Whether you call it dual citizenship or dual nationality or multiple citizenship/nationality, it is when an individual is recognized lawfully as a citizen of two or more nations simultaneously.
Let’s have a quick look at the benefits.1- Security- Getting a second passport from a stable nation can obviously be life-saving in the event of any economical, social, or political turbulence in one’s domicile country.2- Business- The new business opportunities are opened up for dual citizens.
They can now do business in the host country and also they can move abroad more unreservedly.3- Tax optimization- For tax optimization purposes dual nationality may prove to be greatly beneficial.
For instance, some nations only tax income earned from that nation and don’t subject capital gains.
This thus permits the investor to manage their money effectively and efficiently.4- Quality of living- Getting dual nationality or second citizenship provides access to first-rate health care and education and thus assures a well-enhanced living style.5- Global mobility- Mostly the passports are reasonably weighty in their visa-free mobility, forcing the citizens to acquire visas whenever they need to travel to any foreign destination.
Let’s have a look at those in brief.1- Birth-There are some nations that permit non-resident people to acquire nationality or citizenship in case if their parents were born into that nation.