Things are changing very fast around the world. The world is full of political conflicts and having a second option is always a lucrative alternative. Did you know that with a little investment in another country, you can get to be a citizen of that country in as little as 3 months? Well, this new form of citizenship by investment is happening around the world. A typical example would by the paradise island nation of St. Kitts and Nevis.
Located in the Caribbean, this country allows foreigners and their families to inheret st kitts and nevis citizenship by investing in real estate or donating to the sugar industry diversification foundation (SIDF). This is a program that has been put in place to assist displaced and retired sugar workers. You can buy at least $400,000 in st kitts real estate on the islands or make a donation of at least $250,000. There are other countries such as Dominica where the basic investment price is $75,000 although its passport is not as valuable as that of St. Kitts and Nevis for international travel.
Let us take a look at a number of the benefits you enjoy when you have a second passport. In our particular case, we will be looking at St. Kitts and Nevis though other countries will be mentioned as well.
For starters, having a passport from this country gives you the freedom to travel visa free to more than 130 countries all over the world including the whole of Europe and Canada. This country also happens to have very lucrative tax allowances. For instance, there is no gift, inheritance or wealth tax. Foreign capital and capital gains are also not considered to be taxes and all the other tax terms in this country are very generous. You can also trade duty free in the Caribbean and tax free with Canada. With a passport from this nation, getting a visa elsewhere becomes much easier which is a great thing when you are looking to go globe-trotting.
You also don’t have to reside in this country unless you choose to. When you choose to stay here with your family, you get to enjoy a great lifestyle, a stable and safe environment as well as international education opportunities for your kids.
A second passport can actually save your life in some situations. For instance, you may be caught up in a violent situation in a foreign country and showing a passport from a neutral country will get you away scot free. In case you decide to renounce the citizenship of your first country for any number of reasons, you always have an option with your second passport.
As you have seen in the previous sections, there is a lot that you and your family stand to gain from by having a second citizenship. It can save your life, give you more internationalization options and keep you safe when you are caught up in a sticky situation. With some investment in the country you wish to be a citizen of, the process is much simpler and takes a very short time.