Is A Second Passport A Second Chance
A second Passport or better even a second citizenship? Second citizenship can be something like a global insurance policy that entails any individual to make use of the dissimilar parts of two countries for a better set of options, most likely financially. It can become quite apparent in small nations with a not-so-bright socio-economic condition, where individuals often find it easier to make a better living in another country. One that you can choose. Dual nationality has always been held by wealthy people with a knowledge of world history. They know of the dangers of placing an entire future in the hands of politicians. Patriotism might be OK if governments were consistent and let you be free.
But socialistic Big Brother bureau(c)rats now have the power to run your life from cradle to grave. Most of them think that all people who own businesses. securities, gold, foreign bank accounts or property are criminals who should be relieved of them and what little freedom they still have left. It is therefore imperative for the security of anyone of substance or ambition to have at least one other passport and nationality. A second passport can give you peace of mind.
It can help save you taxes. It also expands your travel opportunities. In some circumstances a second passport could even save your life. Here more specifically are some of the reasons someone might want a second passport. Residence. Residence gives you the right, without having to ask permission, to live and work in the country of your choice. Security. "Just in case." The world is an unstable place. Anything could happen — although it probably won’t.
Against the day when it might, however, a second passport, or second nationality, means that when you decide you’re no longer happy in your normal place of residence, you do not need to apply for permission to reside somewhere else, because you already have the right to do so. Travel. A second passport can make it easier for you to travel to many countries, especially if you now hold a restricted passport such as a Hong Kong Certificate of Identity, or a Taiwanese, Israeli or South African passport. Depending on your choice of second passport, or second nationality, the process of gaining entry to many other countries can be made much more simpler. Safety. Even if you hold one of the world's most respected passports~ such as that of a US citizen, there can be times when you wish you were able to show some other piece of identification. For example: when the aircraft in which you are traveling is hi-jacked by anti-American terrorists. Business and work. Another passport will more often than not give you the right to work and do business in its country of issue without obtaining a work permit, and similar advantages above and beyond those of your current national status. Citizenship of a member state of the European Economic Community gives you the right, under the Treaty of Rome, to live, work and/or establish a business in any other member country of the EEC.
Taxes. A change of residence or citizenship (depending on your current nationality) can, if properly handled, save a high taxpayer a significant amount of money. There are many reasons why you might want a second passport. But the process of obtaining one from most countries usually requires 5 or 6 years residence in the country concerned. Unless you really want to go and live there right now, that price may be more than you want to pay. You may have to give up, in whole or in part, your present career and life pattern. Moreover there are often many hurdles to surmount in obtaining the initial right to reside without which the qualifying period of residence cannot even begin; so the number of people who do qualify is small compared with the numbers of people who would like to do so. A different way to acquire a second nationality is simply to buy a passport. Libertarians may find this distasteful on the grounds that we should be free to live and work anywhere in the world without restriction. Often, too, a large chunk of the price goes to useless government officials (direct bribery), or is spent by the government on grandiose projects (indirect bribery).
In reality, you can buy a passport from any country — it is merely a question of price. The laws of the US, for example, which contained at the time no provision for investor immigration or business immigration, did not prevent people like the Australian Rupert Murdoch from becoming a US citizen. If you have lots of money and good lawyers you can get in anywhere. Countries where citizenship is not ostensibly for sale nevertheless compete quite blatantly for the patronage of wealthy individuals. They create provisions in their immigration laws for the admission of business migrants with wallets fat enough to provide governments with help in getting re-elected by claiming to have saved or created jobs by their wise policies. Examples? Canada, Australia and New Zealand. Other place less emphasis on the immigration aspects of inward investment but, as a by-product, immigration possibilities are nevertheless there — they have to be, to enable the investor to keep a close eye on his investment, or he will not part with his money. Examples? The Philippines and the UK. Some countries look to import the spending power that persons in retirement can bring in response to offers of immigration rights — often on condition that they are not allowed to compete with the native workforce, which has the votes.