There are countries that simply do not give their citizens a revocation of citizenship. And there are those who allow double and even multiple citizenships. Of course, there are cases that are exempt from this rule, and these are politicians, but also some other classes. But we are not talking about politics.
Everyone has the right to look for a place where they will be comfortable and where they can build their future. But he does not necessarily have to give up the country in which he was born. Dual citizenship gives citizens numerous advantages because they can use the rights that derive from it, starting from the right to vote, or acquisition without restrictions, which is much more difficult if you are not a citizen of that country. It is also possible to be employed in civil services, the right to diplomatic and consular protection, etc.
Why do we even want dual citizenship? The reasons for this are different, some want to buy real estate, some to start a business, relocate, or any other reason. Nowadays, acquiring citizenship through investing is becoming more and more popular, and that is something you achieve through investment programs.
Having two passports means many benefits – traveling to countries without a visa, but also achieving other benefits such as better health care or education.
There are a few things you need to know when it comes to the citizenship program through investment.
1. Inquire in time
Before you start the procedure, it is necessary to inquire about all the details. Some of the most important things are the amount of minimum investment and processing time that varies from one country to another. Thus, in some countries, the minimum investment is 100,000 dollars, and in others, it is a million figure. When we talk about processing time, it can also vary, but in rare cases, it is a period shorter than 3 months.
2. Conditions of stay
Laws vary from country to country. In some countries, it is necessary to live in a certain country for a certain period of time before you get citizenship, while in others you are absolutely not obliged to do so. That is why it is necessary to check the law of the country in which you intend to invest.
3. Sometimes dual citizenship is impossible to obtain
It is important to know that there are those countries that simply do not support dual citizenship, and they can condition you to make a choice – keep the old or embrace the new by renouncing the current citizenship. In any case, consider whether it pays off for you.
4. Investment citizenship – a benefit to the state
The goal is to encourage the world’s most successful entrepreneurs to relocate their companies to another country, bringing in new technologies, innovations, and knowledge, and create new employment opportunities.
Acceptance of dual citizenship has become part of citizenship policy in most countries of the world. Dual citizenship is interpreted as overcoming the limitations of the nation-state and a decisive step towards a post-national world of multiple identities and connections. It turns out that states not only have different attitudes towards dual citizenship, but also that this relationship stems from different and difficult to reconcile national cultural and ideological traditions on which opposing models of citizenship policies grow in which dual citizenship and citizenship have different functions.
5. Employment of workers from abroad
If you are a foreign investor, it is important to know that you have the right to employ workers from abroad without restrictions, unless otherwise determined by special regulations governing the areas of work and employment of foreign persons, if there are no such workers in the domestic labor market.
6. Foreign investment is duty-free
Foreign investment is exempt from customs duties and obligations in accordance with the provisions of the law governing customs policy in many countries. This is great news considering the hefty sums of money that always go to customs and taxes.
7. Taxes
Whether you live in a country or not, but have its citizenship, you are obliged to pay taxes. This means that if the two countries do not have a mutual agreement to avoid paying double taxes, you will do badly.
How many citizenships can you have?
Although there is a term for multiple citizenships, we may disappoint you when we tell you that it is still a synonym for dual citizenship. So, you are only allowed to have two.
All of us who are citizens of a country usually take for granted the rights and obligations that arise for us from citizenship. Most of us are able to enroll children in schools, seek medical help when we are sick, apply for a job vacancy when we have to and vote in parliamentary elections. We feel that we have our role in the state in which we live, that we belong to something much bigger than ourselves. Without citizenship, a person cannot vote in elections in the country in which he or she lives, cannot apply for travel documents, cannot marry. Stateless persons who are outside their country of origin or former permanent residence may sometimes be detained for a long time in shelters for illegal migrants of closed type if their countries of origin or former permanent residence refuse to allow them to re-enter the country.
Final thoughts
Dual citizenship, says this expert, gives numerous advantages to citizens because they can use the rights deriving from it, starting from the right to vote, or acquiring without restrictions, which is much more difficult if you are not a citizen of that country. It is also possible to be employed in civil services, the right to diplomatic and consular protection, etc.
This allows free movement between the state of first and second citizenship. If a citizen has the citizenship of two states, the rights and obligations are granted to him by both states. Permission to legally acquire another citizenship is possible if an agreement has been concluded between the states, where each party assumes the citizenship of both powers. If you want to learn more about this topic, visit https://imperiallegal.com/citizenship-by-investment/
