Why, For What, and How to Obtain a Second Passport

Drop your old passport and get a Second Legal Passport

The first question that may arise upon hearing the terms – “second passports” or “second indentities” – is simply, why do I need one? In reality, the answer depends on many things. The majority of people that opt to do this are concerned about their personal security. For example, some people from certain countries face a lot of problems when trying to obtain an entrance visa to certain places. However, if they had a second passport from a less complicated nation, in the current political scene, then it would make it much easier to travel. With a second passport it is possible to travel to almost 100 countries, including some European ones, for a period of up to 6 months with a visa. With this documentation, you can also open bank accounts anywhere in the world. It is not only about travelling, however, but also business.
Perhaps that person is interested in opening a business in a country that puts too many requirements to allow them entry. Therefore, second passports work well for this. Maybe that person has a lot of business in this country and needs to be able to enter and leave constantly without passing through so many controls – for this case, second passports also function. Or it’s possible that that person is almost at the point of losing money and the cost of a second passport would be less of a loss that the potential loss of earnings. In the end, the number of possible cases is great. After getting a more complete image of the some of the advantages of second passports, people may then ask themselves – how do I get one?  Before getting into the technical details, it’s important to clarify that second passports are legal documents, so there isn’t any reason to worry about this. Also, it is useful to explain that a second passport doesn’t necessary mean to obtain citizenship in certain places.
If we review second passport terminology, we will find that there are both economic passports and business passports. The governments ask for one condition – that the possible new citizens fulfil certain financial criteria to suit the particular needs implemented for each state in their second passport programs. Let’s look at one example: in Singapore, one receives a second passport if they gather necessary financial means that prove attractive to the government. The idea is to promote investment and for this reason, Jim Rogers, the famous investor, established in Singapore, already considers that the economic future is in Asia.
Another example: Belize had, for awhile, an interesting economic passport program that costed about US$50,000, but, unfortunately, this program was interrupted. In addition to economic and business passports, are the discretional passports that are given to people born in a certain country. One of the main beneficiary of this type of passport are athletes. The funcion is simple: a country wants to attract an athlete that will help them to win many medals in multiple competitions. Therefore, they offer the possibility of a passport in exchange for the athlete competing under a new flag. This is not done openly, but rather with discretion because the country where the athlete is from could protest and look for sanctions from international sport organizations.
A third doubt could be: How long can a passport last for?  Sometimes impatience results in negative consequences. Depending on requirements and who is selecting the passport, they can last for around 5 years or less. For example, a Panama passport requires a deposit, every 5 years, that produces US$850.00 in monthly interest in the National Bank, so that the person receives a passport for the same amount of time. At the end of that time, if the passport is not renewed for another 5 years, then the passport will expire. Although Panama requires a bank account large enough to generate US$850.00 in monthly interest, other countries include in their requirements that one buys a house or lives for more than 3 years in the country before applying for citizenship, including when the person already has a second passport. However, there are other alternatives to getting a second passport. There are also fast track passports. These programs implemented in Central American, Caribbean and South America countries allow the acquisition of a passport for life in a short period of time. To achieve this purpose, the cost is approximately 12,500 Euros. Once you have gotten the nationality, you can also apply for a name change. Thefore, after getting a more complete idea of the advantages and requirements for getting second passports, then ask: How to get one?  There are speciality business that offer consulting services, like OPM Security. The process includes contact with the business in order to know their motives and reach an agreement about the legal requirements necessary to obtain a second passport. The business would carry out the appropriate examinations and provide advice. If there is some reason why OPM Security couldn’t help, then, immediately, they would let you know and if you decide to proceed, the business would take the country of your choice and finish the process for you.

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