WORLD | PASSPORT | GOVERNMENT | LIFE LESSONS | LIFESTYLE
Reasons and benefits of an additional nationality
Freedom, internationalization, life insurance and more
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Here are 11 reasons for you to think about getting a 2nd passport. Take action and get this political life insurance and means of internationalization.
We’ve seen the hidden but real dangers of only having one passport for international travel and identity. In contrast, I’d like us to consider the benefits of having a second, and, why not, a third citizenship; in other words, the benefits of being a global citizen.
The most obvious benefit of having a second citizenship is that it stops a government from putting you under “house arrest” by taking away your passport or refusing to give you a new one or renew the one you already have.
The less obvious benefit of having a second passport is that you are now a citizen of another country, which allows you to live, travel, maintain bank accounts, invest, do business, have fun, and plan your future.
Is it simple? Perhaps not, but it is doable. Economical? Perhaps not, but it is necessary. And as you go, you can count on My CBS to look at your options and help you make the right decisions, stay on track, and reach your goals.
No matter where a person lives now, they can benefit greatly from the freedom, diversification, and opportunities that come with having a second passport.
Consider the following compelling reasons for obtaining a second passport.
Arguments for and rewards of obtaining an additional passport
Freedom
Getting a second passport is the first and most important step to becoming less dependent on the government. This makes it much harder for the government to control a person’s future.
Internationalization
You can keep bank accounts, hold physical gold, start businesses, and live your life as a citizen of another country if you have a second passport. This makes your life and assets international. It comes the closest to having two identities.
A fuller life
Having a second home frees you from the economic consequences of bad governments, citizen insecurity, unfavorable political climates, persecutions, unfavorable weather (do you suffer in winter or summer? ), and so on. You would have another home that is just as legitimate as the one where you were born, and you would be treated just as well.
Think about the quality of life, medical care, clean air, a better climate for your health or taste, food, access to a better education, and so on as some of the other benefits of having a second passport.
Financial considerations
If you are of Venezuelan nationality, for example, the doors of international banking are practically closed in front of you … but if you are an American, the same doors will also be closed for you, thanks to the implications of arrogant gringo laws like FATCA. A second passport would be the magical “Open Sesame” that would open them wide.
“Geopolitical” reasons
It is easier to “be from another country” when you go to a place or country where one of your nationalities is not well-liked or welcome. You don’t want to be European in Syria or Russian in Ukraine… but we haven’t heard of Peruvians or Vietnamese being held hostage in plane hijackings or other hostage situations.
International mobility is possible.
In another article, we discussed the benefits of one passport over another for visa-free travel. A perfect second passport will grant you visa-free entry to more countries than before.
Argentina, for example, has one of the easiest passports to get. It lets you into 129 countries (including some in Latin America and Europe) without a visa, 41 countries with visas on arrival, and three countries with electronic travel authorization.
Individual Dignity
Due to bad economic conditions in their home countries, which are often caused by the “geniuses” who run their governments, many people are forced to leave. Because of this, millions of people still live without papers or as refugees, and they are often shunned or looked down upon. The countries they move to treat them as second- or third-class “citizens.”
If you get a second passport early enough, you can be sure that you and your family will be able to live with dignity if you need to move to a better place.
Political life insurance
There may come a time when the police, a powerful person, or a group of criminals do not like you. Political persecution is common in almost every country. If you have a second passport, you can simply board the first plane or bus out of the danger zone and settle into your “second” home.
A sensible person understands that a passport represents much more than a person’s place of birth: it is a forced contract of submission to the rules of the issuing government. Even those that are beneficial to you can be changed arbitrarily over time.
Are you willing to be conscripted and sent to a war you oppose, or to give up 75% of your wealth to “save the homeland”?
Taxes
If you live in a high-tax country, taxes may be your main reason for getting a second passport. With the right planning, you can also use your second home to create business and financial opportunities. Consider Paraguay, for example, which has an excellent and appealing tax rate of 10% income tax and 5 to 10% VAT.
Your investments will be safeguarded
With globalization came the need for countries to secure consistent flows of foreign investment. Many countries had to adapt or change their laws in order to provide foreign investors with guarantees and fair treatment.
That’s how Investment Promotion and Protection Treaties (IPPAs) were made to go along with Free Trade Agreements (FTAs). In the absence of such IPPAs, there would be no guarantees against a variety of actions that local governments may take against the investors, their companies, and funds.
And I’m not just talking about direct expropriation; I’m also talking about the indirect one, which occurs through measures or regulations that have the same effects as expropriation.
Having more than one nationality gives you more options when you want to pursue ideas and investments abroad.
Renunciation of one’s native nationality?
