Home Residency in Schengen 5 Drawbacks of Dual Citizenship

5 Drawbacks of Dual Citizenship

Are there some drawbacks to having second citizenship? In this video, Andrew shares 5 drawbacks you should be aware of right now.

Andrew Henderson and the Nomad Capitalist team are the world’s most sought-after experts on legal offshore tax strategies, investment immigration, and global citizenship. We work exclusively with seven- and eight-figure entrepreneurs and investors who want to “go where they’re treated best”.

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Andrew has started offshore companies, opened dozens of offshore bank accounts, obtained multiple second passports, and purchased real estate on four continents. He has spent the last 12 years studying and personally implementing the Nomad Capitalist lifestyle.

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DISCLAIMER: The information in this video should not be considered tax, financial, investment, or any kind of professional advice. Only a professional diagnosis of your specific situation can determine which strategies are appropriate for your needs. Nomad Capitalist can and does not provide advice unless/until engaged by you.

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31 COMMENTS

  1. Good thoughts. Definitely good to go in with your eyes wide open around the pros and cons of citizenship. Another potential drawback along the same lines as point 4 is that if you're accused of a major crime (which hopefully won't be a situation you'd ever find yourself in!) one of the countries could take away your citizenship. I heard that Australia was considering that for one of their citizens a couple of years ago, even though that person was born and had only ever lived in Australia.

  2. Most intelligence agencies have been forgiving. You simply disclaim you are a dual citizen but for administrative purposes sign up with only one nationality. No problem with security clearance. There are only 2 scenarios where dual citizenship limits you – CIA & MI6. Even the Secret Service allows it while not publicized anywhere.

  3. Hi Andrew, I’m a big fan and I’ve watched almost all your videos, especially the latest ones. Could you do a video on unique and unusual ways of obtaining citizenship in some countries? E.g. converting to Judaism and obtaining Israeli citizenship and enlisting in the French Foreign Legion and obtaining French citizenship?

  4. In Switzerland, everybody under 50 must engage in military service for an initial 3 months then a yearly repeat engagement (top-up training). I did mine in 1985 but wasn't required to do the yearly trainings because of my second citizenship.

  5. Limited consular service … even with the US having embassies all around the world, when the sh#t hits the fan they seem to leave their citizens high and dry and make you pay for the service. It hardly makes up for worldwide taxation.

  6. Some countries have laws on the books that say you must renounce other citizenships when you naturalise. But it’s usually signing a piece of paper which you can ignore down the road. It all depends.

  7. I just thought about leveraging marketing power to help dual citizenship, remember the squeaky wheel gets the grease. Mail their embassies, market what you're going to do with their citizenship.

  8. Thank you for this information. I just received my UK passport yesterday.

    I have citizenship in three countries:
    USA (naturalization),
    United Kingdom (birth), and
    Trinidad & Tobago (descent via parents).

    According to my research, I am allowed to have all three and have passports from all three.

    Timely information.

  9. 5 Drawbacks of Dual Citizenship:

    1. Ban on dual citizenship
    2. Required military service
    3. Citizenship based taxation
    4. Limited consular service
    5. Issues when working for the government

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