Dual citizenship is a gift that you can give to your children, but they will hardly appreciate its value before they reach the age of at least 16. However, when they do, they will take advantage of much wider opportunities than their peers who have only one passport: traveling around the world without visas, the right to live, study, and work in more than one country, investment in promising projects around the world that will bring them sufficient income in the future, and more.
Welcome to our portal called International Wealth where you can read a more detailed article on dual citizenship for children and decide which gift to choose among those available. Our experts write up-to-date articles about citizenship-by-investment programs, international business, banking and investments, and other topics that may be interesting to you.
If you have no experience in dealing with foreign authorities or you struggle with the choice, start by booking a free session with our expert. If you want to choose a jurisdiction to acquire citizenship, we will analyze the details of your situation, your needs and preferences, and help you for free. And if you decide to delegate all the administrative moves to us, we will be happy to help: all you will need to do is collect a package of documents according to our instructions. Let us be your guides to the world of opportunities!
Countries With Dual Citizenship
There are 64 countries in total where dual citizenship is allowed. The most popular destinations are, predictably enough, located in Europe, South and North America, and Southeast Asia. The EU and the USA are the two leaders, of course.
EU citizenship gives really wide opportunities:
- If you are sick and tired of cold winters, you can spend them in Spain or Portugal to continue enjoying the sunshine.
- If you want to take advantage of a stable economy and high living standards, opt for Germany.
- If you want to live in an English-speaking country located in Europe, you can move to Ireland.
All these choices will be at your disposal if you have an EU passport.
What about South America? You can choose Colombia or Chile as these are the countries that allow dual citizenship that your children can inherit. The undeniable advantage of these countries is a much lower cost of living than in the EU, which stimulates many people to relocate. In addition, citizenship is not very difficult to acquire.
Every dual citizenship option has its advantages and disadvantages. We strongly recommend booking a session with our experts as they will help you make the right choice based on your goals, financial opportunities, needs, preferences, and even dreams. If you need support, we can provide it throughout the citizenship acquisition process.
How to Acquire Dual Citizenship
When it comes to citizenship acquisition, most people think about the long painstaking process of becoming a citizen through naturalization which implies living in the country for about ten years on average. However, there are four more ways:
- Dual citizenship for a child born to an international family
- Dual citizenship for a child born in a foreign country
- Citizenship by descent
- Citizenship by investment
Let’s have a look at each case.
International Family
If parents have different nationalities, their child can become a citizen of two countries – but only if they allow for dual citizenship. Otherwise, one citizenship will be chosen.
A good example of that is Japan: dual citizenship is not allowed, which means that the child has to choose which citizenship to keep before reaching the age of 18. Failure to do so may result in automatic loss of Japanese citizenship.
A Child Born in a Foreign Country
Parents who want to give their child a second citizenship can move to another country before birth to secure this opportunity. Not all countries have such regulations, but you can do so in the case of the USA, Canada, Mexico, and most South American countries. There are cases when women give birth while they are on vacation in a foreign country or simply in transit, and the child still obtains a potential right to citizenship.
Going to have a baby? Choose a country for giving birth without delay!
Citizenship By Descent
There are many countries that are ready to provide citizenship to you if your ancestors were their citizens!
Let’s take Slovakia. You can go back three generations – and if you discover that one of your grandparents or great-grandparents was a Slovakian, you can obtain an EU passport without spending too much money. However, the key to success is to find the documents that prove your Slovakian roots. You can contact our experts to get professional support: we can assist you in collecting the required documents and submitting them.
Citizenship By Investment
This is the easiest and fastest way of acquiring second citizenship – however, it requires certain investments. In most cases, you will need to buy real estate in the respective country or make a non-refundable donation to the state fund. The donation is usually smaller, but you will not recover your funds. If you buy property, you will have to keep it for 5 to 7 years, but then you can sell it back – sometimes at a higher cost! In addition, possessing a house means that you will have a place to live in a new country, which can be an advantage to some applicants.
The most affordable citizenship-by-investment programs are provided by the Caribbean states, and they offer various incentives to their economic citizens. However, if you feel that you want to obtain an EU passport, Malta could be a great option. Keep in mind, though, that it is much more expensive, and you will need to live there for a year before you can acquire citizenship.
Conclusion
Giving dual citizenship to your children is a great gift they are sure to appreciate later on. If you want to find a viable option, please follow the above link and use our live chat to book an individual session with an expert. With professional assistance, your path to citizenship may be much shorter and smoother.