This piece is centred on 5 easiest countries to obtain a second passport. We strongly believed that as the world is fastly becoming a global village and the rate at which youngsters are moving globally travelling far away from their country of birth, one can conclude that its absolute stupidity to box yourself into a corner by staying in a country that is not planning for the future. Sometimes, to be the very best you have to leave your comfort zone.
Secondly, it’s smart to take advantage of today’s possibilities in order to get the benefit of what is possible currently that may be impossible in the near future.
Thirdly, countries are increasingly tighten their border that being a citizen of certain countries is becoming a privilege, that the smartest thing to do is to get a second passport that enables you freedom of visa-free entry into many advanced countries therefore release you from problems of struggling for visas at foreign embassies qand importantly release you from a country where you may be in bondage due to excessive tax payments or bad administration.
Let’s take a look at 5 countries where it’s possible to get a second passport, despite the fact that you may not be a millionaire.
Our first pick is Latvia a country located in northeastern Europe, bordering the Baltic Sea. Latvia offers one of the most attractive second citizenship or passport options.
There are three ways you can fast track your citizenship if you choose Latvia.
1. By buying real estate. This program allows a foreigner option of buying real estate anywhere within Latvia territory and automatically obtain a five years temporary residence permit.
Currently, the minimum investment in real estate is about 350,000 US dollars.
2. Starting a Business: The second program is to start your own business and obtain residency based on the facts that you are the owner. The clause is that you require a minimum investment of about 50,000 US dollars but may attract about 40,000 US dollars per annum. However, if you can invest more money, say about 200,000 US dollars the tax is automatically reduced.
3. Make a Bank deposit: To obtain the second residency in Latvia a foreigner can deposit the sum of 400,00 US dollars in Latvia as a fixed deposit for five years and you’re qualified to obtain residency.
Paraguay a country situated in the continent of South America and a preferred destination for many tourists from all over the world is one of the easiest countries to seek for a second passport.
If you prefer a place in South America, choose Paraguay.
Paraguay presents you with one of the cheapest citizenship by investment in the world. All you have to do is to provide $5,000 US dollars bank deposit and be residing in the country legally for a few years, you’re qualified to obtain Paraguay citizenship.
The beauty of processing Paraguayan citizenship is that there is no discrimination on the country of origin and no language requirement.
You will also enjoy the freedom of travelling visa-free to many important countries in the world.
Dominica an English-speaking country in the Caribbean Sea is another country worth consideration when choosing a country for the second passport.
The advantage of having Dominica passport is the freedom of travelling visa-free or visa on arrival to about 122 countries including most of the European countries popularly called the Schengen area and your unhindered entry into Swiss confederation and more.
The hurdles you have to scale is to provide an investment of $100,000 US dollars and pay other requirements fee which you have to allow a knowledgeable agent to handle for you while you’re relaxing.
The only time your presence is needed is at the interview stage and when a background check and medical examination is needed.
Due to the fact that you must appear personally for the interview, and the committee meets only once a month getting your passport may take up to 14 months.
Furthermore, if you’re interested in investing in real estate or buying a property you will need a minimum of $200,000 US dollars.
Republic of Guatemala a country located in Central America is our next stop in searching for a second passport. A country with an inexpensive standard of living and low tax administration.
Guatemala citizenship investment program worth consideration in that with $50,000 USD an interested applicant can buy government bonds which automatically qualified the person to apply for citizenship and Guatemalan passport. This should be undertaking with a minimum of five years period.
Furthermore, during the processing period, you must be ready to stay in Guatemala for a minimum of 21 days.
It’s good to add that interested applicant must be an adult of at least 18 years of age.
Other advantages of having a Guatemalan passport is the freedom of travelling to over 116 countries visa-free or visa on arrival, including most of the western European countries.
The more the search for 5 easiest countries to obtain a second passport, the more we realised that it may be easy but increasingly expensive to get, hence they are not coming cheap to obtain.
Our last stop is Grenada the Island country situated in the Caribbean Sea, near Trinidad and Tobago.
The Grenada citizenship by investment program offers you two approaches.
1. National Transformation Fund (NTF) approach – This is a one-time contribution to the NTF. Under this approach, an applicant is expected to make a minimum contribution of $150,000 US dollars to qualify.
This is the most popular program in Grenada citizenship by investment. It was established in 2013.
2. Investment In Pre-approved Real Estate approach. Under this system, an applicant is expected to buy real estate or invest $350,000 minimum, and keep the ownership for a minimum period of 3 years.
The main requirements include, be an adult of 18 years and above, be of good character, be able to proof the source of income and pass a detailed background check.
When your citizenship application is approved, you’ll enjoy the benefits of a full citizen of Grenada and have the freedom of travelling to about 147 countries visa-free or visa on arrival including all Schengen areas, UK, Switzerland and Russia. It’s doubtful if you can get a better deal elsewhere.
THE BOTTOM LINE ON 5 EASIEST COUNTRIES TO OBTAIN A SECOND PASSPORT
In your quest to obtain a second passport for a better life, you need to relax and wait for a while due to the current happenings in the world. Most of the countries we described above are currently experiencing the issue of coronavirus pandemic, it may be impossible to travel currently, therefore the best thing to do now is to put on hold all your plan to obtain a second passport.
That’s all for now on 5 easiest countries to obtain a second passport.
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