Citizenship shopping is a growing trend. Many wealthy individuals are looking around the globe for a "home" that will give them better passports and tax treatment. Can anyone become Canadian? Irish? Maltese? If you deal with high-net-worth clients, you'll need to understand the issues involved.
The motives for seeking citizenship can be complex. They include a wish for political safety, freedom of travel, a healthy environment, tolerance, work opportunities and, of course, lower taxes.
What are the advantages of citizenship over legal residency? Usually the ability to vote and (more importantly to most) to live there without risk of deportation. You also acquire a new passport, which may be easier to travel with—of great interest to wealthy individuals. On the downside, citizens are sometimes obligated to be available for military service.
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