Citizenship by Investment - What Second Citizenship Gives
Even if you are not going to move permanently to another country and renounce Russian citizenship, a residence permit, permanent residence or an additional passport opens up new opportunities. And above all, freedom. The freedom to choose where and according to what laws to live, where to do business and which state to pay taxes.
Citizenship by Investment
New homeland as an alternate airfield
Many bipatrides do not plan to leave Russia in the near future. Moreover, holders of dual citizenship often own a business or work in their first homeland. At the same time, they understand that serious changes can take place in the country.
This is not about war or revolution, physical danger to life. With a relatively small supply of funds, a person can obtain refugee status in a neighboring country. Refuge is not the most pleasant and easy way, but it is available to all residents of the state or region in which there is a war.
Alas, a repetition of the 90s, a deep economic crisis, a return to the practice of the USSR with an "iron curtain" and a ban on entrepreneurial activity, rampant crime and, even worse, all-consuming corruption and a threat from the authorities, look much more realistic. In this case, the only way out is immigration. Moving to another country in such circumstances is extremely difficult if you do not already have a residence permit or a second passport.
With a second citizenship, you can immigrate in just a few days. You do not have to look for ways to legalize or be in an illegal position. All you need to do is sell your property, pack your belongings and get on the plane. If you already have a working business, real estate and acquaintances in another country, you just have to buy air tickets.
Citizenship by Investment - Open Borders
Having a Russian and foreign passport, without a visa (or with a visa at the airport), you can choose one of more than a hundred countries. The length of stay varies from three (Bolivia) to 360 (Georgia) days. These are the countries of Africa, Latin America, Asia, a couple of European states (for example, Montenegro and Serbia), the countries of the former Soviet Union (Georgia, Ukraine, Belarus, Uzbekistan, etc.) and the Arab world, even unrecognized republics (Abkhazia).
Alas, in order to come to Europe - to look at Paris, to visit Berlin or London, to travel around the USA or Australia, you will have to obtain a visa. This is a relatively long and complicated process. A visa may be refused without explanation, and you will need to plan any trip at least 3 months in advance.
Having received a passport of a European country, you will be able to travel not only throughout Europe: doors will open in front of you in almost any country. You can move around the countries that are part of the Schengen area without any restrictions. Two more routes and opportunities are open to Europeans. With very few exceptions (for example, the DPRK), he does not have to wait for a visa to hit the road.
Financial security of the second citizenship
Storing capital in one country is risky. And not only because of the unstable economy and not very reliable banking system, but also because of the changing policy of the state. Everyone remembers the "burned out" savings of former Soviet citizens, collapsed banks, inflation and default.
It is no longer possible to simply open an account and keep money in a foreign bank - due to currency regulation. For some time now, information about foreign accounts must be provided to the tax office, and the money itself must be "clean": you must collect documents and prove to the tax authorities that you received them honestly and paid all taxes. And this is not always possible.
Having received passport other country, you can open a bank account for it. You will not have to report to the Russian tax authorities, nor will you need currency control. Nobody will know about your account: Russia cannot receive such information about citizens of another country. Another thing is information about accounts opened for Russian passports.
Having received the citizenship of another country, you will not be limited to the banks of one state: you can open an account with a new passport almost anywhere in the world.
Second Citizenship - Tax "relief"
Not all countries have a tax burden comparable to or greater than the Russian one. There are also free economic zones - offshore, where you can not pay taxes. A company registered in such a zone will be able to bring in 10-40% more than, for example, in Russia.
In some countries, the opportunity to open a company without a tax burden is available only to citizens. If you have a passport, you can save money and start a profitable business.
Second Citizenship - Protection of childhood, old age, dignity ...
Low pensions, scanty benefits, terrible medicine, the risk of being targeted by the authorities, and finally, the ever deteriorating educational system - all this applies to any Russian citizen. No matter how much money you have at the moment, you run the risk of finding yourself without a livelihood, without good medical care, without a normal home by the end of your life. You can take care of yourself and your family only if you get the status of a citizen in a developed country where laws work in advance, you can save up for a decent old age in 20-30 years, and children and old people will be safe. If your first homeland is among the developed countries, it will be great. But what if this doesn't happen?
Second Citizenship - this is an opportunity to defend yourself, preserve your capital, your health, dignity and life.