Countries are tightening their borders to where being a citizen of certain countries is becoming a privilege, and the smartest thing to do is get a second passport that allows your visa-free entry into many advanced countries, freeing you from the hassles of applying for visas at foreign embassies and freeing you from a country where you may be in servitude.
This article focuses on the five most straightforward countries to get a second passport. We were convinced that, as the world is rapidly becoming a global village, and the rate at which young people are moving throughout the world, far away from their homelands, it is pure folly to box oneself into a corner by remaining in a country that does not plan for the future.
Let’s look at 5 countries where you can get a second passport even if you aren’t a millionaire.
1. Guatemala
The Republic of Guatemala is a Central American country with a low cost of living and a straightforward tax system. The Guatemala citizenship investment program is worth considering because it allows interested applicants to purchase government bonds for $50,000 USD, which automatically qualifies them to apply for Guatemalan citizenship and a passport. This should be done over a five-year period, at the very least.
You must also be prepared to stay in Guatemala for a minimum of 21 days during the processing time. Prospective applicants must be at least 18 years old. Other benefits of possessing a Guatemalan passport include the ability to travel visa-free or with a visa on arrival to over 116 countries, including most Western European countries.
2. Latvia
If you pick Latvia, there are three options to expedite your citizenship process.
- Investing in real estate. This scheme allows foreigners to purchase real estate anywhere in Latvia and receive a five-year temporary residency permit automatically. Presently, the average real estate investment is around 350,000 dollars.
- The second program is to start a new business and apply for residency because you are the owner. The provision states that a minimum investment of around 50,000 US dollars is required, with an annual return of around 40,000 US dollars possible. However, if you have more money to invest, say $200,000, the tax is automatically decreased.
- Make a bank deposit: To qualify for a second residency in Latvia, a foreigner must invest $400,000 in Latvia as a fixed deposit for five years.
3. Granada
Grenada is an island republic in the Caribbean Sea bordering Trinidad and Tobago, is our final destination.
The approach of the National Transformation Fund (NTF)—This is a onetime donation to the NTF. To qualify under this strategy, an applicant must make a minimum donation of $150,000 US dollars.
Investing in pre-approved real estate is a great way to start. Under this approach, an applicant must purchase real estate or invest $350,000 and maintain ownership for a minimum of three years.
4. Dominican
Dominica, an English-speaking Caribbean island, is another option to consider when selecting a country for the second passport.
The benefits of possessing a Dominica passport include the ability to travel visa-free or with a visa on arrival to around 122 countries, including most of the European countries that make up the Schengen region, as well as unrestricted admission into the Swiss Confederation.
Because you must attend the interview in person and the committee only meets once a month, receiving your passport could take up to 14 months. If you want to invest in real estate or buy a home, you will need at least $200,000 in US dollars. See 5 countries to grant citizenship easily.
5. Paraguay
Paraguay is a country in South America. It is a popular tourist destination for visitors from all over the world, is one of the easiest countries to get a second passport from. Choose Paraguay if you want a South American destination.
Paraguay offers you one of the world’s cheapest citizenships by investment. All you need is a $5,000 US dollar bank deposit and a few years of legal residency in the nation to qualify for Paraguay citizenship.
Source: Nyscinfo