At a time when African buyers are pursuing world alternatives to enhance their backside traces and ship larger worth to their shareholders, their intentions are more and more annoyed by the restricted entry of the Nigerian passport in regard to world journey.
Among different West-African passports, the Nigerian passport is restricted in its attain to solely 54 visa-free locations, a lot of whom are different African international locations like Ethiopia. This modest quantity falls quick subsequent to that of Ghana, Cameroon and even Côte d’Ivoire, who’ve visa-free entry to 73, 61 and 67 locations respectively.
But it will get worse– when the Nigerian passport’s visa-free listings are seen by the lens of La Vida’s Passport Value Report which mixes metrics of GDP and worldwide journey reputation to determine the true worth of every nation’s passport, it makes for even grimmer viewing because the entry worth is barely a meagre 2.1% of the world’s GDP and three.1% of the world’s worldwide journey reputation.
For Africa’s most populous nation making ready itself for a future with out oil by main the continental cost to export know-how and expertise globally, these numbers are merely unacceptable.
Global Opportunities lie in wait, but stay gated by visa-restrictions.
One occasion of the myriad alternatives that exist past the continent for Nigerian enterprise executives and buttresses the necessity for world journey is remittance. According to world Audit Firm, PWC, there are an estimated 15 million Nigerians dwelling within the diaspora whose remittance is projected to hit $34.8bn in 2023 with 40% of those remittances coming from 5 European international locations alone.
This presents one of many best alternatives to arrange banking and know-how infrastructure throughout the EU to assist extra Nigerians and Africans ship a reimbursement dwelling, which even at a modest 0.1% margin might add round $17m in income to their backside line.
To obtain this, nevertheless, executives would wish to jet out and in of Europe to arrange, conduct enterprise and oversee operations. But the constraints of the Nigerian passport imply they are going to require visa approvals to journey, which can not solely delay the velocity of execution but additionally deliver with it the potential for their requests being outrightly denied.
Enter the necessity for a second passport and visa-free journey by Citizenship By Investment Programmes.
The Case For A Powerful Second Passport
As African international locations grapple with insecurity, inflation and forex devaluation, the necessity for second citizenships have by no means been extra obvious, particularly as a ‘Plan B’ to hedge in opposition to no matter could come. And because the continent’s prosperous center class have gotten wealthier, their wants are evolving, from world enterprise mobility, higher visa-free journey to high-quality schooling alternatives overseas for his or her kids.
It is at this juncture that the chance supplied by La Vida Golden Visas to accumulate Grenadian citizenship by funding within the soon-to-be-completed Kimpton Kawana Bay Resort serves to transcend this current hole and supply the much-needed hedge African HNWIs and executives have to develop and safeguard their earnings, companies and households.
The Grenadian Passport is an instantaneous value-add for Africans
Upon buying Grenada’s lifetime citizenship, the mixed worth for the Nigerian passport grows to 58.7% of the world’s GDP; with the Grenadian passport granting visa-free entry to over 163 international locations and territories together with the UK, EU Schengen zone and uniquely China and Russia. At as soon as, African HNWIs and main execs achieve unrestricted entry to the international locations on the forefront of world growth.
“Grenada’s Citizenship by Investment (CBI) programme offers several added attractions that many of its competitor countries do not”, says Chief Executive Officer of La Vida Golden Visas, Paul Williams, in a latest interview. “The application takes only 60-90 days, has low family fees, and no interview, education, language test or management experience is required. There is no residency requirement and dual citizenship is permitted as well. Grenada also does not tax worldwide income, wealth, gift, inheritance or capital gains- which make it more attractive to business elites”.
Obtaining Grenadian Citizenship: Kimpton Kawana Bay Resort CBI
Grenadian citizenship will be obtained by investing in Government-approved actual property at a minimal of $220,000, as is the case with title deeded studios within the island’s prime venture—Kimpton Kawana Bay Resort, the brand new beachfront 5-star luxurious resort at present underneath building in Grenada by True Blue Developments—an organization with a powerful 20-year file in growth.
“The resort, which is 79% sold out, is ideally positioned on Grand Anse Beach, voted by CNN and Condé Nast Traveller as one of the world’s best beaches. The hotel will feature an infinity-edge pool overlooking the turquoise Caribbean Sea, state-of-the-art gym and spa facilities, exquisite fine dining restaurant, roof-top bar, beach bar, lounge with terrace, and water sports facilities,” says Tom Scott, Managing Director of Kimpton Kawana Bay.
The resort, heralded by Forbes as some of the anticipated luxurious openings on the earth is about to open in 2022 and can come underneath the operation of the internationally recognised resort model—Kimpton Hotels & Restaurants, a part of the InterContinental Hotels Group, one of many largest on the earth.
The nature of the actual property funding additionally permits for private lodging utilization for as much as 2 weeks, whereas producing a projected rental earnings of 3-5% by the clear revenue-sharing mannequin. The funding additionally offers the choice of recouping the preliminary funding after 5 years with out impact to the acquired Grenadian citizenship.
In additional offering world entry, an funding in Kimpton Kawana Bay Resort would grant residents entry to dwell within the UK for as much as six months yearly, as Grenada kinds part of the commonwealth. Another peculiarity is the E-2 Visa choice, which is a secondary utility open to Grenadian residents who wish to dwell and work within the US.
Africa’s Battle-Ready Investors are lastly unleashed
At a time when African buyers have their sights firmly skilled on the alternatives current past the borders of the continent in the hunt for progress and starring roles in shaping the current and future of world enterprise, know-how, medication and so forth, Kimpton Kawana Bay is finely positioned because the bridge between hopeful thought and ground-breaking actuality.
For as soon as, African buyers are lastly geared up for enlargement and world domination. The remainder of the world higher take discover.
To get began, contact La Vida Golden Visas for extra info and counselling.