INSIGHTS

Expatriation ? Choose your residency

The quickest and simplest ways to benefit from two citizenships.

 

A second citizenship can be more than a helpful tool for easier travel but a key to tapping into a lifestyle of flexibility and freedom. Dual citizenship can mean visa-free travel, lower taxation, better investment options, discreet banking and much, much more.  There are so many possibilities with dual citizenship.

Obtaining a second passport is different for every country, each with their own timeline, regulations, and requirements. Some require a minimum income while others may just require an investment in real estate, businesses, or job creation. Other countries grant dual citizenship quite easily. Some achieve dual citizenship simply because their grandparents were born in a different country.

Below we explore the easiest dual citizenships to obtain.

  1. Italy

With Italian citizenship, individuals can live and work across the 27 EU member states without a visa, vote in Italian Parliament, and easily purchase properties in the country. Additionally, Italian citizenship is automatically transferred to all children under the age of 18.

If an individual is looking for an inexpensive dual citizenship or second passport, Italy offers citizenship to those whose ancestors were born in the country. Other countries, such as Ireland are known for this way of getting easy dual citizenship.

The qualifications can be somewhat tricky but does not seem to cause many issues. Male ancestors usually pass on citizenship to family without limitation but woman can only pass on citizenship to individuals born after 1948. The application process for Italian citizenship only costs $25!

  1. Ireland

Ireland is often heralded as one of the easiest ways to gain a dual citizenship. An individual can gain jus sanguinis citizenship, or citizenship through the blood of ancestors. The only requirement is that one of the individuals grandparents was born in Ireland. This grants free Irish citizenship.

With Irish citizenship, individuals can work and live in EEA or EU member countries. They can live in the country for 280 days every two years. Any longer and they become a tax resident.

This is a very popular citizenship as many individuals have ancestors in Ireland. The country has over 14 million passports in circulation even though it only has a population of four million.

  1. Dominica

Who doesn’t want to live in the Caribbean? Not only is citizenship in Dominica easy to get, it also has some great benefits. As a Commonwealth nation, citizens of Dominica get special privileges in the UK, including visa-free travel to 50 countries.

The minimum investment is only $100,000 plus fees. For additional fees, you can be represented by an Authorised Agent that will prepare all of the required documentation and ensure all forms are completed properly. Once all documentation is submitted, individuals will have an in-person interview as well as submit a medical examination.

The entire process typically takes between five to fourteen months to get full citizenship in Dominica, which is relatively short compared to the amount of years it can take in other locations.

  1. Canada

It can be quite easy to obtain citizenship in Canada as long as you are serious about residing in the country. The main requirement is proof of outside income, unless the individual already has a job in Canada. An individual must prove to have at least CAD $12,669.

Once one has permanent residency, they will have to live in the country for 1,460 days in a 6- year period or at least 183 days each year in a 4-year period.

After meeting these requirement for four years, an individual can apply for citizenship. Applicants between the age of 14 and 65 will also need to prove proficient English or French language knowledge and take a citizenship test.

  1. Singapore

As the world’s fourth leading financial centre, Singapore’s passport will not only earn you visa-free travel to over 150 countries, citizens will also benefit from a diverse culture that plays an important role in global finance and trade.

The country is no stranger to immigration, with a population of almost 5 million people that is made up of Chinese, Malay, Indian, other Asian descents, and Caucasian immigrants. Foreigners make up nearly 42% of the population, where they work and study.

To earn permanent residency in Singapore is simple. An individual can establish a business, obtain employment, or marry a citizen of the country. After two years as a permanent resident, the individual can obtain citizenship.

Dey Capital and Dual Citizenship

Does dual citizenship sound like exactly what you need for the life of freedom you’ve always wanted? Get your international life started with the expatriation services of Dey Capital. Tap into new markets, legally lower your tax bill, and go on an adventure.

With partnership with respected law firms in various regions of the world, Dey Capital is advising its clients on every step of the expatriation journey. There is increasing tax pressure globally and professional mobility, expatriation has become one of the most efficient tools for asset protection and estate planning. Dual citizenship clearly has its benefits, so what are you waiting for?

There are benefits that can affect your taxes, your investment portfolio, cost of living, and your lifestyle completely. As the cost of travelling becomes cheaper, the benefits of expatriation for financial reasons are more easily obtained.

Taking the leap and leaving your home country can be a big decision with tons of personal and legal steps. The hassle of navigating the legal process of expatriation can be reduced with the guidance of Dey Capital. Each step requires assistance, including getting the passport, making sure everything is completed correctly regarding taxes, acquiring work permits, making investments, and more.

Our expatriation and relocation services take your goals and current situation to hand craft a unique plan for you.