If you are Jewish, have Jewish parents, grandparents, or a spouse, or are interested in converting to Judaism, you will have a citizenship option that others will not. Israel has a “Law of Return” which grants the right to relocate to Israel and obtain Israeli citizenship.
This law has been in effect since 1950 with a later amendment in 1970 to apply to descendants of Jews and converts. That’s right, this law is almost as old as the country itself, not to mention it was passed unanimously at the time. So you probably don’t need to worry about this one changing or going away anytime soon.
Despite its small size, Israel has the 29th largest economy by nominal GDP and there are definitely plenty of financial opportunities with a rapidly growing tech sector as well.
You could also qualify for some impressive tax breaks as well if you are considering this process. New Israeli residents will enjoy a 10-year tax holiday as of 2008, when Amendment 168 to the Income Tax Ordinance granted this right to new immigrants and those returning. Of course this isn’t so simple if your first (or any) passport is from the United States as you still must file taxes there.
When you arrive in Israel, you will need need to arrive as an Oleh and receive a certificate confirming your status. You will then have three months to decide to become a citizen and can then renounce existing citizenship during the process.
The right can be denied in the unlikely situation that the Minister of the Interior considers you a threat, or if you have a felony in another country for a serious crime, or are considered a public health risk to the people. You can also be denied if you engage in any anti-jewish activity, which can be defined as any kind of antisemitism or general discrimination against Jews.
The Israeli passport is a solid B+ passport which grants you visa-free access to all of Europe (including the UK), Russia, and most of Latin America, Canada, and New Zealand. The Israeli passport will not grant you visa-free access to the United States or Australia however. It should also be noted that you will be refused entry in several middle eastern and northern African countries as well as Malaysia and Brunei if you do decide to obtain this passport.
As the only Jewish majority country in the world, and as most Jewish people who have been there will tell you, there is a sense of community there that is just simply not found anywhere else. If you are Jewish, have Jewish family, or are considering converting, this could be the perfect opportunity for you.
This could be an excellent plan B passport with pretty good Visa-free travel access as well as generous tax incentives as a bonus.