LONDON, July 4, 2021 / PRNewswire / – A London-A company whose head office specializes in assisting clients seeking a second nationality reported a spike in interest from North African applicants. Compared to last year, interest increased by around 72% in the first half of 2021 alone. Data was calculated from three countries in North Africa: Libya, Morocco and Algeria.
While Libya and Algeria has seen a steady increase this year, Morocco exceeded in interest. In 2021 so far, Moroccans accounted for well over half of Maghrebian requests for information regarding obtaining the second nationality, especially in the Caribbean, a region known as the birthplace of Citizenship by Investment (CBI) programs. Paul Singh, the director of CS Global Partners, said Moroccan investors are mainly looking to St Kitts and Nevis’ CBI program because of its vast experience spanning decades.
âIt’s fascinating to see these statistics because they show what people North Africa prioritize in their life. The second citizenship can open the doors to international trade, financial privacy and security of wealth, âSingh said.
âNorth African families also want to ensure that their children have the opportunity to study in the best schools in North America and Europe. Second nationality of Saint Kitts and Nevis gives successful applicants the right to apply for the country’s passport and visa-free access to more education centers around the world, âhe added.
The two-island nation pioneered the CBI concept in 1984 and is now recognized as a Platinum Standard brand within the industry. As part of a limited-time offer, until the end of 2021, a family of up to four people can obtain a second nationality for US $ 150,000 via a contribution to the Sustainable Growth Fund.
The option of funds under the CBI program is also the easiest route to citizenship. A 2020 report from the Financial Times‘ PWM magazine found that Saint 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, then allowing citizens to apply for their second passport – a separate process for CBI. This is possible through the expedited application process, available at an additional cost.
Applicants do not need to have had a previous connection to the country to obtain citizenship. However, they all have to pass a series of rigorous due diligence checks. If successful, they become full citizens, with the exception only of the right to vote. It is important to note that future generations may inherit the citizenship obtained by the CBI. Saint Kitts and Nevis offers visa-free and visa-on-arrival travel to nearly 160 destinations, with Foreign Minister Mark Brantley regularly establishing more visa waiver agreements.
[email protected], www.csglobalpartners.com
View original content: https://www.prnewswire.com/news-releases/uk-firm-reports-72-percent-increase-in-second-citizenship-interest-from-north-africa-301325238.html
SOURCE CS Global Partners