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February 01, 2021

Why having second citizenship is crucial during these uncertain times

second passport 02
Janice Williamson

Author:

Janice Williamson

General Manager

The challenges brought about by the pandemic underline the importance of having a Plan B to ensure security and stability even in the face of unexpected events. 

Citizenship-by-investment provides a way for individuals and families to protect themselves from unforeseen challenges that could bring instability, without the need to completely relocate and experience a drastic change in their lives. 

How can second citizenship protect you and your family? 

1.  Ensure global mobility

The pandemic has caused numerous lockdowns across different countries, severely restricting international travel. 

Citizenship-by-investment programmes offer visa-free travel to more than 110 countries, including the United Kingdom, European Union member countries and major Asian countries. Having this advantage can significantly reduce the obstacles to one’s freedom to travel and help ensure global mobility even during difficult times. 

For example, in 2020, industry analysts saw a sharp increase in second citizenship inquiries from American citizens who want to benefit from visa-free travel, especially with widespread travel restrictions around the globe.

2. Have a safety net in place

Second citizenship grants investors and their families the ability to settle in other countries that have a stable political and economic climate. This benefit ensures they have a safe place to go to in case of emergencies, such as during a pandemic or if there is unrest in their home country.

As mentioned above, second citizenship greatly enhances a person’s travel opportunities, which means second passport holders will always have the option to relocate to a secure country, should the need arise. For instance, most European countries that offer citizenship-by-investment give investors the advantage of living freely in all European Union countries. 

3. Enjoy financial and tax advantages

The key advantages of second citizenship help ensure a thriving future for you and your family. Most CBI programmes grant tax privileges to investors and their families, which include 0% tax on foreign income, capital gains, estate and inheritance. These tax benefits ensure investors can manage their wealth efficiently and guarantee the financial security of their families, especially their children.

In 2020, experts at Next Generation Equity saw a surge in demand for citizenship-by-investment from Africans around the world who are seeking access to the many benefits of second citizenship, such as tax incentives and financial security. 

Additionally, citizenship-by-investment programmes offer lifetime citizenship, which can be extended to family members, such as the investor’s spouse, children, parents, grandparents and siblings. This means investors can extend the benefits of second citizenship to their loved ones and even to the next generation. 

4. Tap into lucrative business and investment opportunities

Countries offering second citizenship programmes generally require real estate investments made within their territories. The investment enables applicants and their families to obtain second citizenship within 3 to 4 months, while securing real estate properties that are expected to increase in value in the future. 

Moreover, with enhanced global mobility, investors can explore business opportunities in different parts of the world, including key economic hubs in Europe, Asia and the Caribbean region.

To learn more about the most suitable citizenship-by-investment programme for you and your family, book a free consultation with our experts by filling out the form below.

Obtain your second citizenship through Next Generation Equity:

Next Generation Equity is a government-approved facilitator of residency and citizenship-by-investment applications from select countries across the Caribbean and Europe.

Since its establishment in 2014, Next Generation Equity has facilitated investment applications worth over USD 250 million.

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