Having dual citizenship can bring impressive benefits in terms of business and access to a variety of countries, so if having that is good, having multiple citizenships should be even better, right? So, can you acquire multiple citizenships through RCBI programs, and if so, how many?
Multiple Citizenships through Residence and Citizenship by Investment
In general, there are no limits on how many citizenships you can actually hold at the same time, however, specific circumstances can change this. In particular, some countries restrict their nationals from holding multiple citizenships, so where you are from, and what additional citizenship you already have, will dictate what dual or multiple citizenship options you can access.
Currently, you cannot have multiple or dual citizenship if you are currently a citizen of these countries:
- Vietnam
- The Netherlands – With Exceptions
- Thailand
- Singapore
- Saudi Arabia
- Panama
- Nepal
- Myanmar
- Malawi
- Laos
- Kuwait
- Japan
- Indonesia – With Exceptions
- Haiti
- China
- Bahamas
But for every other country, dual or multiple citizenship is fine, although there are some notable restrictions in place for some. For instance, the US requires that all citizens MUST use their US passport to enter and exit the US itself, although if you have other passports issued from a country you have citizenship with, you can use that elsewhere, only crossing US borders requires a US passport. It is not alone in this, with Canada, Turkey and Australia having similar rules.
Obtaining Multiple and Dual Citizenship
There are a number of routes to qualify for multiple citizenship, however the fastest and simplest route is to use citizenship by investment, as it presents a clear, easy to follow route to acquire the documentation and residential status you are looking for.
So, for most of us, there are no limits on how many citizenships we can have. Given the benefits of obtaining dual citizenship, the ability to live and work in multiple countries without restriction, visa free travel to more countries and so on, using RCBI programs to obtain several citizenships seems like the perfect opportunity.
However, there are some things to consider. Dual citizenship does have some inconveniences, and that can be multiplied with additional citizenship applications.
Is the citizenship by Investment program right for you?
Dual citizenship brings many benefits, but also can have challenges. Taxation is the one most commonly discussed, as there is a risk that some income will be taxed more than once. This can mostly be mitigated by appropriate financial planning, but can be a complex issue. Moving from dual to multiple citizenship, that tax issue becomes even more complex and will require careful organization of your finances to avoid paying a lot more than you expect.
There is also the issue of support. Some countries, France for instance, insist that anyone who holds citizenship must use their consulate when dealing with issues abroad. This applies even if you hold other citizenships. It can make travel more complicated, and is worth remembering when planning.
Finally, if you have political ambitions, many countries prevent anyone holding multiple or dual citizenship from standing for political office, so it is important to understand the consequences before applying for dual citizenship.
We are here to help
Residence and Citizenship by Investment is one of the best ways of obtaining a second citizenship or any number you would like. However, as we illustrated above, there are some things to consider when looking at obtaining citizenship in another country. As experts in RCBI we provide the support and guidance you need to make the most of citizenship opportunities, and make the right choices to achieve your desired goals.
If you are considering dual or multiple citizenships, get in touch with our experienced team today and let us help you on your citizenship journey.
