Leaders in Second Citizenship Planning
Haskew Law is a leader in citizenship planning. Each year, we assist hundreds of private wealthy individuals, families and their advisors with our expertise and experience in this niché area. Our highly qualified professionals work together with teams in over 15 countries worldwide to deliver the solutions our clients require.
The concept of international mobility and the freedom this provides has grown since the 1990's and is now more relevant than ever before as residence, domicile and citizenship have become topics of significant interest among the increasing number of internationally mobile entrepreneurs and investors whom we assist in acquiring security and options in a changing world.
We are proud to have been at the forefront of these global trends for over 20 years and our partners have first-hand experience of living and working in over 20 jurisdictions across the global assisting our clients to become global citizens.
The conditions under which the privilege of naturalisation is granted vary from state to state, but family relationships or lengthy periods of residence are usually essential, besides character and other requirements. While residence is granted to investors and wealthy individuals in most countries, there are currently only six countries which offer citizenship-by-investment programs that provide a direct route to citizenship based on investment and which have passed our due diligence: Austria, Antigua and Barbuda, Cyprus, Dominica, Malta, and St. Kitts and Nevis.
Citizenship-by-Investment programs offer you the opportunity to legally acquire a new citizenship quickly and simply, without any disruptions to your life.
Other countries offer a route to citizenship following a reasonable period of residence, such as Australia, Belgium, Bulgaria, Canada, Portugal, Singapore, the UK and the USA.
Citizenship-by-Investment programs offer you the opportunity to legally acquire a new nationality and an alternative or second passport quickly and simply, without major disruption to your life.
Austria, Antigua and Barbuda, Malta, and St. Kitts and Nevis are the Citizenship-by-Investment programs which we consider sufficiently clear in law and processes, and having sufficient reputation and transparency, to be considered the top tier of Citizenship-by-Investment programs. Cyprus and Dominica are two programs which, depending on your specific circumstances, can still be of interest. Austria, although a very expensive and somewhat complicated option, can be an attractive option for an investor who intends to invest in the country in a significant way in business assets or venture capital.
Why You Need Alternative Citizenship
The date of an important business trip is approaching, and you find out that you need a visa. You have to fill out a long form (possibly listing every country you have visited over the past five, or even 10 years). You may need to travel to a consulate or embassy for an interview. The visa may cost as much as your airline ticket and you may have to send your passport to the consulate or embassy and not receive it back for two or three weeks. You begin to question whether you really need to go on this trip, and you forget about bringing your family along as you would not want them to go through the same procedure as well.
Due to political circumstances, citizens of many countries find it difficult to travel abroad and are confronted with strict visa restrictions each time they want to enter a foreign country. On the other hand, nationals whose passports usually allow them easy access to most countries may still need to obtain a visa to travel to some countries or can find it impossible to obtain visas due to temporary travel restrictions during trade sanctions and other geopolitical disturbances. They may also be significantly exposed to terrorist threats or other forms of hostility due to their nationality. Moreover, although you may well be granted the required visa, this is always a very tiresome procedure, during which the passport on which the visa is stamped is not available, and this can be a significant factor in delaying your travels.
The Benefits of a Second Passport
If for some reason you cannot get or renew a passport in your home country (e.g. political instability, civil war, etc.), the right to another passport can be very useful, even critical. Even if you simply lose your passport, it may take some time until you can get a replacement, and having another passport may be crucial. Or as in the example above, if you require a visa and have to send your passport to a foreign embassy or consulate for processing, you cannot travel overseas during that processing time – unless you have a second passport.
Tax Aspects of Alternative Citizenship
It is important to point out that the acquisition of alternative citizenship does not alter one’s tax situation. In every case, you should consult with a specialised tax advisor regarding your individual situation.
Most importantly perhaps, citizenship and a passport, particularly from a small, peaceful country, can even save your life when travelling and in times of political unrest, civil war, terrorism or other delicate situations. For good reasons, many international business people from major countries and important persons who are active worldwide consider an alternative passport as the best life insurance money can buy.
Investment in the Future
In an unsettled, ever-changing world, acquiring a second citizenship is a wise decision and an investment for the future. Your citizenship of choice is for life, your spouse and children can be included, and there is often no need to give up your present nationality while you enjoy the benefits of a legal second passport. You should, however, check the laws of your current country of citizenship to ensure that you are in a position to legally acquire a second nationality.
Antigua and Barbuda is an independent Commonwealth state in the Eastern Caribbean, with some 365 beaches of turquoise water, the tropical island of Antigua is considered to be one of the most beautiful places in the world. Enquire now
Malta is a country strategically located at the center of the Mediterranean, and boasts an excellent reputation with a splendid climate, very friendly people, and a low crime rate, offering its people a great quality of life. Enquire now
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