Most Europeans enjoy great benefits thanks to the access that their passports provide within the Schengen Zone. Nevertheless, one thing is to have great access to other countries with one passport, and another thing is to expand that access even more by having two.

A passport is not only a way to get fewer immigration controls, it is also a way to pay fewer taxes. In most of the European countries, you can hold multiple passports, and be a citizen of different countries at the same time.

In this article, you will get to know the advantages of a second passport for Europeansand valuable information to improve your decision when studying which one to choose.

Why should Europeans need a second passport?

Despite the fact thatinstitutions such as the OECD want to make us believe that the western world is the land of the free and it´s leaded by Europe, things are not looking good for the old continent.

Due to the pandemic, the European states (and not only) have implemented draconian laws that are affecting and seriously limiting basic human rights.

And this is only the start as the crisis promises to leave unmeasurable economic consequences that will last for years.As we stated on our first edition of the Mundo magazine, which you can read here, the economic crisis, along with the high anxiety levels because of the lockdowns and the uncertainty of these times, will bring nasty consequences. Mundo predicts riots, social unrest,and the biggest financial cancer: high taxation.

The strongest governments are the most powerful and precisely Europe, the US and other economic giants are most likely to increase the restrictions and the taxes too.

For this reason, a second passport for Europeans becomes a matter of necessity in our days.

How to get it?

Naturally, if you already are a citizen of an EU country, you are allowed to live and work anywhere in the European Union and maybe you don’t consider a second passport as a priority. Also, some European countries have barriers for its citizens regarding dual citizenship, so the first step is to investigate if yours is one of these.

Nevertheless, if you think broader, you can obtain a second passport outside the EUthat will be a part of your escape plan.

For instance, some countries offer easy access to a second passport through the program of citizenship by investment. This method is one of the easiest and fastest to obtain a second passport. It is also known as “economic citizenship” because some countries offer citizenship in exchange for investments within their territories. In some cases, this takes about six months to get it done. However, in general, the prices for citizenship by investment programs go up over time.

A great example is Dominica, which has amended its citizenship program to include a real estate option. You can now invest just $200,000 (€168,973) in real estate to obtain a second passport.

Another well-known destination is St. Kitts and Nevis since it is the oldest second passport program by investment for Europeans. To applyyou must invest $400,000 (€337,946) in government-approved real estate projects (plus costs) or can make a donation to the government ($150,000 for a family of four). This grants visa-free access to over 100 countries. The process usually takes three months. Read our article on Saint Kitts and Nevis here.

Also, you can apply to the Grenada passport program. We offer the possibility of receiving a second passport for a real estate investment of $220,000 in a five-star hotel in the best beach in Grenada.

However, these are only a few examples of ways to get a second passport for Europeans, but our team of experts at Mundo can help you find the program that suits you better.

Benefits of a second passport for Europeans

As you have seen, there are some different options worldwide for obtaining a second passport if you’re European. Nevertheless, the choice is up to you and depends on your profile and needs. A second passport can allow visa-free travel to certain countries. For example, Grenada allows you to travel to China and Russia. In other words, if the world doesn´t collapse due to the coronavirus, you´ll be having access to major economic markets where you will be able to travel visa free. Antigua and Barbuda is especially known for this feature.

A second passport for Europeans can be the key to new and broader opportunities. You can obtain not only more freedom of movement but also tax benefits and even a back-up plan in case you are forced to need it.

European citizens usually don’t face traveling or immigration obstacles when going abroad, but sometimes geopolitical tensions can change that. Therefore, holding a second passport can be a good thing to have if that’s the case. Depending on the country you applied for a second passport, it can make your travel access to other countries even broader.

Also, don’t trust anyone who tells you that having a second passport is the answer to stop paying taxes forever. This is not necessarily like that, but what is true is that it can give you a tax-optimized life. For example, acquiring a Vanuatu passport and relocating there will mean zero income tax on your worldwide income.

Moreover, if the world does collapse, then you definitely want to be in a country with easy access to food, clean water and air and peaceful population. Being an island in the Pacific, Vanuatu is far away from the major big brothers and modern empires and you are less likely to catch a virus there.

What can we do for you?

This information is a first and brief approach of the benefits that Europeans can have with a second passport. Remember that even when it can seem tough at first, what you need to do is gather the right amount of information and ask for the help of experts.

But don’t worry, here at Mundo we got you covered. We offer top-level financial, immigration, investment, and corporate services that can be helpful in this process of obtaining a second passport.

Also, if your predilect option is the Citizenship by investment, you can check our articles to decide which country offers the best options for you. For more information and if you have any inquiries regarding our services, contact us right now!

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