…how Ghanaians can use investment migration to improve global access
Diversifying your portfolio is common practice when managing assets. For high-net-worth individuals looking to futureproof their portfolio, investing in a range of regions and asset classes can spread risk and create new opportunities. But increasingly, wealth planning and legacy management is widening to include new strategies, such as investment migration, which can protect against future risk, and create new value and opportunity for the entire family.
In an increasingly unpredictable world, affluent individuals are actively diversifying their geographical domicile options and expanding their personal access rights to a range of different jurisdictions through residence and citizenship by investment.
According to the Henley Passport Index, an individual with a Ghanaian passport only has visa-free or visa-on-arrival access to approximately 60 out of 226 destinations worldwide, which together account for about 3.5percent of the global economy.
Ghana is Africa’s 9th wealthiest country, according to the Africa Wealth Report 2023, with millionaire growth of 24percent from 2012–2022. Ghana has a population of 2,600 high-net-worth individuals (that is, persons with investable wealth of US$1 million or more). Of this group, 100 individuals emigrated from the country last year, as shown in the Henley Private Wealth Migration Dashboard. 100 more were forecast to leave Ghana in 2023.
Ghanaian investors looking to achieve greater global reach through residence and citizenship programmes can improve their economic mobility and opportunity, as well as provide greater access for themselves and their families to benefits such as internationally recognized educational institutions and world class healthcare.
A more strategic generational wealth transfer
Globally, an estimated US$72 trillion in wealth will be transferred from the so-called ‘baby boomers’ to their Generation X and millennial children over the next 20 years. With this in mind, many high-net-worth individuals are planning more strategic generational wealth transfers.
While savvy Ghanaian entrepreneurs and investors recognize that having a diversified portfolio is key to wealth management, a diversified portfolio of residences and/or citizenships can enable greater global access, and expand the opportunities and resources available to their families for generations to come.
Visa rules can and do change, as do governments, but citizenship, when legitimately acquired through an established investment migration programme, is for life and can usually be passed down to future generations.
A growing number of countries across the globe host residence and citizenship by investment programmes in some of the most sought-after locations in terms of business environment, quality of life, and access to top-tier tertiary education institutions and private healthcare. These programmes offer a suite of attractive investment options, from government donations starting at US$100,000 to real estate acquisition, to capital transfers, to enterprise start-ups — each providing a pathway to residence or citizenship in exchange for a significant financial contribution.
Shape your children’s future with premium global education
A good education is one of the best gifts you can give your children. It can set them up for future success and help them reach their full potential. Ghanaian families who want to ensure that the next generation has access to the best education can do so by securing residence in countries such as the UK, the USA, Canada, Australia, New Zealand, and numerous European countries that are home to the world’s best educational institutions. In so doing, they will open doors for their children at the world’s most sought-after institutions and prepare them to become global citizens.
Henley & Partners’ education division provides clients with all the support and assistance they need to access the best schools and universities in their countries of choice.
Prioritize longevity and quality of life
Medical innovation is advancing rapidly, resulting in longer lifespans than ever before. As a result of this many investors want to ensure that when required, they have access to the top-tier level of healthcare for themselves and their families. High-net-worth individuals are keen to benefit from the best possible medical facilities and treatments available, looking to improve not only the length but the quality of their life. As a result countries such as Australia, New Zealand, and Switzerland, which all deliver some of the world’s best healthcare, are seeing a rise in demand for their residence programmes.
Balance risk and opportunity
The world is going through a paradigm shift and for many safety, security, and future proofing is at the forefront of wealth planning. This year, we anticipate that there will be over 122,000 millionaires on the move, the highest number on record, many of whom are likely to be prompted by regional instability, economic opportunity, and creating a lasting legacy for their family.
Investment migration programmes are fundamentally designed to balance risk and opportunity: a portfolio of multiple residences and citizenships generates unique short-term value and long-term yield, enabling investors to transcend the constraints imposed on them by their countries of origin, to improve the resilience of their wealth and estate planning strategies, and to ensure physical and financial longevity for generations to come. Having just a plan B is no longer enough to secure your legacy — you need a plan B, C, and even D.
>>>To find out more about these or any other investment migration programmes, or our education services, please reach out to Henley & Partners or e-mail [email protected]. As the pioneering firm and global leader in residence and citizenship by investment and with over 45 offices worldwide, we are best placed to successfully serve international clients and partners, advising and supporting you every step of the way.
>>>the writer is a Consultant at Henley & Partners. She can be reached via [email protected] and 233 2022220496
