Traveling is part of every global entrepreneur’s regular schedule.
If you own a multinational corporation, you frequently conduct numerous business activities in different countries, such as visiting your various offices, hiring executive-level employees, opening new branches, and acquiring new ventures.
Although these business trips are productive and exciting, they can also be exhausting. You need to apply for entry visas months before you travel to ensure you can go to your destination.
You may also encounter a few hassles at the airport if you decide to get a visa when you arrive at your destination. Applying for an extension if you choose to extend your stay may also pose some challenges.
Experiencing Smoother Journeys With the Right Passport
When you are a global entrepreneur, having the right passport can help you overcome various hurdles that come with being a frequent flyer.
With the right passport, you can go to different countries visa-free. This means you won’t have to spend time and money applying for a visa before your flight.
Migrate World, headquartered in Dubai helps you with second citizenship programs that enable you to obtain another passport legally.
Various countries have second citizenship programs that allow foreigners to be citizens of their nations. Most of these countries have passports that are considered powerful in the world. When you have one of these, you will enjoy plenty of benefits that go beyond travel-related ones.
If you want to know what benefits you can enjoy when you get a passport through a second citizenship program, read them below:
- You can get your second passport within months.
If you are not satisfied with your current passport and want to have a new one for your frequent flights as fast as possible, you can get another one legally within half a year through a second citizenship program.
Countries that offer citizenship programs grant passports to qualified applicants within six months or less. As long as you meet all the requirements and submit the necessary documents, you can get your travel document within this period.
Moreover, applicants are not required to be in the country during the application process. This means that you won’t have to travel to submit a document or attend an interview.
If you work with a citizenship consultant, they can submit all your requirements on your behalf and act as your representative. Additionally, they will give you regular updates, which means you can go about your usual activities and not be bothered by certain processes.
- You can enjoy visa-free travel to numerous countries, including certain key locations.
The most significant benefit you can reap when you have a second passport is visa-free travel or visa-upon-entry to key locations.
Many countries that offer second citizenship programs have passports that are considered the most powerful in the world.
For instance, Cyprus, which currently ranks 12th on the Henley Passport Index, has a citizenship by investment program or CIP. A passport from this country gives you visa-free entry to more than 159 countries.
St. Kitts and Nevis, on the other hand, currently ranks 24th on the same index. Holders of this passport can enjoy visa-free travel to more than 131 countries.
Countries that allow visa-free entry to Cyprus and St. Kitts and Nevis passport holders include the UK, the Schengen Zone, Hong Kong, and Singapore.
When you obtain a passport from the countries that offer CIPs, you can enjoy more freedom of movement across the world.
- You gain access to more investment and banking opportunities.
The right second passport gives you more opportunities to conduct business and investment activities in different countries.
Not all countries allow foreign investments from certain nations. If there is a particular market you are finding difficult to break into, your second passport may just turn things around.
Because of this, you will be able to invest in profitable markets that you otherwise can’t do now with your current passport. Moreover, you will have more opportunities to access generous interest and exchange rates.
Second citizenship programs also have business and real estate investment routes. As such, you will be able to own a residential or commercial property, which you can turn into a rental to gain an additional income stream.
Turning a residential property into a holiday or long-term rental is one of the best tips you can follow if you are still carving out your own path as an entrepreneur.
- You can experience life-long dual citizenship.
Obtaining a passport through a citizenship by investment program gives you the privilege of having dual citizenship.
Through this program, you can have and use two passports without renouncing your current nationality. Because of this, you can choose which one to use for your business travels and other purposes.
This perk also allows you to stay as long as you want in both countries that issued you a passport. For instance, if you acquired an Antigua and Barbuda passport through a CIP, you can stay in this country for as long as you want anytime.
You can also enjoy this same benefit in your home country.
Additionally, your dual citizenship enables you to enjoy the other benefits that both countries offer.
- You can get access to tax, generational, and lifestyle benefits.
When you have another citizenship, it means you can enjoy twice the benefits. This is because you will be privy to tax, generational, and lifestyle benefits provided in your home country and the nation that issued your second passport.
This means that you can experience greater tax efficiency.
Nearly all countries that have second citizenship programs offer lower tax rates. They also withhold capital gains, wealth, inheritance, and estate taxes on their new citizens.
Additionally, second passport programs grant dual citizenship to your immediate family. Your spouse and children can also get a new passport from the issuing country, which they can use throughout their lifetime.
Also, most of the countries that offer second passport programs are well-known holiday destinations. These include Antigua and Barbuda, Dominica, Grenada, St. Kitts and Nevis, and St. Lucia, five of the most beautiful island nations in the Caribbean.
Cyprus, Moldova, Turkey, and Vanuatu, are also amazing destinations for a holiday all year round.
These countries are also excellent retirement destinations. Since you are already a passport-holder of this nation, you can retire here when you are ready to enjoy your golden years.
These benefits are too good to pass up if you are a global entrepreneur. If you want to experience these perks, speak with a citizenship consultant to know how you can start your application.