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Caribbean nation of St Kitts and Nevis most popular destination for Moroccan nationals
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3 million people of Moroccan descent believed to be living abroad
Of all North Africans, Moroccans are most interested in a second citizenship, according to investment immigration firm CS Global Partners.
Currently, Moroccan passport holders can travel to 64 countries and territories visa-free. The number close to triples with citizenship from a citizenship by investment (CBI) program, like that of St Kitts and Nevis.
According to the International Migration Institute, since 1990, Moroccan emigration has heavily focused on European destinations like Spain, Italy and France, while the higher skilled exodus centered on countries like the US and Canada.
Currently, more than 3 million people of Moroccan descent (out of a total population of 30 million) are believed to be living abroad. Nevertheless, this peak of interest in CBI indicates that Moroccans do not necessarily want to move but rather expand their businesses by increasing their freedom of movement, says Paul Singh, the Director of CS Global Partners.
“North Africans and Middle Easterners have always shown interest in migration and attaining dual citizenship. However, inquiries from businesspeople in Morocco looking for stability and security through CBI are soaring more than ever,” said Singh.
“We live in a time where anything can happen any time, and with the country facing international aid freezes and tensions at borders, people want to make sure their families can achieve their full potential, whether that comprises of better healthcare, business expansion or opening the door for their children to study anywhere in the world,” he added.
The firm highlighted that the Caribbean nation of St Kitts and Nevis is the most popular option for Moroccan nationals and North Africans in general due to its family-friendly application process and a limited time investment deduction.
Investors can add various dependants like parents, grandparents, children and siblings to their application. Moreover, until the end of 2021, a family of up to four, under the Sustainable Growth Fund (SGF) option, can invest $150,000, accounting for a $45,000 discount.