Sunday, July 5, 2009

Business Immigration Holds Good For A Second Citizenship.

By Tracey Gordon

You can now enjoy a dual citizenship or own a second passport via business migration, since several countries are looking to improve their economic conditions by global economic reforms.

Holding a second passport or a dual citizenship means that you are now a legal citizen of two countries, and abide by their laws as well. It is now easy to gain access to a second passport since the governments of various countries are now opening their doors to wealthy investors who are willing on business immigration. When looking to invest after immigration to a country you will also need to open up the doors to local employment as this could mean a growth in the countrys economy. Investment immigration helps attract several business immigrations to a country for any legal business or commercial activity.

You can enjoy the legal benefits and privileges of both the counties if you are looking at business immigration, e.g. owning property, free enterprise and most importantly tax benefits. Your second passport or dual citizenship is easily available if youre investing a sizable capital as an investment in the adopted country. Business immigration benefits those who mostly come for politically unstable countries mainly because of their changing economic policies.

Business immigration also acts as a stimulation package for the economy of the country that you are an immigrant to. This is so, since new business means employment opportunities for its locals as well as investment capital that spruce up the economy.

There are certain requisites to be met to be an immigration investor, some important ones are;

a) As stated in the countries law a certain capital amount needs to be invested.

b) Specific number of jobs to be created for the local market.

c) You will have to establish a commercial enterprise or buy an existing business.

Lets look at some of the reasons to obtain dual citizenship or application for a second passport, especially when its for business investments.

i) You are not free to invest your money.

ii) You are restricted to invest in foreign markets or offshore mutual funds freely.

iii) You have heavy taxes imposed on you and your assets could be a target of litigation.

iv) You are restricted to buy or purchase land for business or work purposes.

v) Difficulty in adapting to the changing business norms due to political instability.

Your second passport or dual citizenship can be got with business migration is also a way of improving your secrecy in banking or can be termed as an insurance policy which will help you enjoy the benefits of the laws of both the countries, as it is now easy to move about as well if you have been in a restricted political scenario.

Many countries appreciate wealthy investments and are relaxed in their immigration laws towards them. There is a specific amount to be invested, and the areas could be; Unit Trusts or Investing in private companies or owning them.

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