Metro Manila (CNN Philippines) — Ever dreamed of getting a stronger passport so you can travel to more countries around the world without applying for a visa?
Beginning in 2024, investment migration advisory firm Passport Legacy will be setting up its representative office to help Filipinos secure a second passport in another country through investments.
“People generally try to obtain a second residency or citizenship in order for their children to have access to better education, have a plan B in the pocket in case anything happens in their home country, or they’re just looking for a way to travel visa-free around the globe for business or vacation purpose,” explained Jeffrey Henseler, CEO & Founder of Passport Legacy.
Passport Legacy said it helps clients through the process which takes between three and 12 months, depending on the program. “We charge a fee that varies between $15,000 to $30,000 depending on the family size, the program, and the length of the process itself,” said Daniel Duric, Managing Director of Passport Legacy.
‘9’: ‘image’: ‘jcr:af411534-c31b-4584-89c1-96af14b58b83’ ‘imageCaption’: ‘In photo (L-R): Daniel Duric – Managing Director of Passport Legacy; Jeffrey Henseler – CEO & Founder of Passport Legacy. Photo from Passport
As for the costs of investments, a Filipino who wants to invest in a second passport will need to spend the minimum amount of $100,000. “And these are countries in the Caribbean, located south of Florida. In countries like Saint Lucia, for example, [a] $100,000 investment grants you a second passport,” Duric explained.
The investment requirement can change over time. This is why an advisory firm like Passport Legacy can help their clients get the facts straight. “The one of Jeffrey’s is a Saint Kitts and Nevis passport, he obtained it few years ago when it was only $150,000. However, a few months ago, the government of the country has decided to increase it to $250,000,” Duric added.
’15’: ’embed’: ‘