The changing scenario of the global economy has made a lot of countries open up to offering investors the option of obtaining dual citizenship. When a person gets the citizenship of another country, a lot of different avenues open up for him in terms of better quality of life, business as well as other investments that he might have in mind. Before we get on to understanding factors to consider, it is important to reach out to a trusted organization that will assist and guide through this entire process and help you get the citizenship in an organized manner. Uno Capital is a credible company which assists, guides and advice through the entire process. Professionals at Uno Capital are there to answer any question that you might have through such an important decision and ensure that you know exactly what you are getting into. Having said this, it is equally important to completely understand the minute details of the program that you are investing in and whether it is the best available choice for you.
Let us look at important factors that potential investors must invest their time while choosing a country for second citizenship.
- Factors pertaining to stability and growth in the country- It is extremely important to do a thorough background check of things like the political scenario, economic condition, way of doing business, legal issues and taxation of that country. Other factors like socio-cultural, climate in that country must also be considered and thoroughly researched.
- Quality of life Index or Standard of living –it is important to know what is the quality of life that people lead there and whether it is suitable for your liking. Aspects such as safety, culture, healthcare and education are some of the top priorities to keep in mind. These factors play an important role in your daily routine and must be seriously taken into consideration.
- Physical presence requirement – certain citizenships do not require that applicant to actually live in that country whereas other countries require that person to stay there for a certain period of time. This, in other words, is known as “physical presence required.” Certain countries are extremely strict about this criteria, while a few others are more lenient. Countries have been known to deny citizenship if a person does not fulfil the 'physical presence required' criterion.
- Travel privileges – passports of certain countries allow its holders to travel to numerous other countries without a visa. If you are a person who loves to travel then this is something that you should definitely check. For someone who already has a strong passport that allows them to move around comparatively freely, this privilege will just be an added bonus. But for others, it is a great benefit and they must really look at this aspect and do thorough research before proceeding.
- What is the investment needed and attached opportunity cost – there are many countries that require a minimum investment to be made for second citizenship. Naturally, the top countries that are the most desired have a large investment cost attached to them, however, the benefits carry an equivalent weight. Along with the investment that you will be making, evaluate the opportunity costs that will be available to you because there are multiple returns that are based on the investment made even within the same country. For such financial decisions, having an advisor like Uno Capital is always a welcome help. They guide you through complicated financial decisions and help you pick the finest investment so that your money is invested in the right place and you get citizenship of a country that you can benefit from.
Apart from the above-mentioned factors, there are other factors as well that differs from the need and expectations of each individual and also of the countries that they have in mind. Each country has its own pros and cons which should be researched about well in advance so that you are aware of exactly what you are getting yourself into. After all, generations after you also enjoy the benefit of your hard-earned second citizenship!