Reasons to Obtain a Second Passport:
 

In these troubled days many people wish to acquire a second nationality.    A second passport can offer useful insurance against political, economic, or fiscal change 'at home'.  A new nationality may make international travel easier, open up new opportunities for tax planning, or allow the holder to avoid discrimination.

The last two decades have seen worrying totalitarian moves by western governments. Increasingly they are revoking the passports of citizens involved in civil disputes withthe government.  This effectively prevents international travel - unless the individual has
an 'insurance policy' in the form of the passport of another country.

There are many nationals who have to endure difficulty and lengthy waiting periods for the obtainment of visas for travel to a number of western countries. This may be because they are a national of a developing country or there may be animosity
between their country and another. Also many US (and certain other) nationals are greatly concerned that, by travelling on their current passports, they risk hostile treatment from government officials, kidnappers and hostage takers. By obtaining a second nationality, these risks can be reduced.

Even if they never set foot in the USA, the citizens of the US are subject to tax on their world-wide income.  They are denied the residence-linked tax planning opportunities that are available to almost everyone else.   Such people can often gain vast fiscal advantages by acquiring a new citizenship and renouncing their American citizenship (if they should ever wish to reclaim their US citizenship, that would not be a problem).

It is generally possible to obtain naturalisation in a suitable country in two to three months. The nationalities will depend on the particular circumstances. In general, a target country should offer:-

A passport allowing visa-free travel to frequently visited countries. The absence of taxes on either foreign-source income, or the income of non-residents.  A low profile - little or no hostility to the country's nationals throughout the World.

We find that the most useful nationality that can be acquired legally and quickly and that allows for visa free travel is that of Ireland (currently suspended), however it is very expensive and the investment may incur some risk. Austria sometimes grants nationality to those who have benefited the country by suitable investment, but the process is not that quick (it takes a year or two), and there is no guarantee of success before the 'socially / nationally beneficial' investment is made. Nationality of Carribean and Central/South American countries is also recommended but over the years there have been a number of scandals involving passport fraud; these days it may take as long as six months to confirm the legal basis of any programme.

* Taken from BCL Immigration Services - I do not necessarily recommend this firm's services.