Benefits Of Holding A Second Passport

I have a tip that could save you a lot of time and money…

You may already know that I have two passports: My U.S. passport, plus an Irish one.

What’s the point of having two passports?

There are actually a lot of reasons why it’s a good idea…

We all remember the lockdowns and travel restrictions during the pandemic.

Americans were banned from entering Europe and Europeans were banned from entering America.

But because I hold both an EU and a U.S. passport, I was free to enter either jurisdiction. The bigger issue for me at the time was finding flights!

A second passport allows you to live, work, and invest more freely…

With an EU passport, for example—like my Irish one—you can get a job in any EU country, and move around the European Union at will. Stay as long as you like. Make it your forever home, if you want.

It’s the perfect backup plan for when things go bad in your home country…

A second passport can also allow you to visit more places without needing a tourist visa…

My Irish passport came in handy when I had to make a research trip to Brazil…

At the time, U.S. passport holders needed a visa to enter Brazil, but with my Irish passport, I could sidestep that requirement.

Brazil subsequently changed their visa rule for Americans—but now it’s changing back.

From October this year, Americans will again need a visa to enter Brazil. Brazilian tourist visas can take weeks to obtain, and there’s a fee of US$80.

I can avoid the wait and the fee with my Irish passport…

You just never know which country will change their requirements in the future.

A second passport is the most powerful travel tool and live-overseas tool you can have in your pocket…

So, there are at least three big reasons to get a second passport: (1) Avoid future lockdowns; (2) the right to live (no questions asked) in another country; (3) travel cheaper and more freely.

A second passport usually costs you one of two things: (a) a lot of time, or (b) a lot of money…

If you live in a country long enough, you will usually be entitled to apply for citizenship after a certain number of years. The length of time varies widely depending on the country…

You can also—in certain countries, particularly in the Caribbean—buy second citizenship and a passport. Many countries have so-called citizenship-by-investment programs (CIPs). Make a substantial investment in the country… which can include buying real estate… and you will be entitled to fast-track citizenship. There are options available right now from US$125,000.

But here’s my tip that could save you a lot of time and a lot of money…

Did you know that you could be entitled to a second passport, simply because of your heritage?

You could even be entitled to what I consider to be the best passport in the world… the EU passport (because it allows you to live in 27 different countries).

According to Bloomberg, up to 40% of Americans could actually be entitled to a European passport. If your parents or grandparents were born in Ireland, for example, and you can prove it, you will be entitled to Irish citizenship.

The same applies in many other countries.

For every American who has European heritage… this could be a pathway for you.

Researching your heritage can be fun… it can also open up the world to you with a second passport.

And here’s the best news of all…

There are nine EU countries where you can go back three generations (or more, in some cases) and still be entitled to citizenship… in other words, if you have a great-grandparent with citizenship from that country, you can also become a citizen (and get that country’s passport).

Bulgaria:

Offers citizenship by descent to those who can prove they are of Bulgarian origin, with no limit on the number of generations that may have passed.

Hungary:

In 2010, Hungary amended its nationality law to allow for the naturalization of foreign citizens of Hungarian descent without the need for a residency period or mastery of the Hungarian language.

If you can prove you have a descendent from within the borders of the Hungarian Empire, dating back to the Middle Ages, you can become a Hungarian citizen…

Ireland:

Ireland grants citizenship up to the third generation of Irish descendants. This is one of the most popular. Even though Ireland has a population of just 5 million… around 15 million Irish passports are in circulation.

Italy:

If you can demonstrate Italian ancestry, dating back as far as when modern Italy was unified in 1848, you’ll be eligible for citizenship.

Latvia:

Anyone belonging to the Latvian or Liv ethnic groups, and descendants from those exiled from Latvia by war, are eligible for Latvian citizenship. There are no specified generational limits.

Lithuania:

You’re eligible for citizenship if one of your ancestors up to and including your great-grandparents were citizens of the Republic of Lithuania (from 1918 to 1940), or if your ancestor left Lithuania before it regained independence in 1990.

Luxembourg:

You can claim citizenship by descent if your parent, grandparent, or even an earlier ancestor (from paternal lineage) was a Luxembourg national. You’ll need to provide the birth certificate of your ancestor or other relevant documents, available upon request in Luxembourg’s public records bureaus.

Poland:

The country grants citizenship to those who can prove that they have ancestors who were Polish citizens at or after the founding of the Second Polish Republic in 1919, and there are no generational limits on eligibility.

Slovakia:

If you have an ancestor born in former Czechoslovakia on what is today the territory of the Slovak Republic, you can claim citizenship…

If you are thinking on planting flags in any European country, it’s worth it to do a little digging into your ancestry.

It could save you a whole lot of time and money on your overseas journey…

Stay diversified,

Lief Simon
Editor, Offshore Living Letter