Many people think that getting a second passport is a very difficult process requiring special terms like being born in another country or having relatives there. On the other side, many people think you have to be wealthy to get a second citizenship.
However, these rules are not the same in every country, and some offer much easier processes and requirements to get a second citizenship. For instance, if you are interested in moving to some exotic place for good, or starting a business there, you should learn how to get a caribbean passport.
There are many factors that are affecting countries to be more or less open to providing passports to foreigners. Some of them want to increase the population or attract more investors. Also, citizenship by investment is a very popular option, and here are the most common misconceptions about it.
It is a Difficult Process
As we already mentioned, countries have different rules about providing foreigners with citizenship. Therefore, it depends on the place you choose for your second passport. For example, getting one in the US can be more difficult, especially if you are from a country that needs a visa to travel there.
In that case, you will have to request a visa, a working permit, and start a family in that country to apply for permanent residence, and then you can start working on your full citizenship.
On the other side, there are some Caribbean countries, along with some from other parts of the world, where this process is much easier. For example, if you are interested in a passport for St. Kitts and Nevis, getting one by investment will take only a few months. The procedure is not complicated at all.
These Passports are Different
This is another common misconception where people think there will be a special mark or sign on their passports, and others can easily recognize that they got it through investment. However, that is not the case in any country. Once you fulfill the terms related to citizenship, you will get all rights like any other person living there, including the standard passport.
That is the case for naturalization, investment program, and other options. In addition to that, we have to mention the term Golden Passport. It refers to a document you can get by donating or investing in some property or business. It is not directly related to the color of the passport since it is only a term. Therefore, if you see a program where a country is offering golden passports, these documents will be the same as for any other citizen.
It is Easier to Lose One
Some people are afraid they still won’t have all the rights as citizens of the country where they got their passports from an investment program. However, the rules and regulations will be the same for any passport holder, and it does not matter whether you are born in that country or chose to donate for citizenship. Therefore, there is no way for you to be segregated in any way.
Also, you should know that the process of revoking is the most difficult one for any government. In most cases, it can be revoked only if the state wasn’t aware of issues like not being accurate in the application and trying to hide certain things like criminal history, bad reputation, and more. The same can happen if you start with criminal activities in that country.
You Cannot Have Two Passports
A country rarely has a specific rule where you can have only one citizenship. Therefore, dual citizenship is quite common, meaning you don’t need to worry about the status in your native place when you are applying for a second passport. There are many reasons why people are interested in dual citizenship. First of all, there is the ease of travel.
For example, even if you don’t need a visa for someplace, you will need one if you want to stay there for more than three months, buy a house, start a business, and more. Still, there are countries where this process is more complicated, and you should always check the regulations before applying for this option.
There are Limitations
If there is a country that is offering a passport by investment, you can be sure that all you need to do is to fulfill the requirements and do that only once. After getting the document, you are considered a native citizen, and there won’t be any special rules that will apply to you.
Therefore, you don’t have to worry when the renewal comes since it will be a simple process like anyone else. In most cases, these documents are provided for a period of 10 years, and you don’t even need one while staying in that country since it is used for traveling. You will get other documents like your ID, driving license, and more.
It is Very Expensive
Again, it depends on the country. There are places where you can get one for less than $150k, while there are countries where you will have to spend a couple of millions of dollars on applying.
Immigration politics are an important factor here. When getting a passport by investment requires more than $1 million that means that the country wants to attract people who are rich.
On the other hand, there are Caribbean countries where you can get one for only around $150k. There is an even better solution, which is by investing in a property.
For example, you can buy a house in St. Kitts and Nevis that is worth at least $200k. The only rule is that you won’t be able to sell it for the next seven years. If the value is over $400k, that time is decreased to five years.
The Bottom Line
As you can see, citizenship by investment is not a complicated and long-lasting process, but the rules are not the same for each country. In that matter, the first thing to do is to check the regulations and be sure that you can follow the requirements before applying.