In the last 10 to 15 years, political, economic and security issues around the world has triggered the quest to obtain a second passport in order to bypass unexpected visa ban and travel restrictions as governments are constantly implementing immigration policies to protect their borders and curb the mass influx of migrants from poor, terrorism prone and war ravaged countries.
Between 2015 and 2019, high net worth individuals (HNWI) and their families, (including low and middle income earners) from around the world spent millions of dollars to get permanent resident permits — which will lead to obtaining a second passport (within few months or under 5 years) in a country with good economy, political stability and high quality of life.
Related: The Greatest Passports of the Decade
The U.S. passport is the most coveted travel document in the world, even though the U.S passport currently ranks No. 4 in the Global Passport Power Rank 2020, most immigrants still prefers the U.S. passport due to the vibrant U.S. economy and quality of life.
What is Dual Citizenship?
Multiple citizenship, dual citizenship, multiple nationality or dual nationality, is a person’s citizenship status, in which a person is concurrently regarded as a citizen of more than one country under the laws of those countries.
Dual citizenship allows a person to be a citizen of more than one country. Many countries around the world allow dual citizenship. Others, however, require its citizens to renounce all citizenship of other nations. Other nations deny citizenship in order to control multiple citizenship.
Each country has its own laws regarding citizenship. In nations where it’s allowed, a person can hold multiple citizenship simultaneously if the criteria of each country is met.
Here are the list of countries that allows dual citizenship as per 2019 data:
|Albania||Belize||Czech Republic||Israel||Nigeria||South Africa|
|Antigua & Barbuda||Brazil||Finland||Kosovo||Panama*||Sweden|
|Barbados||Costa Rica||Hungary||Malta||Romania||United Kingdom|
|Belgium||Cyprus||Ireland||New Zealand||Slovenia||United States of America|
Countries that don’t allow Dual Citizenship
|China||Japan||Poland||United Arab Emirates|
Benefits of Dual Citizenship
1. Global Mobility (Travel Freedom)
2. Business Opportunities
3. Wealth Creation via Tax Optimization
4. Security and Peace of Mind
5. Quality of Life