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SECOND PASSPORTS

Guide to Second Passports

A second passport can offer useful insurance against political, economic, or fiscal change 'at home'. A new nationality may make international travel easier, open up new opportunities for tax planning, or allow the holder to avoid discrimination.

The last two decades have seen worrying totalitarian moves by western governments.  Increasingly they are revoking the passports of citizens involved in civil disputes with the government.  This effectively prevents international travel - unless the individual has an 'insurance policy' in the form of the passport of another country.

There are many nationals who have to endure difficulty and lengthy waiting periods for the obtainment of visas for travel to a number of western countries. This may be because they are a national of a developing country or there may be animosity between their country and another. Also many US (and certain other) nationals are greatly concerned that, by traveling on their current passports, they risk hostile treatment from government officials, kidnappers and hostage takers. By obtaining a second nationality, these risks can be reduced.

Even if they never set foot in the USA, the citizens of the US are to tax on their world-wide income. They are denied the residence-linked tax planning opportunities that are available to almost everyone else. Such people can often gain vast fiscal advantages by acquiring a new citizenship and renouncing their American citizenship (if they should ever wish to reclaim their US citizenship, that would not be a problem).

It is generally possible to obtain naturalization in a suitable country in two to three months. The nationalities will depend on the particular circumstances. In general, a target country should offer:

We find that the most useful nationality that can be acquired legally and quickly and that allows for visa free travel is that of Ireland, however it is very expensive and the investment may incur some risk. Austria sometimes grants nationality to those who have benefited the country by suitable investment, but the process is not that quick (it takes a year or two), and there is no guarantee of success before the 'socially / nationally beneficial' investment is made. Nationality of Caribbean and Central/South American countries is also recommended but over the years there have been a number of scandals involving passport fraud. These days it may take as long as six months to confirm the legal basis of any program.

Our Approach

Happy World has been established for almost a decade. We operate from our London offices (now also from New York City, USA and Montreal, Canada) and take a long-term view of our business. Our first concern when dealing with second passport programs is their legality. We have the following guiding principals:

  1. Total Legality - A second passport should be reassuring, not a source of worry. At Happy World we offer only programs that are 100% legal. We are always happy to provide clients with details of the laws under which they are granted their second passport. With the exception of Uruguay, all the passports offered by Happy World are obtained on the basis of naturalization. Naturally, as citizens, clients can renew their passports when they expire or obtain replacements in the event of loss/misplacement. Unbiased Advice
  2. Unbiased Advice - As we offer every legal program in the world, and are able to assess their merits objectively. We make certain that you understand any and all disadvantages and costs associated with a program before you go ahead.
  3. Privacy Protection - When fiscal planning is involved, the circumstances of a second passport application are invariably sensitive. Happy World is committed to helping clients maintain their privacy. In general we avoid discussing a case over the telephone. We are happy to provide an initial face-to-face consultation and, where it is not possible to meet in person, we are equipped with high level encryption programs that allow the secure transfer of data and documents.

Review of Countries, offering Second Passports
Irish Citizenship
Timescale 2 to 3 Months
Advantages
  1. Excellent visa free travel
  2. Right to reside anywhere in the European Union.
  3. Little international hostility to the country or its citizens
  4. The Investment does not have to be made until citizenship has been granted
  5. For writers, musicians, and artists, Ireland is a Tax Haven.
  6. Ireland does not tax non-resident citizens.
Disadvantages
  1. £1 Million investment requirement.
  2. Restrictions on where the investment may go.
  3. Finding a suitable and viable investment may take time.
  4. If you are not a writer, a musician, or an artist, Ireland is a high tax jurisdiction in which to live.
  5. The option of investing for 7 years in Irish Corporate Bonds involves accepting DIBOR minus 2% while the commercial price of the risk is at least 3% over DIBOR: Equivalent to an annual cost of £50,000
Requirements
  1. Investment of at least £1 million that will create or safeguard 10 jobs in Ireland.
    • The Investment should be an unsecured 'risk investment'.
    • The Investment must remain in place for at least 5 years.
  2. An undertaking to spend a minimum of 60 days in Ireland during the two years following the granting of citizenship
Property Requirement The purchase of at suitable home (generally costing £100,000+)
Our Assessment An Irish Passport is one of the best travel documents in the world, and as Ireland is the only EU country to offer such rapid naturalization, this program is usually the first choice for those that can afford it.
Our Costs Our total charges for this service are US$1500. If you qualify by covering the above criteria, we will ask you to pay a deposit of US$500 and the rest US$1000 is payable when you passport is ready for collection.
Apply for Irish Citizenship


