Acquiring dual citizenship has more advantages than that can meet your eye. While there are an increasing number of countries that are opening up to offer dual citizenship to investors that are interested, there are also an equally rising number of people interested in the same.
However, in this situation, there is more than just the demand and supply match. Families are involved and thus, there is so much more to consider.
There are a number of things that must be measured while choosing a country for second citizenship. For such an important decision, it is always best to reach out to an expert like Uno Capital. They can assist, guide and fulfill all your dreams about getting second citizenship in a country that best suits your needs and wants. Their team of dedicated experts will be there to handhold you through the entire process and make sure that you acquire the second citizenship through the right investment.
Apart from reaching out to an expert and getting them on board, as an individual, there are certain things that you must have in mind about what you want for your family’s future and the best way to ensure that is to review the following points:
Benefits of the second citizenship – certain countries offer citizenships that are applicable only to the primary and the dependent person. There are others that allow it to be extended to parents, children and siblings as well. Keeping in mind the size of your family and the number of citizenships acquired, you can narrow down your options of countries.
Residency or citizenship – what is the main goal with which you are obtaining second citizenship? Is it for residency purposes or just for the purpose of citizenship? The reason why this is important is because there are certain countries that grant a visa without requiring that person to stay in the country for a long duration of time. They require you to stay there for a few weeks every year and renew your visa every year before granting citizenship. However, there are other countries that require the people wanting citizenship to stay there for a long time before they are granted the same. This is called ‘physical presence required.’ The feasibility of this in terms of your family must be thought through as there are so many more points to consider such as; education of your child, work status of your spouse, etc.
The cost involved – acquiring citizenship in a good country can prove to be expensive. Understand the cost that is involved for each member of the family and what is the overall return on investment that you will receive. If things like leaving behind a current job or educational institution, for example, is worth it or not should also be considered.
What are the application requirements – getting second citizenship is a rigorous process that has a lot of requirements at the application stage. There are rigorous background checks that are done of the individual and their family along with other vetting requirements like criminal records, bank records and tax payments etc. that are checked.
Language and culture of the place – the language, culture, cuisine and people of every place are different and so is their value systems and way of life. Once you and your family are thinking of moving to another country or at least getting citizenship of it, analyze all of these factors and see if this is something that you want for your family. Do you want your children to grow up in the culture, values and beliefs of that place, to grow up eating that food and speaking that language? All of these are important things to consider as it determines the way they grow up to be and their future as well.
Education and health care system of the place – Education and health care are two very important factors for any family. The quality of education determines the child’s future and the quality of health care determines the way of life in the country itself. Thus, they are aspects that need to be deeply researched when choosing a new country to move to.