By Ebenezer NJOKU
Global mobility and investment programmes provide the most holistic avenue for high-net-worth individuals – especially business leaders – to diversify their investments, expand their corporations, create wealth and provide potential safety-nets for future generations.
This was the principal takeaway from comments by speakers at the Investment Migration West Africa Road organised by Henley & Partners in Accra.
They argued that these initiatives, far from encouraging permanent relocation, are opening doors to international markets and providing strategic advantages for those seeking to elevate their businesses beyond local confines.
Speaking to B&FT on the event’s sidelines, Grace Arthur – a consultant with the firm which specialises in residence and citizenship by investment – shed light on this growing trend.
“We are educating Ghanaians about the opportunities available that they can take advantage of,” Mrs. Arthur stated, saying the phenomenon is leading to a shift in global wealth.
She stated that this development underscores a shift in perspective among Ghana’s business elite – from local success stories to global ambition.
“They do not want to be local champions in terms of businesses; they want to grow. They want to enhance their wealth. They want to create that lasting legacy for their families,” he explained.
The appeal of these programmes lies in their multifaceted benefits. “We help them expand their businesses into areas like North America, into areas like Europe, into areas like the Caribbean,” Mrs. Arthur added.
This expansion is coupled with access to residency and citizenship programmes that offer a range of advantages, from enhanced travel freedom to strategic tax planning.
For business leaders with international aspirations, alternative citizenship or residency status can provide the global mobility necessary for seamless business operations across borders.
However, Mrs. Arthur was quick to dispel misconceptions about the nature of these programmes. “This whole focus is not a focus for japa,” she clarified, referring to the now-ubiquitous term for emigration.
Instead, she emphasised that their typical clients are “successful people” who are “very established people in Ghana wanting to take advantage of opportunities like partnerships, collaboration, expanding businesses into other directions, starting up new businesses”.
The benefits extend beyond mere travel convenience. Mrs. Arthur highlighted access to “quality education for their children”, “attractive tax policies” and “international banking” as key attractions. These factors contribute to a comprehensive strategy for wealth growth and preservation.
Mehdi Kadiri, Executive Vice President-Mercan; Siobhan Lloyd, Head-Legal, Range Developments; Carlo Paguio, Director-Sales and Strategic Partnerships for Europe, the Middle East and Africa, Hotel 101
The uptake of these global mobility programmes has seen a marked increase, Troy Hanley, Managing Director-Henley & Partners’ UK operations added, with a 46 percent rise in acquisitions over the past year.
He cited geopolitical uncertainties and economic volatility as contributory factors to the rise in uptake.
“Obtaining an alternate residence and citizenship to hold with your Ghanaian passport can aid your travel, giving you more visa-free access to large economies around the world – such as the US, Canada, Australia and Europe,” he added.
Among the options presented, Caribbean citizenship programmes – particularly that of Grenada – garnered significant attention.
Siobhan Lloyd, Head of Legal for Range Developments, emphasised the Grenadian programme’s efficiency: “It is probably the fastest process in time. Legislatively, the application has to be processed within 90 days”.
Mrs. Lloyd also highlighted the cultural similarities between Ghana and Grenada, stating: “Because of the connection, we look alike, we sound alike. It is English-speaking. It would be an easy transition for you and your family if ever you were to actually live in Grenada”.
European options were also discussed. Portugal’s programme was touted for its efficiency by Mehdi Kadiri, Executive Vice President-Mercan, who noted: “The main unique value proposition of Portugal is two things.
Number-one is their timeline to get citizenship is the shortest in all of the European Union options. It is only five years. And number-two, the physical presence required for this five-year residency claim is lowest in the European Union, which is only seven days per year to be eligible for citizenship application”. He mentioned Greece as another ideal destination.
This was echoed by Carlo Paguio, Director of Sales and Strategic Partnerships for Europe, the Middle East and Africa at Hotel 101, who presented Spain’s residency programme.
“For an investment in real estate – a safe asset for €500,000 – you can get Spanish residency for you, the investor and your whole family,” he explained.
The speakers identified two main profiles among Ghanaian investors, who would benefit most from the programmes.
The primary investor demographic comprises individuals who have lifestyle considerations and often seek to secure their family’s financial future.
A second investor segment consists of individuals aiming to diversify their investment portfolios. These investors, often with substantial domestic holdings, seek to expand their asset base into international markets.
