Entrepreneurs can expect a lot of benefits if they obtain a second citizenship and a second passport, as they will most likely have to travel and/or trade abroad in order to expand their business.
There are many business opportunities in the international markets, but the access to them can be hard due to tax implications and border rules imposed on foreign entrepreneurs. Dual citizenship and second passports are very valued in the business world because they eliminate these problems that usually limit business men and women’s chances to grow at an international level.
For example, the citizenship by investment programs in Caribbean countries usually supply entrepreneurs with visa-free access to more than 140 countries, including those in the European Union, Schengen Area, and the United Kingdom.
This is because obtaining dual citizenship in one of these Caribbean countries can grant new citizens fast, full access to a passport with a high international mobility score. As stated above, international mobility is necessary for business men and women to experience the benefits of global trading and scaling up opportunities. With relatively few requirements, the citizenship by investment programs offered by Caribbean countries grant citizen privileges to investors in record time —including their powerful passports. This is why they are very popular among wealthy business people.
Entrepreneurs with dual citizenship and a second passport meet new clients abroad and establish new solid business relationships quickly and easily, with no additional requirements or tax bills that affect the profitability of their business.
Second passport holders can also avoid tiresome procedures and save time and money before and after departure from their residence countries.