Source: BusinessTech (South Africa)
There has been a large increase in South Africans applying for a secondary passport.
Speaking to BusinessTech, residence and citizenship planning firm, Henley & Partners, said that it had seen a 125% increase in the number of enquiries received in the second half of 2018 compared to the same period last year.
This was underpinned by a record number of enquiries received in October 2018 – equating to a 364% increase in growth year-on-year.
“South African high net worth (HNW) clients who seek our professional services are not always looking to relocate, but rather invest in a Plan B for future proofing,” Henley & Partners said.
Other interesting statistics include:
- 85% of the applicants were male;
- 45% of the applicants were self-employed, 45% were employed, and 10% were non-economically active;
- 20% of these South Africans were aged between 25-44, while 70% were aged between 45-64.
- Gauteng had the most applicants (38%), closely followed by the Western Cape (37%), and KZN (10%).
- Just 45% of these applicants were white South Africans.