Why do I need another residence or citizenship?

A lot of our clients are looking to hedge their present lifestyles – which are threatened for various reasons – by gaining a second residence or citizenship.  These clients either want to move immediately or reserve the potential to move at very short notice.  Should the client not wish to move immediately then the new residency or citizenship would have to have relaxed criteria regarding the minimum stay requirements in that new country.

While the new programme might offer future security to the client regarding a ‘lifestyle hedge’, it also offers them peace of mind and freedom from persecution for being a citizen of the country that they originate from.  Not all countries are as internationally popular as others, for various reasons, and adopting a second identity can relieve of a lot of these burdens.

Many of our clients incur huge travel inconveniences when travelling abroad owing to the conditions set on them by virtue of the passport that they carry.  Visa applications are both costly and time consuming and generally an irritating nuisance.  Such clients are wanting to gain travel benefits through obtaining another residence or citizenship.

By gaining a second residence or citizenship a client is also able to enjoy huge tax breaks.  The extent of these benefits would depend on the new jurisdiction’s offering and incentives as well as where the client makes their primary tax residence.  The purposes of this planning could be both personal and corporate or both.

Some of our clients are also simply looking to improve their lifestyles and wanting better access to basic services such as health and education as well as more select criteria such sporting facilities, fauna and flora, etc.