Along with a second passport, a person can also have a New Identity.
The coronavirus pandemic has transformed the world in every way imaginable. Things have changed even for US passport holders. While their passport granted Americans visa-free access to as many as 185 countries around the world, pandemic-related travel bans and current EU restrictions have drastically reduced their options for them.
Dual nationality has emerged as an attractive proposition for them in the current circumstances. Apart from the COVID situation, there are several other reasons why US citizen wants to get a second passport along with a New Identity. Let us explain why you might want to seriously consider it in the future.
Travel without restrictions
As a dual citizen, you have the freedom to travel between the two countries that allow you to carry their passports. If you hold a citizen’s passport, you do not need to obtain a long-stay visa or have to answer questions about the purpose of your visit during customs checks. Every trip is hassle-free as you don’t need to go through tedious formalities and gather documents for visa approval. All you have to do is book your ticket and you are ready to fly. If you need to travel anonymously, then a second identity can be invaluable in your quest to protect your privacy.
Explore business opportunities abroad
Some countries have favorable business landscapes and lucrative markets that entrepreneurs want to explore. You can enjoy the benefits of liberal trade policies, low tax rates, and massive demand by operating in these places. Getting a second passport for the country where you want to set up your business is a great idea as it opens up your business to various benefits. For example, you can easily buy real estate, register as a local, and get business discounts in a dual citizenship country. A second identity can protect your financial assets from being exposed to taxes from both domiciles and limit Government entities from accessing your confidential financial records.
Reconnect with your roots
For US citizens who have their roots in another country, a second passport is an opportunity to reconnect with them. Obtaining Italian citizenship through grandparents is easy if you follow the right process and have the relevant documents to validate your lineage. Similarly, countries like Canada, Mexico, Brazil, Israel, New Zealand, Ireland, and the United Kingdom grant you a second passport if you can prove ancestral family ties there.
Safe tax savings
Saving on taxes is another good reason to apply for a second passport. If you think most of your income goes to paying your tax bills, moving to a “low-tax” country is a smart move. You don’t have to worry about double taxation if you opt for a second Italian passport, as the US and Italian governments have put in place relevant treaties to avoid the tax burden for dual citizens in both countries.
Applying for social benefits
Americans are eager to obtain a second passport because it provides access to social benefits from the country of their choice. You can move to a quieter location after you retire and benefit from quality healthcare facilities that fit your budget. Moreover, you can even consider dual nationality for your family if you want to access quality and low-cost higher education for your children. Although people from other countries want to live the American dream, American citizens see dual citizenship as a smart move. Although obtaining a second passport can be a complicated and time-consuming process, it is worth it.
Amicus International Consulting can provide an expedited solution to all your concerns by providing a completely new identity. Contact us for a free consultation today.