In September 2021, CS Global Partners participated in three Global Investment Real Estate and Residence Show (GIRRS) events that took place virtually in several cities in the Middle East. Our firm explored how many high-net-worth individuals around the region are securing their business, wealth and family futures in uncertain times.
Natasha Jones, a Legal Assistant at CS Global Partners, candidly spoke about citizenship by investment (CBI) during a webinar titles “Business, Security, and Legacy: Opportunity Awaits MENA with Dual Citizenship.” Jones shed light on the benefits second citizenship offers businesses, like greater mobility with increased visa-free travel, access to new industries and business-friendly environments. She also detailed security advantages of CBI, like access to a country that is both economically and socially stable with a robust health care system.
Most importantly, she highlighted how a legacy could be established through the facilitation of family reunification and the ability to pass citizenship to descendants. Moreover, she detailed the application requirements and citizenship process of the Commonwealth of Dominica and St Kitts and Nevis, named the best CBI programmes of 2021 by the Financial Times’ PWM magazine.
Inga Wellings, CS Global Partners’ Business Development Manager based in Dubai, in another webinar titled “Dual Citizenship as a 21st Century Wealth Protection Policy.” talked about how many business people are using second citizenship to protect their wealth. Wellings spoke about how entrepreneurs, investors, and business owners carve a path to foreign investment opportunities and set up businesses in growing markets that can yield greater profits with dual citizenship.
She also specified second citizenship’s different wealth protection aspects like protection against currency fluctuations, favourable tax regimes, and expanding into new markets.
When sharing the provisions of the CBI programmes in the Caribbean, she said, “neither Dominica and St Kitts and Nevis require applicants to reside in or travel to the country either before or after obtaining citizenship.”
“This significantly reduces the burden for busy investors,” she added.
Finally, Yasmin Abouzouhour, CS Global Partners’ Legal Officer, hosted the webinar titled “The most trusted ways families in the middle east are securing their future.”
“By providing you with a second citizenship, CBI programmes offer greater security for applicants. The vast number of benefits allow you and your family to take control of your future by gaining further opportunities outside of the Middle East region,” Abouzouhour said.
These opportunities include asset diversification, visa-free travel, political and economic stability and exploring alternative lifestyle choices.