Young, upwardly mobile Africans are recognising that Residency and Citizenship by Investment Programmes can take them places.
RIF Trust, part of the Latitude Group, are global experts leading the investment migration industry with their fingers to the pulse, tracking the latest developments.
Here is a summary of the top programmes:
Caribbean Citizenship by Investment Programmes:
The Caribbean Citizenship by Investment Programmes are available in the Eastern Caribbean region. Antigua and Barbuda, Dominica, Grenada, St Kitts and Nevis, and St Lucia are the countries offering you the chance to invest in citizenship.
These Citizenship by Investment programmes give citizenship in return for a financial donation to the country’s economic development. Becoming a citizen of Antigua and Barbuda, Dominica, Grenada, St Kitts and Nevis, and St Lucia enhances your global mobility, making it easier for you to visit destinations such as the UK and the European Schengen Area.
On Wednesday, March 20, 2024, Antigua and Barbuda, Dominica, Grenada, and St Kitts and Nevis leaders came together virtually to sign a Memorandum of Agreement. There was no representative from St Lucia. The 4 Prime Ministers agreed to raise the Citizenship by Investment price threshold to be at a minimum of $200,000 by Sunday, June 30, 2024.
Currently, the minimum investment you can make in Antigua and Barbuda, Dominica, and St Lucia CBI is $100,000. To get Grenada Citizenship by Investment, you must make a capital outlay of at least $150,000. The minimum CBI threshold in St Kitts and Nevis, however, is $250,000.
Portugal Golden Visa:
Portugal is known for its high quality of life with stunning beaches, historic cities, and delicious cuisine, making it an outstanding place to visit or raise a family.
The Portugal Golden Visa programme offers you residency in Portugal. As the real estate option ended in 2023, the most popular route is through an investment of €500,000 in a Portuguese investment fund or venture capital fund.
The visa is valid for six years through renewals and is a pathway to permanent residency or citizenship, assuming that you learn basic Portuguese. You must spend seven days in Portugal during the first year of residency and 14 days in each subsequent two-year period to maintain the visa.
It gives holders visa-free travel access to all 27 European Schengen countries. You can include your spouse, dependent children, and dependent parents over 55 years old as part of your application.
Spain Golden Visa:
Spain is one of the most popular tourist destinations, with an ever-growing number of expats attracted to its appealing climate and laidback lifestyle.
The Spain Golden Visa programme offers Spanish residency via a minimum investment in real estate of €500,000. The visa is valid for 10 years and can lead to permanent residency or citizenship. It gives holders visa-free travel access to European Schengen countries.
Spain has a strong economy, excellent education and healthcare systems, and a rich cultural heritage. Popular sports and activities include football, golf, and beach activities, and Spain is known for its high-end gastronomy and fashionable nightlife. Living in Spain provides access to some of Europe’s most stylish cities, including Madrid and Barcelona, and stunning coastal regions.
Greek Golden Visa:
The Greece Golden Visa programme offers residency in Greece through a minimum investment in real estate of €250,000. The programme is one of the lowest-cost residency routes within the European Union (EU). It gives holders visa-free travel access throughout EU Schengen countries.
With this visa, you do not need to spend time in Greece, and you can include a spouse and biological or adopted children up to the age of 21 living within the family home in your application. Investing in real estate in Greece not only delivers you a Golden visa but also gets you to collect rent from any tenant you rent the property out to. The visa is valid for five years and can be renewed indefinitely.
Malta Permanent Residence Programme
The Malta Permanent Residence Programme (MPRP) offers non-EU citizens the chance to obtain permanent residency in Malta starting from a minimum capital outlay of €150,000.
The MPRP provides freedom of movement within the EU, including visa-free travel to the European Schengen countries. To qualify, you must either rent a property in the south of Malta or Gozo for a minimum of €10,000 per year or purchase a property for a minimum of €368,000.
This, along with access to Malta’s healthcare, education, and job opportunities and a tax-efficient system, makes the MPRP an alluring option if you’re looking to obtain permanent residency in Europe.
These are the top Residency and Citizenship by Investment options recommended for Africans in 2024 to access global opportunities and global mobility. If you would like to explore these programmes further, it is important to consult with an investment migration expert like RIF Trust. For further details, visit www.riftrust.com, call +234 (0)9123515849, or email nigeria@riftrust.com.
