In twenty first century’s world, one simply cannot have enough mobility especially if they are business people. Moreover; differing taxation policies, accessibility to important business hubs and entrepreneurship-friendly judicial systems of different countries offer quite attractive opportunities to investors. The most direct path to all these opportunities is to have an alternative residence or citizenship at hand.
People might try to protect their wealth, pursue a peaceful life or seek new investment opportunities. At this point, an alternative citizenship works as a future guaranteeing mechanism or an insurance policy. By having a second citizenship, people render themselves more flexible and more durable against the dangers of having a single option in life. Here are some of the key benefits of having an additional citizenship.
Enhanced Global Mobility and Visa-Free Access to Many Countries
If one is a business person of a high calibre, it is crucial for them to have the privilege of vast mobility around the world. If the primary country of the investor allows visa-free travel to only a few countries, then it would be quite a problem for that person to run an international company. Without a doubt, this is a huge obstacle for people who aim to run their business beyond the limits of national scale.
Higher quality passports grant their holders with immense advantages in terms of mobility. For instance, member nations of European Union offer visa-free access to its 28 member states and many other countries in line with its travel policies.
Better Career and Education Opportunities
Second nationality not only grants many advantages for the primary applicant, but also for their family. An applicant or investor might pursue a better career by applying for a second passport from another country and increase their volume and area of business. At the same time, their family also benefits from the many advantages of the alternative citizenship. As a very popular perk, children of an applicant might get the quality education that they maybe were not getting in their primary country.
Ease of Global Asset Diversification
“Families with multiple passports or residence permits benefit from each country’s best practices and are less vulnerable to a single country’s risks, shortcomings and unexpected changing fortunes,” says Dr Kälin of Henley & Partners. It is clear in this quote that one gains a crucial quality of flexibility against the possible hindrances along the way of conducting business.