Why Dual Citizenship is a must-have life insurance policy?

Why Dual Citizenship is a must-have life insurance policy?
  • 4 minutes
  • Dec 05, 2017

Second Citizenship has gained increased popularity in the Middle East over the past few years. For an investment starting at USD 100,000, it is possible to obtain Caribbean citizenship in as little as 3 to 4 months. Nowadays, obtaining a second citizenship in the Caribbean or Europe through Citizenship by Investment Programs (CIP) is not only catering to wealthy investors, but anyone seeking to secure their future.

The concept of immigrating and residing in a foreign country for years before qualifying to apply for citizenship is no longer as popular as it was back in the day. In fact, that concept has become a thought of the past. Businessmen and businesswomen are quite happy residing and working where they are. Whether that’s in the United Arab Emirates, Saudi Arabia, Lebanon, Jordan, Egypt, Yemen, Libya and even in Iraq. Point is, people just want a safety net, an insurance policy for themselves and their families. And for an investment in one of the Caribbean countries’ economies, they can do exactly that.

There are many reasons why investors opt for second citizenship. One of the more obvious reasons is to find solutions for travel restrictions and to avoid tedious and time-consuming visa applications. They seek to protect themselves from current instability and political nuances. Investors also seek to open bank accounts and freely register and open companies worldwide. They take advantage of the Commonwealth passports to have access to high standards of education, healthcare, and living for themselves and family. And most importantly, there are many tax advantages; no personal income tax, no taxes on gains or inheritance.

Many investors think of this as a lifetime investment- after all, investors are granted lifetime citizenship that can be passed on to generations. Even more, second citizenship is valuable insurance in case of public unrest, political chaos, major lawsuits, and financial collapse. During the Arab Spring, you’d hear some of the most impressive stories of how a second passport saved lives, assets, and families. For some Middle Eastern nationals, obtaining a second (dual) citizenship and second passport is as vital as having life insurance.

Caribbean Second Citizenships and Passports

So how does it work? Saint Kitts & Nevis is the oldest and one of the most respected Caribbean countries. Investors chose to invest in Real Estate or donate to the government. For Real Estate. The application process begins and our certified consultants help applicants collect all required documents and the application file is sent out to the Citizenship by Investment unit in Saint Kitts & Nevis. After Approval, the investor receives Certificates of Registration (COR) for himself and all family members. Bluemina Citizenship & Immigration ensures a swift and smooth application process from start to end.

European Second Citizenships and Passports

Europe is also a destination of choice for obtaining a second citizenship and passport. In European countries such as Cyprus, a Cyprus Citizenship can be obtained by investing EUR 2.5 million in Real Estate. Although investment amounts for European Citizenship by Investment Programs are much higher, holders of a European Union (EU) passport gain a number of benefits that are not offered by Caribbean nations. These extra benefits include visa-free and visa-on arrival access to more than 150 countries worldwide, access to world-class healthcare and education, and the right to live, work, or study in any of the 28 EU countries with minimal restrictions.

The Golden Visa of Portugal has also gained popularity in recent years with an increase in Chinese investors. The permanent residency program requires investors to purchase real estate for the value of EUR 500,000 and maintain it for 5 years. A yearly visit for a week is required to maintain the Permanent Residence. After 6 years from applying for the Golden Visa, investors can apply for citizenship and obtain it by passing a simple language test.

Our experts can help you decide what citizenship program is right for you and your family. To Learn More about this

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