NEWS PROVIDED BY CS Global Partners
Jul 04, 2021,
LONDON, July 4, 2021 /PRNewswire/ — A London-headquartered firm that specialises in providing assistance to clients seeking second citizenship has reported a spike in interest from North African applicants. Compared to last year, interest has grown approximately 72 percent in the first half of 2021 alone. The data was calculated from three countries in North Africa: Libya, Morocco and Algeria.
While Libya and Algeria saw steady increases this year, Morocco surpassed in interest. In 2021 so far, Moroccans accounted for well over half the North African inquiries regarding the attainment of second citizenship, especially in the Caribbean, a region known as the cradle of Citizenship by Investment (CBI) programmes. Paul Singh, the Director of CS Global Partners, said that Moroccan investors primarily look to St Kitts and Nevis’ CBI programme because of its vast experience spanning several decades.
“It’s fascinating to see these statistics because they show what the people of North Africa prioritise in their lives. Second citizenship can open doors to international business, financial privacy and wealth security,” Singh said.
“North African families also want to ensure their children have the opportunity to study in the best schools in North America and Europe. Second citizenship from St Kitts and Nevis gives successful applicants the rights to apply for the nation’s passport and gain visa-free access to more education hubs around the world,” he added.
The twin-island nation pioneered the concept of CBI in 1984 and is now recognised as a Platinum Standard brand within the industry. Under a limited-time offer, until the end of 2021, a family of up to four can obtain second citizenship for US$150,000 via a contribution to the Sustainable Growth Fund.
The fund option under the CBI Programme is also the most straightforward route to citizenship. A 2020 report from the Financial Times’ PWM magazine found that St Kitts and Nevis offers the fastest citizenship timeline in the world. The Caribbean nation is the only country that can provide citizenship within 60 days, allowing citizens to then apply for their second passport – a separate process to CBI. This is possible through the Accelerated Application Process, available at an additional cost.
Applicants need not have had any previous connection to the country to obtain citizenship. However, they must all pass a series of rigorous due diligence checks. If successful, they become full-fledged citizens, except only for the right to vote. Importantly, future generations can inherit CBI-obtained citizenship. St Kitts and Nevis offer visa-free and visa-on-arrival travel to nearly 160 destinations, with Foreign Minister Mark Brantley regularly establishing more visa waiver agreements.
SOURCE CS Global Partners