Second passport programs open doors throughout the world, giving a UAE-based investor opportunities to do business in and visit a wide array of countries you may not otherwise have the ability to. Having the right passport can extend your trips and offer numerous benefits that a passport from a different country wouldn’t provide. Having a second passport provides great advantages, but it’s just as important to choose which country you secure a passport from.
To learn more about the benefits of having a second passport as a UAE resident and how to choose from the countries that offer them, read below and discover your best options.
Benefits of a Second Passport
The advantages of having a second passport cannot be understated and amount to more than a greater ability for leisure travel. Here are the top benefits of having a second passport as a UAE resident:
- Visa-free travel: different countries have different types of treaties with other nations that include visa-free travel. Having the ability to travel without filling out visa applications or gathering additional requirements makes for easy travel.
- Business opportunities: As you will be able to travel to countries without a visa, you have more opportunities for business ventures and networking.
- Tax Advantages: depending on the country that issues you a second passport, you may receive incredible tax advantages as anyone who holds a passport is a citizen of that nation.
- Haven: holding a passport from a country other than your home nation means having the ability to leave if ever needed and with the advantage of being treated as a citizen in that country.
How to Get a Second Passport: Citizenship by Investment
The traditional ways to gain another passport are either through ancestry, marriage, naturalization, or immigration. Unless in a relationship or have a direct relative of the country you want a passport from, the road to gaining another passport rests on a long process filled with many requirements and an extended timetable with no guarantee of success. For UAE investors, the most reliable and quickest way to secure another passport is through a Citizenship by Investment (CB) program.
The Citizenship by Investment program consists of an applicant making an investment in a government-approved development or fund in exchange for citizenship in that country. Each nation has its own laws and processes for how to become a citizen via investment. While they offer a donation to a government fund, a real estate route is usually more preferred by the applicants.
Countries with Excellent Citizenship Programs
Many countries offer Citizenship by Investment programs, but the nations with the most celebrated second citizenship programs are in the Caribbean. There are three in particular that offer the best advantages for UAE-based investors:
Grenada
Grenada is a popular choice among investors for the amount of visa-free travel their passport and citizenship grants an applicant. The benefits of pursuing investment citizenship include:
- Visa-free travel to over 140 countries, including the United Kingdom, the Schengen countries, and China.
- Dual citizenship for life: The investor and their family are granted citizenship in Grenada that passes down through the generations, and includes unlimited dependents without being required to visit or reside in Grenada.
- The investor can grow their wealth through their investment by benefiting from Grenada’s tax-efficient jurisdiction.
- Exiting the investment after a 5-year holding period, without the loss of citizenship in Grenada
To learn more about Grenada’s Citizenship by Investment program, we encourage you to read here:
Saint Kitts & Nevis
St. Kitts and Nevis have the oldest Citizenship by Investment program in the Caribbean, providing its own array of advantages that investors residing in the UAE could benefit from:
- Visa-free travel to over 157 countries, including Singapore, the Schengen countries, and the United Kingdom
- Dual citizenship for life. The main applicant and their family are granted citizenship in St. Kitts which is passed down to their descendants without a requirement for residency or visiting St. Kitts first.
- St. Kitts and Nevis is a member of the Commonwealth, entitling citizens to certain privileges in both the U.K. and other Commonwealth nations.
- Investors can grow their wealth through their real estate investment by benefiting from the tax-efficient jurisdiction.
- The applicant can exit their investment after a 7-year holding period without losing their citizenship or benefits.
To learn more about St. Kitts’ CBI program, we encourage you to read here:
Dominica
Dominica’s Citizenship by Investment program is celebrated due to the wide-ranging opportunities it provides applicants through the many benefits it grants citizens:
- Visa-free travel to over 140 different countries
- Dual citizenship for life. The principal applicant and their family are granted citizenship for life and are passed down to their descendants without a requirement for residency or visiting Dominica first.
- Investors can grow their wealth through their real estate investment by benefiting from the tax-efficient jurisdiction.
- The applicant can exit their investment after a 5-year holding period without losing their citizenship or their benefits.
To learn more about Dominica’s CBI program, we encourage you to read here:
Securing Dual Citizenship for United Arab Emirates-based Investors
Second passport programs in the Caribbean provide a wide range of advantages that rival CBI programs throughout the world. The most difficult part of the process is choosing which country to pursue dual citizenship and with whom to align your investment. We at Range Developments have CBI resorts in each of the countries above, providing citizenship opportunities in luxury developments no matter which of the Caribbean nations an investor chooses.
Range Developments has extensive experience guiding applicants through the CBI process and holds productive relationships with each of the governments offering a second passport opportunity. By aligning with Range Developments, you gain the advantage of citizenship with a partner who is the leading and most successful developer in the Caribbean.