled with hurdles if you don’t possess the right documentation. Certain countries require lengthy visa applications resulting in having to plan the trips months in advance.
Obtaining a second passport with fewer travel restrictions opens the door to last-minute travel to many destinations around the world. Traveling at short notice to attend meetings, conferences and proposals across the globe are entirely possible and no longer require you to jump through hoops and cut through endless red tape.
For example, obtaining citizenship from Antigua & Barbuda gives passport holders the freedom to travel to 134 countries without having to obtain a visa before arrival. These include countries like Canada and the United Kingdom, as well as the 26 Schengen Zone countries which form the majority of the European Union.
Global Investment Opportunities
In many countries across the world, foreign nationals are prohibited from participating in banking and investment opportunities, and it’s often impossible to take advantage of favorable property markets, interest rates and exchange rates due to alien status.
A second passport can bypass this hurdle entirely, opening up a myriad of opportunities for savvy investors.
Global Business Growth Opportunities
As is the case for banking and investment, many nations around the world have strict laws regarding who can and cannot conduct business within their borders, and foreign nationals are, more often
than not, prohibited from doing so. A second passport can break down this barrier and open up endless channels of opportunity to access new markets, huge numbers of potential new customers and lucrative trading deals.
Safety and security during political and economic unrest
Many families are looking towards Citizenship by Investment opportunities to provide themselves, their families and their businesses with an ‘escape route’ should it be necessary. The security and reassurance of knowing that if the worst were to happen, it’s possible to quickly relocate can be priceless.
Each nation employs varying tax rules for both citizens and foreign nationals, and many countries offer temptingly low rates and tax incentives that appeal to high net worth individuals. The Caribbean is a fantastic example of this; many nations here are known for this. Citizenship from some parts of the Caribbean & Europe can have massive advantages in terms of taxes, while still giving you visa-free access and business opportunities in the more industrialized countries of North America and Europe.