The term “citizen of the world” seems a romantic ideal for cosmopolitan; however, today this fantasy has come quite true. Now to become a citizen of several states at once is easier than ever. To receive a new citizenship it is enough to be born on the territory of another country, get married to its citizen or be a descendant of its residents. The most countries have got their own many-year naturalization programs. Some countries with sunny climate and access to ocean offer the second citizenship in return for investments in their economy or in real property.
To avoid confusion, it is worth to make it clear what is the difference between the second (third, etc.) citizenship.
Dual Citizenship
Every country recognizes an individual as both its citizen and a citizen of the second state. So, a holder of two passports may “do his/her duty” to only one of the states, e.g. to serve in the army of one state only. The states should have a relevant treaty, e.g. Russia concluded such treaty with Tajikistan.
Second Citizenship
Every state recognizes an individual as its citizen, independent of his/her relationships with other states. A citizen has his/her duties before both the countries. Some states do not recognize the right for multiple citizenship, while other states provide such possibility, but with reservations and limitations. For example, Germany requires abandoning the former passport, while Spain is ready to “share” its subjects with Portugal and South American countries. The US expects every new citizen to swear a formal oath, but it is rather a ritual and not a legal procedure. The Russian Federation has no obstacles for getting the second citizenship, but it requires that relevant authorities be notified if and when an individual gets an additional passport.
If, to conduct business, “any” second citizenship is necessary, any person selecting a country should account of the following issues:
Freedom of Travel
It is obvious that a dual citizen may freely travel between the countries that recognize this individual as its citizen; however, real possibilities are quite wider. Many states have made visa-free treaties with other states. For example, the US passport serves as a pass to any country within the Schengen Area, the RF passport unlocks borderlines of CIS-states, a citizen of Saint Kitts may freely visit any Commonwealth country. A holder of two passports may travel to any place in the half of the world, without losing time for getting entrance visas and bureaucracy! Besides, the second citizenship entitles an individual to hoist the flag of one of the states on your yacht.
Tax Optimization
The number of taxes largely depends on where a citizen earns his/her income and files the asset and income declarations. Many countries offer profitable conditions to businessmen. For example, if a businessman registers a company in Saint Kitts and receives income beyond the state, he/she is exempted from Capital Gains Tax. VAT in Malta is considerably less than in other countries of Europe.
Education and Career
A “dual citizen” will not have to collect documents and seek material security for getting a Student Visa. For example, a Maltese passport makes it much easier to enter any university in the member countries of Schengen Agreement. The same is the case when you get Working Visas and organize your own company. Many states offer benefits and provide assistance to businessmen.
Protection of Rights
Because of international tensions, the situation in a country may be seriously aggravated. This concerns economics, and politics, and private life of citizens. In such case, the second country may become a “shelter” guaranteeing freedom of travel, integrity of real property and banking accounts.
Comfort and Stability
Being a citizen of many countries, like Saint Lucia and other islands in the Caribbean – is a beautiful opportunity to set up your own place for rest and feel yourself “at home”. Besides, a national passport entitles to use full medical insurance.
Opportunities for Your Family
The states that offer programs “Citizenship for Investments” allow including all your family members in your application. This will somewhat increase a required deposit amount, but passports will be issued in the shortest time (up to several months).