Why You Need to Get a Second Citizenship in2022
There are many benefits of having a second passport. These include more freedom and less taxes. A second passport is the ultimate freedom insurance policy. That’s why it’s important t get one well before you need it. There’s no point in waiting until trouble arrives. When you most need it, it won’t be available at any price.
So, what are the benefits of having a second passport?
It Forms the Foundation of Your Back Up Plan
Having multiple citizenships forms the very foundation of your backup plan. In today’s tumultuous world it’s never been more important to have a backup plan. Once free countries are turning towards tyranny. Australia and New Zealand have banned international travel for most people. For the past 18 months, it’s been difficult to enter Australia even for Australian citizens. This could be the direction of travel for other countries. No freedom-loving person wants to be stuck in one place forever. One of the benefits of having a second passport is that these kinds of restrictions won’t apply to you.
You Will Always Have Somewhere to Go
Another of the benefits of having a second passport is that you’ll always have somewhere to go. You’ll have a safe haven that will always welcome you home. A second passport’s not like a residence permit. These are valuable but can always be canceled. A second passport is something that you have for life. You can even pass it on to your children and grandchildren.
You Can Eliminate Most Taxes
If you plan your affairs properly, one of the benefits of having a second passport is that you can legally eliminate most taxes. You can even reclaim sales taxes like VAT when you travel between your countries of citizenship. Provided you don’t spend more than 6 months per year in any one country you can structure your life to be tax-free.
This applies to most nationalities other than US citizens. But even US citizens can claim generous tax exemptions. They can structure themselves to pay minimal amounts of tax. If you want to avoid filing tax returns as a US citizen, you’ll have to renounce your US citizenship. You also must pay an exit tax based on your net worth. You’ll at least have that option with a second citizenship.
Increase Travel Opportunities
One benefit of building a portfolio of citizenships is that you will increase your opportunities for visa-free travel. Most western passports don’t offer visa-free access to Russia or China, for example. But get yourself a Latin American, Eastern European, or even a Caribbean citizenship. You can fill in the gaps in the visa-free travel available with your western passport.
It Can Save Your Life and Your Freedom
One of the main benefits of having a second passport is that it can save your life in an emergency. If you find yourself in the wrong place at the wrong time, in a hijack situation the last thing you want to do is show your American or Canadian passport. You’ll be much safer to use your Irish or Ecuadorian passport.
Increase Financial Privacy
The financial accounts you open using your second passport will be more private. You might not want your financial transactions reported back to your home country’s government. Particularly if you have the passport of one of the big western countries like the UK or Canada. They will receive all your confidential information under CRS.
Open your financial accounts with your second passport. You’ll be able to avoid that problem and increase your privacy exponentially. A second passport helps to keep your financial affairs between you and your banker. The way it should be. Don’t let the OECD dictate how your financial privacy is handled.
Permits You to Leave Unfree, Locked Down Countries
Over the last 2 years, we’ve seen an unprecedented reduction in freedom in most of the world. We’ve seen many countries banning their citizens from leaving the country. Others have refused to allow citizens back into the country. Australia is the most notable for this. What’s more these insane policies are supported by the majority of the populations. If you have a second passport, you’ll always be able to leave wherever you are. You can never be trapped in any one place.
Allows You to Participate in Financial Opportunities
Many investment opportunities are not available to citizens of certain countries. Particularly US, Canadian, and Eu citizens. This is because issuers don’t want to pay the additional regulatory costs to register their offerings in those countries. I’ve never seen an investment prospectus that tells citizens of countries in Latin America or the Caribbean that their money’s not welcome.
Immunity from Prosecution
Many countries refuse to extradite their own citizens. Even naturalized citizens. This can guarantee your freedom when all seems lost. Countries like France and Brazil will never extradite their own citizens. You just have to make sure you’re in the right place before any trouble starts. Fortunately, there’s always plenty of warning of trouble.
Anyone under any kind of investigation will know months or years in advance of possible trouble. They’ll be able to take action to make sure they keep their liberty. Getting a second passport will take some time though. So, it’s important to start making the necessary arrangements to get your second passport as soon as possible. Even if you never expect any trouble. Nobody can know what the future holds. It’s always better to have that freedom insurance in place well before any storm hits.
The Free Passport Report
Would you like a step-by-step guide on how to enjoy the benefits of having a second passport? And without spending a fortune? If so see our latest report – The Free Passport Report. It details multiple ways you can get a second passport without spending any money. In some cases, without even visiting the countries concerned. You don’t need to have foreign ancestors or spend years living in another country.
You won’t have to learn a new language. This report will take you through the process. It’ll help you decide the best second passport to get for your situation. You can avoid spending money on high-priced lawyers or advisers. This report will guide you through the process. Click here to order now.