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July 25, 2018

Is a Second Passport the Best Insurance to Protect Your Family?

Posted by:
Elevay Global

Citizenship by Investment Programs are often sought-after from a corporate perspective – to ensure ease of travel for business. But many investors are turning to these programs because of the additional benefit afforded to them, namely, the ability to protect their loved ones. While those unfamiliar with citizenship by investment might assume that a second passport would require a complete upheaval of their current lifestyle. This is not the case. Acquiring a second passport does not necessitate relocation and in many cases, it does not even require an exploratory visit to the country issuing the second citizenship.

How does a second passport protect your family?

Why is acquiring a second passport the best insurance imaginable when it comes to protecting your family? The answer is layered. Meaning, the further you look into second passports, the more benefits you will find.

Maintaining Family Wealth
First off, succession planning is key in terms of maintaining your family’s wealth. Citizenship by Investment programs offer individuals the opportunity to both grow and protect their wealth. Again, there are numerous ways in which acquiring a second passport fulfills this goal. The ability to invest in real estate and companies in another country ensures that one’s investments are diversified, and may also provide certain taxation benefits. From another perspective, in today’s sometimes politically unstable world, the ability to reallocate funds in the event that the situation became unstable in one’s country of origin is another benefit.

Avoid Political Instability
Speaking of political instability, in the event that it ever became necessary, you would also have the opportunity to move your family to a safer area. While this scenario may seem unlikely, you can never anticipate utilizing any type of insurance until an unfortunate situation necessitates it. Citizenship by Investment ensures that you have options when it matters most.

Of course, when it comes to health-related matters, a second passport also offers numerous benefits for your family members. Many of these programs offer dual citizenship, which provides your family with the opportunity to take advantage of services available in both countries. Should unforeseen health issues arise for your dependants, medical services would be available in numerous locations which may decrease wait times and increase the chances of a swift recovery. Not only that, having a second passport provides you with the ability to travel to a wider array of countries without the need to apply for a travel visa. In some cases, this increased mobility could mean the difference between life or death; or between adequate medical care and outstanding medical care.

Lastly, an investment in education is an often overlooked type of insurance that a second passport can provide. You will have comfort in knowing that your children will be provided with the best advantages possible when it comes to future employment opportunities. A second citizenship gives access to some of the top educational institutions in the world. Obviously, Citizenship by Investment increases the chances that your children will succeed both from an educational perspective, and a culturally enriched standpoint as well.

If these advantages come as a surprise, one would be best off consulting an experienced consultant as there are many additional conveniences afforded by Citizenship by Investment Programs. It is of utmost importance to connect with an experienced and trustworthy company. Elevay, based in Dubai, has been in the business for more than fifteen years. Our consultants are known for looking at the big picture-meaning, they will help you seek the program that will best benefit both you and your family.

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To get more information or answers to any of your questions about citizenship by investment, be sure to request your free, no-obligation consultation today.

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Book Your Free Consultation

Speak with one of our citizenship and residency advisors today to find out how a second passport or residency can enhance your life. Our experts will guide you through the process and match you to the program that best meets your needs. Book a completely free, no-obligation consultation today.

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