The countries where rich South Africans can ‘buy’ citizenship – starting from R1.8 million
Continued load shedding, crumbling service delivery, political uncertainty, and the recent passing of the NHI have hit South Africa in 2024, and many South Africans—especially those who can afford it—are looking elsewhere to live and raise a family.
The latest African Wealth Report for 2024 shows that South Africa has continued to bleed millionaires, with 400 wealthy individuals calling it quits on the country or losing their millionaire status in 2023 – adding to the thousands lost over the last decade.
The wealth report, published by international wealth advisory firm Henley & Partners in collaboration with global wealth intelligence partner New World Wealth, shows that South Africa had 37,400 high-net-worth individuals (HNWIs) at the end of 2023.
This is 400 fewer than the 37,800 recorded at the end of 2022 and down 11,300 from the 48,700 recorded at the end of 2013.
The report’s authors pointed to two main causes for the deterioration of wealth in South Africa: wealth destruction and emigration.
Additionally, the recently passed National Healthcare Insurance (NHI) Bill has caused jitters over the future of healthcare in the country and its quality, as many doctors are heading for the exit.
This could also be a factor that pushes wealthy South Africans out the door in the near future, and one of the vehicles these individuals can choose is citizenship by investment.
According to Henley & Partners, residence and citizenship by investment are increasingly becoming popular investment strategies for a wider group of investors.
This is due to the launch of attractive programs in more countries worldwide. Investors are looking to diversify their portfolios geographically while also gaining the added benefits of improved travel freedom and economic mobility.
This not only provides a safety net in uncertain times but also unlocks access to international business networks and diverse investment landscapes.
While the costs involved and the types of programmes vary considerably, the country that is ultimately right for you also depends on the size of your family, whether you want to leave South Africa permanently, the period required to stay in the applied country, and the turnaround time for your application.
Citizenship by investment often requires the most amount of investment than other avenues and, therefore, we looked at the cheapest way to live in another country – which is through residence by investment.
While the cheapest citizenships to buy are in the Caribbean islands of Antigua and Barbuda, Dominica, and St. Lucia, if a faster pace holds greater appeal, North Macedonia and Türkiye are the cheapest citizenship by investment options in Europe.
Considering this, BusinessTech looked at the cheapest destinations through residence by investment for HNWIs, as outlined by Henley & Partners, which are listed below with the various requirements needed.
St. Lucia
| Factors | |
|---|---|
| Relocation required | No |
| Family that may be included | Spouse, children under 31, siblings under 18, and parents aged 55 and over, as well as to add dependents after they have been granted citizenship. |
| Timeline | 3 to 4 months |
| Minimum investment amount | $100,000 |
| Minimum stay requirements | None. |
| Total | R1.8 million |
Antigua and Barbuda
| Factors | |
|---|---|
| Relocation required | No |
| Family that may be included | Spouse, dependent children under 31 (as well as their spouse and children), parents and grandparents aged 55 and over, and unmarried siblings of the main applicant and/or their spouse of any age, as well as to add dependents after they have been granted citizenship. |
| Timeline | 3 to 4 months |
| Minimum investment amount | $100,000* |
| Minimum stay requirements | Minimum of five days during the first five years of obtaining citizenship. |
| Total | R1.8 million |
Dominica
| Factors | |
|---|---|
| Relocation required | No |
| Family that may be included | Spouse, unmarried children under 31 who are fully dependent on the main applicant, and parents and grandparents aged 65 and older, as well as to add dependents after citizenship has been granted to the main applicant. |
| Timeline | 3 months |
| Minimum investment amount | $100,000* |
| Minimum stay requirements | None. |
| Total | R1.8 million |
St. Kitts and Nevis
| Factors | |
|---|---|
| Relocation required | No |
| Family that may be included | Ability to include a spouse, children under 26, and parents aged 65 and over, as well as to add dependents after citizenship has been granted to the main applicant. |
| Timeline | 4 months |
| Minimum investment amount | $400,000 |
| Minimum stay requirements | None |
| Total | Between R4.6 million and R6.4 million |
North Macedonia
| Factors | |
|---|---|
| Relocation required | No |
| Family that may be included | Citizenship is applicable to individuals aged 18 and older. Dependent children under 18 can apply for citizenship by descent once both or one of their parents has received citizenship. |
| Timeline | 2 to 5 months |
| Minimum investment amount | €200,000 (approximately $220,000) |
| Minimum stay requirements | None. |
| Total | R4 million |
Türkiye
| Factors | |
|---|---|
| Relocation required | No |
| Family that may be included | The main applicant may include their spouse, dependent children below the age of 18, and children of any age who are living with disabilities in their application. |
| Timeline | 3 to 5 months |
| Minimum investment amount | $400,000 in real estate or $500,000 into a Turkish bank account |
| Minimum stay requirements | The main applicant may include their spouse, dependent children under 18, and children of any age who are living with disabilities in their application. |
| Total | Between R7.3 million and R9.1 million |
Read: 8 most expensive countries for South Africans to visit right now
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