Little Known Islands Where Kenyan Billionaires Are Buying Citizenship

  • The Coastline of one of the Cayman Islands
    The Coastline of one of the Cayman Islands.
    File
  • Wealthy Kenyans have been exploring ways of acquiring second homes and this has seen them turn their eyes to some little known islands and countries where luxury and good quality of life are the order of the day.

    The elites have enlisted services of companies which help them look into ways they can acquire citizenships in those countries through investment programs.

    Investment programs hand these Kenyans the privilege of being citizens by just pumping money into the country's economy. In some cases, they are exempted from paying certain taxes and can visit multiple countries visa-free. 

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    The Dominica Republic in the Carribean Island
    File

    1. Dominica

    This Caribbean country presents a luxurious lifestyle fused with accessibility which appeals to many wealthy Kenyans. The country is attractive to wealthy Kenyans because Dominica's CBI program is one of the least expensive in the Caribbean. Rich Kenyans can obtain citizenship by contributing Ksh11,875,000 to the state fund or purchasing real estate for Ksh23,750,000.

    Wealthy Kenyans are attracted to the country by incentives such as the opportunity to return their money after three years by selling their real estate investment.

    They are also given the option to include close kin in the citizenship application, such as their spouses, children, parents and siblings.

    As Dominica citizens, they can travel to 144 countries without visas and also enjoy visa-free destinations such as the UK, the Schengen countries, China, Hong Kong and Singapore.

    2. St Kitts and Nevis

    Wealthy Kenyans part with as much as Ksh35.4 million in investment to be granted citizenship in this Caribbean country. A St Kitts and Nevis passport allows visa-free or visa-on-arrival travel to 157 destinations including Hong Kong, Russia, Singapore, the UK, and Europe’s Schengen Area.

    They also secure citizenship for their children who are under 31 years through the country's citizenship-by-descent program. They are also allowed to include their spouses as well as their dependents after they have been granted citizenship.

    There are no restrictions on dual citizenship in St Kitts and Nevis.

    3. Malta

    This is one of the most attractive countries to the rich Kenyans since the country offers outstanding services such as buying a home, it also grants full citizenship for life which can be passed on to future generations by descent.

    Kenyan-Maltese citizens are also allowed full access to Malta investment opportunities and throughout the European Union. 

    Wealthy Kenyans part with up to Ksh98 million and are also required to make a philanthropic contribution of Ksh1 million as well as rent a home for Ksh2 million or buy one for at least Ksh92 million.

    4. Antigua and Barbuda

    This Caribbean Island - which draws millions of wanderers annually – has become one of the most sought-after citizenship by investment destinations by wealthy Kenyans.

    The citizenship by investment program was initiated by the Antigua and Barbuda government to expand its economy. 

    Investors like the country because the process of acquiring citizenship is not tedious compared to other countries. All they have to do is make an investment and the passport will be handed to them within 4 months.

    Rich Kenyans who acquire this citizenship can travel visa-free or get visa-on-arrival access in more than 150 countries. 

    Wealthy Kenyans invest Ksh11,855,000 in the National Development Fund Contribution or a government-approved property.

    Alternatively, they can invest Ksh47,420,000 in pre-approved property acquisition, which will get them and their family Antigua and Barbuda citizenship and passports.

    "Real estate must be purchased with a minimum value of Ksh23,710,000 from an approved real estate project and cannot be disposed of within the five-year period.

    "Two applicants can make a joint investment with each applicant investing a minimum of Ksh23,710,000 to qualify," states the country.

    "The direct purchase of an eligible business can be made for a minimum amount of Ksh177,825,000 as an individual. Alternatively, it can be a joint purchase where each person contributes at least Ksh47,420,000, totaling a minimum of Ksh592,750,000."

    5. Cyprus

    Cyprus is attractive to rich Kenyans since a Cypriot passport allows one to do business throughout the European Union which the country is a member.

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    The British Virgin Islands in the UK
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    In 2013, Cyprus introduced a policy that granted a passport to anybody who invested at least Ksh260,810,000 in its economy.

    The European country grants rich Kenyans investors citizenship without the obligation of physical residence.

    In July 2020, Cyprus introduced laws to take away citizenship from investors who provided false information to get citizenship.