More of Africa’s elite are now exploring investments outside the continent. One key investment to consider is citizenship by investment (CBI). CBI is a legal process through which individuals can acquire citizenship or residency rights in a country by making a significant financial investment. A second passport through the CBI route gives you access to global mobility and more investment opportunities.
Typically, this investment involves purchasing real estate, making a donation to a government fund, or investing in a local business. In return, the investor and their immediate family members are granted citizenship or residency status and the associated rights and benefits, such as visa-free travel, access to better healthcare and education, and potential tax advantages.
High-networth individuals in Africa are utilising CBI programs to expand their global mobility, diversify their investments, or secure a backup plan for themselves and their families. Here are some top countries Africans should explore for CBI
- Turkey Citizenship by Investment – The Republic of Turkey is a beautiful country located between West Asia and SouthEast Europe with a population of over 84 million people. Turkey’s Citizenship by Investment program offers a pathway for individuals, including Africans, to obtain Turkish citizenship through investment. Launched in 2017, the Turkish CBI program has gained popularity due to its relatively affordable investment options. Turkish citizenship offers visa-free or visa-on-arrival access to over 110 countries and territories, including many African countries. Its strategic location at the crossroads of Europe, Asia, and Africa and its growing economy present various economic opportunities for investors.
- Grenada Citizenship by Investment – Grenada‘s Citizenship by Investment (CBI) program offers interested individuals worldwide the opportunity to obtain citizenship and a passport in exchange for an investment in the country. The program allows investors to include their family members in the application, including spouses, children, and dependent parents or grandparents. Grenadian citizenship offers visa-free or visa-on-arrival access to over 140 countries and territories, including the Schengen Area, the United Kingdom, Singapore, and China. This is a significant benefit for Africans looking to travel internationally for business or leisure, as it provides easier access to a wide range of destinations without the hassle of obtaining visas. Like many Caribbean nations, Grenada offers opportunities for investment in sectors such as tourism, real estate, agriculture, and renewable energy. Grenada’s CBI program
- St Lucia Citizenship by Investment – St Lucia is an island in the Eastern Caribbean region, boasting volcanic beaches, reef-diving sites, luxury resorts, and fishing villages. Saint Lucian citizenship provides visa-free or visa-on-arrival access to over 140 countries and territories, including the Schengen Area, the United Kingdom, Singapore, and Hong Kong. Recent economic growth in the country makes it an attractive destination for investment and business development. Saint Lucia also offers attractive tax benefits for residents and citizens, including no income, capital gains, inheritance, or estate tax.
- Malta Citizenship by Investment – The Republic of Malta is a small island country located in the central Mediterranean Sea, and its CBI program offers citizens the right to live, work, and study in any of the 27 EU member states, visa-free travel to over 183 countries, easy access to neighboring countries, high-quality education and so much more. alta offers attractive tax benefits for residents and citizens, including a flat personal tax rate of 15% and various tax incentives for businesses and investors.
- St Kitts and Nevis Citizenship by Investment – For Africans seeking greater global mobility for business, education, and leisure purposes, St Kitts CBI is ideal because of its visa-free access to over 150 countries and territories, including the Schengen Area, the United Kingdom, Singapore, and Hong Kong. You can also add your family members to your application and extend the benefits to them. Despite being a small island nation, Saint Kitts and Nevis boasts a stable and resilient economy with a strong emphasis on tourism, financial services, and real estate development. The country’s government has implemented sound economic policies and investment incentives to promote sustainable growth and attract foreign investors.
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