Citizenship by Investment for South Africans
With a South African passport you can only travel to approximately 97 countries without a visa. While some might claim that the South African passport is one of the most powerful passports in Africa, the South African passport ranks low globally according to various passport indexes. South Africans require visas for almost all European countries.The low visa free travel means that South Africans must go through the tedious task of applying for visas and often make pre-travel arrangements.
Due to the low visa free travel, the number of wealthy South Africans choosing to obtain a second residency or second citizenship is growing significantly. South Africans are turning to the Caribbean & European Citizenship by Investment Programmes. These are two popular citizenship-by-investment programmes amongst South Africans:
- St.Kitts & Nevis Citizenship by Investment
- Cyprus Citizenship by Investment
St.Kitts & Nevis Citizenship
The St.Kitts & Nevis Citizenship by Investment Program is one of the best Caribbean Citizenship programs. Approval for St.Kitts & Nevis Citizenship can take approximately 3–6 months. The passport permits visa free access to 140 countries which includes the Schengen countries, United Kingdom and Russia amongst others.
There are two options to satisfy the investment requirement to obtain Citizenship. The first is a donation into the Sustainable Growth Fund in the amount of US$150,000 for the main applicant, US$25,000 for the spouse and US$10,000 for qualified dependents. The second option would be to invest in designated government approved real estate in the amount of US$400,000 (additional processing fees, government fees, legal fees and insurance fees apply).
Some of the advantages of St.Kitts & Nevis Citizenship include the following:
- Visa Free Access to 140+ countries including Schengen countries, Russia, United Kingdom
- More visa free countries are regularly obtained
- No requirement to reside or visit the country
- Tax advantages
- Families can obtain Citizenship (dependent children under 30 and elderly parents over age 55)
- Citizenship can be passed on through generations
- Stable Economy
General Information about St.Kitts & Nevis
St.Kitts and Nevis is a is a two island country located in the Caribbean next to the popular islands of St.Maarten and St.Barths. The legal system is based on Common Law with the final court of Appeal the Privy Council in London. St.Kitts and Nevis is a member of CARICOM and the United Nations amongst other international organizations. The country is often voted one of the best Caribbean islands to visit.
Cyprus Citizenship by Investment
The Cyprus Citizenship by Investment Program is one of the best European Citizenship programs. Approval for Cypriot Citizenship can take approximately 3–5 months. The Cyprus passport allows you to live and work anywhere in Europe without ever having the need to reside in Cyprus. The passport permits visa free access to 140 countries which includes the Schengen countries, Australia, Canada, United Kingdom and Singapore amongst others.
The investment requirement for citizenship requires a minimum investment of 2million Euros in residential properties or 2.5 million Euros in commercial properties. Applicants are required to keep real estate in the amount of 500,000 Euros indefinitely and can sell all other real estate after a period of 3 years.
Some of the advantages of Cyprus Citizenship include the following:
- Work and live anywhere within the European Union
- Visa Free Access to 140+ countries including Canada, Australia, Schengen countries, Hong Kong
- More visa free countries are regularly obtained
- No requirement to reside in Cyprus
- Obtain a Cyprus permanent residency card
- Free trade within the EU
- Tax advantages
- Families can obtain Citizenship (dependent children under 28 and elderly parents over age 65)
- Citizenship can be passed on through generations
- European passport and lifestyle
General Information about Cyprus
Cyprus is a large island located in the Mediterranean Sea with a population of just over 1 million. While Greek and Turkish are the official languages almost everyone speaks English and most business is conducted in English. The Legal System is based on English common law. Cyprus has been a member of the European Union since 2004 and the country has one of the lowest tax rates in Europe and there are tax exemptions for Cyprus citizens who do not live in Cyprus.
Jennifer Harding-Marlin
Citizenship by Investment Specialist
jennifer@jhmarlin.com
