Countries Where you can buy a Second Passport

One of my favorite plot tropes in action films is when the agent/spy/hero goes to a safe deposit box in a secure location, pulls out numerous documents, the currency of multiple countries, and plots their next move.

I would always imagine that it was I who was shuffling multiple passports of various countries and contemplating my next move.

Well, you can’t own a dozen passports like Jason Bourne or James Bond, but American citizens are allowed to own two passports at a time.

Only about 40% of Americans even own a passport. So, why even own dual passports? How can owning two passports help you financially?

Some people own dual passports because of their parent’s dual lineage. Or, international geopolitical or religious tensions can prevent entry in various countries.

Many people also get a second passport for business, investment, and retirement reasons.

With the right business plans, entrepreneurial vision, and adventurous spirit, you can invest in a second passport and fund an international business dream.

It can cost you anywhere from $10,000 to $125,000 to launch a business in the United States.

So, if you have funds like that to invest, why not invest in a new life and strategically planned business in a new country? It might make more sense than opening another coffee or auto parts shop in the Unites States.

There are many countries that are very eager to attract foreign emigrants, especially Americans with ambitious entrepreneurial zeal, and award them second passports for applying for citizenship.

Here are three countries that will give you a second passport, dual citizenship without the need to renounce your citizenship, and the right to gain your second citizenship most on your own terms (meaning you don’t have to reside in the country for months or years during processing).

The cost? Anywhere from $5,000 to $100,000 before paying additional processing fees.

Paraguay

Second Passport Cost: $5,000 to $10,000 + processing fees

Asuncion, Paraguay

OK. Some of you may be asking yourselves…what is a Paraguay?

Paraguay is a picturesque country in southern South America. It is a landlocked country that is surrounded by Argentina, Bolivia, and Brazil.

While Paraguay has a lot of rural and remote towns, it is one of the most rapidly modernizing countries in South America. It has one of the most rapidly growing economies of the last decade in the world.

Only capital gains and income are taxed in Paraguay at a cap of 10%. Paraguay has no net worth tax, inheritance tax, estate tax, and no capital acquisition tax. Foreign income isn’t taxed in Paraguay.

You don’t have to primarily live in Paraguay or work there to maintain a second citizenship either. Also, once you gain a Paraguayan citizenship, you’ll own it for life.

Paraguay is not known for its jumping and exciting night life. It is a relatively quiet and unexciting place to live admittedly. Many European retirees call this country home.

However, the Paraguayan government has been anxious for years to attract foreigners to relocate, invest, and inject international business interests in the country.

Relatively speaking, Paraguay is one of the easiest countries in the world to obtain citizenship and a second passport.
It will cost you about $5,000 to $10,000 per person to apply for a second citizenship in Paraguay. The best way to begin the process is to visit a Paraguayan embassy near you.

Expect to wait three to six months for processing. Here is more information on the topic.

Antigua and Barbuda

Second Passport Cost: $100,000 + processing fees

Antigua and Barbuda is a developing country of distinct international business import located in the Caribbean. It is located about 320 miles to the southeast of Puerto Rico.

The main businesses of note on the islands, especially those that could be of interest to enterprising foreigners considering emigration, are tourism, fisheries, manufacturing, and agriculture.

Antigua and Barbuda, like the rest of the Caribbean and the Southeastern United States, are subject to hurricane threats every year. However, the countries are popular tourist magnets, feature breathtaking beaches and oceanic views, and are inhabited by welcoming locals.

By directly investing in Antigua and Barbuda’s National Development Fund, you and your family can acquire a second citizenship and a second passport.

 

It costs about $100,000 for the minimum investment into Antigua and Barbuda’s NDF.

The $100,000 fee covers the processing cost for one person. For a family of four, that probably amounts to $160,000 in total after all processing fees are assessed.

You can also buy real estate worth over $400,000 or a business worth over $1.5 million to achieve the same ends.

Also, you don’t have to take up residency in the country to maintain citizenship.

Expect processing to take up to half a year at the minimum, but it could take longer.

Additionally, you would undertake the same application processing to secure a second passport in Grenada or St.

Kitts and Nevis, although at a starting price of $150,000.

Moldova

Second Passport Cost: $111,000 + processing fees

Moldova has only existed as a country since 1991. It is a former Soviet bloc country. Moldova is landlocked between the Ukraine and Romania. Romanian is the primary language spoken there.

As country, Moldova is not exactly a tourist hotspot. It is in fact one of the poorest countries in Eastern Europe.

OK, before I oversell it, why would you want to own a Moldovan passport?

Well, Moldova could become one of the most geopolitically and economically important Eastern European countries in the next decade or two.

China is investing heavily in nearby Black Sea adjacent regions. Both the European Union and Russia are politically jockeying to secure lucrative, long-term business relations in Moldova.

Moldova has some of the most fertile and mineral-rich soil in the area, a commodity that will mean big business as the E.U. grows and Eastern Europe steadily modernizes.

You’ll have to learn Romanian, the local business politics, and have a solid business plan. However, wise investing is all about financially investing at strategic moments for gains in the long term future.

The Moldova Citizenship by Investment program process costs about $111,000 for an individual, $128,000 for a couple, and about $160,000 for a family of 4.

Second Passport Ownership Planning

There are many countries where you can apply for a second passport. However, the costs, application process, and visa processes vary.

Always attempt such processes through lawyers or embassy officials. There are many businesses and facilitators who will charge, or scam you, for services you can do yourself or should get a lawyer or embassy to do.

I don’t pretend that applying for a second passport and citizenship to another country will be easy.

However, if you plan to start a business or a new life, why not try to do so on your terms via strategic international business planning?

Life is too short to start a business, or a new life, in the same way everyone else does.

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