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2 Citizenship Planning Chapter Summary

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Henley & Partners was the first firm to globally specialize in the unique field of Citizenship Planning. Today there are many reasons why you should consider becoming a citizen of more than one country.

There are a variety of different benefits to alternative citizenship. As citizenship may impact on your tax status, it could be a key factor in international tax planning. Alongside this, you may gain more privacy and security across your banking and investment portfolio. Frequent travellers, especially those who often require visas, find a second citizenship invaluable in ensuring flexibility and the ability to travel at short notice. Those who have the need to live a safer country than their own, either now or in the future, can obtain that security through citizenship.

The most common factors in acquiring citizenship are by birth, by descent, by marriage or by grant. The US is an important example of the few countries that still grant citizenship by birth. Many people will be entitled to another passport by descent or by birth, and this may be easy to establish.

If birth, descent or marriage do not offer a solution, there are other options open to wealthy or skilled individuals. Three countries offer citizenship-by-investment, Austria, the Commonwealth of Dominica, and St. Kitts and Nevis, and can give you a new passport swiftly and legally, which is of paramount importance, as illegal options are commonplace.

When considering any of these options, you must remember to take guidance on dual citizenship, as roughly only half of the world’s countries allow this.

Finally, and of great importance, is the reputation of the country and its passport. The level of visa-free travel it affords you will be critical in the impact and benefits it has on your life.

The term citizenship planning was created by Henley & Partners, the first firm to globally specialize in this unique field. In recent times and to a greater extent since the dramatic events of 9/11, questions of citizenship, visa restrictions and freedom of movement have become more and more important for internationally active individuals and families.

Indeed, there are many reasons why you should consider becoming a citizen of more than just one country, and consequently hold more than one passport.18

Global Residence & Citizenship Handbook

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