The benefits of dual citizenship include tax benefits, access to new revenue sources, plus the ability to invest in foreign real estate markets.
However, there’s one extra benefit many people aren’t fully aware of: dual citizenship for their children.
As our founder Andrew Henderson explains: “While you may imagine your child going to the same university you did or getting a job near home, today’s world is more international than ever. Not only are there plenty of opportunities in other countries, but college tuition in places like Europe is much cheaper than it is in the United States, especially for citizens.”
Having dual citizenship allows your children to access multiple countries at once. Even after they grow up, your children can move freely through 2-3 (sometimes even 30) separate countries visa-free. And these perks won’t just extend to your children but will also benefit your grandchildren and great-grandchildren.
At Nomad Capitalist, we believe that you should never settle for anything less than the very best. If you’re considering obtaining dual citizenship for yourself and your family but aren’t sure where to begin, get in touch today.
We’re here to help make the process straightforward, so you won’t have to waste your time and energy figuring it out alone.
What Countries Offer Dual Citizenship?
Sixty-four counties across the globe offer dual citizenship. European, South American, North American, and some Southeast Asian countries are the most popular places for people to seek out second citizenship.
European passports, in particular, are in demand because the citizen of any European Union country can live in any other European Union country. Like an American who can move from California to Texas, most EU nations allow EU citizens to travel freely between national borders.
For example, suppose your family qualifies for citizenship in Slovakia, even if you don’t want to live in Slovakia that doesn’t matter, since Slovak citizens have the ability to travel or move to any other EU country.
Slovakia’s a perfect example because you can go back three generations when claiming Slovakian citizenship by descent.
So if your parents, grandparents or even great-grandparents were from there, you can claim your citizenship in that country and automatically become a citizen of the EU.
This, in turn, means you’re free to travel, work and live anywhere within the European Union.
Of course tracking down all the papers from the former Czechoslovakia to try and prove your case, that’s the hard part. Which is why we created a special citizenship by descent service to help you.
There are literally dozens of countries in Europe and elsewhere offering this type of citizenship and most people don’t know how to take advantage.
You might be eligible for a second citizenship and not even know it. So check out our free citizenship by descent guide to see if you qualify.
As we mentioned, EU citizenship is especially popular because it opens up so many possibilities.
Want to escape the harsh winters? You can move to sunny Portugal or Spain.
Fancy a bit more stability and efficiency? You could move to Germany.
Prefer to do everything in English? Ireland’s a popular choice for many and offers one of the most open citizenship by descent programs in Europe.
Alternatively, if you can’t claim by descent but still want to give your family the very best future available, you can look at Maltese citizenship by investment, the creme de la creme of Europe’s golden visa programs.
With EU citizenship the only thing you’ll need to successfully move between national borders is a passport or national identity card.
Of course Europe’s hardly the only game in town. Many South American countries, such as Colombia and Chile, offer dual citizenship. These nations appeal to foreigners because of their low cost of living and relatively simple dual citizenship programs.
Unlike Europe, with their mature real estate markets, Latin America’s developing economies are more appealing for those looking to combine citizenship with real estate investment.
Every country, every region and every citizenship program has its own pros and cons.
Knowing them all is our core business which is why we’re able to advise you on all the best options simultaneously. Once we’ve helped you decide the where, we focus on the how.
This is then refined down into a holistic Action Plan which takes everything into account from your business and investment portfolio, to the specific wants and needs of you and all your family members.
How to Obtain Dual Citizenship
1. Obtaining Citizenship Based On Place of Birth
The naturalization of your child can be determined by where they’re born. Some countries will offer citizenship to anyone born within its borders, no matter their parent’s citizenship. These countries include the U.S., Mexico, Canada and the majority of South American countries.
Colombia and Chile do not offer citizenship based on where a child is born, however, but rather on whether one or more parents are citizens of the nation.
You can make your child’s life much easier if you have them in a nation that offers this perk. For example, if you give birth in the U.S., your child won’t have to worry about obtaining a U.S. Visa later in life. Or, if you have them in Canada or a South American country (excluding Chile and Colombia), they won’t have to worry about obtaining residency later for tax purposes.
This rule applies in some countries, even if you have a child while on vacation.
Regardless of your status in the country, if you have your child within its borders, that child is a citizen.
2. Parents’ Citizenship Can Influence a Child’s Citizenship
Many parents aren’t aware that they may have dual citizenship already, depending on where they or their parents were born. If you were born in another country, you may already have a second citizenship even if you don’t carry that country’s passport.
You, as the parent, could have citizenship based on where you were born or because your parent had it.
We had a case recently where the person didn’t realize she was Croatian through her parents. As it transpired she was able to claim Croatian citizenship (and by extension, EU citizenship) for herself and then claim it for her children.
3. Family Tree
Many countries offer special citizenship programs known as citizenship by descent.
As mentioned previously, citizenship by descent looks into your family history and prioritizes citizenship for people with a close family background in a certain country.
Ireland and Italy are two popular choices, for example.
It’s one of the fastest and cheapest ways to obtain a second citizenship. And by claiming your citizenship, you’ll be getting your children second citizenship in their family’s home country.
If you’re considering this move, start collecting your family’s documents. You’ll need to prove your citizenship and potentially show baptismal and birth certificates from your native country.
At Nomad Capitalist we make the whole process easier with our special citizenship by descent service, where we help with everything from collecting the necessary documents to providing help and support throughout the entire process.
4. Citizenship by Investment
Citizenship by investment is the most assured way to obtain a second passport.
This method will also ensure your children have access to these countries and your investment. Most countries require investors to invest in real estate or a public service project.
While public investments are excellent, you can also provide your children with a secure foreign investment in real estate. This is one of the best ways to ensure your children have a place abroad where they can establish themselves.
The Caribbean has several excellent options for citizenship by investment.
As Mr. Henderson explains, “Wealthy families can donate $100,000 and up to any of five Caribbean island nations such as Saint Lucia or Antigua and Barbuda and receive passports that allow them to travel to 160+ countries within a matter of months.”
These passports aren’t as popular as European countries but offer some of the best tax benefits. Alternatively, an investment in the EU can grant your children access to European universities and higher education.
Conclusion
A second citizenship is an excellent way to help establish your family abroad. Even if you don’t plan to move abroad, gaining citizenship grants you the freedom to move if you so choose. It also grants your children and grandchildren the opportunity to move if they so choose.
Regardless of your reasons for obtaining second citizenship, this decision will benefit you and your family. Although the process can be confusing, and with so many countries to choose from, it can be hard to decide.
Nomad Capitalist has been helping families make the right choice for years. Let us help you get the second citizenship that’s most beneficial to you and your family.
