One of life’s most challenging aspects is having a citizenship with limited mobility. This obstacle may go unnoticed by the majority of the globe’s inhabitants, but those who have to struggle with the ordeal know exactly how it can hinder one’s life. Those with a strong citizenship may also be blind to the potential it provides them with, and it would take the insight of a person deprived of these opportunities to highlight them as they face more boundaries within day to day life. The good news is that a person with a citizenship that has limited accessibility can easily acquire a strong one through investment. The Caribbean countries of Antigua & Barbuda, Dominica, Grenada, St Kitts & Nevis, and St Lucia all offer citizenship by investment programs that offer investors the chance to obtain a robust passport. Vanuatu and Turkey also have similar programs, opening the doors for those who have been handed weaker citizenships to overcome the obstacles ahead of them. To understand how a strong citizenship can change someone’s life, we need to consider the factors it can directly address, and what makes a citizenship “strong.”
Attributes of strong citizenships
Rating a citizenship of a country as strong is a relative matter, based on different perspectives or criteria. However, there are some factors that can contribute to the strength of any given citizenship, which are:
- Level of freedom – be it political freedom, voting rights, freedom of speech, freedom of movement, conducting business, or otherwise.
- Country’s performance – in terms of political sway, economic power, human development, or otherwise.
- Sanctity of citizenship – which refers to the ease of revocation, foreign aid, diplomatic missions, the country’s legal framework, constitutional rights, and more.
- Rights and obligations – such as the right to do anything within the boundaries of the law and the obligations such as paying taxes or serving in the military.
By understanding these criteria, a person can quickly determine whether their current citizenship is a helpful instrument or a stumbling block. If a person does indeed have a citizenship on the weaker end of the spectrum, they can obtain a powerful one through investment, and that would have massive beneficial effects on their life, such as:
Greater Freedom
By acquiring a strong citizenship, a person can greatly increase their level of individual sovereignty. By obtaining a second home with a different government, they can begin to plan their life based on the regulations, limitations, and opportunities of two countries instead of one, choosing which one offers them more freedom within specific contexts. A citizenship from one of the citizenship by investment offering countries will also offer a pathway to a country that has a democratic government framework, providing greater political freedom. These countries also operate on a capitalist ideology, offering more flexibility in terms of investments and doing business. An investor can bypass roadblocks that obstructed his original citizenship (such as political sanctions against an entire nationality) and use their new, stronger citizenship to expand their businesses or investments. A strong passport will increase a person’s global mobility, giving visa-free access to various destinations around the world and thus increasing their freedom of movement. The Caribbean averages 150 visa-free destinations, and Turkey offers 111. A strong citizenship, if chosen wisely, can also hedge against global geopolitical instability. By having two citizenships from different geopolitical axes, a person can ensure they have a foothold in a safer country if their home nation suffers any turbulence.
Business and investment opportunities
Having a strong citizenship may allow a person to circumvent any financial or business restrictions they have in their own country. Expanding a business with a strong citizenship is easier on average. For example, opening a bank account or establishing a business in the UK as an American is much easier than doing so as an Iranian. More countries with liberal economy, such as those in the Caribbean, can also provide unlimited opportunities. Cryptocurrency trading, for example, is widely accepted in the Caribbean, but it is still getting established in many other nations throughout the globe. Taking into consideration specialized or friendly tax regimes and establishing a business in another country as a citizen can help an investor restructure their tax burden to become more favorable. Hence, a strong citizenship can unlock business, investment, and tax opportunities that some with countries and nations may not be able to access.
Enhanced lifestyle
The life of a dual citizen is easier. The life of a dual citizen who holds at least one strong citizenship is much, much more comfortable. Travel isn’t a hassle, and obtaining residencies elsewhere is easier due to the ability to bypass nationality restriction lists. Doing business, managing wealth, paying less taxes, all of it becomes simpler when you have a second, strong citizenship. The obstacles that many face suddenly evaporate, and the world becomes full of opportunities ripe for the taking.
If you’d like to learn how you can obtain a strong citizenship through investment, contact us today to speak with one of our second citizenship experts.
