A second passport is a valuable asset. You can travel more freely and safely, open up business opportunities in other countries, and even avoid paying taxes on your income.
So why do you need a second passport? Well, it’s simple: it might not be safe for you to travel with your current one. If your country is unstable or politically volatile, having the ability to get out quickly could save your life.
Furthermore, if you have business interests outside of your home country, having the option of a second passport will help you to travel freely and safely worldwide without worrying about political unrest or being arrested for tax evasion.
Finally, if your home country taxes its citizens heavily (or doesn’t tax them at all), having a second passport gives you the option of living somewhere else where there are fewer taxes and more freedom—and that means more money in your pocket!
Benefits Of Having A Second Passport
The benefits of having a second passport are numerous, including the following:
1) Protection from political unrest in your home country
2) Increased freedom to travel, live, and work in different countries
3) Enhanced financial security
4) The ability to secure citizenship in another country without going through the traditional immigration process
5) A way to diversify your portfolio and make it more resilient against political or economic uncertainty
Countries That Provide Passports on Investment
Here are the top 10 countries that provide passports on investment:
St Lucia government launched the St Lucia Citizenship by Investment program in 2012, one of the most popular options for obtaining a second passport. The government of St Lucia has a citizenship-by-investment program that allows individuals to gain citizenship in exchange for making a one-time contribution of $100,000 to the country’s National Economic Fund; purchasing real estate from $300,000; buying at least $250,000 in government bonds; or investing at least $1 million in local enterprise.
St Lucia passport holders can travel visa free to over 140 countries across the world. Moreover, another 30 countries provide visas on arrival.
Grenada is a country in the Caribbean that provides Grenada citizenship by investment. To obtain citizenship in Grenada, applicants must either donate $150,000 or invest $220,000 in an approved real estate project by the government and maintain property ownership for at least five years.
There are 146 countries you can visit with a Grenada passport without applying for a visa in advance.
Dominica is one of the countries that provide passports for investment.
The country offers a fast-track residency called the Dominica Citizenship by Investment Programme (CIP). The program allows foreign investors to obtain Dominica citizenship by investing in the country and contributing to its economy.
There are three different programs under which the applicant can invest:
- Real Estate Development
- Business Investment
The minimum qualifying investment ranges from USD 100,000 to USD 300 000, depending on the type of investment made. The country of Dominica provides visa free travel to 143 countries for its citizens.
Antigua and Barbuda
The Antigua and Barbuda Citizenship by Investment Program (CIP) in Antigua and Barbuda is a great option for obtaining citizenship from a country with a stable economy, beautiful beaches, and a low tax rate. Many people choose to invest in Antigua and Barbuda because it has one of the most affordable passport programs in the world. The program allows investors to obtain citizenship after investing USD 200,000 in an approved real estate project or USD 400,000 in an approved business project. The investment must be held for at least five years before applying for citizenship. The CIP program requires an investor to spend at least 183 days each year in Antigua and Barbuda for five years after obtaining citizenship. After five years, this requirement will be reduced to only 90 days per year.
Antigua and Barbuda passport holders can travel to 151 countries without getting a visa before departure.
The Canada residency visa program available to those looking to immigrate to Canada. This visa can be obtained by investors, entrepreneurs, and skilled workers who wish to make their homes in Canada.
The residency visa program requires, or the Canadian government allows individuals to become accredited investors and make investments of CAD 350,000 into a Canadian “authorized designated organization.” To qualify, an individual must demonstrate his or her net worth with an income of at least $200,000 or proof of $1,000,000 in financial assets.
Once you have made your investment, you will receive a permanent residency card that allows you to live anywhere in Canada for as long as you like.
The Canada passport ranks seventh in the world; it grants its holders access to 187 visa-free countries.
The Turkish government has allowed foreigners to become Turkish citizenship by investment and receive a Turkish passport by investing in Turkey’s real estate market. As long as you have a large amount of money to invest in real estate, you are eligible to apply for citizenship.
The amount required to apply depends on whether or not you have family in Turkey. If you do not have relatives in Turkey, an investment of $500,000 will be required to apply for citizenship. If you have relatives here, an investment of $1 million will be required.
The Turkish passport can allows its holder to enter 110 countries without having to apply for a visa.
A Spain Golden Visa is a permit that can be obtained in Spain to obtain citizenship or residency. It is intended for those who invest €500,000 in Spanish companies or real estate.
The holder of a Golden Visa can live in Spain for up to five years without renewing the permit, after which he or she must make an additional investment of at least €500,000. The process takes about three months from start to finish and includes an interview with immigration officials.
The Spain passport ranks third in the world; it offers visa-free entry to 191 countries.
Portugal is a fast-growing country with a stable economy, a high quality of life, and rich culture.
The Golden Visa Portugal program was created to attract international investors. A Golden Visa Portugal can be obtained by purchasing real estate worth at least 500,000 euros or 1 million euros in cash. The applicant must also prove that they have paid their taxes in Portugal for at least eight months during the last 12 months before applying for the visa.
Portuguese passport holders can enter 187 countries without a visa, including the EU states, UK and Japan.
Malta Citizenship and Residency is a government program that allows foreign investors to gain citizenship in Malta by investing in the country. For citizenship status through investment, an investment of €750,000 can qualify you for citizenship after one year of residing in the country. For citizenship status through investment, an investment of at least €600,000 will qualify you for citizenship after three years of residency in Malta.
The Maltese passport allows holders to travel to 143 countries without a visa, making it one of the most powerful in Europe.
The Irish Immigrant Investor Programme was launched in November 2013, and it’s one of the most popular schemes for granting citizenship to wealthy individuals.
The program aims to attract foreign investors who stimulate economic activity in Ireland and is open to investors worldwide. To qualify for an Irish Investment Visa, a candidate must have a legally accumulated minimum net worth of €2 million.
The Irish passport was ranked the 5th most powerful in the world in terms of travel freedom, with Irish citizens having visa-free or visa on arrival access to 188 countries and territories.