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.

While some countries do not allow dual citizenship, and would like you to renounce the citizenship of the other country when you apply for citizenship, others are relaxed about this. By and large, a country is concerned only with the fact that you are a resident citizen and they ignore your citizenship of another country. In order to obtain a dual citizenship you need to work closely with the legal and embassy people of the country of your choice, and complete all the required immigration formality like residency, investment and others. Once you get the second passport you can start enjoying the many advantages of dual citizenship.

Some countries actively discourage this practise and require you to renounce your previous citizenship when you apply for their citizenship. Others do not. Laws are different for different countries. As a norm, a country deals with you as a citizen while you reside in it, and ignores any other passport.

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.

Most countries restrict foreigners from building financial empires on their land. They also limit the amount of business you can conduct. You can definitely circumvent this by becoming a naturalized citizen.

You can save yourself a lot of worries in travel and will have to face no problems in travelling between the two countries and any others that these two are affiliated to. A Japanese passport is easily accepted for China for instance.

Countries like to safeguard the interests of their own citizens. Foreign businessmen and industrialists cannot operate freely or build empires. A dual citizenship helps in such cases.

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.