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Dual citizenship firm opens office in Nigeria for millionaires, charges over $1 million

The citizenship and residency advisory firm will be setting up its office in Lagos, Nigeria’s commercial capital.

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Dual citizenship firm opens office in Nigeria for millionaires, charges over $1 million

Wealthy Nigerians who seek to have dual citizenship may heave a sigh of relief, as a citizenship and residency advisory firm, Henley & Partners Group, has decided to set up an office in Nigeria.

The Swiss firm disclosed that wealthy Nigerians and other Africans are becoming a huge part of the business, just like globally mobile nationals from China, Southeast Asia and the former Soviet Union. The expression of interest in either passports or residency rights from Africans have gone up in recent years to over 1,000 in the first quarter of this year, from about 750 a year earlier. Nigeria is expected to be its second office in Africa.

According to head of sales at Henley & Partners, Dominic Volek, “We have been engaging with Nigerian and West African Clients for over three years now and have seen constant growth. The significance in wealth creation in the region has created a consequent surge in demand.”

The citizenship and residency advisory firm, which already has offices in Johannesburg and Cape Town in South Africa, will be setting up its office in Lagos, the commercial capital of Nigeria. Its target market is the very rich, who wish to secure citizenship of various Caribbean countries, as well as some select few European Union members like Cyprus and Malta.

READ MORE: Deal: Investcorp Technology acquires Avira, gets first fund in 30 years

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The cost implication of these services ranges from $200,000 for the Caribbean passports to more $1 million for European nations.

Henley & Partners Group, who is the world’s largest company active in citizenship and residence planning, also assists clients who opt for residency by investment programs offered by countries like US, UK and Portugal.

This has become very rampant amongst wealthy Nigerians, especially politicians seeking avenues and safe havens to invest their money. They go for this citizenship and residency most times for mobility, and not necessarily for relocation. They do not want to be restricted. A great number of Nigerian politicians have stashed away most of their wealth in such countries, where it is usually difficult to trace.

 

Chike Olisah is a graduate of accountancy with over 15 years working experience in the financial service sector. He has worked in research and marketing departments of three top commercial banks. Chike is a senior member of the Nairametrics Editorial Team. You may contact him via his email- [email protected]

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Hospitality & Travel

Arik Air’s operation shut by Aviation Unions

Unions’ action is due the airline’s alleged failure to pay seven months’ salary arrears of workers.

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Why Arik Air carried out adjustment on scheduled operations, These are the sad reasons Nigerian airlines struggle and fail 

Arik Air operation has been shut down by Aviation unions over the airline’s alleged failure to pay seven months’ salary arrears of workers.

This was disclosed by a source in the airline, who claimed anonymity, because he is not permitted to speak on behalf of Arik Air.

READ: Local Airlines tell staff to forget April salary

According to him, aggrieved unions, the National Union of Air Transport Employees and the Air Transport Services Senior Staff Association of Nigeria, decided to withdraw their services, due to an alleged increment of Terminal levy by Bi- Courtney and other anti-labor practice.

Details later

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Hospitality & Travel

United Airlines adds Nigeria, Ghana, 2 others to international routes

Nigeria and other new destinations have been included in the flight routes of United Airlines.

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United Airlines has extended its international routes to cover Lagos, Nigeria; Accra, Ghana; New Delhi & Bangalore, India; and Johannesburg, South Africa.

This was recently disclosed by the airline’s Vice President of International Network and Alliances, Patrick Quayle, via live and lets fly’, a travelers blog. According to the airline, it will add service to Lagos, Nigeria from its Washington Dulles hub, and it has worked with Boeing to address range issues with this new route on the 787-8.

He explained that Lagos is the largest gateway to West Africa, and the airline had operated service between Houston and Lagos for many years, but with the oil market depressed, Washington appeared to be a more lucrative opportunity.

He said, “The service will operate 3 times weekly starting next spring utilizing a 787-8. United will compete with Delta on the route, which offers service from New York JFK utilizing a 767-300.”

With a growing Ghanaian population in the greater Washington metro area, and a more fuel and passenger efficient 787-8 Dreamliner, United hopes Accra route will be a success.

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“The service will operate 3x weekly starting next spring. United will compete with Delta on the route, which offers service from New York JFK utilizing a 767-300,” he added.

With South African Airways on life support, Quayle explained that United will add daily service between Newark and Johannesburg beginning in Spring 2021, and the move is expected to complement existing seasonal service to Cape Town. The flight will still utilize a 787-9

On Delhi route, United Airlines will take up the mantle of a long-time, but now abandoned American Airlines route. Chicago, United notes, has the second highest population of Indian Americans in the United States.

The new service will begin in December 2020 and utilize a 787-9.

In what United calls its most-requested international route, new nonstop service between San Francisco and Bangalore will connect Silicon Valley East with Silicon Valley West.

The new route will start in the Spring of 2021 and be operated by a Boeing 787-9.

Why now?

While critics argued that United’s move at a time the world still battles COVID-19 pandemic could backfire, Quayle said:

Now is the right time to take a bold step in evolving our global network to help our customers reconnect with friends, family, and colleagues around the world.”

He added that the new non-stop routes would provide shorter travel times, and convenient one-stop connections from across the United States, demonstrating United’s continued innovative, and forward-looking approach to rebuilding our network to meet the travel needs of our customers.

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Hospitality & Travel

Canada invites 4,200 express entry candidates in its September draw

All the candidates with a CRS score on or above 475 were invited.

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Canada invites 4,200 express entry candidates in its September draw

The Canadian government has issued 4,200 invitations to Express Entry candidates, for Canadian permanent residency application, in its latest draw held on the 2nd of September 2020.

The minimum Comprehensive Ranking System (CRS) score in this latest invitation round was 475, a decrease of 1 point compared to the previous draw held August 5.

The tie-break applied by the Immigration, Refugees and Citizenship Canada (IRCC), was August 16, indicating that all candidates with a CRS score of 475 and above, who entered their profile in the Express Entry pool, before the selected date and time were invited.

This round of invitation is the most issued in an Express Entry round, since 4500 were issued prior to the coronavirus pandemic on February 19, 2020. A strong indication of Canada’s commitment towards welcoming high levels of immigration going forward.

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The latest round was the 29th of its kind in 2020, and brings the total number of ITAs issued this year to 69,950 a new record to date. Recall that Nairametrics had reported in March, that in order for the Canadian government to reach this year’s 85,800 targets, it started issuing larger numbers of invitations in every draw, which has translated to 81.5% achievement so far.

With many more rounds to go before the end of the year, it is evident that the Canadian government has fully intensified its effort towards attracting immigrants to apply for permanent residency.

How it works

Express Entry is the application system that manages the pool of candidates for Canada’s three main economic immigration classes — the Federal Skilled Worker Program (FSWP), the Federal Skilled Trades Class (FSTC), and the Canadian Experience Class (CEC).

A set number of the highest-ranked candidates are invited to apply for Canadian permanent residence through regular draws from the pool. These invitation rounds typically take place every two weeks and the vast majority involve candidates from all three Express Entry-managed categories.

Candidates are ranked based on a score awarded under the CRS, which considers factors such as age, education, skilled work experience, and proficiency in English or French.

A set number of the highest-ranked candidates are issued an ITA for Canadian permanent residence through regular draws from the pool. Although, while a job offer is not required in order to be eligible under the Express Entry system, the CRS does award additional points to candidates who have one.

Also, the Government of Canada has a processing standard of six months, for permanent residence applications filed through the Express Entry system.

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