In a world fast becoming a global village, there are still many important markets that remain out of reach- even to Nigerian High Net Worth Individuals (HNWIs), despite their vast resources.
The travelling culture of the Nigerian citizen is limited by the visa-free reach of the Nigerian passport, which grants access to only 54 visa-free destinations, many of whom are other African countries like Ethiopia and account for a small combined 2.1% of the world’s GDP.
This modest number falls short next to that of West-African neighbours Ghana, Cameroon and Cote d’Ivoire, and does not include high-level destinations like Europe, USA, China and Singapore– destinations at the forefront of global development in technology, business, construction, medicine and so on.
In an effort to cross these borders and access these markets, both for business, education and leisure, the benefits of Citizenship by Investment (CBI) programmes become apparent. And therein lies the first of many important benefits of investing in Grenada’s most elite CBI project: Kimpton Kawana Bay resort.
1. Global Access
The most appealing of the benefits of investing in Grenadian citizenship through the Kimpton Kawana Bay resort remains the staggering access it provides to the world.
Where the Nigerian passport limits an individual to 54 visa-free destinations and only 2.1% of the world GDP, a pairing of the Nigerian passport with the Grenadian passport provides access to 163 visa-free destinations worldwide, including the United Kingdom, European Union Schengen Zone, Russia and China; translating to a much improved 58.7% of the world’s GDP, sufficient for ambitious HNWIs who aspire for influence that transcends borders.
This provided access also comes with the added benefit of Grenada being an E-2 visa country with the United States. This grants approved E-2 visa applicants the eligibility to start a business and live in the United States with their family. This benefit comes with a processing time of two months.
2. Real Estate Value
Heralded by Forbes as one of the most anticipated resort openings in the world, the recognised value of Kimpton Kawana Bay caused the development to receive 57% of all CBI real estate applications in Grenada for the year 2020—according to the Managing Director of Kimpton Kawana Bay, Tom Scott.
Kimpton Kawana Bay is located on one of the world’s most appealing beaches, the Grand Anse beach—voted by CNN and Condé Nast Traveller as one of the world’s best beaches—, with magnificent views over the Caribbean Sea. The hotel will feature an infinity-edge pool, state-of-the-art gym and spa facilities, world-class fine dining restaurant, roof-top and beach bar, lounge with terrace, and water sports facilities, which will not fall short of its promise to be a valuable and financially sound real estate investment. The Kimpton Kawana Bay resort is the newest 5-Star luxury resort in Grenada and the country’s most elite Citizenship by investment project.
Kimpton Kawana Bay is currently under construction and is scheduled for completion in 2022. Upon completion, the resort will come under the management of the boutique operator Kimpton Hotels & Restaurants, part of IHG (Intercontinental Hotels Group), one of the world’s largest hotel chains. The freehold condominiums are priced from US$220,000, comprising title-deeded one-bedroom suites and studios and include up to two weeks of free usage. In addition to these benefits, the property invested in is included in the hotel’s rental pool, earning an annual return on your behalf via Kimpton. Investors can choose to disinvest after five years and recoup their initial property investment whilst retaining lifetime citizenship.
3. Permanence and generational considerations
By sowing the single seed of this investment in Kimpton Kawana Bay, one could stand to reap an entire tree of benefits. And this benefit takes the literal form of one’s family tree, with provisions being made to allow for the main investor to include their spouse, dependent children, unmarried siblings, parents and grandparents under one family application. This makes the investment inclusive of larger family sizes, whose members, upon acquiring citizenship will be granted access to top schools and provided a 90% tuition discount at Grenada’s St. George’s University—the world’s largest offshore American accredited medical school.
With a stable democratic government, the citizenship programme ensures consistent regulations that have no negative impact on the acquired citizenship status. This citizenship once acquired, comes with permanence and will stand to be benefited from for a lifetime.
Investing in Grenada CBI comes as a quick and straightforward process, taking as little as two to three months to process. Upon investment, citizenship comes with a number of benefits relating to visa-free travel extending to over 140 countries, tax exemptions from worldwide income, gift, inheritance, wealth or capital gains taxes and access to a world-class educational institution.
