In the current economic climate, South Africans are hedging their bets by investing abroad and by acquiring a second citizenship or residency overseas at an unprecedented rate. Immigration experts Sable International say they have seen 70% increase in enquiries and 45% increase in clients over the past year.
“The reasons vary tremendously, from concerns about our country’s policies, to wanting to school children abroad, to wanting to diversify their investments offshore or simply wanting to travel more easily without challenging travel visa requirements – they want to become global citizens,” says Rissik.
“Most people have to understand how to buy or rent property, open bank accounts, understand the tax laws and other fiscal implications. You need to do your homework or you’ll have a nightmare, so many South Africans embark on this complex and risky journey with the guidance of smooth real estate sales people preying on the fact that South Africans are fearful about their future, buyer beware!”
Here’s a list of countries South Africans are fleeing to:
- America
- Australia
- Portugal
- Britain
