good morning to the lecturer and friends today we are discussing

about if dual citizenship is a good idea or no.the speakers for today

are myself shahrul iqbal panel 1,panel 2,nurin iffah,panel 3 ,nur jannah
farhanna and panel 4 nur hanani.I would like to start off by saying that
getting a second citizenship is a good idea.this is because
A SECOND CITIZENSHIP GIVES YOU A SECOND
RESIDENCE
Guaranteed residence is certainly the unsung benefit of getting
dual citizenship.If you have citizenship in a particular country, then you
have the freedom to live there as you choose to legally lower your tax bill,
open up new investment markets, and enable yourself to live abroad, if you
so choose. You don’t need to fuss with residency requirements or visas to
get in.Getting dual citizenship also ensures that you have somewhere to go
if you need to get out of your home country.If you have the budget, for
example, you could make a 250,000-euro donation to the arts in Portugal
and receive residency and, eventually, citizenship in that country in return.If
you’re thinking about buying a second home for vacations, rental income,
or an eventual retirement residence, it makes financial sense to take
advantage of all the available tax breaks. The cost of owning a second
home can be significantly reduced through tax deductions on mortgage
interest, property taxes, and rental expenses.

Another reason for getting a second citizenship is that having a fail-safe in

case you need to leave your country of residence is a good idea.If you’re a
citizen or permanent resident of the United States.While noone think that
the US is going to descend into chaos anytime soon,There are plenty of
valid reasons why people would want to get out.On the other hand,The
Malaysia My Second Home program is a great fit for expats frustrated by
the large amounts of money expected from other second residence
programs that often demand that you actively manage a local business.
However, the program isn’t ideal for entrepreneurs who are just starting
their careers. This visa program demands that you have funds
approximately $120,000 in liquid assets and $72,000 to invest and time to
spare while completing the process which is an easily-obtained travel visa
or the Labuan work permit or the Malaysia My Second Home (MM2H) visa
program.MM2H visa provides an several of lifestyle benefits for you and
your family or you are looking to start an offshore business with low income
tax rates, Malaysia offers many benefits.By getting dual citizenship, then,
you create your own exit strategy by having a place where you can always
go to.

GETTING DUAL CITIZENSHIP GRANTS

YOU ACCESS TO NEW OPPORTUNITIES
OR SOCIAL BENEFITS
Thank you panel 4,you say that dual citizenship That is why it is
pivotal to consult with your embassy so that you would not meet
complications such as double taxations or limitations of your rights.
Another reason why many people get dual citizenship is to take advantage
of that country’s social services,mostly healthcare.For example, formerly
known as the fastest man in Malaysia, athlete Watson Nyambek was
declared bankrupt in 2016 because he was unable to service a staggering
amount of bank loan of over RM100,000. He borrowed this money to fund
his father’s medical expenses, who was suffering from ear cancer. His
father succumbed to cancer in 2014, but Watson has not been able to pay
back the loan as he had other financial commitments to fulfil.So even if
you’re already successful, the stability offered by countries with highly
developed social services can be quite desirable.If you move to a country
in the EU, for example,Portugal claims the top spot according to Healthcare
category of International Living’s Annual Global Retirement Index
2020.Portugal has some of the finest doctors and medical training available
anywhere. Teaching facilities include the School of Health Services at the
University of Minho in the north, the Faculty of Medicine at the University of
Coimbra in the center renowned for its expansive research fields and Ph.D.
programs and the Faculty of Medical Sciences of the New University of
Lisbon in the south.Affordable, professional healthcare in Portugal costs a
fraction of that in the United States and Canada, and savings also exist for
those from the U.K. and other countries who choose Portugal as a
destination for routine and elective procedures. You can enjoy low cost
health care, send your kids to school in any EU country inexpensively, and
enjoy pension benefits when you retire.
SECURITY PROBLEM
Apart from enhancing the integrity of travel documents, Malaysian passports
have also had a facelift in quality wise in a bid to curb forgery attempts and to
protect the identity of Malaysians.