{"id":697291,"date":"2023-06-25T15:00:00","date_gmt":"2023-06-25T13:00:00","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=697291"},"modified":"2023-06-25T09:28:05","modified_gmt":"2023-06-25T07:28:05","slug":"the-cheapest-and-most-expensive-countries-where-south-africans-can-buy-citizenship","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/wealth\/697291\/the-cheapest-and-most-expensive-countries-where-south-africans-can-buy-citizenship\/","title":{"rendered":"The countries where South Africans can buy citizenship – and how much it costs"},"content":{"rendered":"\n

Countries in Europe, the Middle East and the Caribbean offer programmes where wealthy South Africans can buy citizenship, albeit for a hefty investment. <\/p>\n\n\n\n

South Africa has recently seen a widespread migration of wealth, with the economy coming to a standstill due to high-interest rates, inflation and load shedding. <\/p>\n\n\n\n

According to the Henley and Partners and New World Wealth’s Wealth Migration Report for 2023, South Africa lost 400 high-net-worth individuals (HNWIs) – those worth more than USD 1 million – in 2022 to emigration. <\/p>\n\n\n\n

It added that a further 500 HNWIs are expected to leave the nation in 2023. <\/p>\n\n\n\n

\u201cMillionaire migration figures can be a telling real-time barometer for the health of an economy as wealthy people are extremely mobile and they, therefore, tend to be the first to move,\u201d the report said.<\/p>\n\n\n\n

Amidst the migration of wealthy South Africans out of the country, BusinessTech decided to compare the costs of the 10 countries that offer citizenship by investment. <\/p>\n\n\n\n

There used to be 11 countries that offered citizenship via investment, but Montenegro ended its programme on 31 December 2022. <\/p>\n\n\n\n

In addition, although far more countries offer residency via investment, citizenship by investment programmes entitles investors to the same rights and privileges offered to ordinary citizens. <\/p>\n\n\n\n

Currently, the most expensive citizenship-by-investment program is in Austria. <\/p>\n\n\n\n

Although no exact figure is provided for the Austrian citizenship by investment programme, experts at Henley and Partners told BusinessTech that it would be more expensive than the second-most expensive programme in Malta. <\/p>\n\n\n\n

Malta’s programme would set a South African back just under R15 million, however, Henley and Partners said that it Austria is the premier citizenship by investment programme. <\/p>\n\n\n\n

To enter the Austrian programme, the applicant must invest actively in the Austrian economy, such as a joint venture or direct investment in a business that creates jobs and generates new export sales – the direct investment must be significant. <\/p>\n\n\n\n

Passive investments in government bonds or real estate will not qualify for the programme. <\/p>\n\n\n\n

On the other end of the scale, buying citizenship on the Caribbean island nations of St. Lucia and Dominica would cost a South African just under R2 million currently. <\/p>\n\n\n\n

Below are the 10 countries that offer citizenship by investment programmes: <\/p>\n\n\n\n

Country <\/strong><\/td>Price in currency<\/strong><\/td><\/tr>
Austria, Europe <\/td>> EUR 738 000 (R14 600 000)<\/td><\/tr>
Malta, Europe<\/td>EUR 738 000 (R14 600 000)<\/td><\/tr>
Jordan, Middle East<\/td>USD 750,000 (R13,700,000)<\/td><\/tr>
Turkey, Europe<\/td>USD 400,000 (R7,300,000)<\/td><\/tr>
North Macedonia, Europe <\/td> EUR 200,000 (R4 million)<\/td><\/tr>
Grenada, Caribbean <\/td>USD 150,000 (R2,700,000)<\/td><\/tr>
St. Kitts and Nevis, Caribbean <\/td>USD 125,000 (R2,250,000)<\/td><\/tr>
Antigua and Barbuda, Caribbean <\/td>USD 100,000 (R1,800,000)<\/td><\/tr>
Dominica, Caribbean <\/td> USD 100,000 (R1,800,000)<\/td><\/tr>
St. Lucia, Caribbean <\/td>USD 100,000 (R1,800,000)<\/td><\/tr><\/tbody><\/table><\/div><\/figure>\n\n\n\n
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Austria, Europe <\/strong><\/p>\n\n\n\n