A growing number of South Africans are looking to buy their way into foreign citizenship or residency.
This is according to global citizenship and residence advisory firm, Henley & Partners, who indicated that there was a 229% increase in the number of applications during 2018 compared to 2017.
Speaking to Fin24, Henley & Partners’ Amanda Smit said that most of the firm’s South African clients are usually male – although the firm has had a growing number of female individuals also applying for these programmes in the last couple of years.
She noted that each of these applicants have an average of one to three dependents.
“Our programmes are quite popular amongst parents wanting to give their children the best education in the world and also to ease of travel requirements,” Smit said.
She added that most South Africans are looking to get their second citizenship in Malta – with Cyprus and Moldova also named as popular options.
“About 45% of the applicants are self-employed, 45% employed and 10% non-economically active. Most (70%) are between 45 and 64 years old,” she said.
“Most applicants are from Gauteng (38%), followed closely by the Western Cape (37%).”