Second Passports and Citizenship

There are a multitude of reasons why obtaining a second passport or citizenship (dual nationality) may be a smart move. Many people live quite happily their whole lives as citizens of the country in which they were born. Others build up 'passport portfolios' which allow them to travel, invest, and minimise taxes to their best advantage. Which lifestyle you choose is up to you.

However, if any or all of the following apply, you might want to consider very seriously obtaining a legal second citizenship:

Political instability in your country makes obtaining visas for travel difficult or impossible

Your assets are at risk of litigation

The tax burden in your 'home' country is unnecessarily high

Your present passport may put you at risk from hijackers and terrorists while travelling

You are subjected to punitive currency controls

Your freedom to work, invest, and purchase property where you choose is restricted in any way by your current citizenship.

Not only could a second passport prove useful in terms of making your life easier and help with asset protection, but if you come from a high-risk country, it could even save your life. At the very least, you might sleep better at nights knowing that you have the documentation in place in case you ever need it.

But how do you go about getting one?

There are basically only three legitimate ways of obtaining a second passport (and some not quite so legitimate, about which more later).

The first is through your ancestors. In North America, for example, many people are qualified for a second passport without even knowing it! If your parents or grandparents immigrated from Europe, there are good chances you could qualify for a coveted European Union passport.

The second way, is by buying a fast-track second passport. There are two countries on earth today where you can buy a passport completely legally, provided you pass certain basic qualifications (such as not being a criminal). You can read an article about these so-called Economic Citizenship programs.

The third way to obtain a second passport is through naturalization. Some countries are much more liberal than others when it comes to allowing foreigners to qualify as citizens. Dominican Republic is the most liberal.