Commonwealth of Dominica
Timescale 1 Month
Advantages Quite Good Visa-Free travel.
Very fast and uncomplicated program
Disadvantages Usually there is a need to visit the country for a few days to be interviewed by the Minister of Legal affairs or his representative (neither the trip nor the interview are necessarily disagreeable, so this is not much of a disadvantage if you have some time to spare).
We have recently negotiated with the Government to enable some applications to be completed without visit requirement, and no attendance at an Embassy or Consulate of Dominica. The additional Government fees for this service is US$3,000.
Requirements There are two options:
  1. Make a $50,000 direct contribution to the Government
  2. Invest $75,000 in Government bonds for 15 years.
Note: From time to time, there may be alternatives to the investment requirements mentioned here. Please contact us for latest details.
Registration Fee With option 1: $560 for each family member ( to currency fluctuation)
With option 2: $15,000 for each adult and $10,000 for each child
Our Assessment This is undoubtedly one of the fastest programs.
Our Costs Our total charges for this service are US$1500. If you qualify by covering the above criteria, we will ask you to pay a deposit of US$500 and the rest US$1000 is payable when you passport is ready for collection.
Apply for Commonwealth of Dominica Passport


Grenada
Timescale 6 to 8 weeks
Advantages Grenada is a tax haven and member of the British Commonwealth
There is commercial freedom in the choice of investment
The investment does not need to be made, or even identified, before citizenship is granted:  New citizens have 3 years to make their investment - and even this 3 year time limit can sometimes be extended where serious efforts to find a suitable investment require more time.
Disadvantages
  1. 'Honorary' rather than normal (full) citizenship is granted
  2. Poor visa free travel.
  3. High government fees
  4. High level of investment required.
Requirements Investment - a business investment of at least $200,000 must be made. However, new 'Honorary'citizens have at least three years in which to make the investment.

Applicants are granted 'Honorary' citizenship after paying registration fees as outlined below:

  • Single Applicant - $40,000
  • Husband and Wife - $60,000
  • Children under 18 years old - $13,000 each
  • Children over 18 years old - $20,000 each

It is possible to obtain 'Honorary' citizenship without undertaking to invest $200,000, but the relevant government fees are much higher:

  • Single Applicant - $135,000
  • Husband and Wife - $200,000
  • Children under 18 years old - $40,000 each
  • Children over 18 years old - $65,000 each
Our Assessment This program was quite good value in the past. It is now generally too expensive.
For those already planning to invest $200,000+ in Grenada, the additional fees are not excessive if the applicant does not have children. However, the 'Honorary' nature of the citizenship may be a cause of anxiety, and may cause problems with some visa officers.
Our Costs Our total charges for this service are US$1500. If you qualify by covering the above criteria, we will ask you to pay a deposit of US$500 and the rest US$1000 is payable when you passport is ready for collection.
Apply for Grenada Passport


Belize
Timescale About 1 Month
Advantages Speed
Disadvantages
  1. Poor visa-free travel
  2. Expense
  3. There have been a number of well-reported scandals involving the fraudulent issuing of large numbers of Belize passports. As a result, those carrying the passport are often at a disadvantage.
  4. In the event of an application being turned down, the government retains $5,000, plus $500 for the spouse and every child under 18, and $3,000 for every child over 18 years. (Note - This may change from time to time, please contact us for the latest details)
Requirements A donation to Belize of $25,000.
Registration fees of:
$15,000 for a single person.
$25,000 for the head of household (includes spouse and any children under 18) and a further $15,000 for each child over 18 years old.
Our Assessment The program is overpriced.
The problems created by past scandals should be considered very carefully before choosing this option.
Our Costs Our total charges for this service are US$1500. If you qualify by covering the above criteria, we will ask you to pay a deposit of US$500 and the rest US$1000 is payable when you passport is ready for collection.
Apply for Belize Passport


St. Kitts & Nevis
Timescale 2 to 3 Months
Advantages There are no personal income taxes, and no corporate taxes on overseas assets/earnings. The Islands are part of the British Commonwealth.
Disadvantages Poor visa free travel. The program is very expensive for a couple of Islands that few people have ever heard of.
Requirements Either:
An investment of $250,000 or
A 10 Year loan to the government of $200,000

Registration Fee:
Applicant: $35,000
Dependents: $10,000 each

Our Assessment This program is too expensive.
In general most of our clients choose to acquire a new nationality for the purposes of visa free travel, and not to actually live there. For those who do wish to become resident in a Country that has just granted them citizenship, and who prefer St. Kitts to Grenada, the tax advantages may justify the cost, but even they should consider very carefully whether there are more cost-effective solutions which can be used for the purposes of tax mitigation.
Our Costs Our total charges for this service are US$1500. If you qualify by covering the above criteria, we will ask you to pay a deposit of US$500 and the rest US$1000 is payable when you passport is ready for collection.
Apply for St. Kitts & Nevis Passport


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