Browsing: Kenya’s dollar millionaires

  • Kenya’s dollar millionaires seeking new passports are interested in reducing their tax bills, enhancing their safety, or getting a better quality
  • Kenya’s dollar millionaires have identified climate change as a great threat to their wealth
  • Kenyan millionaires report greater concerns about succession than the norm

More than a quarter of Kenya’s 3,362 dollar millionaires are now planning to apply for a second passport or a new nationality to enable them to grow their wealth.

The move, according to the latest Knight Frank’s 2022 annual Wealth Report, will provide greater investment, education and healthcare access.

According to the attitudes survey, this level of second-nationality investment amounts to almost twice the global average for wealthy individuals, with an average of 15 per cent of dollar millionaires seeking additional or changed nationalities worldwide, compared to 28 per cent in Kenya.

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However, the proportion of Kenyans seeking …