Why UAE expats are seeking for second passport?
WHY UAE EXPATS ARE SEEKING FOR SECOND PASSPORT?
Over the past years, there has been an ever-growing demand for second citizenship among UAE including the majority of nationals from Syria, Yemen, Lebanon, Saudi Arabia, Bahrain, Kuwait, India, Pakistan and Philippines. Nationals of these countries usually have to go through stringent visa screening process and a second passport eliminates that and helps them freely around the world.
The UAE has one of the highest percentages of foreign-born residents in the world. It hosts more than 8 million expatriates which is an ideal hub for second citizenship and residency prospects for countries in Europe, America, Canada and The Caribbean – who attracts the wealthy investors and skilled immigrants through business and investment immigration programs offered to boost their economic growth.
The following are what drive the residents to pursue it and majority of the factors they’re considering to get second passport:
Nations such as Canada are known for having an outstanding educational system full of cultural diversity and cutting edge learning practices aimed at helping students thrive in today’s competitive market.
World Class Healthcare
Other factor involves access to world-class healthcare systems for themselves and their family members. This is especially important to those people who suffer from certain life-limiting health problems.
Investments, Finance and Banking
For some UAE investors, investing in a second passport allows them to benefit from more favorable tax and interest rates than those in the UAE. Also, investor can diversify their existing assets by choosing to obtain a second passport through property investment.
Stability, Safety and Security
Another driving force for some people is to escape the region’s political and economic instability. Mostly of the UAE’s immigrant population comes from politically unstable countries and wish to add a second citizenship as a lifeline to fall back on for themselves and their families.
Freedom to Travel
Some passports like those in European Union and Schengen Zone, offer freedom of movement for their citizens, allowing the possibility of living, working and starting a business in numerous countries across the continent. With so much freedom all from one passport, it’s clear why this is such an attractive proposition for some.
Obtaining a second passport in UAE is really an investment that has the potential for a high pay off for many expatriates, from business professionals and entrepreneurs to world travelers. Obtaining it is especially beneficial for those who hail from war-torn or unstable nations whose travel options on their birth passports can be extremely limited.
Many citizenship also offer the possibility of permanent citizenship for future generations, making the high cost of such an endeavor a worthwhile to make.
Citizenship by Investment Programs are growing in popularity by the day, and for those that can afford it, a second passport can offer security, stability and freedom.
Vazir Group offers you the most effective and profitable investment solutions that reflect your goals and objectives to the maximum. To know more about the programmes or how to apply and begin your application process, contact us on:
T: +971 (4) 243 8581
27th floor, The Oberoi Centre, Business Bay P.O Box 115091, Dubai, UAE