Monday, July 6, 2009

Get A Dual Citizenship By Investing.

By Tracey Gordon

You can now enjoy a dual citizenship or own a second passport via business migration, since several countries are looking to improve their economic conditions by global economic reforms.

Dual citizenship means that you are legally recognized by both the countries as their citizens as per reasons cited by individuals. Some reasons why a second passport or business immigration is obtained are for investment and easy access to financial investment rights. Often immigration to a certain country is granted if you are planning to invest in a business or start a business which employs locals, and in turn is responsible for promoting the economic growth of that country. Immigration laws of certain countries welcome immigrants if they have enough funds to invest for any legal commercial activity; this is known as investment immigration.

You can enjoy the legal benefits and privileges of both the counties if you are looking at business immigration, e.g. owning property, free enterprise and most importantly tax benefits. Your second passport or dual citizenship is easily available if youre investing a sizable capital as an investment in the adopted country. Business immigration benefits those who mostly come for politically unstable countries mainly because of their changing economic policies.

Business immigration also acts as a stimulation package for the economy of the country that you are an immigrant to. This is so, since new business means employment opportunities for its locals as well as investment capital that spruce up the economy.

There are few requirements to be met in order to become an immigration investor.

a) You will need to invest the required amount as stated by the countrys law.

b) Specified no of jobs will have to be created for the locals.

c) You can either buy a business or start a new one.

The reasons for wanting to attain a second passport or dual citizenship of a particular country that is targeted at business investments are;

i) You are not free to invest where you want to in your parent country.

ii) You many are allowed to invest in globally stable markets or in offshore mutual funds because of your countries strict investment and economical policies.

iii) Your assets are the target of litigation or you have a lot of taxes imposed on you.

iv) Purchase of land for commercial or business purposes in your country come with certain restrictions, taxes and red tapes.

v) The changing political scenario and instability in your country make it difficult for your business to function and expand smoothly.

You can now improve your banking secrecy with your second passport or dual citizenship which is responsible for enjoying the best of both the countries.

You can invest in a specific capital amount as a unit trust, invest in a commercial business or own it, since several countries welcome affluent investors and welcome them with relaxed immigration laws and norms.

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