Exploring the Essence of Dual Citizenship in 2024

As the name suggests, dual citizenship means holding the citizenship of two countries simultaneously. The concept of dual citizenship is becoming immensely popular, and the rules and regulations vary from one country to the other. Until 1967, the United States didn't grant dual citizenship. However, per the present state laws, American citizens are privileged to maintain dual nationality. While many countries worldwide allow dual citizenship, some have yet to legalize it.

The countries on this list currently include China, Japan, Bahamas, Nepal, Thailand, Haiti, Malawi, and Laos. In 2024, dual citizenship doesn't just mean the accessibility to live in two countries together. It comes with a whole lot of advantages as well, which we will touch upon distinctly. Let's get started.

What are the Benefits of Dual Citizenship?

When you have attained the right to live in two countries at a time, you get many benefits, including traveling privileges, healthcare and education benefits, business opportunities, and so on. As mentioned, dual citizenship rules vary from one country to another. If we were to talk about U.S. citizens, they may attain foreign citizenship through marriage.

Moreover, if U.S. citizens give birth to a child outside their country, then that respective kid will attain citizenship of that particular country and the United States.

Another way of achieving dual citizenship is through residence by investment, wherein one can live and work in another country and may even acquire citizenship eventually. Let's elaborate on the benefits one may acquire in dual citizenship.

Opportunities to Travel

This is one of the most significant advantages of acquiring dual citizenship. You can travel to other foreign locations without any permit or visa. There aren't any restrictions or limitations for your stay there. You could reside in that country for any duration as per your will. This, indeed, is a boon.

Suppose I were to talk about residence by investment. In that case, this one allows you to travel freely in and around the vicinity of the particular country for which you have applied for the visa. For instance, if you have acquired the Portugal Golden Visa, you can take advantage of free travel to the Schengen region, which includes around 27 countries like Estonia, Germany, Estonia, Finland, etc. The same goes for the Greece Golden Visa, which permits visa-free access to the Schengen areas.

Scope for Work and Business

Another advantage of dual citizenship is that it saves you from the lengthy procedure of attaining a work permit for employment in the country you have attained nationality. Golden visa holders have this privilege also.

For example, if you have the UAE Golden Visa, you can seek the benefits of working in any company there until your visa is valid, anywhere between 5 and 10 years. You even get the scope of investing in new markets in the country where you have acquired second citizenship. This widens your business opportunities and gives you increased exposure.

Healthcare and Education Facilities

Citizenships in two countries give you better educational opportunities and a more advanced healthcare system. If a country doesn't have proper healthcare, then for better facilities, an individual could seek assistance from the other country where he has second citizenship.

The same goes for education also. When you have the citizenship access rights of a second country apart from your native land, you would have the privilege to avail upgraded educational facilities in some of the most prestigious schools or universities of that particular country.

Privilege of Acquiring Political Rights

As a dual citizen, you can exercise your voting power. You can even contest in elections, particularly if the rules of that country where they have second citizenship permit you to do the same. With dual nationality, you even have the opportunity to donate to political candidates.

Right to Own Properties

When you are a citizen of two countries simultaneously, you can acquire property rights in both countries. That's a great advantage indeed. In many countries, ownership rights are confined to its citizens only. So, when you are a legal citizen of two countries, purchasing or owning a property becomes easy. It is of immense help if you have to travel to both countries quite often.

Cultural Enhancement

Besides the materialistic benefits, dual citizenship even means a cross-cultural association, celebrating, understanding, and getting exposure to the culture and traditions of your country of origin and the one where you have attained dual nationality. The advantage lies in the fact that you get to know the history of both countries and can also learn diverse languages. Dual citizenship is an effective tool for promoting tourism since it facilitates cultural exchange. That's why government officials of many countries are in its favor.

Benefits of Having Two Passports

Dual citizenship means two passports, saving you from the hassle of going through lengthy procedures while applying for visas. This holds good if you have to make frequent visits to the other country of which you have a second citizenship.

What are the Cons of Dual Citizenship?

Where there is a boon, there is a bane too. We discussed the advantages of dual citizenship. However, we cannot ignore the disadvantages. Let us look at some of them:

• Dual citizenship also puts you at the risk of double obligation. You would have to abide by the laws and regulations of both countries. For example, if you are a U.S. citizen and hold second citizenship of a country where, you must compulsorily serve in the military. In that case, you could lose your U.S. citizenship, especially if you have to fight a war against the United States.

The legal obligation to cater to military services abroad is recognized in the U.S. policy. Many even succeed in fulfilling military duties without jeopardizing their U.S. citizenship status.

• A second citizenship also means double taxation. You will be obliged to pay taxes against your income to the original country and even the country where you work. So, when you have dual citizenship, it's always advisable to contact a tax consultant and understand the tax laws of both countries where you have citizenship.

• True that you have work privileges in both countries where you have citizenship. However, there's a glitch where there are restrictions on employment opportunities. For instance, the U.S. government has some jobs under the classified category. So, when you have dual citizenship, you could be denied a security clearance for such employment.

• The process could be long and complicated and sometimes involve legal hassles, especially if the laws of two countries are different and contradicting.

Conclusion

Dual citizenship will prove advantageous when you research and follow all the rules and regulations. Besides attaining citizenship by birth or marriage, another way of applying for dual citizenship is through residence by investment. If you too wish to become a resident of a country that offers Golden Visa programs, CBI (citizenship by investment) consultants such as Global Residence Index would immensely help you make the correct choice.