Why a Plan B matters: Mobility solutions for uncertain times

by Feliza Bahamonde

In an increasingly unpredictable world, having a “Plan B” has become more relevant than ever. For many, this doesn’t simply mean securing a job or moving to another city – it means having an alternative citizenship as a safeguard against unforeseen changes in their home country. This concept of a backup plan is gaining traction among individuals who are looking beyond immediate solutions like work visas, and seeking long-term options for themselves and their families.

The importance of a Plan B cannot be overstated, especially for those living in regions prone to political instability or economic uncertainty. In Latin America, for instance, the idea of securing a second citizenship is not just about seeking better opportunities; it's about ensuring security, freedom, and the ability to protect one’s family in times of crisis. Many individuals of European descent have the unique opportunity to obtain a second citizenship, which can serve as a powerful tool in their global mobility strategy.

Securing citizenship through descent is one of the most straightforward pathways available for those who qualify. Countries like Italy, Spain, and Germany offer citizenship to individuals who can prove their lineage, and this citizenship can provide a gateway to the entire European Union, opening up vast opportunities for work, education, and quality of life improvements.

However, not everyone qualifies for citizenship through descent. For these individuals, other avenues such as investor visas offer a viable alternative. Investor visas allow individuals to invest in real estate or business ventures in exchange for residency rights. This option is attractive to those who want the flexibility of a Plan B without the immediate need to relocate. It provides a sense of security and a practical solution for maintaining mobility in an uncertain world.

The process of securing a second citizenship or alternative residency requires careful planning and a clear strategy that aligns with personal and financial goals. It involves understanding the legal requirements of the target country, navigating complex documentation processes, and being aware of the long-term implications of such a decision. Additionally, it's important to stay informed about changes in immigration laws and policies, as these can significantly impact one's ability to obtain and maintain a second citizenship or residency.

Having a Plan B is not just a reaction to current events; it's a proactive measure that reflects a deeper understanding of the global environment. It’s about being prepared for the unknown and ensuring that there are options available when they are needed most. For individuals who value security, flexibility, and the ability to respond to changing circumstances, a well-thought-out Plan B is an essential component of their overall life strategy.

Feliza Bahamonde is a founding partner of Visandgo. She holds a law degree from the Catholic University of Chile and a Master's degree in Digital Law from the University of Salamanca. Qualified lawyer in both Chile and Spain, her practice includes Real Estate, Global Mobility Solutions, Foreign Investment, and Wealth Management.