Real estate investment migration programmes that serve as a pathway to residence rights in another country are increasing in popularity among African investors, especially within South African.This is according to Amanda Smit, managing partner at Henley & Partners South Africa.

The company recorded an overall increase of 18% in enquiries from African citizens seeking alternative residence and citizenship over the past 12 months. Zimbabwe tops the list with an increase of 48% in enquiries compared to 2020, while South Africa saw the second-highest increase of 40% in enquiries.

 “Real estate–linked investment migration programmes have the additional advantages of enhancing your global mobility through multiple passports and expanding your personal access rights as a citizen or a resident of additional jurisdictions,” says Smit.

At present, the following countries are proving the most popular property investment destinations for immigration purposes among South Africans.

 Dominica, Caribbean Island Nations, offers the right to free movement and visa-free access to 144 destinations worldwide with a minimum investment donation of R1.6 million [$100,000] and a processing time of three months.

 The islands of St. Kitts and Nevis, Caribbean Island Nations offers air links to Europe and North America, pristine beaches and diverse culture with an investment of R2.4 million [$150,000] and a processing period of three-six months.

 Mauritius requires a minimum real estate investment of R5.6 million [$375,000] and there is between two and six months processing time. If successful, applicants and their families are granted full residence rights including the right to live, work and retire in Mauritius.

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Montenegro offers citizenship in Europe and access to the euro backed economy. Their citizenship by investment programme requires a minimum financial investment of R4 million [€250,000] and a donation of R3.2 million [€200,000]. One can expect a processing period between six to eight months for submission of the application to be approved.\

Portugal requires an investment of R3.2 million [€200,000] and a processing time of three to six months. As a full member of the EU, the residence allows for visa-free access to Europe’s Schengen Area and requires an average stay of just seven days a year in Portugal over the five years.

Source: BusinessTech

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