22/02/22

CITIZENSHIP AND RESIDENCY: SA Enquiries For Alternative Citizenship Up 40%.

As published on ewn.co.za, Tuesday 22 February, 2022.

CAPE TOWN - There's been an unprecedented 40% spike in enquiries from South Africans over the past year who are seeking alternative residence or citizenship.

This is according to leading international investment migration advisory firm, Henley & Partners.

The company has recorded an overall increase of 80% in enquiries globally, on the heels of an already record-breaking year in 2020.

Henley & Partners South Africa's Amanda Smit: "South Africa now takes fifth place in terms of the number of enquiries and applications we've received after nationals from India, the US, Russia and the UK,"

Smit said that wealthy investors were scrambling to diversify their domiciles at the same time as their investment portfolios in a bid to secure greater global access.

"I think that it's fair to say that the endless rounds of quarantine, lockdowns, remote work and virtual schooling and borders snapping shut and reopening at will have definitely convinced, even those investors from wealthy nations with premium passports of the benefits of alternative residency and or citizenship," Smit said.

Smit said that one of the most popular programmes for South Africans was the Mauritius residence programme, which allows foreign nationals to make a minimum real estate investment of $350,000 into the country and apply for a residence permit.

Successful applicants and their families are then granted full residence rights, including the right to live, work and retire on the island.