South africans applying for second citizenship in foreign citizenship has increased by 229%, according to global citizenship advisory firm, Henley & Partners.
“Most of our clients were not looking to emigrate immediately, they are looking for an alternative, for an option, for if and when,” says Amanda Smit, head of Henley & Partners in east, central, and southern Africa.
Further there has been 143% year-on-year increase in enquiries about citizenship-by-investment in between January and August
The most preferred countries for south african clients with citizenship or residency schemes mostly in Malta, Cyprus, Moldova, and Portugal.
As of Aug 2019, a total 259 South africans have invested in property in Portugal for golden visa. Some 37 South african families have invested £2 million in UK tier1 investor visas as of 2018 since its inception
Moldova is a new passport program scheduled to open by Oct 2018, is the cheapest requiring 100,000 euros one time contribution for citizenship.
According to survey by Henley in 2018, 10% of those looking for a second passport are retired, and about half the rest are self-employed 80% are older than 45, and 85% are men. There has been increasing interest in Indians living in South Africa.
South Africa has legalized dual citizenship but requires permission before acquiring foreign nationality.
Currently south african passport holders require visas to visit United Kingdom, EU Schengen countries, Canada and United States. But, The South African Government recently has finalized several visa waiver agreement with number of countries such as
- Africa: Algeria, Sao Tone, Egypt, Morocco, Tunisia, Ghana
- Middle East: Saudi Arabia, UAE, Qatar, Palestine, Iran, Lebanon, Bahrain, Oman, Kuwait
- Caribbean: Cuba
Gigaba says negotiations are being finalized on #Visaregulations to conclude Visa Waiver Agreements for ordinary passport holder for countries like Algeria,Egypt, Saudi Arabia State of Palestine and Cuba among others pic.twitter.com/AFZ1mSmvXo
— SA Gov News (@SAgovnews) September 25, 2018
Source: Business Insider
