Three Factors to Consider When Choosing a Secondary Citizenship Program
A lot of countries across the globe have in place attractive secondary citizenship programs. Through such a scheme, a non-native of a particular country can secure citizenship in a foreign country by making a sizeable investment. Often, these investments are made in the form of a donation to improve the infrastructure within that country. These programs effectively allow those people who currently hold a weak passport and are limited by travel limitations to buying the second passport. If you are planning to utilize a secondary citizenship program to broaden your travel horizons, there are several factors you should consider. In this article, we’re going to be examining them and help you find a program that is suited to you.
Your Current Passport
If you are pursuing an alternate passport via a secondary citizenship program, you should remember to take your nationality into account. If a country is known to have a weak economy or on-going conflict, its citizens are likely to have a difficult time securing a secondary passport. This is ironic, as the citizens of such countries are responsible for the vast majority of secondary passport applications.
Although the UAE is not a site of many conflicts, its residents, mostly those from the expat community, may still run into challenges when applying to secondary citizenship programs. For that reason, we encourage all UAE nationals and residents to seek out a citizenship agency to help them with their application.
Your Financial Situation
Securing a secondary passport can get pretty expensive. This is especially true if you try to do so via a CBI program. Citizenship by investment program expects applicants to make some form of financial contribution to its country of origin. In Antigua and Barbuda, for example, investors have to contribute a sum of 100,000 USD to the country’s National Development Fund in return for citizenship.
Most Citizenship by Investment Programs requires applicants to part with at least 100,000 USD. Some CBIs can reach more than half a million dollars. If you aren’t in a financial situation to drop that kind of cash, it’s better to stay away.
Your Family Situation
If you are seeking a second passport for your family as opposed to just yourself, you might run into complications. Your application may be approved or denied based on the age of your dependents, their education, and medical needs. If you have a large family, we again suggest consulting a secondary citizenship agency. The professional assigned to your case will help identify any potential problems which may arise during your application process. They will also help to smooth these problems out, ensuring a bright future for yourself, your spouse, and your children.
Source: passpro.co
