Chapter 1 - Why Do You Want A Second Passport
A second passport can give you peace of mind. It can help save you taxes. It can expand your travelopportunities. In some circumstances a second passport could even save your life. Here morespecifically are some of the reasons why you might want a second passport.Residence.Residence gives you the right, without having to ask permission, to live and work in the country of your choice.Security.“Just in case.” The world is an unstable place. Anything could happen — although it probably won’t.Against the day when it might, however, a second passport, or second nationality, means that whenyou decide you’re no longer happy in your normal place of residence, you do not need to apply for permission to reside somewhere else, because you already have the right to do so.Travel.A second passport can make it easier for you to travel to many countries, especially if you now hold arestricted passport such as a Hong Kong Certificate of Identity, or a Taiwanese, Israeli or SouthAfrican passport. Depending on your choice of second passport, or second nationality, the process of gaining entry to many other countries can be made much more simple.Safety.Even if you hold one of the world’s most respected passports~ such as that of a US citizen, there canbe times when you wish you were able to show some other piece of identification. For example: whenthe aircraft in which you are travelling is hi-jacked by anti-American terrorists.Business and Work.Another passport will more often than not give you the right to work and do business in its country of issue without obtaining a work permit, and similar advantages above and beyond those of your current national status. Citizenship of a member state of the European Economic Community givesyou the right, under the Treaty of Rome, to live, work and/or establish a business in any other member country of the EEC.Taxes.A change of residence or citizenship (depending on your current nationality) can, if properly handled,save a high taxpayer a significant amount of money.There are many reasons why you might want a second passport. But the process of obtaining onefrom most countries usually requires 5 or 6 years’ residence in the country concerned. Unless youreally want to go and live there right now, that price may be more than you want to pay. You may haveto give up, in whole or in part, your present career and life pattern. Moreover there are often manyhurdles to surmount in obtaining the initial right to reside without which the qualifying period of residence cannot even begin; so the number of people who do qualify is small compared with thenumbers of people who would like to do so.
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