In 2015, 4,279 Americans renounced their citizenship, mostly because they were fed up with Uncle Sam’s complicated tax system, with its endless forms to fill out and criminalization of misdemeanors.
More than 30,000 people tried to give up their citizenship in 2021, but the US State Department’s required face-to-face interviews couldn’t happen because of the pandemic.
Among the celebrities who said bye bye to their old passports were:
- Jet Li, the famous actor, “to give a better education to his daughters” in Singapore.
- Eduardo Saverin, co-founder of Facebook, for tax reasons.
- Bobby Fischer, world chess champion, found guilty of traveling to Yugoslavia without permission from his government.
- W.E.B. du Bois, activist, pacifist, and author, because his government confiscated his passport for 8 years and upon getting it back refused to renew it upon expiration.
- Elizabeth Taylor, actress, for tax reasons (she failed to complete the process).
- Tina Turner, singer.
- Denise Rich, songwriter, for tax reasons.
- Gerard Depardieu, actor, for tax reasons (can anyone disagree when a lunatic French President wanted to pass a law to make “the rich” pay 75% tax?).
- Superman, super hero, for political reasons.
Of course, you don’t have to be a celebrity or a super hero to avoid situations in which you must give up your original nationality. You don’t even have to be young: W.E.B. du Bois did it at the age of 93. Remember: nothing is traumatic if you plan ahead of time.
The good news is that renunciation of your original nationality (or any acquired ones) is frequently optional. Indeed, depending on the country that accepts you, you will not be required to renounce your previous citizenship(s), so you can multiply your options by two (or three or more).
Dual citizenship is accepted in 57 jurisdictions¹.
Ancestry and legacy
Your descendants will be able to enjoy the financial, political, and educational diversity that comes with a second and third passport for generations to come because you can give them to your children, who can then give them to their children.
Is it simple? Perhaps not, but it is doable. Economical? Perhaps not, but it is necessary. And as you go, you can count on My CBS to look at your options and help you make the right decisions, stay on track, and reach your goals.
Frequently Asked Questions
Can I have more than one passport?
Having one or more nationalities (and thus passports) other than the one you were born with is not only possible, but also desirable. When getting a second passport, you don’t always have to give up your first citizenship. Also, having a second passport has too many benefits to even think about not getting one.
Which passport should you use when you have dual citizenship?
If you have two or more passports, you most likely have a primary and secondary residence. When using a different passport won’t help you, use the passport for your main place of residence. The advantages of using the others include not having to apply for a visa to the intended country to visit, receiving preferential treatment in the country intended to visit; and so on. Sometimes there are more factors to consider when making a decision.
Which countries do not accept dual citizenship?
This article contains a list of 57 countries that recognize dual citizenship. Andorra, Austria, Estonia, and Malaysia are among the countries that do not accept dual citizenship. You can contact me with your request for a complete list.
Here’s to your future!
— Víctor Tapia —
Thank you for reading this article. If you have any questions or concerns, leave a comment below, I promise to respond.
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COMPLETENESS is the publication that studies the factors that restrict your freedom and prevent you from reaching your financial, health, and wellness goals. It analyzes the alternatives at hand and formulates and discusses actionable strategies.
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Víctor Tapia is a writer who specializes in bitcoin, internationalization, and wellness issues. For his website’s web presence, he writes and edits both English and Spanish articles, guides, and courses. Similarly, he focuses on producing material for other parties and produces Medium stories on various themes related to his field.
Víctor worked for many years in the field of food and beverages, both for the hospitality and food industries. Before founding My CBS in 2002, he was the General Manager at Parmalat S.p.A., the multinational food corporation, at its subsidiary in Curaçao. One of his activities is service coaching in any area of commerce and industry, including food and beverages.
You can get in touch with him on LinkedIn, Twitter, Facebook or Instagram, follow his posts on Medium, Mixturas (Spanish) and Completeness (English), or by visiting his website, My CBS.
¹ Note: The asterisks indicate countries that only accept dual citizenship in limited circumstances.
Algeria, Angola, Antigua & Barbuda, Argentina, Armenia, Australia, Bangladesh, Barbados, Belgium, Belize, Bolivia, Brazil, Bulgaria*, Canada, Chile, Costa Rica, Croatia*, Cyprus, Czech Republic, Denmark, Finland, France, Germany*, Greece, Hungary, Iceland, Ireland, Israel, Italy, Jamaica, Latvia, Luxembourg, Malawi, Malta, Mexico, New Zealand, Nigeria, Norway, Pakistan, Panama*, Peru, Philippines, Portugal, Romania, Russia, Serbia, Slovenia, South Africa, South Korea*, Spain, Sweden, Switzerland, Syria, Turkey, United Kingdom, United States of America and Vanuatu.
Originally published at https://mycbs.biz on January 15, 2009.