The application process can also be completed remotely and does not require any interview, language or educational tests. Grenada is also accommodating of dual citizenship and does not require residency.
For the African HNI looking to make a global impact and improve the ease of conducting business across continents, and in the hearts of countries leading the charge globally, the Kimpton Kawana Bay resort presents a unique opportunity too good to pass up.
To get started, contact La Vida Golden Visas for more information and counselling.
Pension transfer window is open but not all PFAs are good for you…
The Transfer Window now opened by PENCOM gives you the opportunity to jump ship.
Just like birthdays remind us of how old we are getting; it should also remind us of how close we get to retirement.
Many young people have vigorously started saving for their retirement with their referred or prefered choice of Pension Fund Administrators (PFA), but if you are one of them, are you sure that PFA is good for you? PENCOM has opened a Transfer Window so you can freely change your PFA if you feel they are not doing well or if they are not right for you.
Now comes the next questions, “Is my pension safe? how do I know which PFA is good for me?”. Don’t fret, this short article and chart from http://naijapension.com/ was written to help you.
The list contains the performance of the retiree fund of key PFAs. If your PFA is currently lagging on this list, you have nothing to worry about. You can easily switch to a better PFA and avoid stress later on; the Transfer Window now opened by PENCOM gives you the opportunity to jump ship. Funds to note are Funds II which is the default fund for RSA holders of 49 years and below and Fund III which default fund for RSA holders of 50 years and above.
Other Funds like Fund IV are only for retirees while Fund 1 is request based only however NOT accessible to Retirees and active contributors of 50 years and above
Your preference may differ, but we’d love to know what you think of the list.
Ecobank to pay customers N5 for every dollar received
Ecobank will pay N5 on every Dollar so beneficiaries will not only get the foreign currency sent from their family and friends abroad, they will also get extra Naira.
Ecobank has implemented the CBN scheme which offers N5 for every Dollar received into domiciliary accounts or as cash over the counter. Korede Demola-Adeniyi; Head, Consumer Banking, Ecobank Nigeria, who announced this in Lagos stated that the decision is in line with the CBN directive and fully aligns with efforts to encourage the inflow of diaspora remittances into the country. She noted that the “CBN Naira 4 dollar scheme” is an unprecedented incentive for senders and recipients of international money transfers.
Korede Demola-Adeniyi said that the scheme takes effect from 8th March and will run till 8th May, 2021. “Ecobank will pay N5 on every Dollar so beneficiaries will not only get the foreign currency sent from their family and friends abroad, they will also get extra Naira”, she stated.
Only recently, Ecobank had a first of its kind virtual Diaspora Summit to discuss opportunities for Nigerians living abroad and the various platforms available to assist them with their investment decisions and remittance needs. The event had major players in the remittance space, diaspora audience, government officials and notable stakeholders in attendance.
Further, the Managing Director, Ecobank Nigeria, Patrick Akinwuntan has disclosed that apart from consistent engagement with Nigerians in the diaspora, Ecobank is leveraging its digital technology to make remittances to Nigeria and Africa easy, convenient and affordable.
Mr. Akinwuntan stated that growing evidence has shown a positive relationship between diaspora remittances and economic growth. “Ecobank will continue to pursue its mandate of helping to enhance the economic development and integration of Africa, through the 33 countries where the bank operates on the continent. Ecobank’s Rapidtransfer and mobile app (Ecobank Mobile) enable Africans, wherever they are, to easily and instantly send money to bank accounts, mobile wallets and agent locations across 33 African countries”, he stated.
Ecobank Nigeria, a member of the Pan African Banking Group is committed to supporting Africans in the diaspora by providing advisory services, remittance solutions, investment options and financial planning schemes. The bank also offers mortgages, treasury bills, capital market instruments, among others.
Nairametrics | Company Earnings
Access our Live Feed portal for the latest company earnings as they drop.
- Seplat falls into a loss in FY 2020
- 2020 FY Results: Cornerstone Insurance Plc reports a 61.1% decline in profit
- Ellah Lakes increases operating expenses by 33.36% in HY 2020
- 2020 FY Results: Nigerian Breweries reports a 54.3% decline in profits in 2020
- Abbey Mortgage Bank projects N51.08 million profit in Q2 2020.