The benefits of obtaining second citizenship are both abundant and significant. It has become an increasingly popular choice among high-net-worth individuals seeking to invest in valuable opportunities. Key advantages of second citizenship include the ability to live and work in another country, enjoy greater travel freedom, and access superior education and healthcare.
In addition, second citizenship can provide a sense of security and stability, especially for those from countries with political or economic instability. Moreover, second citizenship can offer opportunities for investment and business growth.
Thanks to citizenship by investment programmes offered by over 20 countries worldwide, foreign nationals can now reap the benefits of second passports tailored to their specific needs. Whether you're seeking residency permits that grant full access to a country's economy or simply the convenience of visa-free travel, citizenship by investment programs provide a range of opportunities.
Whatever your motivation, second citizenship offers numerous advantages. In this article, we'll explore some of the key benefits of obtaining a second citizenship.
Suggested Readings: Economic and Political Stability of Malta
Thanks to the Citizenship by Investment programmes offered by over 20 countries worldwide, foreign nationals can now take advantage of second passports and all their benefits depending on what they’re seeking. Anything from residency permits that allow you full access to your country’s economy or simply an opportunity for visa-free travel is possible with this type of investment programme.
Benefits of Second Citizenship
1. Improved mobility has made travel easier.
Second citizenship isn't just appealing; it's a dream come true for frequent travelers. It opens doors to new places and cultures, offering visa-free access to multiple countries. This expanded freedom not only boosts opportunities but can also lead to significant financial savings by eliminating or reducing visa fees.
Having the freedom to travel, live, and work in multiple countries is a huge advantage if you want to live and work internationally or retire in another country.
Depending on their passport, foreign nationals with second citizenship can get visa-free or visa-on-arrival access to several countries. If they come from a country with an excellent credit rating, the odds are that they would have a very powerful passport.
For example, Malta’s passport, which can be acquired through the Malta Citizenship by Naturalisation for Exceptional Services by Direct Investment (NESDI), ranks fifth in travel freedom worldwide. Holders of the Maltese passport may travel visa-free to 190 countries. Note that the list of visa-free countries and the requirements constantly change, depending on the geopolitical situation.
If you’re looking for an excuse to pack your bags and see the world, remember that holding second citizenship can make travelling a breeze.
2. There are endless business opportunities out there.
Having second citizenship is a great way to open doors and explore new entrepreneurial opportunities. Access to new markets, both established and emerging, comes with second citizenship. If you have a business that relies on international trade, having second citizenship can open doors to new business partners and customers.
The European Union has some of the most significant economic zones. Those looking for opportunities to expand their business ventures in other jurisdictions can find more success stories than failures. With a wide array of industries available for businesses, it is always worth looking into second citizenship.
In Malta, foreign nationals with citizenship can prosper in unique industries. From iGaming, Medical Cannabis, and the rapidly growing real estate industry, plenty of business opportunities are available in all sectors! These industries are well-supported by the country’s strategic geographical location, consistent economic growth and a highly skilled workforce.
Suggested Reading: Top Business Opportunities in Malta
3. Having a second option is like having two first choices.
In today’s uncertain world, it’s always good to have a backup plan.
Second citizenship is the ultimate insurance. It is an invisible safety net to allow for a more stable or desirable lifestyle elsewhere in case of unforeseen circumstances such as market crashes, natural disasters, political unrest and other emergencies. Peace of mind is invaluable amidst the world’s uncertainty. Subsequently, having second citizenship allows one to live and work in a stable and secure country.
Malta has joined the list of best countries for non-European nationals aiming to acquire a second residency or citizenship in terms of safety. The country offers excellent financial benefits to those who become Maltese citizens. In addition, Malta distinguishes itself with its robust economy, strategic position in Europe and family-friendly environment.
4. Access to quality education and healthcare is vital.
Through second citizenship, you can take advantage of education and healthcare benefits not available in your home country.
For families with children, access to quality educational institutions can be a significant advantage. Providing the best quality education for your children means opening a brighter future for them, complete with limitless opportunities.
The Global Partnership for Education (GPE) has stated that education plays a crucial role in human, social and economic development. Some families seek second citizenship to give their children access to world-class educational systems while preserving the family unity.
It is no surprise that Malta has one of the most educated populations in Europe. The country’s top-ranked educational system includes State, Church, and International Schools and several universities, including Malta University, ranking among the best at regional and global levels.
5. Preserving the family legacy is a duty.
The family legacy is an integral part of their identity for many people. The best way to guarantee a prosperous future for your children is second citizenship. This plan goes beyond establishing trusts and foundations or who controls the business; it’s passing on everything great from one generation to another!
Malta has a great deal to offer its citizens and is also very generous with foreign nationals who want their children to live in the country. Suppose you have at least one parent with Maltese citizenship after your birth. In that case, it can prove easy for you to become naturalized. That means getting second citizenship in Malta also promises future generations the right to live and work without barriers or restrictions within the nation’s borders.
6. Retirement is the time for new and exciting changes.
The retirement years are a time to relax and enjoy the fruits of your labour. Unfortunately, retirement can also be a time of financial insecurity for many people. It is vital to create an ideal retirement plan carefully.
One of the most important considerations for many people is selecting the ideal retirement destination that offers an excellent quality of life. It's essential to have visa-free access to other countries in case it's needed later on. Additionally, past experiences can guide individuals in their search for the perfect location, whether it’s a desirable environment, climate, or lifestyle that aligns with their retirement goals. If you have already accumulated wealth, now is the time to enjoy it.
The Malta Retirement Programme allows retirees to take advantage of all the country offers. In addition, you get access to an island nation in the Central Mediterranean Sea rich with history and culture that’s perfect if you want some sun on those golden sands!
7. It’s a luxury to establish a status symbol.
Second citizenship can be a valuable asset, both financially and emotionally. For many, it serves as a status symbol, leading to better treatment and maximizing available opportunities. Greater freedom translates to greater power, allowing individuals to own real estate, yachts, and other assets while enjoying the benefits of ownership.
Acquiring second citizenship is yet another status symbol to add to your achievements. It can evoke a sense of pride and satisfaction, knowing you hold citizenship in two countries. This dual status provides access to an enhanced quality of life and opens the door to a wealth of career and business opportunities.
8. It’s a way to connect with your heritage.
If you have ancestors from another country, second citizenship can give you a connection to your roots. It can also help you learn more about your culture and heritage.
Malta Naturalisation for Exceptional Services by Direct Investment
Choosing the right country is essential when deciding upon your second citizenship. Each country has its benefits, depending on your lifestyle, business and other determining factors. Malta offers an exceptional citizenship by investment programme.
The Malta Citizenship by Naturalisation for Exceptional Services by Direct Investment offers business, travel, settlement and family security. Moreover, the Malta Citizenship by Naturalisation is a certificate or regulations permit granted to highly talented high-net-worth individuals and their families who contribute to its economic development. With this programme, applicants can obtain residency in Malta, leading to citizenship by naturalisation.
You have two investment options to acquire citizenship in Malta:
- Apply for citizenship after one year (12 months) of being a resident of Malta with a contribution of €750,000 payable to the government of Malta.
OR
- Apply for Maltese citizenship after three years (36 months) of being a Maltese resident with the contribution of €600,000
Notably, the granting of Citizenship for Exceptional Services regulations is limited to 400 successful applicants per year, capped at 1,500 for the complete regulations.
