Why would somebody want to acquire Citizenship through the Antigua & Barbuda Citizenship By Investment? Put simply there are numerous reasons for someone to want an economic citizenship. The benefits of dual or multiple citizenship range from ease of movement where there is political strife in one’s own country and investment planning and personal security.
Below are some reasons as to why someone would need another passport?:
- Your passport has to be renewed or extended frequently
- Your passport could be renounced or cancelled by your Government
- Your nationality limits your investment and business abilities
- Your Government levies taxation on your income, assets and capital worldwide
- Your nationality makes you a target for terrorists
- Your Government controls, limits and requires that you register your traveling
- Your passport shows that you are a citizen of an unpopular country that causes a preconceived or negative attitude towards you
- Your nationality forces you and your children to serve in the army
- Your nationality or passport limits your freedom of traveling
- Your state is politically unstable
- You would like to change the address of your permanent residency
- You want to insure your family against unforeseeable misfortune
- Convenience: High net worth citizens of some countries spend considerable amounts of time obtaining visas from other countries. In addition to the time involved in the process, and the uncertainty, is the fact that some countries only offer single entry visas. Where travel may be required on short notice, access to another passport may be crucial such as in the case of civil unrest. Additionally, a second passport may afford the holder visa-free travel to jurisdictions not available to his or her country of birth.
- Tax Planning: Several countries levy income tax on non-resident citizens. Alternative citizenship has therefore become increasingly important as an effective tool for international tax planning. As a national of two or more states, an individual generally has more planning options as well as more privacy in banking and investment.
- Personal Security: Citizenship and a passport from a small peaceful country is considered by some as a form of protection when travelling, particularly in times of political unrest, civil war, terrorism or other delicate situations. Many international business executives consider an alternative passport as the best life insurance.
- Investment in the Future: In a dynamic political and economic environment, acquiring a second citizenship may be considered an investment for the future and in many instances, there is no need to give up one’s present nationality while one, along with his family, enjoys the benefits of a legal second passport.