In the past it has been challenging for many Africans to obtain second citizenships because of government restrictions, lack of capital, and restricted access to foreign markets & investment opportunities. Some countries, such as the Democractic Republic of Congo, Ethiopia and Tanzania go so far as to forbid their citizens from having dual citizenship.
Citizens of Nigeria and South Africa, however, now have incredible opportunities to pursue second citizenships and investors have begun to embrace citizenship by investment programs as a way of obtaining global mobility, visa-free travel, and relief from high taxation.
Advantages of Second Citizenship
African nationals have many reasons to seek second citizenship, and interest in citizenship by investment programs has skyrocketed in recent months. Wealthy African investors have begun to realize that even with their wealth and buying power, they are limited by their passport. Second citizenship provides access to international markets and broadens opportunities to create lasting, generational benefits for families.
Investors from Nigeria and South Africa have recently shown increased interest in Caribbean citizenships, with particular focus in Grenada. The advantages in Grenada are clear: it is the only country in the Caribbean that provides access to the United States. Grenadian citizens can live and work in the US, which opens incredible opportunities for investors to access US business opportunities and secure the best education for their children.
Benefits of Grenada citizenship include:
Advantageous tax laws. Grenada has no capital gains, inheritance, income or wealth tax on worldwide income or assets. E2 visa holders can also reside in the US for 120 days without being subject to worldwide income taxation.
Global mobility. A Grenada passport offers superior global mobility, and unlocks visa-free travel to over 130 countries including China, UK, Russia and Schengen Territories.
Access to the United States. Grenada citizens can apply for the US E-2 visa, which allows the investor and his family to live and work in the United States. This key advantage is only available to Grenadian citizens, and is not offered through any other Caribbean citizenship by investment program.
Africans can access the US E2 visa through Grenada citizenship
Second citizenships offer numerous monetary and social benefits, and give Africans the opportunity to travel around the world without restriction. While those advantages are certainly important, the most sought after business and social opportunities lie in the United States. Investors are largely interested in accessing key American markets and business opportunities, and obtaining visas to enter the United States has become increasingly difficult, if not impossible for some.
That is why Grenada has such a key advantage over other countries—it is the only Caribbean nation with an E2 treaty with the United States. This privileged status allows Grenadian citizens to apply for the US E2 visa, which grants individuals and their families the ability to live and work in the United States. Children of the investor also receive access to the top public schools in the US.
There are some additional requirements (along with citizenship in Grenada) that must be met to receive an E2 visa:
- The investor must invest a substantial sum of money in an approved and legitimate US business.
- The investor must show that they are seeking travel and residency privileges in the US for the purpose of overseeing and directing the approved business enterprise.
There is no minimum investment required to participate in an E2 visa program, as long as the investment is sufficient to establish and operate a profitable business in the US. Perhaps most importantly, the E2 visa can be renewed an unlimited number of times.
Africans who have sights on pathways to the United States should look no further than Grenada Citizenship by Investment and the E2 visa.
Africans should be wary of second citizenship scams
Increased interest in Caribbean citizenships has led to a rise in citizenship by investment scams. Unscrupulous firms target African investors with claims that they offer citizenship by investment programs in Grenada and other Caribbean countries, but in fact have not delivered on their projects and left investors waiting years for results.
It’s critically important that investors carefully examine citizenship by investment programs to ensure that the firm has completed projects successfully and on time. If the firm cannot prove this, do not invest! Without a completed project, you will not be able to receive the benefits of your investment and second citizenship.
Range Developments is the only developer in the Caribbean to have successfully completed two citizenship by investment projects: Park Hyatt St. Kitts and The Cabrits Resort & Spa Kempinski in Dominica. Our third project, Six Senses La Sagesse in Grenada, is now open to investors.
Our track record of success is a very important distinction in the region, because we are the only firm in the Caribbean that can definitively say that we have delivered results to our investor clients. Our citizenship by investment programs are expertly planned and executed.
How to apply for citizenship in Grenada or other Caribbean countries
We have taken great care to ensure that the process is streamlined and easy for our clients to understand. First, we will discuss your investment and citizenship goals. Our expert citizenship by investment consultants will then assess your budget and discuss all available options in Grenada, St. Kitts & Nevis or Dominica. Once you have chosen a CBI program, we will work with local governments to process your application and payment, and walk with you through closing and delivery of your passports.
Grenada is our most sought-after destination and is offered at a much more affordable rate than other citizenship by investment programs. Investments for citizenship in Grenada begin at $220,000 USD for a family of four.
For more information about Grenada citizenship by investment, or to learn about other investment opportunities in the Caribbean, contact our expert advisors at the link below.