If you had millions in your account right now, what would you buy? Real estate? A brand new sports car? Clothes? Shoes? Well, rich Kenyans are now using their millions to buy citizenship in Europe and the Carribean islands.
Most rich Kenyans are buying citizenship in Europe and the Carribean islands because they are considered ‘safe havens’ for money. These countries allow foreigners to invest and have a favorable tax regime. For example, Kenyans can get Cyprus citizenship if they invest at least $2.2 million into the economy. In addition, it’s also a good idea to have somewhere to escape to for a vacation or in case of political and economic tensions.
Having the citizenship of several countries is the newest thing among Kenya’s super rich. This is partly because they have moved from buying things to looking at ways to make life easier and more comfortable for themselves. It’s no longer weird to have two or three passports from different countries, as long as you can afford it.
Many wealthy Africans are also looking for a second home and other business opportunities in Europe. Top markets include Kenya, South Africa, Nigeria, Ivory Coast, Morocco and Egypt. The preferred countries for the rich are Malta, Portugal, Antigua, Barbuda and Montenegro.
Selling citizenship has become big business, especially for small Caribbean islands that are looking for people to come and invest. So if you have some millions just lying around, why not buy your spot in another country? You'll get a good deal!