You Migh Also Like: Dominica Second Citizenship \u2013 Much More Than Global Mobility<\/em><\/a><\/p>\n Considering Africa\u2019s affluent upper and middle class and civil unrest becoming more prevalent due to socio-economic challenges, it comes as no surprise that Nigeria\u2019s high-net-worth individuals are keen to obtain second citizenship in a stable and safe country.<\/p>\n However, the real question that needs to be answered is: why are high-net-worth individuals and business people in Africa suddenly so interested in obtaining second passports through these citizenship by investment programs?<\/p>\n The biggest determinants swaying Nigerians and citizens all over Africa to apply for second citizenship are mainly:<\/p>\n Nigeria\u2019s socio-economic and political turmoil as a result of the End SARS movement against police brutality is the \u201cstraw that broke the camel\u2019s back\u201d, so to speak, in a string of geopolitical issues that stretches over many years and was due to boil over into civil unrest at any given point \u2013 with the matter coming to a head and drawing international attention to the country in October 2020.<\/p>\n This coupled with the ensuing and unprecedented damaging effects on the nation caused by the COVID-19 pandemic has caused a rush for golden visas and second passports among Nigeria\u2019s wealthy.<\/p>\n Don’t Miss: Citizenship by Investment Or Residency by Investment – Which is Best for You and Your Family?<\/em><\/a><\/p>\n Holding a second passport or residency in another country provides a Plan B for Nigerian investors and their families<\/strong> to escape the challenges of their own nation. It is invaluable to have the chance to move to an alternate place to live or reside during situations of war, political unrest, civil violence, economic downturns and natural disasters. In this increasingly unpredictable world, a second citizenship can bring comfort and peace of mind.<\/p>\n The ensuing and unprecedented damaging effects on the nation caused by the COVID-19 pandemic has caused a rush for golden visas and second passports in the African nation.<\/p><\/div>\n The Nigerian passport grants visa-free travel to only 54 of the 227 countries and territories worldwide \u2013 of which, many are fellow African nations like Ghana and Ethiopia. Having access to only 23.8% of the globe makes the Nigerian passport one of the lowest ranking in the world \u2013 especially when compared to its West African neighbours.<\/p>\n However, when paired with a second passport, Nigerians can obtain visa-free or visa-on-arrival access to over 120 countries and territories<\/strong>, including the more popular areas like the United Kingdom<\/a> and Schengen Zone. For instance, a Grenadian passport<\/a> grants unrestricted travel to over 144 countries and territories, while a St. Kitts and Nevis passport<\/a> will get investors into over 150 nations and one from Malta has access to over 180 countries worldwide.<\/p>\n Related Article: Plan A, Plan B, and Plan C; Why Everyone Needs A Second Citizenship<\/a><\/em><\/p>\n Global freedom of movement is a particularly attractive benefit for high-net-worth individuals and business people who enjoy or need to travel for business, education or leisure, as holding a more powerful passport saves time and money, as well as allows for more opportunities<\/strong>, both personal and professional.<\/p>\n Entrepreneurs and business people in Nigeria are severely limited when it comes to lucrative business and investment opportunities. As it stands, Nigerians only have access to 2.1% of the world\u2019s GDP. This, coupled with the ever-weakening Naira (currency of Nigeria), hinders them from various opportunities in the global market and restricts them from strategic moves that could grow their business into an international success.<\/p>\n A second passport obtained through a Caribbean or European citizenship by investment program<\/a> can grant access to key economic markets around the world, including the United Kingdom<\/a> and the European Economic Area (EEA). Grenada citizens, in particular, have the added opportunity of applying for an E-2 Investor Visa<\/a> in the United States of America<\/a>, as well as visa-free travel to China. Therefore, by holding a Grenada passport<\/a> alone, Nigerian investors gain access to two of the world\u2019s largest single economies<\/strong>. In total, individuals will have visa-free or visa-on-arrival access to 58.7% of the world\u2019s GDP.<\/p>\n Entrepreneurs and business people in Nigeria are severely limited when it comes to lucrative business and investment opportunities.<\/p><\/div>\n The wealthy work hard for their money and deserve to preserve it as effectively as possible. Most Citizenship by Investment Programs<\/a> offer advantageous tax policies that high-net-worth Nigerians find very appealing. Depending on the program, these tax benefits range from zero or low tax rates on assets and income<\/strong> to protecting wealth with financial privacy laws and shielding assets from inflation by storing them in a different country.<\/p>\n Nigeria is a beautiful, vibrant country. Unfortunately, its status as a developing country means it cannot provide its citizens with quality infrastructure and systems as much as it would like.<\/p>\n People Who Read This Article Also Read: Portugal or Spain – Which Golden Visa Program Should You Pick?<\/a><\/em><\/p>\n As the CEO and Founder of Savory & Partners, Jeremy Savory<\/a> notes, \u201cFor over a decade I\u2019ve been visiting Nigeria and I\u2019ve built many professional relationships that over time have become friendships. It\u2019s always a pleasure to visit.\u201d<\/p>\n Second citizenship allows an investor and his\/her family to access a better quality of life<\/strong>. The benefits of living in another country include world-class healthcare, top-tier educational facilities, robust infrastructure and public transport, as well as luxurious lodgings in attractive environments.<\/p>\n Holding a second passport or residency in another country provides a Plan B for Nigerian investors and their families.<\/p><\/div>\n Applications to any citizenship by investment program would be best advised to be done through a government-authorized agent. Such accreditation is bestowed through a rigorous verification process that can only give citizenship investors peace of mind.<\/p>\n Savory & Partners<\/a>, citizenship advisor, is one of those accredited agents, and for not just one but multiple governments where citizenship by investment is offered. Founded in 1797, the British government-authorized agency has evolved from pharmaceuticals to family assets and legacy protection through second citizenship or residence.<\/p>\n The company\u2019s professional, multinational staff is made up of expert advisors who have guided 1000s of clients including Nigerian investors to find and apply to the most suitable Citizenship by Investment Program for them.<\/p>\n If you have any questions, please feel free to email\u00a0Nigeria@savoryandpartners.com<\/a> and your enquiry will be answered.<\/p>\n <\/p>\nSafety & Security<\/strong><\/em><\/h3>\n
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Global Travel<\/strong><\/em><\/h3>\n
Business Opportunities<\/strong><\/em><\/h3>\n
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Tax Benefits<\/strong><\/em><\/h3>\n
Quality of Life<\/strong><\/em><\/h3>\n
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Where to get a Second Citizenship?<\/strong><\/em><\/h3>\n
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