Dateline: New York, USA
As the Pakistani passport landed 77th position on the Passport index list 2021, More Pakistani in search of second passport.
Pakistani passport holder did not require pre-arrival visas and could get visas-on-arrival in any country they wished to travel, including India in 1947 since then the Pakistani passport lost its prestige, where today holding a Pakistani passport granted visa-free to only 6 countries and visa on arrival in 28.
With the current state of the country Pakistan’s political or economic instability, devaluations of PK-Rupees and hampered mobility where Pakistani can travel, many are seeking dual citizenship, often as an new opportunity for their children’s future or to reevaluate their careers and potential business opportunities overseas and the desire to live and move freely around the world.
Why You Need A Second Citizenship?
There are numerous advantages to having a second citizenship and being the owner of the second passport which comes with it. These include:
- Freedom of movement
- Tax reduction
- International business opportunities
- Security
- Better quality of life
Mobility
Not all passports are created equal. Many of the nations which offer the possibility of second citizenship have top tier passports. These stronger passports allow extensive visa-free travel around the world.
If your home country has a particularly weak passport, or it is missing visa-free access to some key countries for your needs, then this alone might be a good enough reason to obtain a stronger second passport.
Tax Strategy
Many people seek second citizenship to minimize their tax burden. This is because most developed Western countries have extremely high tax rates, whereas the countries which offer citizenship by investment mostly have very friendly tax laws.
Some of these countries are genuine tax havens where you can expect to pay zero tax, while others simply offer much lower tax rates than your home nation does.
World Of Opportunities
Having dual citizenship inevitably creates new trade and business opportunities. These opportunities could be both in the country where second citizenship is obtained, as well as in the countries where you have increased access due to having a stronger passport.
Secure Future
In recent times there have been increasing instances of political upheavals, economic meltdowns, natural disasters, pandemics, and other unexpected risks. A second passport is the ultimate safety net in the event of anything going wrong in your home country.
Better Lifestyle
For some, the allure of acquiring second citizenship is simply to provide themselves and their family members access to a country that promises a higher standard of living. Your second citizenship could be found in a country with better quality education, health care, and social security. You can also find many places which are more affordable, have better climates and are all round friendlier and more pleasant to live in.
Buying your way in
Pakistani Government allowing dual citizenship with serval countries, it may be possible to obtain a second citizenship without renouncing the former.
In the past, the traditional ways to acquire second citizenship in a country where one was not born were through ancestral ties, naturalization and/or marriage. However, recent decades have seen the introduction and subsequent expansion of “Citizenship by Investment” programs.
With CIPs, an applicant invests a minimum amount of money in a sponsoring country—usually in real estate, commercial enterprise, development projects, or government bonds—in exchange for permanent residency, citizenship, or both. It’s one way high-net-worth individuals make Plan Bs if they don’t like the direction their home country is headed. The minimum investment amount also varies, with the cheapest options being available in the Caribbean nations starting at USD 100,000.
Getting a second citizenship gives you the right to live in a country and are granted to same rights as a normal citizen. Investing in a second citizenship is an investment in your freedom. Freedom from a single state actor. Having a second citizenship can help to ensure your safety, increase your global mobility as well as offering flexibility in lifestyle choices.
Ready to get started contact us.
0 Comments