Why People Need a Second Passport?
Everybody has his/her reasons to have a second passport but the general reasons for having a Plan B are;
- Fluctuations in economic conditions in the country of born
- Political and social reasons in the country of born,
- Natural disasters in the country of born,
- To take advantage of a better health system,
- To have better educational opportunities
- The desire of businesspeople traveling internationally to increase their freedom of movement
- Not to be subject to business restrictions due to international embargoes such as opening an account or transferring money.
- Increasing profits without incurring high taxes
- Enhancing the quality of life
Generally, in the countries that grant second citizenship, there is citizenship by investment units to follow these transactions. Some documents are necessary for the application. Although these documents vary by country, they generally consist of criminal records, health reports and birth certificates.
How do Citizenship by Investment Programs Work?
Investment-based citizenship programs are made possible by an investment, donation or investment in government funds of the countries that issue the programs. Generally, these investments are made in the form of purchasing a real estate and possessing it for a certain time or giving an annotation for keeping the real estate in its possession for a certain period.
Donations cannot be withdrawn when the donation route is chosen, depending on the country. The waiting time for obtaining citizenship after the application varies according to the countries and the status of the documents, but it takes a minimum of 2 months and up to 7 months due to the pandemic.
