Cyprus Citizenship Scheme Attracts South African Investors

13/07/2015
Cyprus is among the six international locations to which South African high net worth individuals have begun to migrate, according to a new international report. Indeed, a new study from LIO Global and New World Wealth has revealed that South Africa has seen a net outflow of 8,000 dollar millionaires over the last fifteen years. 

The most popular destinations to which South African HNWIs relocate are Cyprus, Australia, the UK, Mauritius, the USA and Canada.

Despite the fact that Australia, the UK, the USA and Canada offer many advantages as developed nations, many investors are now looking towards the EU, meaning that the residency and citizenship programmes of Cyprus and Mauritius are particularly appealing. “The majority of investors are typically looking towards the EU,” said Nadia Read, Head of LIO Global. 

Many HNWI obtain second citizenship to improve their mobility and access to other markets, she continued, explaining that they are also looking for security and the protection of their wealth. “Cyprus and Malta, in particular, are very popular as they offer direct citizenship without long waiting or residence periods. Portugal’s Golden Residence Visa, as well as the Hungarian Residence Bond programme, have also seen significant interest,” she stressed.

You can find more information about the European Cyprus Citizenship Program here

 


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