Global Reserve and Finance Limited announced today it will be providing second passports in addition to its variety of service offerings. With the legal passport, clients will be able to enjoy a dual nationality status. Dual citizenship as it is also sometimes called, simply means that a person legally is a citizen of two countries at the same time, qualified as such under each nation's law.
If you wish to keep a low profile when you travel, for reasons of nationality, religion or political affiliation, a second passport can give you the necessary mobility you require and avoids electronic logging of your existing passport. “Whether you like it or not, our identification documents immediately present a stereotype in order to define the rules of social, political and even economic engagement, regardless of our own private beliefs and personal actions,” states a representative from Global Reserve’s international financial planning department.
“Additionally, dual nationality could open all kinds of doors overseas, including participation in foreign social security programs, national health programs, even university tuition remission programs. Employment is yet another issue. Foreigners are largely banned from working anywhere outside their own borders. Citizenship in another country can change all of that quickly.”
In terms of investment opportunities, it is becoming more common nowadays that many financial institutions overseas will not deal with you or open an account for you if you are a citizen of the US or the UK. Having a legal second passport with the alternative citizenship opens the door when it comes to dealing with these same institutions. Furthermore, with a second citizenship you can invest in offshore unit trusts or mutual funds and hedge funds, buy and rent out property wherever you choose without punitive taxation. “With an additional passport you can leverage opportunities that are afforded to certain nationalities and restricted by others, in this way you as an individual can take greater advantage of offshore business opportunities.”
Most countries require a foreigner to become a resident and live there for an average of five years or more before they are granted citizenship. But what if you are not ready to move overseas? Currently, the only countries allowing for second citizenship (without residency requirements)
The Caribbean jurisdictions of the Dominican Republic and Dominica want to create jobs, accelerate resort development and grow their tourist industries by bringing in more money. Therefore, the laws provide foreigners with ease of citizenship, and thus entitled to a new (second or additional) passport, and permanent residence, if desired. For information on how to obtain a second passport and economic citizenship contact marketing@globalreserve.co.nz.
