Africa continues its trajectory as a growth market for investment migration in 2022, says Amanda Smit, managing partner at Henley & Partners South Africa.
The citizenship planning firm has recorded an overall increase of 18% in applications from African citizens seeking alternative residency and citizenship over the past 12 months.
“By early February 2022, we had already received over 11% of total inquiries for 2021, a trend we believe will continue throughout the year as affluent investors strive to diversify their domiciles. along with their investment portfolios in an effort to gain greater access and option as a hedge against relentless market and political volatility,” Smit said.
Zimbabwe took the top spot with a 48% increase in inquiries over 2020. Neighboring South Africa saw the second highest level of growth with a 40% increase in inquiries as well as a record year in terms of volume of enquiries. of South African citizens. Algeria, Egypt, Ghana and Nigeria all saw impressive 25% increases in enquiries.
Investment migration programs that offer the possibility of real estate investment as a pathway to residency rights or acquisition of citizenship are particularly popular among African investors, Smit said.
“International real estate has always been a reliable and attractive asset class for global investors due to its high stamina. Real estate related investment migration programs have the added benefits of enhancing your global mobility through multiple passports and extend your personal access rights as a citizen or resident of additional jurisdictions.
“The combined effect is an increased option in terms of where you and your family can live, work, invest, study and retire. Possible gains over the life of the investment include the fundamental value of the asset, potential rental returns and extensive global access providing an opportunity to not only diversify assets, but also create country diversification.
The following countries are popular destinations for South Africans:
Caribbean Island Nations
According to Henley & Partners, the following island nations generated the most interest in 2021:
Dominica offers the right to free movement and visa-free access to 144 destinations worldwide with a minimum investment of R1.6 million [$100,000] and a processing time of three months.
In August 2013, the parliament of Grenade adopted a Citizenship Investment Plan which provides the right to free movement to Grenada, China, Russia, Singapore, the United Kingdom and the European Schengen area with a minimum contribution of 2.4 million rand [$150,000] and a processing time of three to four months.
The double island of Saint Kitts and Nevisoffers air links to Europe and North America, pristine beaches and a diverse culture with an investment of R2.4 million [$150,000] and a processing time of three to six months.
The Mauritius residency program allows foreign nationals to make a real estate investment in the country and apply for a residence permit.
“Successful applicants and their families are granted full residency rights, including the right to live, work and retire in Mauritius,” Henley & Partners said.
To obtain residency, Mauritius requires a minimum real estate investment of R5.6 million [$375,000] and you are waiting between two and six months for the treatment to be completed.
Offering citizenship in Europe and access to the euro, Montenegro has since 2019 a citizenship-by-investment scheme which requires a minimum financial investment of R4 million [€250,000]a donation of 3.2 million rand [€200,000] and you wait between six and eight months for the application submission to be approved.
Considered one of the most globalized and peaceful countries with a high quality of life, Portugal has become the interest of many people wishing to immigrate.
As a full member of the EU, residency allows visa-free access to the European Schengen area and requires an average stay of just seven days a year in Portugal over the five years.
An investment of 3.2 million rand [€200,000] and a processing time of three to six months is required.
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