Five Factors To Consider Before Applying For Second Citizenship
Most wealthy individuals from developing countries longing for freedom and respect for their basic rights dream of acquiring second citizenship. Annually, tens of thousands of affluent people residing in countries such as China, India, Pakistan, Iran, Iraq, Afghanistan, Nigeria and Somalia enter into government sponsored official programs to liberate themselves from the constraints imposed by governments, benefit from opportunities absent in their home country, avoid being judged on their original citizenship and travel to other countries unlimitedly and without obtaining a visa. However, some factors should be taken into account before carrying out any decision, without which the desired results are unlikely to occur. Obtaining second citizenship is not an exception and we invite you to reflect on the following factors before taking such crucial decision.
In determining what country is the best choice for a second citizenship, the applicant must decide if he/she intends to live in the country chosen for second citizenship on a permanent basis or if he/she merely seeks to obtain a second citizenship as a means to an end (i.e. for purposes of expanding his/her business internationally). Should the former be true and the applicant’s family are to accompany him/her, he/she should select the best available option while being mindful of his/her family circumstances and criteria. In this scenario, factors such as climate, language, social services, standard of living and political situation of the country should be evaluated before coming to a final conclusion. For instance, an applicant may deem Canada appropriate for investment purposes but Canada’s cold weather may be intolerable for his/her old parents.
Giving Up Original Nationality
Countries such as Spain do not recognize dual citizenship and require individuals to renounce their original citizenship. Thus, if you are enthusiastic to take advantage of the benefits membership of the EU brings as well as owning the third most powerful passport in the world, you would have no option but to renounce your original citizenship. This is one of the most important factors to be aware of.
Being equipped with considerable budget can pave the way for a second citizenship and those lacking financial security are excluded from the privileges offered by a second citizenship. For instance, Malta’s investment program, one of the cheapest programs for obtaining second citizenship, requires an investment of at least 1.2 million Euros.
Fortunately, investors can recoup their initial investment capital after five years on average while making profits on their investments as well as gaining second citizenship. However, such a rule does not apply in cases where second citizenship has been acquired through charitable donation.
Depending on your available funds, gaining citizenship to an EU country can take anywhere from several months to approximately six years.
Generally, individuals have to satisfy the requirement of five years of temporary residency before applying for permanent residency. They should then spend a year as a permanent resident in that country in order to be qualified to apply for citizenship.
Police and Criminal Records
Police and criminal records can minimize, if not completely eliminate, your chances of obtaining a second citizenship. All of the countries offering second citizenship programs do not confer dual citizenship to a foreign national unless they are convinced that such person has been law-abiding. Such a determination will be made after conducting a thorough and in-depth background check. Therefore, those desiring to escape their criminal past by obtaining a second citizenship, should reconsider their decision. If you have been convicted of serious crimes, any citizenship or residency application through investment programs could be dead in the water before it even begins.
If you have a criminal conviction, contact us at [email protected] to check your eligibility for the second citizenship program. The shared information will be kept strictly confidential.
We at CitizenMatch are here to answer any questions you may have on what will undoubtedly be one of the most important decisions and events in your lifetime. Opportunity does not knock twice. Thus, seize this golden opportunity before it is too late. You owe it to yourself to make your future great and live a life full of happiness and joy, open the door to a better life by acquiring dual citizenship.