Dual Citizenship Defined - What's it All Mean?

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Protecting and growing your wealth are of paramount importance in today's world.  However, quite an amazing number of things can conspire against you.  The government is increasingly interested in seizing your physical and liquid assets for no good reason.  You also have possible legal problems with which to contend.  What happens if you're the victim of a frivolous lawsuit? 

You've seen the news coverage of people suing (and winning!) over the most ridiculous things in the world - things that would never have made it to court 30 years ago.  However, today these things all pose significant risks to your wealth.  How do you protect that wealth?  Dual citizenship may be one of the keys to doing just that.

What is dual citizenship?  Basically, it is exactly what it sounds like.  It means that you are a legal, full resident of more than one country.  Can you do that?  You most assuredly can do that.  What does it offer in the way of wealth protection?  First, your second (or even third) home country can provide you with a place to invest your wealth where the government of the first nation cannot touch it.  However, you must be very careful when selecting nations in which to apply for citizenship.

What countries can you use for this purpose?  What does the law say about it?  For once, it seems that the law is on your side (at least for the time being).  According to US law, if the country to which you are applying does not have a law forcing you to renounce your US citizenship, then you can keep both, for life.  How do you become a citizen of another country?

This is where the situation gets a bit sticky.  Rules and laws governing citizenship vary considerably by nation.  The best tool on your side is the Internet - you'll be able to look up any nation you want and, through their governmental homepage, determine exactly how to go about applying for citizenship with them.  Of course, you can go about it a couple of other ways, as well; for instance, you can marry a national of that nation, or you can attempt to become a naturalized citizen (the meaning of that as well as the process will vary by nation).

Dual citizenship can provide you with tremendous help and ensure that you can protect your wealth from a government eager to take it away. 

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Peter Treble has 1 articles online

If you're interested in learning how to build wealth, keep it and live the life you've always dreamed of, then ByeByeBigBrother.com is the place to start. Learn perfectly legal tactics to protecting what you've got and become "Happy, Healthy, Sexy & Wealthy!" Visit ByeByeBigBrother.com to learn more today.

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Dual Citizenship Defined - What's it All Mean?

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This article was published on 2010/04/03