Top Second Passport Options With Economic Citizenship
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Obtaining second citizenship isn’t a complicated process. If you are a citizen of one country but have relatives in another, you may have the right to acquire a second passport. Dual citizenship is legal in many countries, and it doesn’t compromise your existing citizenship in the United States.
Golden visa:
The Golden visa for second citizenship and a second passport is an incentive program to attract wealthy investors. It allows them to get a second passport and access to the EU, but they must invest in a company to qualify. The processing time for these programs is typically four to eight months. Once approved, you can visit the embassy or consulate to collect your citizenship certificate and passport.
Naturalization:
If you are eligible to apply for naturalization, you can obtain a U.S. passport using a second passport. You must submit the appropriate application forms and evidence to the U.S. Citizenship and Immigration Services (USCIS) during this process. In addition, you will be required to submit fingerprints, photographs, and other security information. The USCIS will evaluate your application and determine your citizenship eligibility.
Investment programs:
“Citizenship by Investment” (CIP) programs are a great option for people who want to acquire a second passport. The application process can take as little as three months, and citizenship by investment offers the investor inalienable rights. This can include the right to conduct international business and visa-free travel. Many CIP programs also provide a range of tax benefits and permits.
Marriage:
If you are married, it is relatively easy to acquire a second passport. Many countries have accelerated naturalization timelines for spouses. Some, like Cape Verde, even offer immediate citizenship upon marriage. However, this can lead to trouble.
EB5 visa:
If you have a vested interest in obtaining a second passport, an EB5 visa may be an excellent option. This type of visa is designed to facilitate the immigration process and create jobs in the United States. The EB5 visa process typically takes 13 months, which can vary greatly. The main requirements for this visa include making a capital investment in a new commercial enterprise founded before 1990. This investment must create at least 40% of the new enterprise’s net worth and create jobs. In addition, you will need to provide proof of how you manage the business.
