Senior Advocate, Idigbe Encourages Nigerians to Invest Abroad
A Senior Advocate of Nigeria and Senior Partner at Punuka Attorneys & Solicitors, has encouraged Nigerians to invest abroad.
Idigbe said there was no crime if Nigerians invest abroad, just as we are seeking foreign investors.
He gave the advice last Friday in Lagos, at a seminar organised by Fairway Condominium Development Ltd in conjunction with Punuka Consulting Inc. on “Citizenship By Investment (CBI) Programme in St. Kitts & Nevis”.
The Senior Advocate, who is one of the Island’s consultants in Nigeria, said “It is an investment; if you have your capital you can invest anywhere in the world. If you look at the Nigerian Stock Exchange, about 61 per cent of the investments are foreign investors putting their money in Nigeria. So, why shouldn’t Nigerians, also invest in other places?
“The other issue is globalisation, and unfortunately, the state of our passport is very bad. For a mobile businessman in Nigeria today, you don’t want visa problems. This is business and the Constitution allows you to have dual citizenship. I am patriotic person; I love Nigeria, but I am operating globally.”
St. Kitts and Nevis, a small island country in the West Indies. The Government of St. Kitts and Nevis has a long running “Citizenshipby-investment” program attracting foreigners, who make a substantial contribution to the development of the country. Investors along with any family members, can directly qualify for citizenship through investment, either by making a donation or investment in real estate purchase.
The seminar, which is curated for professionals and entrepreneurs interested in having a second passport to enhance their access to travel, business, financial and lifestyle freedom, provided participants with a unique opportunity to learn first-hand how to obtain a St. Kitts and Nevis passport, which is ranked as one of the top 25 passports in the world.
Also speaking at the seminar, the Chief Executive Officer, Citizenship by Investment Unit Government of St. Kitts and Nevis, Mr. Les Khan, told participants that with an investment of $400,000 in real estate, they could acquire the citizenship of the island country.
According to Khan, alternatively, interested person could pay $150,000 into his country’s Sustainable Growth Fund to become a citizen, explaining that the fund is generally “used in the purchase of medication to ensure the health and well-being of the growing population; develop climate resilience; build solid and sustainable infrastructure and development”.
Khan said with many countries battling with insecurity, it would not be a bad idea to make the island a second home, noting that the application process takes about only 90 days.
“No withholding tax in St. Kitts and Nevis; no capital gains tax and no personal income tax. So, as a country for economic investment, obviously we are a lot of benefits that come with citizenship
“Why do people want St. Kitts and Nevis’ citizenship? The first reason is, security. There are lots of countries around the world that are unstable, that individuals need a second base to be able to use citizenship, to get a second passport, to mobilise when then they need to mobilise.
“The second reason would be for business, travels. With St. Kitts and Nevis passport, you can travel to 158 countries visa-free. We are the number one country in terms of passport value within the Caribbean; we are number 27 in the world. So, for a small country to be ranked so high in the value of our passport, it gives our citizens the mobility that they need for business.
“Why else will you want citizenship? St. Kitts and Nevis is the most beautiful island in the world; you will probably want to settle for it as a second home”, he said.