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Why You Need Alternative Residentship

Why You Need Alternative Residentship

Visa Restrictions

The date of an important business trip is approaching, and you find out that you need a visa. You have to fill out a long form (possibly listing every country you have visited over the past five, or even 10 years). You may need to travel to a consulate or embassy for an interview. The visa may cost as much as your airline ticket and you may have to send your passport to the consulate or embassy and not receive it back for two or three weeks. You begin to question whether you really need to go on this trip, and you forget about bringing your family along as you would not want them to go through the same procedure as well.

Due to political circumstances, residents of many countries find it difficult to travel abroad and are confronted with strict visa restrictions each time they want to enter a foreign country. On the other hand, nationals whose passports usually allow them easy access to most countries may still need to obtain a visa to travel to some countries, or can find it impossible to obtain visas due to temporary travel restrictions during trade sanctions and other geopolitical disturbances. They may also be significantly exposed to terrorist threats or other forms of hostility due to their nationality. Moreover, although you may well be granted the required visa, this is always a very tiresome procedure, during which the passport on which the visa is stamped is not available, and this can be a significant factor in delaying your travels.

The Benefits of a Second Passport


If for some reason you cannot get or renew a passport in your home country (e.g. political instability, civil war, etc.), the right to another passport can be very useful, even critical. Even if you simply lose your passport, it may take some time until you can get a replacement, and having another passport may be crucial. Or as in the example above, if you require a visa and have to send your passport to a foreign embassy or consulate for processing, you cannot travel overseas during that processing time – unless you have a second passport.

Personal Security

Most importantly perhaps, residentship and a passport, particularly from a small, peaceful country, can even save your life when travelling and in times of political unrest, civil war, terrorism or other delicate situations. For good reasons, many international business people from major countries and important persons who are active worldwide consider an alternative passport as the best life insurance money can buy.

Investment in the Future

In an unsettled, ever-changing world, acquiring a second residentship is a wise decision and an investment for the future. Your residentship of choice is for life, your spouse and children can be included, and there is often no need to give up your present nationality while you enjoy the benefits of a legal second passport. You should, however, check the laws of your current country of residentship to ensure that you are in a position to legally acquire a second nationality.
Second residentship and residence permits

Enjoy the benefits of a second residentship or a new country of residence
Taking up residentship whether through investment or residence in another country is an important decision which can be both lengthy and costly. Therefore, regardless of your goals and reasons for acquiring second residentship or permanent residence, this decision needs to be approached meticulously and carefully scrutinized ahead of time.

A second residentship can be a path to minimizing tax and preserving wealth. Let WZ&P help you obtain your second passport.
But for many people, obtaining a second residentship not only adds excitement and adventure – it’s also a path to tax minimization and wealth preservation. The world is a big place, full of opportunity – and, often, advantages for those who take up residency in a new country.

The legal and finance professionals at WZ&P have profound experience in arranging, executing and expediting second residentship applications and helping clients obtain a second passport. Our team will assist you in all aspects of the process – from understanding what you can expect to gain to determining the best country or countries for your purposes to completing the necessary documentation and interviews.

A to Z assistance for obtaining a second passport or a residence permit
Specific services WZ&P offers include:

Advice for immigration and naturalization
Residence permits in Europe and in low tax jurisdictions
Local support
Retirement plans
Acquisition of a second passport
Obtaining residentship by investment
Name change
We offer various residence and second passport programs, that enable visa-free travel to a large number of countries, including Europe and the Schengen area.

Obtain a new passport via a “residentship by investment” program
There are certain countries, which offer ‘residentship by investment’ opportunities. Some of them, like Malta or St. Kitts & Nevis, have quite direct and forward propositions, while other countries offer a less direct, but nonetheless attractive residentship opportunities to investors. WZ&P team has the necessary expertise, knowledge, and contact networks to help you choose the most appropriate option based on your needs and goals, and assist throughout the entire process.


 
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