Dual citizenship means holding the rights of a citizen in more than one country. Specifically, you are a dual citizen if you are lawfully regarded as a citizen in two countries.
You can become a dual citizen through various processes – through birth, marriage, naturalisation, or investment. With the growing trend of African countries adjusting laws to accommodate the diaspora and families looking for an additional layer of security in uncertain times, the citizenship by investment industry has started to blossom on the continent.
This month, CS Global Partners participated in the Global Investment, Real Estate & Residency Show (GIRRS) 2021 to shed light on this mounting phenomenon among Africa’s wealthy.
In a webinar titled “Dual Citizenship – Unlimited Business Opportunities for Kenyans,” our Business Development Executive, Kumar Pratik, said that between 2019 and 2020, enquiries from Kenya increased by 116 percent.
Pratik also provided a step-by-step breakdown of the Citizenship by Investment process in the Caribbean and highlighted the advantages of belonging to more than one country.
“There has never been a better time for East Africans to invest in dual citizenship. The Caribbean provides you with increased mobility and opens doors to develop greater business opportunities,” he added.
CS Global Partner’s Business Development Manager Inga Wellings also took part in the webinar series and talked about the business benefits of second citizenship for Nigerians.
International entrepreneurs “are contending with fluctuating exchange rates volatile markets multiple time zones as well as economic and political changes. So, the last thing you need is another obstacle like travel restrictions when doing business when you are making deals in every corner of the world. You want to be able to travel across markets with little to no hustle,” Wellings said.
“Many wealthy interpreters opt for second citizenship as it… allows international travel, affording freedom of movement [to the] number of countries you can freely travel between without visa.”
Wellings also spoke about the Citizenship by Investment costs associated the some of the programmes.
Last but not least, CS Global Partners’ Jane Gordan chimed in on how dual nationality can be an insurance policy, especially for South Africans as political and economic unrest continues to rise in the region.
“South Africans need options to travel, to diversify wealth and to provide a safe environment for their families. A second citizenship in an insurance policy for your future,” Gordan said, “a plan B.”
Headquartered in the heart of London, with offices across the Middle East, Africa and Asia, CS Global Partners comprises of a passionate team of reputable specialists and lawyers. As authorised agents, we provide expert advice to investors looking to apply for second citizenship and advise you on which option is best for you and your family.
To get a free consultation, contact us at [email protected].