For avid travelers who want to visit places or like to reside in a new location, one question remains rampant. How many passports can you hold? Whether you are in Europe or the Caribbean, you have multiple options in residency and citizenship.
Having more than one passport is completely possible, but keep in mind that not all citizenship laws are the same. One country may allow multiple citizenships; another may not. In this post, we will learn how to obtain a second passport in the UK, Portugal, Greece, and St Kitts and the pros and cons of having more than one.
What are the pros and cons of having multiple passports?
With multiple passports comes multiple citizenships. When you have more than one, these are the perks you can get:
- Citizen privileges – This may include the right to vote, have multiple social security systems, and so much more.
- Property ownership – Imagine having properties and land you can call your own in the country you desire. Keep in mind, though, that this may come with limitations.
- Freedom to work in the government – Those who are diplomats or military personnel are only allowed to use their government-issued passports. These professions require business passports different from the passports used for leisure.
- Cultural education – You will be immersed in the culture of the countries you are a citizen in. With multiple passports, you have the opportunity to learn multiple languages, learn about their history and experience diverse cultures.
As for the cons, here are a few:
- More obligations – As a citizen in more than one country, you are bound by more laws. This means more rules to follow and take into consideration.
- More taxes – Income and properties are subject to taxes. Expect to pay after owning property or working in a different country.
- Employment barriers – If you want a position with the government or any job that requires access to classified information, you may not be eligible to be hired for the job with dual citizenship.
In the UK, you can get two or more passports, depending on your citizenship. For example, if you have British parents but were born somewhere else, you may be privileged to obtain a passport from both countries.
The path to the British passport might be long and complicated, but you can still find different visa options that will lead you to the residency first and then ultimately citizenship. If you are an investor or entrepreneur, you can apply for the Innovator Visa or Sole Representative Visa.
In Portugal, dual citizenship is allowed. This allows foreigners to gain citizenship without giving up their nationality in their home country. However, your country must also permit dual citizenship in order to secure one.
To get a second Portuguese passport, you must do the following steps:
- Get a valid passport, documented source of investment funds and proof of no criminal record.
- Stay in Portugal for at least 6 years.
- Invest EUR 500,000 in a small or medium-sized business or at least EUR 280,000 in a property situated in a low population area.
According to Greek law, dual citizenship is allowed in this country. A citizen will not lose their nationality after getting second citizenship unless a renunciation request has been made.
To obtain a second passport in Greece, you need to secure the following:
- Primary passport with full validity
- Two passport-sized photographs
- A company statement supporting your second passport application
- An application fee
- A fully-accomplished Form DS-82
Greece allows also the Residency by Investment option which with a minimum investment of 250.000 EUR will lead to 5 years PR and ultimately Citizenship after another 2 years.
St. Kitts and Nevis
The government of St Kitts has no limitations on dual citizenship. Also, they do not report citizenship information to other nations. Passport holders in St. Kitts are privileged with full Schengen rights and the freedom to travel to around 156 countries across the globe, either on a visa-free or visa-on-entry basis. Above all, you don’t need a visa to visit the UK.
Secure a second passport at St. Kitts by doing any of the following:
- Make a US$150,000 contribution to the Sustainable Growth Fund (SGF)
- Invest at least US$400,000 in approved property development while applying as a single investor
- Invest in a US$200,000 in a government-approved new luxury real estate
Despite the cons, having a second passport comes with rewarding benefits. It can make life so much easier for you and your family. Learn the rules and best investment options in the country you want to move into. Get in touch with us today https://citizen.chestertons.com/contact-us