Ownership of a second passport is fast becoming de-rigueur in the worlds of foreign business, finance and investment. However second citizenship is far more than a fashion-accessory; ownership of the right second passport can literally be the difference between success and failure for an individual or company looking to expand or even safeguard assets.

Second-citizenship is now a multi-billion dollar industry, with more countries opening their doors to Citizenship by Investment programs annually. The choice of locations for new passports is becoming mind-blowing the E.U, the Caribbean, Central America, Russia, the USA all offer programs so which one (or two) is best for you?

Here, 2ndPassports.com provides you with the basic means to assess which second passport would work best for you.

 

Your Current Citizenship

As of right now, no single-passport ticks all the boxes when it comes to desirability in the business world, and if there suddenly was one that granted the holder unlimited travel and locations to live and work plus access to the world’s best tax-havens and banks – whichever country produced it would make an awful lot of money.

In the meantime, individuals need to target the passport that works best for them, in regard of how their current citizenship limits their opportunities.

 

Middle-East

There is a multitude of high-flying business people in the Middle-East both established and up-and-coming – and with the ending of Western sanctions in Iran, that number is going to get a whole lot bigger. The problem is traditionally, Middle-Eastern passports are among the poorest performing in the world i.e. ownership of an Arab passport will get the owner into very few countries in the world without a visa. Even a Saudi Arabian passport has access to just 70 countries visa-free.

That said, many Middle-Eastern passports have visa-free access to the Caribbean tax-haven and discreet banking nations including St Kitts and Nevis, Saint Lucia and Dominica, so there is no real need to apply for a passport to one of these countries.

The E.U passport is far more desirable, as it gives the owner access to an average 170+ countries worldwide, making it perfect for business. An E.U passport holder can also live and work in any country in Western Europe for as long as they wish, which means for example if you acquire Maltese citizenship, even though Malta is one of the smallest nations in the E.U you can then go and live and work in Germany, France or the UK the three largest economies in Europe for as long as you so wish.

 

China

While China’s economy continues to grow at a greater rate than any other major country, and the percentage of wealthy Chinese accelerates (213 billionaires, 3.6 million millionaires, 4.4 million wealthy households), all is not quite rosy in the Chinese garden.

China’s human-rights record remains an issue, and even its wealthiest citizens retain a constant fear of falling foul of the authorities and suffering indefinite incarceration. Despite China remaining a police state, its vast size and enormous population means that organized crime continues to flourish. Added to those problems is the increasingly serious issue of poisonous levels of pollution in China’s cities and towns.

The Chinese passport grants the holder access to a paltry 52 countries worldwide, making it a particularly ineffective tool for aspiring entrepreneurs looking toward global expansion.

The citizenship and passport of choice for many wealthy Chinese migrants is that of neighbors Russia, and 2ndPassports.com can Fast Track Chinese applications for Russian citizenship so that the process is completed inside of 45 days.

For those Chinese looking further-afield, there are a host of enticing E.U Citizenship by Investment programs featured on the 2ndPassports.com homepage that vary in investment and commitment, but all in the same result that precious E.U passport.

 

India and Pakistan

Indian passport holders have access to just 52 countries, while neighbors Pakistan have the fourth-worst performing passport in the world, with only 37 countries available to visit visa-free. While the Indian passport grants the holder access to several of the Caribbean tax-havens, it severely limits the holder the opportunity to maximize their earning potential worldwide. Therefore the passport of choice for both Pakistanis and Indians would be one from the E.U, ideally that of the UK because of the strong Commonwealth ties, plus large ethnic communities already established.

 

Africa

As a continent Africa fairs even worse than the Middle East when it comes to collective passport rankings. The best rated African passport is that of South Africa which has access to a respectable 97 countries, but the bulk of the continent’s other countries including Niger, Mali, Togo, Mozambique, Nigeria, Central African Republic, Algeria, Liberia, Rwanda, Congo and Cameroon have access to less than 60 countries. The worst performing African nation is Somalia, with just 33 countries.

Once again, the passport that will best suit high net-worth Africans looking to expand their business and investment portfolio is that of the E.U, but for those looking for a permanent move, a citizenship program for the USA could be the better option.

 

E.U and the U.S.A

At first glance this might seem a case of what do you get the person who’s got everything, because E.U and US citizens already possess passports which are the most desirable in the world in terms of the countries they can access visa-free, and the sheer prestige they grant the holder.

However, two-things are increasingly becoming a major problem for high earners in the US and Western Europe; crippling taxation and transparent banking.

 

Tax-Havens

Many business people are only too aware that in order to be able to hold on to their assets and expand in the future they need a safe-haven for their capital, and that’s where countries that are recognized tax-havens come in.

2ndPassports.com features several excellent second citizenship programs on their homepage for nations which are recognized and respected by wealthy individuals and powerful corporations for their creative banking skills and minimum levels of taxation. These programs include Guatemala, Dominica, St Kitts and Nevis, Antigua and Barbuda, and most recently of all, Saint Lucia. All offer wealthy Americans and Europeans the opportunity for easy dual citizenship, and the resulting benefits of discreet banking systems created specifically for the protection of assets, not to mention low taxes.

No matter your present status, never doubt for a second the huge difference a second citizenship will make for yourself and your family.

 

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Which Second Passports Best Suits My Purpose?
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Which Second Passports Best Suits My Purpose?
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Ownership of a second passport is fast becoming “de-rigueur” in the worlds of foreign business, finance and investment. However second citizenship is far more than a fashion-accessory; ownership of the right second passport can literally be the difference between success and failure for an individual or company looking to expand or even safeguard assets.
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