American Marconi Wireless News - Passport Perks: How Dual Citizenship Can Unlock a World of Traveling Opportunities

Visa-free access to more countries

Each country has a list of destinations that are visa-free for its citizens. For example, the U.S. offers visa-free access to 186 countries across the globe. However, you may be able to get visa-free entry into other nations using your other (non-U.S.) passport. For example, German passports are considered more powerful than U.S. passports since they offer visa-free entry to 192 countries.¹

Stay longer in both countries to work

Dual citizens benefit from being able to seek work in both countries where they hold passports. This means they may be able to apply for jobs that certain travelers would need a work visa to become eligible for. This may not be a big concern for anyone looking to take short trips, but it can make a big difference when you're planning a long sabbatical and intend to work during that time.

Faster entry into certain countries

A U.S. passport grants fast and seamless entry into the U.S., while a German passport makes it easy to enter Germany. However, a German passport may make it much easier to travel through other parts of Europe, too. German passport holders can use digital border checkpoints to move between countries in the EU, while a U.S. passport holder may need to have their passport checked by a border guard.

Important considerations for dual citizenship holders

Besides travel, dual nationality offers benefits like easier property ownership in two countries, opportunities for cultural immersion, access to benefits from two different countries, and consular protection from two countries when you're abroad. However, it's important to understand how some of your existing assets and lifestyle choices may be affected before you apply to be a dual citizen. Here are a few things to discuss with immigration lawyers and service providers.

• Traveling abroad may affect the terms of your life insurance and estate planning. If you have term life insurance or another policy, talk to your provider about how dual citizenship may affect your coverage and payment of the death benefit to beneficiaries. For estate planning purposes, work with a professional to understand how assets are distributed in each country and set up your will accordingly.

• Talk to a financial expert about your tax obligations as a dual citizen. For example, U.S. citizens must pay taxes in the U.S. for income earned overseas.

• Research the complexity of the process and the potential pitfalls. Attaining dual citizenship can be expensive and complicated in some cases. Talk to a lawyer about the possibilities beforehand.

Sources:

¹https://www.henleyglobal.com/passport-index/ranking

Contact:

Don Klein
1-800-323-7033

SOURCE: Northwestern Mutual

G.Stevens--AMWN