A second passport can be one of the most powerful documents you possess. Passports represent freedom of movement, security and prosperity. Ownership of a second passport creates opportunities for you and your family to travel and thrive across the globe.
The desire for global citizenship is a booming market. Chinese nationals are the largest demographic for citizenship investment programs (CIP), with “more than 100,000 Chinese people spending at least $24 billion in the last decade.”
In Britain, a survey by CS Global Partners discovered that 89% of citizens were interested in investing for multiple passport ownership, while 34% of respondents already researched second citizenship investments. A surprising majority of survey participants, 80.68% would give 5% of their salary to a CIP.
Many countries around the world welcome investment and donations from people as a method of driving economic diversity. Nations honor contributions from high net worth investors with privileges such as passports and travel and global mobility to hundreds of countries around the world.
What Are the Benefits of Owning a Second Passport?
Access to Lifestyle Improvements
The ability to easily travel to affluent nations provides access to the best that the world has to offer. Terrific lifestyle improvements, including healthcare, education and real estate, exist in major cities around the globe. A second passport allows you to achieve these desirable lifestyle benefits, making it easier for you and your family to take advantage of affluent global opportunities.
Financial & Business Benefits
Successful business owners in the process of expanding to new markets greatly benefit from second passports which allow for visa-free travel to as many countries as possible. This type of elite status also opens investment opportunities in nations that provide favorable tax rates compared to other countries. The financial and business benefits of second passport ownership become part of your family legacy for generations.
Freedom & Human Rights
One of the few constants of our world is change. Many countries change for the better, but some struggle with war, collapsing economies and other types of catastrophic upheaval. In these scenarios, owning a second passport becomes extremely valuable. The ability to travel freely helps secure the freedom, rights and physical safety of you and your family.
Avoid Travel Restrictions
Some people face significant travel constraints because of their country of origin, even if they have nothing to do with the reasons behind the restrictions. Despite living peacefully and prosperously, these folks endure lengthy, unpredictable visa applications or the inability to board a plane to certain nations. A second passport can avoid strict visa requirements and even complete travel bans.
The Most Popular Reasons for Obtaining Second Passports
People choose to engage with CIPs for reasons of personal importance. According to CS Global Partners, the most popular reasons were:
- Freedom and human rights - 28.57%
- Travel opportunities - 28.57%
- Business/Career opportunities - 16.48%
- Lifestyle Benefits - 12.09%
- Other Benefits - 14.29%
Which Countries Offer a Second Passport of Value?
Citizenship Investment Programs (CIPs) tend to be available in many countries worldwide. Some of the most popular destinations include nations with passports that are welcome in nearly all countries. Other destinations attract interest for their CIP because of excellent lifestyle choices, favorable tax planning strategies, diversified business opportunities and cost-effective investment for second passports.
Some of the best destinations include: