Dual citizenship basically means that a person is a citizen of two different countries. He may be born in one country and be a naturalized citizen of the other. Perhaps he is of mixed parentage, and has inherited the dual citizenship of both the countries. He may have been born in one country and has acquired the citizenship of another by fulfilling residency and other requirements.

There are many ways a person can acquire a second citizenship. He can be born in one country and have lived in another and become a naturalized citizen. He may have parents belonging to two countries and have the citizenship as right of birth (some countries do offer this), or he may have fulfilled residency and other formalities of a country of his choice and got his second citizenship.

You get to live and work in two countries. At times, like if you have a European Union citizenship, you get a wider base and can work in several countries. You can also take advantage of some benefits offered by the government of the country like free healthcare, grants, education etc.

The advantages of owning a second passport are many. If you want to reside and earn in a country of your choice, you need to work closely with their embassy and understand the immigration laws so that you obtain a passport in a legal way. Do not get conned by shady touts and do it the right way. Once you get your second passport you can start enjoying the many advantages of dual citizenship.

You will now have two bases in two different countries to earn from. If you have a passport of a country that belongs to a group, you have several bases to earn from. For example a European Union citizenship gets you to work and earn from many countries. Moreover, if the country offers its citizens some advantages like free health care or education; you can avail of this too.

You get to have a say in the political system of both countries. For a businessman intent on creating a favourable political climate for his own business, this makes sense since you can influence the policy makers of a country you are a citizen of.

You have the whole wide world to pick and choose from. You can research the market and apply for the citizenship of a country that has a huge demand for the goods you are dealing in. You can immigrate there and reap the benefits of your wise move.

Moreover, you may be able to pass on the dual citizenship to your children too after fulfilling some minor formalities, which can reap the same benefits.