Does a Second Passport Make Sense for My Family?

In 2026, the Canadian passport ranked eighth globally, offering visa-free access to 181 countries worldwide¹. By most measures, that level of mobility is exceptional. Yet among ultra-high-net-worth (UHNW) families, interest in second citizenships continues to surface, often framed as a “Plan B” in response to political, economic, or broader global uncertainty. The conversation for most families starts with a basic question: Is a second passport worth it?

A second citizenship is not a one-size-fits-all solution, nor is it a universal safeguard against uncertainty. Its value depends on the specific risks you are trying to address and the outcomes you want to protect against.

This article examines why families might consider a second citizenship, the realities and limitations you should weigh carefully, and the key questions you may want to ask before deciding whether it aligns with your long-term objectives. In our experience, the two most common reasons our clients have brought up the idea of a second citizenship with us are as follows:

Concerns About the Future

With the pointed speeches at Davos in January, and President Trump’s recent comment that ‘Canada lives because of the United States’, more wealthy Canadian families are considering what the future might look like in North America, and whether they want to obtain a 2nd passport as an insurance policy against worst case scenarios.

Geopolitical uncertainty feels particularly high in the current political climate, and this uncertainty can create a sense of instability for families and lead them to explore a second citizenship to provide optionality if the geopolitical situation further deteriorates in the years to come.

Tax Considerations

People sometimes assume that having a second citizenship automatically provides tax benefits. But getting a second passport doesn’t let you choose which country’s tax rules apply to you. In reality, tax obligations are usually based on where an individual lives, works, and maintains personal and economic ties (referred to as being a “tax resident”). One of our tax advisors used the following metaphor: “Imagine you ran into a judge on the street and told them everything about your life: where you spend your time, where your family lives, where you keep your home, and where your day-to-day activities happen. If that judge had to make a common-sense decision about where you “really” live, what would they say?”

In the cases where we have seen clients genuinely uproot their lives to move their families to the new country, they may also be subject to significant “departure tax” when leaving Canada. While it is often possible to defer this tax by posting security, the process is lengthy, administratively complex, and involves substantial professional fees.

If tax considerations are the primary motivation, we’d suggest you first consider two questions:

1. What would my tax bill be on departure from Canada, and can it be deferred?
2. Am I genuinely willing to move my family to a new country for tax benefits?

Our experience is that most people aren’t willing to uproot their lives and leave Canada solely for tax reasons.

Other Practical Realities to Understand

Obtaining a second passport involves extensive personal and financial disclosures and can also involve a significant financial commitment (depending on the country whose citizenship you choose to pursue). Understanding these demands early is critical before deciding whether it is worth pursuing.

Key considerations include:

It is costly, with limited pathways

Citizenship programs typically require either a direct contribution to a government fund or the purchase of qualifying real estate, often subject to minimum holding periods. When legal, administrative, and related costs are included, total expenses frequently reach six (or even seven) figures, making this a substantial financial commitment rather than a transactional decision.

The only way around these costs would be if you are eligible for citizenship through the ancestry-based citizenship programs that many countries employ. For example, many European Union countries are willing to grant citizenship to people whose parents or grandparents were born in those countries. Our general recommendation is to first explore this avenue before looking into the citizenships for sale in other jurisdictions around the world.

The process is often invasive and time-consuming

Citizenship programs require significant documentation, including detailed source-of-wealth information, multi-jurisdictional background checks, medical records, and family disclosures. Those who place a high value on privacy may find the level of transparency required invasive. For families with complex financial structures, assembling this material can also take substantial time and the involvement of legal and tax professionals.

Who Benefits Most and Who Generally Does Not

A second citizenship tends to be most relevant for families with international lifestyles, including entrepreneurs with cross-border operations, families with children living or studying abroad, or households whose personal and financial affairs span multiple jurisdictions. It may also appeal to those who prioritize long-term optionality, even if they don’t have any immediate plans to relocate after obtaining their second citizenship.

By contrast, if the primary motivation for exploring a second citizenship is tax considerations, we often find expectations don’t meet reality for most families.

When motivations are thoughtful and grounded in realistic expectations, a second citizenship can support long-term planning, provided you are comfortable with the financial cost, the extensive disclosure requirements, and the possibility that citizenship benefits may change over time. For families who view it as part of broader planning rather than a quick solution, it can be a meaningful tool within a wider wealth, governance, and legacy strategy.