Lebanon News

Nov. 17, 2017 | 12:15 AM

Rich Lebanese scope passport options in wake of crisis

Beirut airport, Wednesday, May 20, 2015. (The Daily Star/Mohammad Azakir)

This article was amended on Friday, November 17 2017

A version of this article appeared in The Daily Star on November 17. The article has been amended to show that the advertised cost from the government of Saint Kitts and Nevis to procure citizenship is $100,000. Firms however often charge their own service fees in addition to the baseline cost.

A version of this article appeared in the print edition of The Daily Star on November 17, 2017, on page 3.

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Summary

Prime Minister Saad Hariri's abrupt resignation and prolonged stay in Riyadh have led some wealthy Lebanese nationals to consider purchasing a second citizenship.

Rather than applying for a second citizenship through conventional means – the processing and approval of which often takes years – clients of Savory & Partners pay considerable amounts of money to expedite the process, obtaining citizenship from a group of countries with regulations that effectively allow foreigners to buy passports.

Till Neumann, managing partner at Citizen Lane, another firm focused on citizenship planning, reported that two Lebanese clients had reached out to them over the past couple weeks.

Whether the 90 potential Lebanese clients will evolve into serious clients for Savory is yet to be seen.

Compared to this quarter last year, the firm has reportedly experienced a 46.4 percent increase in Lebanese clients seeking a second passport.

The Caribbean island, an extremely popular choice amongst Lebanese hunting for another passport, requires applicants to go through less than six months of processing to obtain citizenship.

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Lebanon News

Rich Lebanese scope passport options in wake of crisis

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