Best boltholes: Have millions, will move to Malta
More wealthy South Africans are throwing (some of) their lot in abroad
Offshore boltholes offering work abroad without the fuss of permits as well as education for children at excellent schools can now be bought for not much more than the price of an average house in an upper middle-class suburb. Political uncertainty, a limping economy, the possibility of further ratings downgrades and other concerns about SA’s future have brought golden visa programmes into vogue. They allow South Africans to buy their way to European, American and other citizenship. A second citizenship or residence can be obtained in countries such as the US, Grenada, Cyprus, Malta and Portugal. Last November, Malta was ranked as the world’s top citizenship-by-investment programme and Portugal as the top residence-by-investment programme, according to Henley & Partners SA, which offers investment migration services. Its managing partner, Nigel Barnes, says there has been "a massive shift in global mobility and migration". "But while more and more South Africans are interested in in...
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