What do people think about when considering another country? The answer to that in a traditional way is moving to another country or going for immigration programs. However, the new trend nowadays, is for individuals seeking citizenship or residency by investment. It is smarter to decide to obtain a dual citizenship since, that way, you don’t have to worry about costs and live in another country, being obligated to leave so much behind and go through all the hassle of moving.
The traditional way has always been moving from one country to another, but the better option is obtaining a second passport and become a citizen of that country. Thus, reducing costs and enjoying the many benefits citizens get to have.
Years ago, people needed to consider various factors when deciding to move to another country, and one of those main factors is cost of living. Necessities of life from housing to education have troubled anyone deciding to live in a country that is not their home country.
Cost of living can add up very quickly, reaching a point where it becomes unbearable. For instance, when looking at the cost of housing, you need to include insurance, utilities, maintenance, rent or mortgage payments, etc. Hence, your life is much easier when you make the right decision and acquire a second passport.
Antigua & Barbuda Citizenship by Investment Program, for instance, grants thriving business opportunities along with a one-year free scholarship to a member of the applicant’s family to at the University of the West Indies. Moreover, Turkey Citizenship awards free education as well as full medical assistance and visa-free travel. This therefore not upsetting about the high cost of those services.
Becoming a dual citizen makes you a global citizen, it offers freedom and security on all levels. What’s more, you get to take advantage of all those benefits without having to move to the country of your choice.
On the other hand, if individuals decided to go to another path, they would have to study the cost-of-living index which may include income and expenses, such as healthcare, housing, food, and utilities. As expected, what a certain amount of money can purchase in one country may be inadequate in another country, keeping in mind that you may be living comfortably with $200,000, but it may not be enough in another country. Meanwhile, with Citizenship by Investment, you will have privileges of citizens and not be troubled with costs of living.
To that end, here are questions to ask yourself when choosing whether to move to a country to obtain a second passport:
Will you be able to maintain your lifestyle in that country?
While the cost-of-living posts on the internet will give an idea of what to expect in a certain location, it’s crucial to remember that each person (you included) has their unique lifestyle that is different from the other. As such, you may need to consider how your lifestyle could be affected. Your lifestyle will significantly affect your daily costs and ultimately determine your monthly expenses, so you need to consider this when moving to a new place with a budget.
Instead, you could get a Saint Kitts and Nevis Passport, become a citizen of a Commonwealth country and not having to move or reside in the Caribbean island during or after your citizenship is obtained. Why worry about costs when you can get a second passport and achieve success? St. Kitts passport will allow you to open offshore bank accounts and companies, seeing flourishing business opportunities.
How is the country’s economic and political stability?
Fortunately, when obtaining a second passport, you do not have to worry about the economic and political situation of the country of your choice since you are not forced to move into the country. Thus, you will get all the advantages and no risk.
Dual citizenship in Malta provides a favorable business environment, since it is considered as a busy and beneficial business hub with a central location and tax treaties with more than fifty countries. Maltese citizenship, in addition, grants access to free EU education and healthcare.
Will you be able to travel freely?
Traveling freely is a major concern, especially after the outbreak of COVID-19 and imposing travel restrictions. Immigrating or moving to another country is therefore not the answer, especially in these modern times.
Dual citizenship and permanent residency have minimal requirements, and living in the country is not one of them. For instance, St. Kitts and Nevis passport grants visa-free travel to over 155 countries including the Schengen area, the United Kingdom and Hong Kong.
Dominica citizenship also allows you to become a global citizen and have visa free travel to countries. Its passport also grants no taxes on capital gains, gifts or inheritance. Being a citizen of a Commonwealth country awards numerous benefits and advantages, such as world-class education and healthcare, as well as stability and security.
Bluemina Citizenship & Residency offers over 16 citizenship and residency by investment programs, a gateway to eliminate any concerns related to moving or costs. Bluemina will help you choose a country tailored just for you. With its fast-processing time, transparency and excellence, the firm will grant you a global citizen status and will guide you to choose the right second passport.