Advantages of Having a Passport
Having a passport gives you the advantage of you can investing, banking, traveling or even residing in any country. Having more options guarantees you that you have more freedom and opportunities. You can internalize your assets and income when you have a passport. These may be off limits in some countries but you will have access to them. The regulations that have been put in place make it hard for you to open a financial account in another country. In this case it will be important to actually have a passport.
Another advantage of having a passport is that you will be able to travel more visa-free. Applying for a visa can take a very long time. When your travel arrangements are urgent this will be a great hindrance for you. This hassle can be time consuming and expensive. Having a passport will help you avoid all this. This is because you can travel without a visa. Having a passport will help you avoid foreign country blowback. If you travel to a country that has issues with your country, this may be a major problem. In this case passports have a minimal foreign policy blowback risk.
Having a passport guarantees you that you will not have to live like a refugee. You will have another place you can actually call home when you have a passport. Having a passport is the best way of having a legal right to working and living in another country. You will avoid traveling with your original documents when you have a passport. You will leave them at home and find them when you come back. This will help you avoid losing and damaging your documents. You cant losing documents like your birth certificate because you will need it later.
When you decide to renounce your citizenship having a passport will be of great help. You will be able to avoid huge tax regulations in this case. The political risk of renouncing your citizenship when you have a passport is very minimal. When you have a passport your government cannot place you under house arrest. No reason will make your passport to be cancelled in this case. Another advantage of having a passport is that it acts as your photo identification. You can just produce your passport whenever you are asked for an identification card. It is very important to have a photo identification when traveling internationally. You can be able to seek employment anywhere you have a passport. This means you can work in a country of your choice. To enjoy all these benefits ensure that you have a passport.