Dual citizenship allows people to travel to different destinations without any limitations and possible problems, which is extremely helpful for athletes as there are various tournaments being held across the globe.
Of course, this is just one of the perks, but a pretty important one, but many people are still unaware of how to apply for citizenship in some other country. That is mostly because they don’t know or do not fully understand how certain citizenship programs work, which is why we will focus more on that today.
What is citizenship by investment?
Even though this term is not that new, many people still struggle to understand the full meaning of it. Namely, many believe that in order to get dual citizenship, you need to meet certain conditions like spending a certain amount of time in that country, having been born there, having at least one parent born and living there for a while, etc.
Even though this is true, many countries have various other programs one can apply for even when they don’t meet the criteria mentioned above. One of those programs is citizenship by investment, and of the biggest perks of it is that the entire process of obtaining citizenship in a country of your choosing is much faster and easier.
As for how to be eligible for this program, there are some genuine rules that are pretty easy to follow. Of course, many countries have some specific rules and guidelines you need to follow besides the generic ones, and, in most cases, it’s the financial aspect. Namely, in order to apply for citizenship by investment program, you need to invest a certain amount of money in the country of your choosing, and once you do so, you become eligible for this program.
Yes, it’s that simple, but there are certain protocols you need to follow, and the most important one is checking the amount of money you need to invest. Sport-wise, athletes can also apply for a program even without investing because if they want to represent that country and have a place in the national team, they will be granted a passport.
Benefits of dual citizenship
When talking about sports, we cannot overlook the fact that many athletes do not represent the country in which they have lived for most of their life. This is nothing new or strange, but this trend has been growing in the past couple of years, and things get even more active as the Olympics come close to beginning.
Besides the financial point, the reasons for that are mostly about being competitive or having a much better environment and facilities to practice. Now, every sport has different rules regarding which country one player can play, and while in football, if a player plays more than one game for the senior national team, they cannot play for any other country.
On the other hand, we have basketball, where rules are much different, and players can switch and play for other countries. This is typical for some European countries like Spain and Turkey, where they seek any possible connection between the player they want and their origin so that they can represent it as a homegrown player, which is, in most cases, well, let’s say funny. Overall, according to Olympic Charter rule 41, players with dual citizenship can choose which country they want to represent without facing any consequences.
Is it worth it?
The benefits of owning another passport are numerous, and there are literally no downsides to applying for this program. People with dual citizenship can travel around the world much easier because they can decide which passport they should use, depending on the Visa regime, and avoid unnecessary waiting.
Besides that, the healthcare system can be better in one country than another, and by becoming a dual-citizens, they can decide where they want to get their treatment, depending on where they can get more benefits. These are some of the biggest perks of dual citizenship that apply to any person, but sport-wise, there are even more benefits, which is why this program is changing and shaping the sport on a global level.
The great thing about investing in real estate is that you actually own the property that you can live, rent, or even sell if you want to buy something else, so this investment is considered a great one, especially in the long run.
It also gives people a great opportunity for business development, as they have much more options than they would have without a second passport. In the end, the taxes are much lower, so there is no need to worry about some extra costs that sometimes can be hidden, which athletes are familiar with as they have even better privileges.
How to apply?
The best thing modern technology has brought to us is that we do not need to visit the country in which we want to get a second citizenship, as the application form can be filled out online. It makes the entire process much faster, and the best thing is that the applicant does not need to worry about spending a lot of money on that visit.
We all know how expensive these trips can be, especially because we need to find a place to stay while dealing with the paperwork, and it can be pretty challenging for people who are traveling for the first time.
Of course, when talking about sports, these rules don’t apply as there are agents who will handle all the work, so once athletes get to some country, they will already get a passport, or at least their application will be underway. With online applications, there is no need to worry about that, as most of the tasks can be finished from the comfort of your home.
The bottom line
Although applying for another citizenship is not complicated, and everyone can do it from the comfort of their home, we need to mention that it is probably much easier if you have help. Namely, it is necessary to check eligibility, gather the necessary documents, and fill out the application form properly, which can be pretty challenging for people who do not love to deal with paperwork.
Besides that, one can have a lot of questions about the process, and searching for the answers online can be pretty time-consuming, and sometimes they will not get the right information. If you want to avoid that, learn everything you want to know about this process, and get help with applying, visit https://imperiallegal.com/citizenship-by-investment.