A few years ago, it was rare to have dual citizenship. Now it has become more popular to own one, two or even three passports.
What are some of the benefits:
- Freedom to Travel
- Freedom to Open a Business in a Foreign Country
- Freedom from Taxation
- Health Insurance
For example, let use the country Malta. Malta which is one of the most popular passports to get. The reason for this is private equity or hedge funds can benefit from a friendly tax regime. In addition, a passport in Malta also gives the individual eligibility to work anywhere in the European union.
For health insurance, the benefits could be vast.
For example, an individual who Is a U.S. Citizen who spends quite a bit of time in Germany can pay less than 50% then his counterpart in the United States. Are the benefits different? No.
The reason for this is the price of healthcare. If you are in a country where healthcare is cheaper like Germany or Canada your premiums will also be cheaper.
In conclusion, it may make sense for an individual to get dual citizenship depending on circumstances. At E&M we only specialize in life and health insurance for these individuals. For a quote on an international health policy please call Evan Tunis at 800-974-5077.
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