The demand for second passports amongst wealthy Nigerians continues to soar for a plethora of reasons including increased access to global business and opportunities, Visa-free travel to major territories of the world and hedging against economic and political uncertainty in your home country.
Citizenship By Investment Programmes (CBI) were designed specifically to provide a legal means for wealthy individuals to acquire second passports by investing in government-approved real-estate projects like the popular Kimpton Kawana Bay Hotel Resort in Grenada, the Caribbean.
Given that CBI programmes typically cost a minimum of $220,000 along with associated Government fees, it is imperative to choose a programme that maximises the value of every dollar spent and tailored to suit your individual objectives.
But while individuals may have any number of reasons for choosing a second passport, some of the most important things to consider when choosing a CBI programme are: Global Access, Project Credibility and Facilitator Track Record, Cost and Return on Investment, Family Size, Economic and Political Stability of Chosen Country and additional benefits of the second passport.
According to La Vida Golden Visas, one of the world’s leading citizenship by investment facilitators, the Nigerian Passport is one of the lowest ranking in West Africa and as a standalone, only allows visa-free travel to 54 destinations in the world- many of whom are other African countries like Ghana and Ethiopia- and they only account for a combined 2.1% of the world’s GDP. A dismal number for the supposed giant of Africa.
It is no secret that the United States, China, the European Schengen zone and Russia are at the forefront of global development in business, technology, medicine, trade and education. Therefore it is imperative that the CBI programme you choose allows visa-free access to any or all of these countries. One option that ticks all the boxes, especially for Nigerians, is the Grenada Citizenship by Investment (CBI) Programme via its most popular project, the Kimpton Kawana Bay Hotel Resort.
The combination of the Nigerian and Grenadian Passport dramatically increases the number of countries Nigerians can visit visa-free to 163, or 58.7% of the worlds GDP, presenting a much better chance to make global impact.
Credibility and Facilitator Track Record
Perhaps the most crucial thing to consider when choosing a CBI programme is the authenticity and credibility of the CBI project and the track record of its facilitator. Only choose government-approved projects like the Kimpton Kawana Bay Project which was endorsed by the Prime Minister of Grenada, who along with members of the Grenadian Parliament visited the project site and hailed the impact of the project on tourism and the local economy upon completion in 2021.
It is also important to consider the experience and track record of the CBI facilitator. La Vida Golden Visas, for example, is a top facilitator of the Grenada CBI programme and it prides itself on successfully advising over 30,000 potential investors with clients from more than 80 countries.
Cost and Return on Investment
Ideally, you want to choose a CBI project that provides actual monetary return on the real estate investment in addition to opening the world up to you via the intended second passport. This guarantees that your money is not lost on acquisition of the passport but merely put to work and garnering interest on your behalf that can later be collected after an agreed period of time.
The Kimpton Kawana Bay hotel project with title deeded studios and suites for sale for the minimum investment of USD220,000 is a luxury 5-star resort on Grand Anse Beach, voted by CNN and Condé Nast Traveller as one of the world’s best beaches. It will be operated by an internationally recognised hotel brand – Kimpton Hotels & Restaurants, part of IHG (InterContinental Hotels Group), one of the largest hotel groups in the world. Investors will thus be investing in an excellent hotel managed by one of the world’s finest in the hospitality business.
With a projected rental income of 3-5% through a transparent revenue-sharing model and personal accommodation usage of up to 2 weeks each year with zero annual out of pocket fees, Kimpton Kawana Bay offers hassle-free ownership for potential investors who can choose to disinvest and recoup their initial investment after 5 years should they require.
It is important to look out for additional benefits that could bring tremendous value and further enhance the overall return of investment. The Grenada CBI programme for instance allows one applicant to include 4 dependents across 4 generations in one application. Grenada also provides a tax haven, citizenship that can be passed on to future generations and the ability to live and work in the United States via the E-2 Visa. The E-2 Visa is an optional and secondary application that is not affected by the recent immigration bans announced by President Trump and it allows Nigerians to legally migrate to the US by investing a minimum of $120,000 upwards and becoming at least a 50% shareholder in the company.
The Kimpton Kawana Bay Project and Why you should Choose it.
The Kimpton Kawana Bay hotel, which will feature an infinity-edge pool overlooking Grand Anse Beach, state-of-the-art gym and spa facilities, exquisite fine dining restaurant, roof-top bar, beach bar, lounge with terrace, and water sports facilities already promises to be a marvel and spectacular piece of real estate wonder. The Grenada Passport is typically processed between 60 to 90 days and checks all the boxes for most individuals’ requirements.
So, if you are a wealthy Nigerian looking for increased access to global opportunities and travel or looking to secure a safety net that second citizenships provide to hedge against economic and political uncertainty, then look no further than Grenada Citizenship by Investment via an investment in the Kimpton Kawana Bay hotel project.