The importance of investing in a second citizenship

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Published: Tue 19 Jul 2022, 5:00 PM

Last updated: Wed 20 Jul 2022, 11:37 AM

In order to secure your future and to establish an international basis for yourself and your family, it is essential to obtain a dual citizenship that allows you to take advantage of all the benefits a strong second passport provides, such as greater mobility and visa free travel, as well as a higher standard of living. Citizenship by investment or residency by investment are one of the best ways to enjoy such benefits.

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With all the turmoil surrounding the Middle East, investors and wealthy individuals in the area are seeking quick and simple options to legally acquire an alternative citizenship and second passport especially from Caribbean or European countries, which grants them a powerful citizenship-by-descent and helps diversify their portfolios beyond their home countries.

One of the highly requested and successful programmes worldwide is the Saint Kitts and Nevis Citizenship by Investment which awards investors with the status of a global citizen within a few months only, and offers freedom of mobility to over one hundred and sixty countries including all of Europe and the Schengen zone as well as the UK. The St Kitts and Nevis passport provides overall safety and financial security for the whole family and the luxury of being able to plan for future oriented investments without worrying about the ever-changing environment. Keeping in mind that there is no need for investors to renounce their current citizenship, allowing them to enjoy the benefits of the two countries at the same time.

On the other hand, the Dominica Citizenship programme is considered one of the easiest Caribbean programmes available in terms of due diligence and processing time. The Dominica passport allows investors to open offshore bank accounts as well as provide them with access to international markets in Europe and China with much fewer constraints, making a second passport essential for what it offers in personal and financial independence on a global scale.

Malta as well offers a citizenship through investment programme that is quite attractive due to the country’s thriving economy, stable political climate, low crime rates, world-class education, and access to high-quality healthcare. Within twelve months, investors and wealthy families applying to this programme will be obtaining one of the most powerful passports in the world. Malta passport is currently ranked at number seven worldwide and allows visa-free travel to over one hundred and eighty-five countries around the world including the USA, Australia and Canada.

Youssef an Egyptian businessman obtained the Maltese citizenship in 2020, and since then his eldest son started University in Switzerland and he has been able to travel to visit him with his family on a regular basis.

Other investors who are looking for a prime investment location opt for the Citizenship by Investment programme offered by Turkey which they can receive in four months only. Arab investors and families choose Turkish citizenship not only for the country’s rich heritage and one-of-a-kind culture, but also for its strategic location between Europe and Asia that has given it major financial, economic, and political influence in the region. In 2021, Tarek who is an Iraqi investor, decided to obtain the Turkish passport for him and his family by purchasing property that he now rents and is currently benefiting from the return on his investment.

There are other programmes available worldwide such as Slovenian, Bulgarian, Cayman Islands and German citizenship. However, Arab investors and families are pursuing Caribbean citizenship programmes given their suitable processing time and reasonable investment schemes.

Investors and high-net-worth individuals interested in obtaining an alternative citizenship and powerful passport are encouraged to contact Bluemina Citizenship and Residency by Investment, a government-approved and licensed firm since 1997. Bluemina offers leading citizenship and permanent residence by investment programmes to individuals and families around the world, and their team of expert and legal consultants will advise investors on the most suitable programme.

To guarantee a brighter future for you and your family, visit one of Bluemina’s regional offices located in UAE, Qatar, Egypt, Jordan, Palestine, Iraq and Kurdistan, or check out their virtual office experience to apply successfully to any of these programmes.

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