Most countries allow their citizens to have a second citizenship, which is essential for the protection of global investments and assets. However, some do not, and in these cases, it is necessary to renounce your native citizenship to obtain citizenship in the country of your choice.
Dual Citizenship brings many benefits beyond safeguarding capital though. It ensures the protection of you and your family from political and social turbulence, offering a means for a Plan B and an exit strategy. It can also provide a better life, a higher standard of living, and more educational opportunities in stable world-leading countries.
What is Dual Citizenship?
Dual Citizenship applies when a person holds two (or more) passports and citizenship certificates issued by unrelated nations. The more common options to obtain a second nationality are birthright and ancestry, naturalization, and marriage. However, some countries around the world allow for their citizenship to be “purchased” via a significant capital investment in the country.
Bear in mind that if you choose to pursue Dual Citizenship, you are pledging allegiance to two (or multiple) countries. This implies having full legal rights in each country, as well as duties and responsibilities, which may sometimes result in conflicting obligations between both countries.
At Investment Visa, we always recommend consulting first with an attorney-at-law to explore the most viable options for you.
Types of Dual Citizenship
There can be several ways of obtaining Dual Citizenship depending on the country.
The most common way of obtaining a second nationality is by birthright, which is when an individual can inherit their parents' or grandparents' citizenship from another country. In Europe, countries such as Portugal, Italy, and Spain, allow up until the third generation of immigrants to claim their citizenship. It is always worth conducting an ancestry background check and verify if you can obtain a second citizenship through this way.
Another common option is naturalization, which often comes up after an individual is residing legally and permanently in a foreign country for a certain number of years. For example, you can become a Portuguese citizen after five years and a Greek citizen after seven years. As it can prove a time-consuming option, it is not ideal for those pursuing second citizenship quickly and efficiently.
It can also be obtainable through marriage since some countries accept it as a legal means for a foreign national to get citizenship. Usually, marriages are only accepted if both spouses are living in the country and only after a set amount of time has passed.
While all these options are valid, the Dual Citizenship requirements are dependent on external factors outside of your control. No one can determine their ancestry, and living in another country permanently and continuously is not viable when business may take you all over the world.
This leads us to the best and most efficient option: Citizenship by Investment programs, which allow you to choose where to invest and what citizenship may be best suited for your needs. There are also Residency by Investment programs, commonly known as Golden Visas, which can lead to a second nationality. These programs are designed to attract significant capital investment in the country’s economy in exchange for residency or citizenship, and other benefits. Residency or Citizenship by Investment programs are the ultimate option if you are looking for another nationality.
Which countries allow Dual Citizenship?
Out of the 193 countries recognized by the United Nations, more than a hundred permit their nationals to hold Dual Citizenship, and you can check our updated list below. Please bear in mind this list is merely indicative, and our team of experts at Investment Visa has deep knowledge of all matters regarding Dual Citizenship. Feel free to contact us and receive the best help.
What are the Best Countries for Dual Citizenship?
At this point, you might be wondering what the best countries are to obtain Dual Citizenship. It all depends on which region of the world you intend to seek citizenship.
When it comes to Europe, Greece bears mentioning, even though it does not have a direct Citizenship by Investment program. The Greece Golden Visa program unlocks the path to becoming a Greek citizen, and it holds merit in mentioning due to its cost-for-value, which starts at an investment of EUR €250,000.
However, if the length of time is an inconvenience you wish to bypass, and you want to remain in Europe, the Turkey Citizenship by Investment program is the best one. It is worth bearing in mind that, despite having close ties, Turkey is not in the European Union.
Alternatively, there is also a Citizenship program in Malta, an EU country, the Maltese Citizenship by Naturalization for Exceptional Services by Direct Investment. However, the process can take up to three years and requires plenty of documentation and this program holds the best path for Dual Citizenship in the European Union.
If you prefer the Americas, then the Citizenship by Investment programs in the Caribbean have the best value and they rank among the easiest countries to get a second nationality. Regardless, Investment Visa highlights four countries in particular, which are: Antigua and Barbuda, Dominica, Grenada, and Saint Lucia. They all have similar programs, with the purchase of Real Estate options starting at USD $200,000 and offering countless tax benefits, not to mention the natural beauty and the Caribbean lifestyle each of the islands offers.
Investment Visa’s advisors know how to navigate Investment Visa programs and have carefully selected the best properties, meeting the most demanding investor’s needs. Our scope goes beyond advisory, though. Investment Visa boasts an After Sales team, tasked with Property Management and Tax Representation services, ensuring your needs are met even when you are abroad. Contact us now to ensure you receive the best assistance when it comes to finding the right second nationality for you.
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