Nowadays with the fluctuating political and social events, one should not be bonded to a single country and be completely dependent on a single country. A second passport offers a plan “B” to its owner. A European passport through a second citizenship is a powerful to own and releases you from international tax, provides extra privacy, travel freedom and most importantly, it could be a life saver in case of political unrest, terrorism, civil wars or any other difficult and perhaps dangerous situation. It could be considered as an insurance policy. Residence programs and second citizenship programs are more often pursued by business investors, wealthy retirees, self-employed individuals and entrepreneurs. Nevertheless, we can achieve it so that any individual may enjoy the benefits which arise this.
The circumstances which may urge someone to pursue a second passport vary but some of them are:
1. Your current passport needs to be frequently extended or renewed.
2. Your current passport may be renounced or annulled by the Government.
3. Your current nationality restricts your business plans and your investment opportunities.
4. Your current Government levies high taxation on your assets, capital and worldwide income.
5. Your nationality turns you into a terrorist’s target.
6. Your Government requires registering any travelling plans, controls or limits it.
7. Your current passport indicates that you are a citizen of a not so well received country and causes prejudice or negative welcoming.
8. Your nationality requires you or your children to serve the army.
9. Your current passport limits your movements and you seek a passport which does not require visas.
10. Your residency state is facing political instability.
11. You wish to alter your permanent residency address.
12. You wish to protect your family from unexpected misfortunes.
13. You wish to provide higher quality education to your children with a low cost.