You have nothing to lose, and everything to gain. Some government officials are also fond of dual citizenship and … Read other's experiences. I am trying to decide whether the $360 is worth it to have dual citizenship. In fact, its capital – Phnom Penh – looks quite a bit like Bangkok did thirty years ago.Getting Cambodian citizenship could therefore give you ground-floor access to a frontier market.If you want greater access to emerging markets in Cambodia and beyond, then getting dual citizenship can help you do so.However, Cambodia is just one of many countries where you can get better access to rising markets as a citizen.Maybe you have Eastern European ancestry and can get expedited citizenship in Lithuania or Poland, or maybe you want to become naturalized in Costa Rica or Paraguay.Regardless of where you go, getting dual citizenship can help you gain early access to many emerging markets.Now that you know the benefits of getting dual citizenship, you may be wondering whether you should go about actually doing it.If you’re happy living your entire life and doing everything that you need to do in one country – and you think that won’t change anytime soon, then you can probably pass on getting dual citizenship.On the other hand, if you want to legally reduce your taxes, take advantage of international business opportunities, and live a freer lifestyle, then you should start to look into getting a second passport.Where you decide to get that dual citizenship, however, depends on your needs and circumstances.
10 Swedish citizenship test questions. Basically, dual citizenship from Ireland has some pretty unique benefits. Join thousands of people from US, Canada, Australia, New Zealand, UK, South Africa and many other countries apply for EU citizenship through descent every year!. As far as advantages of EU citizenship, there are many, including international mobility, unlimited working rights in the EU and, in most cases, transfer of your EU citizenship onto your children and grandchildren. While I’m not a conspiracy or doomsday theorist, I think that having a backup plan is important, and a second passport can be a sort of insurance policy against invasive new laws or government instability. Social security in Finland, or welfare in Finland, is, compared to other countries’, very comprehensive.In the late 1980s, Finland had one of the world's most advanced welfare systems, one that guaranteed decent living conditions for all Finns.Since then social security has been cut back, but still the system is one of the most comprehensive in the world. As a dual citizen, you'll reap the benefits of being immersed in the culture of the two countries. "Nomad Capitalist" and "Go Where You're Treated Best" are registered trademarks Your second citizenship has the potential to significantly reduce your tax burden. List of the Pros of Dual Citizenship. No visa to some countries where US citizens need one (Turkey for one). With a second passport, you can spend unlimited time outside of the US, and you can clearly establish Additionally, if you plan to renounce entirely, you’ll almost certainly need another passport.Most US embassies won’t allow you to turn in your US passport unless you can prove that you have citizenship elsewhere, and becoming stateless can limit your travel and business opportunities.Since the US requires all citizens to pay taxes, renouncing your US passport is the only way to truly escape the IRS – and you’ll need a second passport to do that.However, getting dual citizenship can also be beneficial for citizens of other countries.Countries like the UK, Australia, and Canada currently use what’s known as a Getting dual citizenship also gives you an exit strategy if your home country tightens its tax regulations.In the age of digital nomads and perpetual travelers, many developed countries that use residential taxation have considered making it more difficult for their citizens to become tax non-residents.Suppose you’re an Australian citizen who lives tax-free in Vanuatu, and the Australian government decides to rope you back into its tax net with new regulations.If you don’t have a second passport, then you’re out of luck.On the other hand, if you’ve gone through the process of getting citizenship by investment in Vanuatu, then you can opt out and choose to renounce your Australian citizenship.Dual citizenship therefore serves as an insurance policy for your tax plan.It gives you an exit strategy in case of government nonsense, and it allows you to cut ties when necessary to As I mentioned earlier, the majority of people interested in getting dual citizenship often want a second passport that improves their Israeli citizens, for example, are prohibited from traveling to most countries in the Middle East, so many Israelis get second passports to be able to do business in Qatar or Dubai.Even if you have a passport with superior visa-free travel, you can still strategically acquire second citizenships that enhance your access to certain parts of the world.Getting dual citizenship can thus improve your ability to travel and do business around the world – even if you already have an A-level passport.While it may not be your first priority, ease of travel is something to consider if you want to get a second passport.One of the most obvious – but underrated – benefits of getting dual citizenship is that citizenship gives you guaranteed residence in that country.You look at citizenship by investment opportunities on islands like Saint Kitts and Nevis or That can wait until you decide to retire and live there, right?Although both countries currently have great citizenship by investment programs, that may change in the future.They could make it substantially more difficult or expensive to get citizenship there, or they could eliminate their citizenship by investment programs altogether.Now, this doesn’t mean that you’re barred from retiring in the Caribbean, but wouldn’t it be easier to ensure that you can by getting dual citizenship now?If you get citizenship by investment in Dominica, then you’ll always have access to this beautiful country.Guaranteed residence is certainly the unsung benefit of getting dual citizenship.If you have citizenship in a particular country, then you have the freedom to live there as you choose.