What are the benefits of having a second passport?

In today’s world, having a second nationality or a second passport is not a remote possibility. There are various alternatives for obtaining one, and we will review them below.

But first, one might ask: Why would someone want to have more than one passport?

The answers are several, ranging from having fewer travel restrictions to potential tax or social benefits.

Let’s look at some of these aspects:

Freedom of movement: Having a second passport provides you with travel access to multiple countries. For example: the Portuguese passport allows entry without a visa to 188 countries, including the 27 European Union nations and the United States. The Spanish passport, on the other hand, allows visa-free or visa-on-arrival access to 194 destinations worldwide, including Mainland China.

As a Plan B: If things change, if the country risk increases, or even if you don’t plan to move to a new country at this stage of your life, having a second passport guarantees you a place to start anew. Whether it’s to go work temporarily, to move with your family, or to retire in a country with a more pleasant climate, a second nationality is key.

Save costs and time on visas: Not all countries require visas for the same places. In the case of Chile, we have the Visa Waiver with the United States; in the case of Spain, the possibility of traveling visa-free to Mainland China, or, like Portugal, freely traveling through the Schengen Area countries.

Tax benefits: Second citizenship alone may not necessarily help you avoid taxes, but it will give you options. The laws of some countries offer tax breaks or exemptions to individuals, for example, on income generated in other countries. Or to individuals who, having a visa, do not reside full-time in that territory.

How can we help you obtain a second passport?

At AIM Global, we have several products that can serve as a pathway to a second nationality, and we can advise you from start to finish.

Golden Visa: grants residence through investment, and with it, an unconventional pathway to citizenship. The European countries with the most popular programs among Latin Americans are Portugal, Spain, Malta, Greece, and Cyprus. These have different requirements and costs, so you should inform yourself properly before applying.

In the case of Spain and Chileans, the beginning of the journey can be a residence visa, such as a Digital Nomad visa, or a Non-Lucrative visa. This is because Latin Americans can apply for Spanish nationality after 2 years of legal residence in the country.

Another option for Spain is the Law of Grandchildren. This is a limited-time law that allows children, grandchildren, and great-grandchildren of Spaniards to naturalize, as long as they are of legal age. You can read more about it here.
Portugal, on the other hand, has the Sephardic Law. If your ancestors were Sephardic Jews and you have a provable connection to Portugal, you can naturalize under this law. It requires a genealogical research process that can start from Chile. Check more about the topic here.

If any of these options seem suitable for you and your family, let’s talk! The AIM Global team has the necessary experience to achieve the result you expect.

Our task is to help you make your international mobility projects a reality.

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