In a bid to attract foreign investment and stimulate economic growth, Egypt and Mauritius have recently introduced citizenship by investment (CBI) programs, joining the ranks of African countries offering this pathway to citizenship. According to Henley & Partners' latest update, these two nations have been added to the list of destinations offering CBI programs, providing individuals with an alternative method of obtaining citizenship alongside traditional processes such as long-term residency or birthright citizenship.

CBI programs have become increasingly popular among nations seeking to attract foreign investment to boost economic growth and development. By offering citizenship in exchange for substantial financial contributions, countries can attract high-net-worth individuals and entrepreneurs who can bring in much-needed capital and expertise. In return, individuals can secure citizenship in a new country, enabling them to conduct business or pursue personal activities with greater ease.

In the case of Egypt, the country enacted a law in 2019 allowing foreign investors to gain citizenship through financial contributions, managed by a dedicated unit to boost foreign direct investment. To qualify for Egypt's Citizenship by Investment Program, applicants must choose one of four options: a non-refundable donation of $250,000 to the state's public treasury, investing $300,000 in government-owned real estate projects, investing $350,000 in a new or existing local business and making a non-refundable donation of $100,000 to the state's treasury, or transferring $500,000 as a refundable deposit in local currency after three years, with no interest.

Egyptian citizenship by investment offers several key benefits, including visa-on-arrival access to Nigeria, strategic access between Africa, Europe, and the Middle East, and membership in the African Continental Free Trade Area and the WTO. Additionally, it grants eligibility for an E-2 Investor Visa for non-immigrant residency in the USA.

Mauritius, on the other hand, offers a residence program that allows foreign nationals to invest in real estate and apply for a residence permit. Successful applicants and their families receive full residence rights, including the ability to live, work, and retire in Mauritius. The Mauritius Residence by Investment Program requires foreign investors to select from several options, including investing a minimum of $375,000 in designated real estate projects, investing at least $50,000 in a business activity, transferring $1,500 monthly or $18,000 annually, or acquiring a residential unit in approved senior living schemes.

The Mauritius Residence by Investment Program offers a range of benefits, including family inclusion, a secure environment, a year-round tropical climate, and access to international schools. Mauritius boasts political, social, and economic stability, ranking among the top 20 for ease of doing business, and has a well-regulated international financial center.

The introduction of CBI programs in Egypt and Mauritius is likely to have significant implications for the African continent, as more countries seek to attract foreign investment and stimulate economic growth. As the global economy continues to evolve, it will be interesting to see how these programs shape the future of citizenship and investment in Africa.

With the addition of Egypt and Mauritius to the list of African countries offering CBI programs, individuals now have more options than ever before to secure citizenship in a new country. As the demand for CBI programs continues to grow, it remains to be seen how these programs will shape the future of citizenship, investment, and economic growth in Africa.