July 13, 2021
According to a London-headquartered legal advisory, CS Global Partners, Moroccan nationals account for more than half of second citizenship inquiries in the North African region. The advisory’s director, Paul Singh, says the main incentives for this are the growing business and entrepreneurial market in the country, which has increased the need for international travel.
Traditionally, due to the limited number of countries a Moroccan passport allows visa-free or visa-on-arrival arrival entry into, travellers need to apply for visas beforehand and wait several months in some cases. Through citizenship by investment (CBI) programmes, successfully vetted applicants legally receive second citizenship of the country they invest in and can apply for a passport. Most countries with CBI programmes, like St Kitts and Nevis, allow citizens access to three times more destinations, including a wide variety of global business hubs, making travelling for business a hassle-free process.
Moroccan parents, like all parents, are also highly concerned with making sure their children have the best opportunities when it comes to health, education and safety, said Singh. “St Kitts and Nevis’ decades-long experience in the CBI market and the country’s long list of visa-free destinations gives applicants assurance that they are making a sound choice,” he added.
Recently, the Caribbean nation introduced a limited time offer for families of up to four to obtain citizenship for an investment of $150,000 under the Sustainable Growth Fund instead of the usual $195,000 – a reduction of $45,000. Moreover, St Kitts and Nevis also allows dependants grandparents, parents and siblings to count in the family application.
Established in 1984, it is the longest-running CBI Programme in operation and is acknowledged within the industry as a ‘Platinum Standard’ brand. The 2020 CBI Index, an annual independent study published by the Financial Times’ PWM magazine, highlighted the Programme’s ease of processing, due diligence, and citizenship timeline as some of the reasons for its popularity.
Applicants also have the option to reside in the country with full living and working rights. However, investors must first go through strict due diligence checks to ensure that only those of the highest moral standing are accepted as citizens, thus protecting the Programme’s international reputation.