In 2022, the EU Commission urged Member States to cease existing citizenship-by-investment programs by raising concerns on border policy, mainly highlighted by the Russian aggression issue against Ukraine.
The EU also remarked before that such programs may not be transparent for security and the core values of the European Union.
The EU has previously stated that such programs are a danger to transparency, security, and the core values of the European Union. As of 2023, we have seen that countries like Ireland and Portugal withdrew from the program.
Considering this fast-changing world, as humans, we start paying attention to guaranteeing our quality of life for the following years through the urge that might be coming from our desire to maintain our wealth by investing in the market or seeking new opportunities to enhance our quality of life.
Dual citizenship will always bring you relief and benefits.
We often denote that obtaining citizenship in another country will bring you rights to live and work just like native-born people. Let us elaborate on these benefits:
Firstly, the beneficiary will have psychological relief. We must guarantee a Plan B as a safe zone due to the current changes in the world. That is why dual citizenship holders will have a stress-free mindset in this sense.
Secondly, dual citizenship is a gateway to increased freedom of mobility. It will allow you to travel to certain territories visa-free. Some countries like Spain, Germany, Austria, and Belgium are among the most powerful passports in the world. For example, if you apply for the Grenada CBI program and eventually get citizenship, you can travel to over 140 countries visa-free. This number goes up to more than 180 for Malta. So, your work-related vacations would take less effort, and you would save money on visa application fees.
Thirdly, it will enable you to double your network and take the best out of social benefits in the educational and healthcare field, enhancing your family’s quality of life.
Another benefit is that you can grow your business in the market through new business opportunities. Having dual citizenship legalizes working and starting a business in that country.
Lastly, some countries offer relocating startups and businesses tax reductions and sometimes exempt them from tax altogether. Often benefits outweigh the disadvantages of second citizenship as it will grant you health, tax, and work benefits, guaranteeing a second life for yourself.
