The number of high net worth individuals in the home of humanity, as much of the developing world, is growing every year.
In fact, Africa has a handful of sophisticated offshore centers such as Seychelles and Mauritius.
Only in South Africa, figures estimate somewhere between 45,000 and 90,000 HNWI, of which 4,000 have permanently left the country. Many have sought the opportunity of a second passport for South Africans and fled their country looking for a better quality of life.
In this article, we will show you the significance of a second passport for African HNWIs.
Right now, one of the main issues African HNWIs are facing is the legal certainty a secure passport gives.
The best African passports (Botswana, Seychelles, Mauritius, etc.) are just average-ish on a global scale.
And still, unfortunately, many African countries are politically unstable and have serious civil conflicts and unrest.
In a best-case-scenario where coups and civil wars are off the table, they still may suffer from significant corruption issues and public utility shortages.
Many African high net worth individuals know that, unfortunately, most African passports raise many red flags. It usually means that any foreign investment, company incorporation, bank account procedure, will take extra paperwork.
Also, even if you’re wealthy you cannot secure the quality of life in Africa that a Caribbean paradise or an EU CBI program can give you. You can still suffer from deficient healthcare services, reduced education options for your children, additional investments in private security, and shortcomings in public services.
A more-than-foreseeable economic crisis after the COVID-19 pandemic has led many HNWIs to take the leap and look for citizenship by investment options.
But how can you do that?
Options for African HNWI
There is a wide array of options where to pick from, and we cannot explain them all in this article.
If you just want a passport for the sake of having one that provides you with safety, freedom to travel, and to do business, and you want it quick, the most affordable and fastest options are in the Caribbean.
You have options starting at $130,000-$150,000 in countries like Antigua and Barbuda, St.Kitts and Nevis, and Grenada, and you’ll receive the passport somewhere between 60 to 120 days.
If you want to substantially increase your quality of life, the EU passports are the best possible option. Malta and Cyprus are widely considered to be among the best CBI programs, but they’re also the most expensive. If you want to relocate to the EU, you might want to consider some of its Golden Visa programs, such as Greece, Spain, Portugal, or even Cyprus and Malta. They will allow you to live and work in those countries, and, in some cases, eventually receive the passport.
If you’re looking for a passport that provides you with a tax-free life with almost-Randian freedom, Vanuatu is a fantastic option starting at just $150,000.
And, if you want to eventually relocate to and invest in the US, the Grenadian, Turkish, and Montenegrin CBI programs offer this possibility because they have agreements with the US which allow their citizens to apply for an EB-5 American Visa, popularly known as investment visa.
There are options for all pocket sizes, for all likings, and all kinds of high net worth individuals.
Even if some African countries are becoming free-market wonders and marvelous examples of developing nations, a second passport for Africans is an unmissable opportunity. It will allow them to improve their life quality and not be subject to arbitrary restraints of their freedom.
How to start? All you need to do is contact us right now, and we’ll find a tailor-made CBI solution for you.
