How, Where, and Why to Get a Second Passport

 How, Where, and Why to Get a Second Passport

Introduction: Clients from all around the globe contact our law firm with many questions regarding second citizenship and passports. In most cases, a large quantity of investable funds is required to participate in such schemes. You can get a five-year passport and residency with the Panama Instant Passport program, but it costs over $175,000 to put it in a Panamanian bank for five years. In exchange, you pay $750.00 in interest per month and get the passport and residency for five years. Although participants can opt not to renew the program after five years and receive a full refund, effectively eliminating the cost, not everyone can afford to do so.

Some others are worried that this program won't be around in five years. What happens if, after five years, the program's renewal costs more money? At the end of the five-year period, will I be required to submit a new passport in order to renew it, or will my Panama passport suffice? In five years, we will have no idea what the criteria are for renewal. As a result, we've had to come up with innovative ways to help people who wish to leave their home country and get a fresh set of documents—a new passport, driver's license, bank account, and Visa card—to begin anew. In essence, this is a fresh beginning.

Passport-Free Travel in South America: In the European Union, a person's nationality or permanent residency status determines which countries they can visit. Unless you're planning to fly or travel outside of the EU, you won't need a passport anymore. Without a passport, you might be able to fly several routes in the European Union. A little-known fact is that South America follows a similar pattern of operation.

There are a lot of reasons to go to South America. This property is priced very affordably. Most people can get health insurance, and the medical care is excellent and affordable. Medical facilities can be superior to your previous experiences. House calls are made by doctors. Dental care is within most people's budgets. Organic, low-priced food is essentially unadulterated. Most vehicles have similar prices. There are stable governments, some more so than others, but you won't often see people living in vehicles or on the streets. Monthly costs for a live-in maid range from $120 to $250. A full-time driver can expect to make $150 to $325 per month. There is less crime here than in Europe or North America. In certain countries, owning a gun is incredibly simple. With the exception of certain medications, such as those used for severe pain or sleep, most prescriptions do not require a doctor's prescription. Foreign investment is often not subject to taxation in the countries we work with. Some of them have a banking secrecy clause. In your new nation, you will have a great deal of freedom and almost no tax liability. Businesses are now considered criminal in some nations, and governments there are more likely to crack down on serious offenses. In general, South American countries do not get along with many of the countries that have high taxes and invade people's privacy. One South American institution, Bank Sur, also known as the Bank of the South, is already in the process of launching. The truth is that it's open already. For a new beginning, South America is the best destination. With it, you get all you need, plus more. Ease and improvement in your life are likely outcomes.

Distinctions between South America and the European Union - Perhaps you're asking why you shouldn't just apply for permanent residency in the European Union. The European Union will house the majority, if not all, of the client's ill-gotten gains. There is a serious invasion of personal space. Corporate and bank secrecy is often a thing of the past. Even if several European countries have social services available, high-income earners would find this kind of taxation to be quite painful. Taxes have hit the 80% threshold in some of these countries. You should expect to pay high rates of tax on your offshore income. Anticipate extremely onerous documentation demands. In addition to other taxes, you should budget for a high value-added tax rate—perhaps 25%. The cost of real estate will be four times greater than in South America, and possibly much more in some instances. Since any EU member state can collect actions relating to occurrences in another, lawyers have a lot of leeway to operate freely inside the bloc. Disregard EU asset protection. In most cases, the cost of living will be greater than in your home country. Conditions are ideal for winter sports like ice skating and snow skiing, however they are rarely tropical or even semitropical. A large amount of criminal activity is taking place. Obviously, not every nation deals with all of these issues simultaneously.

The Andes Community of Nations is a South American trading group that includes Ecuador, Bolivia, Peru, and Columbia. It is possible to travel freely between these countries with a resident ID card from any of them, and this advantage is extended to all Mercosur countries, including associate members, as well. (Venezuela, Paraguay, Uruguay, Brazil, and Chile).

Citizens of member states of the South American economic bloc Mercosur are exempt from passport requirements for traveling between member states. The member states of Mercosur are Venezuela, Paraguay, Brazil, Argentina, and Uruguay.

Argentine, Brazilian, Chilean, Paraguayan, Uruguayan, Venezuelan, Bolivian, Colombian, Peruvian, and Ecuadorian passport-free travel is possible.

Benefits of Residency-A residency ID card can be obtained in as little as 30 days from some of these nations. Typically, a temporary card is given out, and after around six months, it becomes a permanent one. In order to travel internationally with a temporary residency card, a letter verifying the application for a permanent card is typically needed. You can get this easily. With the exception of the Panama Instant Passport Program, which takes 60 days, getting a passport is usually a lengthy process. Unlike the Panama Instant Passport Program, which gives you your passport in as little as six months, most economic citizenship programs demand investments of more than $350,000, and you don't get your money back in the end.

In most cases, you will need to spend at least 30 days in the country before you can apply for permanent residency. Keep in mind that this could differ from nation to country. In most cases, getting your permanent residency card will require you to come back a few weeks later. Prior to obtaining your passport, you should budget for multiple weeks of stay in the country. In the distant future, perhaps, two or five years from now.

What is required to get a passport? This could differ from one nation to another. In some nations, the minimum duration for permanent residency is three or five years, whereas in this case it is two years. Don't forget that the Panama Passport can be yours in just sixty days and is valid for five years. After that, you'll be OK to go for five years using your current passport until the South American nation issues their own passport to you.

How Long Can You Stay in the Other Participating Countries? You'd have months—if not years—to do so. Simply showing your ID card would grant you access to come and go as you like. You are free to reside in any of the other nations on the list; but, resolving the issue of employment would necessitate consulting local legal advice in each country in question due to the potential complexity of the issues at hand.

