Sunday, December 6, 2020

Kenya's elite, like wealthy Nigerians, buying Caribbean passports

With a growing number of Western Countries including the US, UK and the European Union tightening their immigration and visa polices, citizens of African countries are finding it harder to travel abroad.

QUARTZ

In the 12 months to November, Kenya saw a growth in enquiries about citizenship by investment of 116%

Kenya’s wealthy elite have been quietly taking advantage of the CBI programs particularly with the small Caribbean island nations of Dominica and St. Kitts & Nevis

Currently, Kenyan nationals can access just over 65 countries without a visa, mostly in Africa and Asia. Traveling with a Kenyan passport requires a visa prior to travel with 136 countries.

Ironically, the Kenyan government has also looked at selling citizenship boost state coffers. Under Kenya’s proposed model, investors would get permanent residency on fulfilling the requirements including a reported minimum investment threshold of approximately $200,000.

Successful applicants will automatically be eligible for Kenyan citizenship or passport after two to three years. In contrast, the average turnaround among the major players in this space is six to 18 months.

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