A second passport is an asset that most people can only dream of. It can bring freedom, stability and immeasurable opportunities for those who have them.
While some people are lucky enough to be born with the right to multiple passports, others acquire them later, sometimes through marriage or naturalization.
However, one of the best ways to acquire a second passport is through a citizenship by investment scheme.
What are the benefits of having a second passport?
Imagine being able to travel all over the world without a visa, or move and work freely in a number of different countries. Depending on the country, a second passport can provide you with all these advantages.
The opportunities that come with having a second citizenship can be innumerable. Whether in regards to investment or travel, a second passport can widen your options and also allow you to take advantage of access to better education and healthcare.
With Brexit and the political unrest in Hong Kong, it just goes to show that you never know when governments and laws can change, and having dual citizenship can give you the right to choose what’s best for you. If you’re looking to build a better future for yourself and your family, a second passport is the best way to ensure they will have a more secure life in the years to come.
How to obtain a second passport
If you don’t have the right to citizenship through descent, marriage or naturalization, the easiest way to obtain a second passport is through a citizenship by investment program.
Citizenship by investment programs exist all over the world, and are in some cases known as “Golden Visas”. These schemes usually require applicants to pay a sum, or make a certain type of investment and spend a determined amount of time in the country in order to be awarded citizenship.
Where can I get a second passport?
There are many countries all over the world which offer citizenship by investment programs.
Some of the most popular citizenship by investment countries include the US, Portugal, and Malaysia.
In Europe, the Greek Golden Visa is one of the most popular, mainly due to it being cheaper than most. The Portugal Golden Visa also ranks highly, due to the high returns on investment, the speed with which citizenship can be obtained (just 5 years).
The main difference between the Greek Golden Visa and the Portuguese Golden visa is the stay requirement (the number of days you are required to spend in the country in order to apply for citizenship). The Portuguese Golden Visa only requires applicants to remain in the country for 7 days in the first year, whereas in order to obtain citizenship in Greece applicants must spend at least 180 days per year, for at least 7 years.
Where is the best place to get a second passport?
Some of the main factors to take into consideration which will affect the worth of the passport you are obtaining are:
- Is the country on the OECD whitelist?
- Is the country inside the EEA/Schengen zone?
- How much does it cost?
- How long does it take to obtain citizenship?
Advantages of European citizenship
One of the main advantages to obtaining European citizenship is the freedom it gives when it comes to travel. As a European citizen, you have the right to live and work anywhere in the European Economic Area (EEA), and even once you have your Golden Visa residence permit, you can travel anywhere within the 26 countries in the Schengen Zone. With a European passport you can also travel visa-free to many countries all over the world.
When it comes to tax efficiency, there are also a number of schemes which can be taken advantage of in European countries.
Best citizenship by investment countries
|Country||Qualifying investment||Value of investment||Stay requirement||Length of time for citizenship|
|Portugal||Real estate, fund investment||€350,000||7 days||5 years|
|Greece||Real estate||€250,000||180 days per year||7 years|
|Malta||Investment + donation||€1,200,000
(€350,000 real estate + €650,000 national development fund + €150,000 investment in financial instruments + €50,000 fees)
|5 years||5 years|
|Cyprus||Real estate||€2,000,000 + €150,000 government fees||None||6 months|
How can I get a second passport?
Second passport investment options
Each citizenship by investment program has different requirements, some involve a transfer of capital to the state, some involve making an investment which will create jobs, and others involve making an investment in property.
There are a number of benefits to each type of investment, for example an investment in property can also result in high returns depending on the country.
Fund investment can also be a lucrative option, which is where a fund manager will manage an investment into one or more companies over a predetermined period of time.
For those interested purely in obtaining residency and subsequently a passport, transfer of capital can be the easiest option.
Second passports for children
If you’re wondering whether it’s possible to obtain a second passport not just for yourself, but also for your children, then yes, it is possible. Depending on the program you invest in, you can apply for resident permits for your dependents, including your partner, children, and even your parents.
With the Golden Visa program in Portugal, for example, children can apply for residence permits as well. After 5 years they can also apply for Portuguese citizenship, and as EU citizens are then permitted to study, work and travel anywhere within the European Economic Area.
This also means they can benefit from reduced tuition fees in a number of universities across the continent.
Step-by-step guide to getting a second passport
1.Get in touch
- Schedule a free initial consultation with one of our team so that we can understand more about your requirements and advise you on your options.
- We build a portfolio of the best investment possibilities, tailor-made to suit your needs
3. Begin application
- We assist you throughout the application, ensuring you meet all of the specific requirements and aiding with the legal aspects
Frequently asked questions about second passports
What’s the fastest Golden Visa program in Europe?
The fastest Golden Visa program in Europe is Portugal, as it gives you the opportunity to obtain citizenship in 5 years.
What is the easiest way to get a second passport?
If you don’t have the right to citizenship from another country through naturalization, descent, or marriage, citizenship by investment is the easiest way to get a second passport. It can sometimes be even easier and faster to get citizenship through investment that through other means, which can sometimes require complicated evidence or that you must reside in another country for prolonged periods of time.
Can I get a second passport?
Yes, as long as your country of origin permits second citizenship.
Can I get a second passport for my child?
Yes, many citizenship by investment programs allow you to obtain residency for yourself as well as your children.
Can US citizens get a second passport?
Yes, US citizens can get a second passport, and they do not have to renounce their American citizenship.
Can I buy a second passport?
It isn’t possible to buy a second passport, but you can obtain citizenship through investment programs. To find out more, get in touch with one of our team for a free consultation.
Where to apply for a second passport?
If you are unsure where would be the best place for you to invest in a second passport, it can be a good idea to get in touch with a specialist. This means you can have the advantage of receiving expert advice from a market insider, as well as guidance throughout every step of the process.
Which countries offer citizenship by investment?
There are many countries around the world which offer second passports through investment.
It is important to note that while all of these countries offer some form of residency permit in return for investment, acquiring citizenship is not necessarily such a straightforward option. It can in some cases require you to live continuously in the country for a number of years, and even then there may be other legal barriers towards obtaining citizenship.
These are some of the most popular investment residency schemes around the world:
Citizenship by investment in Europe
UK, Malta, Cyprus, Portugal, Spain, Greece, Netherlands, Italy, Bulgaria, Latvia, Portugal, Ireland, Moldova
Citizenship by investment in North America
Citizenship by investment in Central America
Mexico, Honduras, Nicaragua, Dominica, Costa Rica, Panama
Citizenship by investment in the Caribbean
Antigua & Barbuda, Dominica, St Lucia, Grenada, St Kitts, Anguilla
Citizenship by investment in South America
Colombia, Peru, Argentina, Chile, Ecuador, Paraguay, Uruguay, Brazil
Citizenship by investment in Asia
Malaysia, South Korea, Turkey, United Arab Emirates, Thailand
Citizenship by investment in Oceania
Vanuatu, Australia, New Zealand
Who can get a second passport?
Most citizenship by investment programs require a background check to ensure that you do not have a criminal record.
What documents are required to get a second passport?
The documentation required for each citizenship by investment program will depend on the country which offers it, however most will require the passport of the country of origin and also proof of investment.
If you’re looking to obtain residency or citizenship through investment in Europe, our specialist team can help you. To find out more, get in touch so that we can begin work on a personalized plan just for you.
Get in touch with our specialists at Global Citizen Solutions. We are confident that our comprehensive range of services and our unequaled experience will give you that crucial advantage and deliver a successful investment property for you and a clear path to European citizenship.