Opening a bank account in the nation without being asked to produce your former country passport would not be difficult at all once you have your permanent residency card, which takes about six months to obtain. A passport from some other country will be required by the bank when the residency is temporary. You shouldn't have to bring your passport to the bank to open an account once you have your permanent residence card; the bank should be able to verify your identity without seeing your passport. A valid driver's license, which can usually be obtained in the country by simply displaying your current one, is helpful. Even if you only have proof of residency, you should still be ready to create a bank account with a local phone number and address.

To a large extent, you shouldn't take any outstanding civil debts with you when you move to a new nation. We consistently advise our clients to open bank accounts in Panama via a Panama Private Interest Foundation or a Panama Corporation that uses anonymous bearer shares. The Panama Foundation's safeguards for assets are second to none. Panama has first-rate banking services, unlike the nation that would likely grant you residency. No nation has a deal with Panama to collect taxes or settle civil judgments. The best course of action, should you decide to make Panama your permanent home, is to open a bank account there and send money to your new place of residence many times a year. No matter where you decide to settle down, it's quite improbable that any court decisions, lawsuits, or other civil judgments will follow you. You are banking with an anonymous foundation in Panama, therefore the creditor has no way of knowing your whereabouts, right? Civil procedures that span international borders are not tolerated by these nations.

Where Are You Based? Depending on the client's requirements, we can work with any of the 10 nations listed. Customers often express a desire for a low-cost, secure nation that provides excellent cuisine, weather, and healthcare. A city with plenty of nightlife is more appealing to some. Beaches are sought for by some. Some people would rather go snow skiing. Get in touch with us and let us know what you require; that is our purpose.

Our favorite is Uruguay. To gain this residence for cross-border travel, it is the easiest and most direct option. The residency requirements can be met in a number of simple ways. Establishing a company in a duty-free trade zone allows you to work for yourself. This is not retirement income, but any income, such as income from a rental property, investments, self-employment, etc., that you can prove with bank statements. Buying or renting a home is an option. The bank accepts deposits up to $500.00. Several possibilities are available, and qualifying is easy.

In general, a letter of police clearance is required. A comprehensive physical examination is required in Uruguay. Your marriage license, birth certificate, and passport will be required documents. All spouses and minor children must provide birth certificates. In order to enter Uruguay, you must first be able to secure a visa.

Changes of Name—We stay out of changes of names. This is how you get people to notice you if you genuinely desire that. There is no greater warning flag than this. Name changes are something that many governments and entities across the globe do. You should apply for a name change once you have your permanent residency for a while, rather than as a fresh candidate. However, please be aware that we do not handle name changes, so you will either need to do it on your own or hire a local attorney to help you.

The presence or absence of a criminal record does not necessarily disqualify an applicant. Time of offense, severity of punishment, nature of offense, and country are some of the factors that would determine this. Crimes of aggression, sexual offenses involving force or minors, terrorism, drug convictions, money laundering, weapons trafficking, and sentences of more than one year in prison would all make it difficult to get accepted. If you would like to talk about this with us, that's OK. There is no way to tell what will happen until the immigration officials receive the full application and make a decision. We need to wait till they see the entire application before we ask for their opinion. The application may be rejected due to a criminal record.

I can confirm that you will be making a personal appearance in the immigration office. You will be photographed and fingerprinted. Interpol will be consulted. No need to worry about translation because you will be accompanied by a local attorney who is fluent in both English and Spanish. You and the local attorney will be able to pick up your residency ID card at the immigration offices. In the immigration office, you are to pose for a photograph. All of these programs are legitimate and administered by the country's immigration authority. A massive government building in the nation will serve as the site for the entire event.

Please do not participate in this program if you are currently facing extradition proceedings, are wanted by the authorities, are free on bond or bail, or have a prior conviction but are attempting to evade sentencing. In no way, shape, or form are we able to assist you. The police records check would come out negative, and Interpol would put you on notice. You can end up being handed over to the authorities of the nation where the crime was committed. Since your application is still pending approval, you would only be considered a tourist in the nation where you applied. At this point, you would not be eligible for any preferential treatment. Providing safe haven to sought or fleeing criminals is something no UN member country wishes to do. A tidal wave of transnational crime would ensue if just one nation did it. Nothing like this occurs.

A person's eligibility for extradition protections depends on whether they are a citizen or permanent resident, and if they were in possession of that status prior to the commission of the crime. The same is true for drugs; instances involving drugs may be extraditable if certain conditions are met. When a government refuses to extradite a criminal, it often suggests that the accused face prosecution within its own legal system. Because the opposing countries will need to gather witnesses and evidence, as well as lawyers to prepare for and attend the trial, this usually turns out to be a farce. The courts or jurors may still be hesitant to find someone guilty, even in that case. Whatever the case may be, extradition demands are grounded in international accords known as Mutual Legal Assistance accords. To get a feel for the various factors at play, it's best to read the respective treaties that the two nations in issue have ratified. Then there's the media attention, the gravity of the crime, and other factors that can sometimes influence the outcome. A dual criminality provision is present in a few of these accords. This usually implies that the crime in issue needs to be illegal in both nations. Since the individual would not face such persecution in their home country, this shields them from prosecution for acts of political, religious, or racial discrimination. Keep in mind that extradition is usually possible if the crime happened before the residency or citizenship was granted, although this is not always the case. Extradition is not our forte and we don't accept such instances.

Price - This will differ from one nation to another. Uruguay will cost you $14,000. Additional costs (often less than $500) would apply for things like document and photo certification, transportation, lodging, and filing fees. In most cases, these additional expenses do not need serious thought.

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