As a European expat in the UAE, it is very important for my business and also for my family to have the opportunity to travel wherever I want with no restrictions. And as a father, giving my children the opportunity to study abroad and guaranteeing them the best education is something that I have at the top of my priorities.
Depending on the country, a second citizenship and passport can give your child greater freedom to travel, less tax liability, college education or access to more affordable healthcare, along with more employment and investment opportunities. Furthermore, your child will be also allowed to work when he grows up in either countries without needing a work permit or visa and can attend school in either country as well. That is to say, a second citizenship will increase your family options and although your child future may seem a long way off, it can be well worth planning ahead.
We cannot forget that in an era of increased political and economic instability, acquiring a second citizenship and passport has become a necessity for many people around the globe. The demand for second citizenship and passports rose significantly after the increased political turmoil that certain parts of the Middle East have been witnessing in recent years.
So, it is very important to consider the factors and the benefits on how a second citizenship could change your child´s life, keeping in mind that the nationality, citizenship and passport can have an impact on the choices and opportunities your child will enjoy in her or his life. Securing their children´s future and freedom to travel is the number one reason that most of my clients choose to invest in a second citizenship. Some of the benefits that you would get having a second citizenship are:
COLLEGE EDUCATION AND JOB PROSPECTS
Holding for example a Cyprus citizenship will give your child the freedom to study, live and work anywhere across the European Union.
We also need to remember that a lot of countries don´t easily grant student visas or work permit extensions to students after they complete courses just because of their nationalities. This can be made simpler and faster holding a nationality of a country not seen as having a high over-stay risk.
Another unfair practice is that some employers base salaries according to the nationality of the employees, so your child can face a disadvantage at the start of their career only because of the passport they hold rather than the merit of their talent and skills.
Another thing we need to keep in mind about this is that the cost of a college education differs widely between countries, and many institutions offer lower rates for citizens of their country.
TRAVEL FREELY ACROSS THE WORLD
Some countries have been historically seen as having high immigration risk and its residents have difficulties in being granted a visa even for leisure trips. The problem could come when your child is in his twenties and he has not already started a professional career, because some countries such as Australia, Canada, the USA or the European Union could see him as risk for them. Having a second citizenship from the Caribbean countries or Cyprus gives your child the freedom to travel with no visa to more than 120 countries and get a visa to others in an easier way.
TWO PASSPORTS, TWO COUNTRIES
As a dual citizen, you will be allowed to carry passports from both countries, so you will be able to travel more easily between them. Having a citizen´s passport eliminates the need for long-stay visas and questions about the purpose of your trip. It also guarantees right of entry to both countries, which can be especially important if you have family to visit, are a student or do business in either country. In short, you always will have a “Plan B”.
AFFORDABLE MEDICAL CARE
Many children require more advanced care due to medical issues that may only be available in the Western countries. Recent travel bans against certain nationalities can restrict your child´s access to a safe medical care at short notice if they are in need of medical support.
So, there you have it: a whistle stops tour of some key benefits of a second citizenship. The world may be getting smaller in terms of telecommunication and airline travel, but there is much more to it than that. The political, geographic, legal and business world is big and complex. And as you can see, there are many potential benefits specially for your family awaiting the ‘global citizen’ and the holder of a 'Golden Visa.'
Thanks to the citizenship by investment programs, families can now get that same sense of security and travel flexibility they want without sacrificing their businesses and careers in their home countries or countries of residence to start all over again in a foreign country.
While gaining second citizenship can be complex and it usually requires a substantial investment along with professional guidance, with the help industry experts it can be a small price to pay for the potential advantages on offer. It opens up a whole new world to your beloved family.