A firm, Henley & Partners Group, a citizenship and residency advisory firm, which helps the rich and influential acquire second passports, especially for other countries, is set to open up an office in Nigeria. With less hassle and a target audience of the rich and influential Nigerians, it was learnt that the firm is professionally equipped to provide the services for those seeking dual citizenship in other countries. According to an online news portal, Bloomberg, which released the report during the week, Nigeria will become its second hub of operation in Africa after South Africa.
In an email to Bloomberg, Head of Sales at Henley & Partners Group, Dominic Volek, said Henley is globally the largest company active in citizenship and residence planning, stressing that Nigeria had been a prime source of demand for their services.
He said: “We have been engaging with Nigerians and West African clients for over three years now and have seen constant growth. The significant increase in wealth creation in the region has created a consequent surge in demand for our services.” Volek said most Nigerians in demand of dual citizenship or a second passport feel limited by their Nigerian passport, hence the firm’s resolve to address the issue.
He added: “These clients can become very wealthy but at the end of the day they are limited because of the passport that they hold.” The company which is looking to set up its office in Lagos, will seek to aid rich Nigerians secure citizenship of various Caribbean countries including St. Kitts and Nevis; which allow more widespread visa-free travel. The company also helps clients to secure citizenship of various countries in the Caribbean, including St. Kitts and Nevis and other European countries that offer citizenship by investment option. Also targeted would be citizenship of select few European Union members such as Cyprus and Malta.
Costs are estimated to range from less than $200,000 for Caribbean passports to more than $1 million for European nations. Further, the firm revealed that some influential Nigerians eyeing Henley’s services actually have no plans to relocate. These individuals may have built a fortune here in Nigeria. However, they require access to greater options whether for last minute business travel or for their children’s education. However, it was gathered that Nigeria has more than 700 people with a net worth greater than $30 million. Further, the figure is forecast to grow by 13 per cent in the next five years. This is, according to Knight Frank’s 2020 Wealth Report estimates, which on the other hand, Nigeria is also home to the world’s poorest people.