Gaining a second passport is a crucial step in internationalizing your life. You can be a dual citizen of the United States and another country, depending on the place. For the average American, the advantages of a second passport are many: immediate residency and the right to work in another country; safer, easier, and less costly travel; the ability to renounce U. S. taxes; easier access to foreign banking; increased foreign investment and business opportunities; and the ability to pass down citizenship to heirs, to name a few. In short, a second passport can be the single most powerful tool for creating options, not only for you but also for your children. Your current country of citizenship may be great today, but what value will that passport have in 10 or 20 years, or a generation after that? Impossible to say. But as easy as it is to understand and embrace wanting a second passport, getting one is far more difficult. Unless you’re born a multi-citizen, obtaining a second passport takes time and money, or both. Countries around the world have programs that essentially allow you to buy citizenship for hundreds of thousands of dollars, but these programs require you to be a multimillionaire to make the total cost of investment and government fees worthwhile. A less costly route is getting naturalized through residency. Many countries make it possible to acquire citizenship and a passport after being a resident for a specific number of years. The cost of obtaining a passport this way is usually but a few thousand dollars. The much bigger investment requirement in this case is your time. The catch is the required period of residency, which varies country to country. Most countries require you to be a permanent resident for five years before you’re eligible to apply for citizenship and be physically present in the country for most of that time. I’ve identified six of the world’s easiest countries to acquire a second citizenship through naturalization. These have not been selected for passport power but because they are realistic options for the average American seeking a second passport. Portugal is one of the easiest places in Europe to establish residency. You can qualify with a Portuguese Golden Visa (a residence-by-investment program that requires investments above specific thresholds) or by proving financial solvency. The financial solvency option allows you to qualify for residency simply by showing proof of reliable ongoing income (whether from financial investments, a pension, or rental income) of at least 1,200 euros per month, as well as meeting a handful of other requirements. This is known as the D7 Visa or Passive Income Visa. It’s intended for people who wish to live in Portugal, rather than pure investors. It requires you to spend at least 183 days in the country each year, making you a Portuguese tax resident. The visa is valid for two years, after which, it can be renewed for three years.

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