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A record number of South Africans have applied for a second passport â€` here’s where they’re going

Source: Biztech, 15/03/2019


This was underpinned by a record number of enquiries received in
October 2018 â€` equating to a 364% increase in growth year-on-year.
“South African high net worth (HNW) clients who seek our professional
services are not always looking to relocate, but rather invest in a
Plan B for future proofing,” Henley & Partners said.
It added that these citizens typically recognise that dual citizenship
or residency provides more benefits and privileges for them and their
families including ease of travel, security for the future and
expansion of business and banking etc.
“There is a very high demand for our European residency programs e.g
Portugal and Greece and citizenship programs from the Caribbean e.g
Malta and Cyprus,” it said.
“Most of our clients are usually male even though we have seen growth
in the number of female individuals also applying for these programs
in the last couple of years.
“Our programs are quite popular amongst parents wanting to give their
children the best education in the world and also to ease of travel
requirements seeing that the South African passport has access to only
102 destinations and this number excludes the world biggest economies
such as the US, UK, Europe Schengen area, Canada to mention just a few.”
Other interesting statistics include:
• 85% of the applicants were male;
• 45% of the applicants were self-employed, 45% were employed, and 10%
were non-economically active;
• 20% of these South Africans were aged between 25-44, while 70% were
aged between 45-64.
• Gauteng had the most applicants (38%), closely followed by the
Western Cape (37%), and KZN (10%).
• Just 45% of these applicants were white South Africans.
Most popular countries
According to Henley & Partners, the following countries were the most
popular for second passports.
Malta
With this program, you get the right to live, work and study in any of
the 28 EU countries and Switzerland.
It also allows you to travel visa-free to 182 countries â€` including EU
and Canada.
“Malta has an excellent climate, very friendly people, and it is a
stable and safe country with a very low crime rate,” Henley & Partners
said.
“Telecommunications, postal services, banking, hospitals and health
services, as well as all other important public services, are and of a
very high standard.
It added that major industries include high-tech manufacturing, food
and beverages, tourism and international financial services.
“For entrepreneurs, Malta has many existing strengths such as its
strategic location, excellent international trade relations, a highly
qualified English-speaking workforce,”Henley & Partners said.
“The property market in Malta offers strong opportunities for
investors due to a decline in the number of new properties added to
the real estate market each year. With the low supply of new
properties, demand is focused on existing properties, creating an
increase in price/value for those properties.
Antigua & Barbuda
An Antigua and Barbuda passport provides visa-free access to
approximately 150 destinations including the UK, Europe’s Schengen
area, Singapore and Hong Kong”.
The passport also grants full citizenship to the applicant and family.
“Antigua and Barbuda is a member of the Commonwealth. This entitles
citizens to certain privileges in the UK and other member states,
“Henley & Partners said.
“Antigua and Barbuda is an attractive place to live or to own a second
home, with excellent air links to North America and Europe.”
Portugal
A Portuguese passport offers visa-free travel within the Schengen area.
Passport-holders are eligible to apply for citizenship after five
years as a legal resident, while also keeping other citizenships.
According to Henley & Partners, Portugal stands out for its excellent
international schools, universities, and hospitals.
It also has a high quality of life and low crime rate.
Moldova
Launched in the second half of 2018, the Moldova
Citizenship-by-Investment (MCBI) program is being developed by the
Government of Moldova in partnership with its service provider Henley
& Partners and the Moldovan Investment Company.
The program offers visa-free access to 121 destinations around the
world, including Russia, Turkey and the countries in Europe’s Schengen
Area.
“This program gives investors citizenship in a country that has a
continental climate, a world-class wine industry, and picturesque,
varied terrain, including forests and rocky hills,”Henley & Partners said.
“A reasonable contribution amount and a highly efficient application
process (making this the most affordable CBI program to date),”it said.
“Dependent children up to 29 years of age and parents (of either the
main applicant or the spouse) from 55 years of age can be included and
citizenship transferable to future generations without restrictions.”


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