Why more and more Africans buy a second passport and how to make money on this trend

It is due to the fact, that the number of governments offering such opportunity has tripled in the last couple of years and their fees have gone down significantly. Passports are becoming a commodity, the market of second citizenships is already estimated at $20 Billion annually and still growing and presents huge business opportunities for entrepreneurial people and those looking for part-time opportunities.

Reasons for buying a second passport

1. Visa-free travel

Year to year, statistics keep showing that African travelers have it hard and that African passports keep losing their prestige points in terms of freedom of movement. Nigerians, for example, can only travel to 23 countries without having to worry about visas. This, of course, severely restricts the access to main global economies — China, India, the US, and the UK, and it’s only logical that forward-thinking high net worth Nigerians and other nationalities are looking for a decent Plan B, preferably without having to wait for visas at embassies or fulfill an impossible list of requirements and obligations to chase a business or education opportunity.

2. Safe harbor for unsafe times

Let’s face it, stability is usually an illusion and we live in very dynamic times when it comes to governments, economy and power shifts. An experienced businessman and generally reasonable thinking understand the necessity of having a plan B in case for any reason (political, business, personal) the situation in our home country becomes less safe.

3.Tax advantages

Many of the countries offering passports (like the Carribean countries or Malta, Cyprus) present much more welcoming tax levels for entrepreneurs and professionals, which can be a significant improvement for the client’s financials.

4.Education for Children

Countries in the European Union, as well as the USA or Canada, offer a very good quality education system which undoubtedly can provide a better start in life for our children.

5. Bonus on Real Investments

Many wealthy individuals put their money into Real Estates as a way of capital allocation, savings and/or investment. If they chose to do it in any of the countries offering a second passport, they will get citizenship as a bonus to the initial investment return.

6.Prestige

Second passport has become a new trend among wealthy individuals. Another passport has become a status symbol, many times more useful in life than sports cars, yachts and designer clothes.

Why more and more Africans buy a second passport and how to make money on this trend Pulse Nigeria

Why more and more Governments offer their country’s passports by investment

Countries offering CBIs (CItizenship by Investment Programs) are usually small countries (Saint Kitts and Nevis, Dominica, Vanuatu, Cyprus, Malta) with stable diplomacy and very good relationships with the rest of the world. This is why their passports are strong and allow visa-free travel to so many countries. At the same time, they have small economies and direct investments from wealthy individuals obtaining their passports are a significant help to their economies.

Why more and more Africans buy a second passport and how to make money on this trend Pulse Nigeria

Citizenship by investment: easier, cheaper and faster than you’d think

I’ve already discussed the reason behind the second passport becoming more and more affordable, mainly due to more countries offering such a possibility. Also, the paperwork related to this is much less complicated than many people expect. One could say that the most complicated part is choosing the country. The formalities include a visit to the doctor, the bank, the notary, the sworn translator, couple signatures on the application prepared by an advisory firm and that’s it. The whole process is pretty straightforward and if anyone has ever opened an offshore bank account or applied for a visa then there won’t be any surprises. The whole process, including collecting the documents up to getting a new passport, takes, depending on the country from 3 to 5 months.

Why more and more Africans buy a second passport and how to make money on this trend Pulse Nigeria

Citizenship and Residency by Investment: Booming industry

The Citizenship by Investment (CIP) market is estimated at $ 20 Billion annually, which is twice as big as the global private yachts market. It’s growing by two digits in percentage every year and it’s just the beginning. Migronis Citizenship is a specialist firm founded in 2010 and offices in 10 countries, offering wealthy individuals services regarding obtaining citizenship by investment in the EU, USA and Caribbean countries.

In recent years, we have observed a tremendous increase in demand for our services in the African markets. High net worth individuals, wealthy businessmen, and professionals show more and more interest in getting a 2nd passport for such reasons as visa-free travel, lower taxes, safety, better education for children, prestige.

In order to support our dynamic growth in Africa, we are looking for ambassadors that will promote our services in return for a referral fee. This is a part-time partnership proposal for individuals with a network of wealthy potential clients. The referral fees vary between $ 5,000 and $ 20,000 for a referred client.

If you are interested in this opportunity, visit: https://migronis-citizenship.com/partnership

and leave your contact details to arrange a conversation or take part in the webinar for potential ambassadors.

This is a featured post

Why more and more Africans buy a second passport and how to make money on this trend

Reasons for buying a second passport

Why more and more Governments offer their country’s passports by investment

Citizenship by investment: easier, cheaper and faster than you’d think

Citizenship and Residency by Investment: Booming industry

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