The ultimate tool for the modern businessperson
Investing in second citizenship has become a necessary asset for thriving in an ever-changing world
As much of the world continues to deal with the fallout of the Covid-19 virus, it is evident that the scars left behind by the pandemic will serve as a reminder of the lessons learnt over the last year.
From travel restrictions to a complete upheaval of the ways we live and work, the unprecedented consequences of the global health crisis have shifted the world as we knew it. As we attempt to re-emerge from the other side, one of the biggest questions, especially amongst successful businesspeople, is what tools are necessary to protect a business in the post-Covid era?
For many, the solution was to obtain second citizenship – a demand that skyrocketed in 2020 globally. Holding second citizenship has become arguably the most important status that a person can have in today’s climate. Those with dual nationality usually have greater travel freedom, making all the difference when conducting business abroad. Depending on your native country, your citizenship can hinder business prospects, wasting both time and money acquiring visas and waiting in embassies. If you want to keep your business competitive, keep your family safe, provide better access to higher education, or expand overseas, a second citizenship can help you.
As more Middle Eastern investors and entrepreneurs recognise the value of second citizenship, citizenship by investment (CBI) programmes have witnessed a resurgence in interest. Such initiatives present an alternative to acquiring citizenship through traditional means, particularly if you do not have ties to another nation while also offering time-pressed individuals with a straightforward application process.
The concept originated in the Caribbean, and the region has become an industry leader within the CBI industry due to its decades of experience, family-friendly options and meticulous approach to due diligence. In this year’s CBI Index, an annual ranking of the world’s CBI programmes, both Dominica and St Kitts and Nevis were awarded the best second citizenship. Aside from being the longest-standing options on the market, both nations have evolved to meet the changing demands of their clients, whether it’s expanding the number of dependants that can be included in an application, or streamlining its processes.
Investing in second citizenship is no longer a luxury asset but one that is necessary to thrive in an ever-changing world. It ensures that you have a Plan B in times of volatility but also allows individuals to expand beyond their horizons, which is crucial to those with a global outlook.
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