By Harvey Law Group
There are many benefits to getting a Golden Passport or Golden Visa for families. For many people, especially investors, a secondary citizenship or residency opens more doors for work and business. For families, education is definitely one of the biggest factors. Acquiring a second passport for your family means giving your family members, particularly your children, the chance to study in prestigious universities and colleges outside of your home country. And admittedly, these opportunities can open new doors.
Notably, a whole family could be granted with permanent residency cards, allowing each member to work, go to school, and stay longer in the country under a strong title of stay. More than bringing facility in setting up a student abroad, it is a way to create a real balance between the investment and what you can get in return, as well as maintaining an open door for a second citizenship.
Moreover, a second passport can even reduce the expenses of studying abroad. For example, a Cypriot or Maltese passport, both being a European Union (EU) country, grants significant education benefits throughout all other EU countries. Practically, this means that children having a Cypriot or Maltese passport will not be subject to international students’ quotas and, of course, will pay the tuition fees of a local thanks to their EU passport.
As for those holding a Caribbean passport (all of them being Commonwealth passport), some universities will grant tuition fees rebate for other Commonwealth passport holders. This reduces the parent’s financial burden while maintaining a decent investment and a stronger passport!
If you’re in the process of acquiring a second passport for your family, here are 3 reasons why getting an education abroad is an investment of a lifetime.
1. It makes the world a smaller place.
Crossing borders leads to many opportunities. Nowadays, the world seems to be a smaller place where you can emphasize mobility and have a multi-cultural life, consequently improving your background and your possibilities.
2. It helps you understand cultural diversity.
The knowledge you can get from other cultures is one of the best assets you can obtain. This is particularly true for the younger generations who are facing tighter competition and challenges. The youth have to improve their experiences to “make the difference” in their careers. Thus, leaving your mother country is becoming a need for some students. This can be seen by the constant increase in students moving abroad.
3. It gives you an edge in a competitive workplace.
Being granted with a Bachelor degree or a Master from an American or European University is sometimes seen as a “Passport” to better and more secure positions in the workplace. Besides the most famous colleges such as the Massachusetts Institute, Harvard University or The University of British Columbia respectively located in the US and in Canada, those countries enjoy a reputation for Education which remains unbeatable.
In fact, according to figures from the Migration Policy Institute, there were about 1.1 million foreign students in the US in 2017. The US remains as the top country of choice when it comes to studying abroad, while the UK and China are the next two most popular destinations.
Earn Your Degree Abroad With A Second Passport
Offering the path to a “background of excellence” requires significant investments. The amount of money to be invested along with the cost of living could quickly reach hundreds of thousand US dollars. Since investing directly this amount of money will only lead to the issuance of a student visa for the children, choosing another path will allow you to get more advantages.
For instance, the registration fees for colleges in the US is significantly reduced for a US resident compared to a non-US resident. This is why many people opt to invest in a second passport instead that can open doors for overseas education along with a new residency or citizenship.
If you’re interested in getting a second passport, contact your Harvey Law Group representative soon.
Mr. Samuel Harvey
Harvey Law Group
Edits: Kath C. Eustaquio-Derla
About Harvey Law Group
HLG is a leading multinational law firm specializing in corporate law and investment immigration with a worldwide reputation for representing high-profile clients and corporations, with over 19 offices worldwide. As the top immigration law firm, HLG offers the most comprehensive residency and citizenship programs available to date. HLG was awarded for Immigration Law Firm of the Year at the 13th and 16th annual Macallan ALB Hong Kong Law Awards 2014 and 2017.