For many people, dual citizenship looks like the ultimate dream. Being able to flit between two countries and enjoying the benefits of each. There are drawbacks to dual citizenship though, especially if you are actively seeking dual citizenship and not born into it. Here we discuss the pros and cons of dual citizenship.
The Advantages Of Having Dual Citizenship:
Freedom of movement
With having dual citizenship and two passports, comes the freedom to live and move around each country as you like. If one of your citizenship is for an EU country, you will also be able to move freely around the 27 nations.
Having dual citizenship allows you to study and live in each country you are a citizen of. This in turn opens a diverse range of cultures for you and helps you grow your cultural capital. Dual citizens often speak at least two languages, to help them navigate each country they live in.
Many countries around the world restrict property ownership to citizens or residents only. By having dual citizenship, you have a wider opportunity for property ownership. This could offer a more economical way to live between two countries or as investments.
The Disadvantages Of Having Dual Citizenship:
Dual citizens with US citizenship are required to pay double taxation on their income, regardless of where their main residence is. However, there are tax treaties between the US and other countries, so it is worth checking out which countries require double taxation.
Barriers to employment
Most commonly, dual citizens are not employed in roles where they will be handling classified information about a country and its government, as getting security clearance would be nearly impossible. This is less of a problem for those born into dual citizenship than for those who sought it out.
If you are lucky enough to have birth-right dual citizenship, either being born in a country or inheriting citizenship from a parent, you will automatically receive dual citizenship in most cases. However, if you are not the application process to become a citizen of another country can be lengthy, complicated, and expensive.
Becoming a dual citizen
If you were not born a dual citizen there are still ways you can become one. The best way is to consult with a citizenship solicitor about your unique situation.