Four Reasons to Get a Secondary Passport Today

Business opportunities continue to open up around the world. For ambitious entrepreneurs and business people, travelling has more or less become a way of life. There is one hindrance though; Passports. A passport is not just a mere travel document. They are relevant documents that affect where an individual can visit and who they can do business with. Your first passport may limit your movement and deter you from exploiting a lucrative business opportunity. But, you can always get a second passport by investment. This passport can open a whole new world of possibilities for you. Here are some of the advantages that come with a second passport.

You Can Travel Visa-Free

Enjoying visa-free travels or Visa-on-arrival is one of the best feelings. The process involved in getting a visa can be super hectic. But if you get a passport from certain countries like Dominica which offer second citizenship by investment, you will not need a permit to access well over 127 countries. If that’s not enough, with a passport from Portugal, you can visit over 175 countries.

Tax Benefits

Tax benefits or tax incentives for investments are some of the things that a business person or entrepreneur looks out for. And they can get a second passport exclusively to enjoy tax benefits. Taxes can hurt a business or limit it from reaching its potential. That is why Caribbean countries have become so popular with second passport seekers because they offer lower tax rates than most countries.

Investment Opportunities

A second passport gives you access to the financial benefits that come with being a citizen of the country you acquire nationality in. You can invest and grow your business in a foreign country, thus diversifying your income. However, not all countries allow foreign investments. Some nationals from specific countries can be barred from taking advantage of the excellent exchange and interest rates even after attaining a second passport.

It’s an Escape from Instability

It does not matter which kind, whether it’s political or economic; a second passport will work as an escape route. In case you experience any unfavourable practices in your home country, you can always relocate and start afresh. The same may apply to business. If your business is not doing well in your home country, you may go and start it in another country, and it may end up succeeding.