At Diaspora Freedom Initiative we get a lot of questions about how to do business in Africa and what that looks like for you. So, in this blog, we’re going to answer some of the top FAQ’s that you guys want answers to.
Q. Africa is a huge continent. Where exactly should I do business?
A. So you guys are correct of course Africa is huge & choosing the right country is incredibly important. As I’m sure you might imagine the answer to this question can change based on the client who’s asking so we’ll give you a rundown of the most relevant facts:
· Do you have the RIGHT to claim citizenship? – If your parent(s) are from a particular country in Africa, you may have the right to citizenship by descent (blood). In this case, it may be much easier for us to walk you through the processes and get you started in business as a duel citizen of that particular country.
Are you producing or manufacturing? – If you’re producing or manufacturing then we target countries that are stable, business-friendly, and shipping friendly. Currently, Kenya is our top target country for this kind of expansion. It is the first & only Sub-Saharan country with a US free trade deal on the table being negotiated right now! It is one of the few African Countries that own a World-Class Airline & Magnificent shipping ports! Median national income makes paying well for labor cost-effective ($300-$500/MONTH). Tax incentives may include 10 years tax-free.
Are you doing Hospitality/Vacation Rentals? – Kenya tops our list on this option once again. Beaches like Diani Beach that consistently rank in the top 10 beaches in Africa (ranking #1 for multiple years) have land available for purchase. Under normal circumstances, non-Kenyans can’t own land but that’s where we come in. Diaspora Freedom Initiative works with legal avenues that will get you qualified to legally own land without being born in Kenya! You can rent your vacation home out when you are not there using an app or you can have us help you partner with a hotel who will book, staff, and clean your property for you and deposit your money monthly creating a passive income stream for you!
Stability – We would not in most circumstances recommend that you engage in business in a war-torn or unstable country. Likewise, if you insist on doing so, with a few exceptions, we will not assist you. Exceptions include, you own a private military company & you’re trying to help, you own a non-profit attempting to provide relief, or something similar.
Q. How does it work? What should I expect?
A. The first thing that Diaspora Freedom Initiative is going to do is create a corporation on your behalf. Once your corporation is created the next steps depend on your plan so we’ll give you a general example:
1. Corporate formation – You’ll be incorporated by our legal team on the ground in-country. You will receive all of your corporate documents immediately as they are issued from the government & be in continuous contact with us throughout the process. (There is no need to travel to Africa at this point)
2. Corporate Account – Once incorporated the lawyer will create a corporate account at a national in county institution & forward you the login information for you to manage & fund your account. (You will change your password before depositing any funds & only you will have access)
3. Funding Requirements – There may be a state funding requirement but not to worry, our legal team has worked this out that the price of your property will meet the requirement. Once the requirement has been reached (normally 30 days) we can use those same funds to complete the deal. You would deposit the required amount in your corporate account that only you can access & leave it there while the government verifies it.
4. Land Selection – Our agents on the ground will begin locating appropriate properties and send reports with photographs. Once you make a selection, we can begin planning a trip to see your property in person. (This is time-sensitive; your property can not be held & may be sold if you delay in this process. If this happens, we simply choose another property.)
5. Land purchase & completion of the process – Now that everything is done and you have all the legal documents needed to own your new international property you can transfer the agreed-upon amount to us and we’ll close the deal transferring ownership of the property to you.
Q. Once everything is done why do I need to go through Diaspora Freedom Initiative or it’s subsidiaries to make the final purchase?
A. The reason that you’d want to finish the deal to the side of the obvious contractual agreements is that our local agents have arranged the price at the local rate. For example, 1/5 acre of beachfront property in our target market is $110,000 to a LOCAL for a foreigner the market price is $350,000. Our agents being locals set the deal at the local price and then our lawyer also being local represents you at closing and you pay the local price. This means that you immediately have a 200% plus equity gain in the property at closing! In other words, you just spend 110k & gain a net worth of 350k without lifting a finger! If you were to show your face at closing the price would immediately jump to 350k & while that’s still 65% off the US market, it’s not as good a deal for you as a Businessperson.
Q. Why deal with Diaspora Freedom Initiative, LLC?
A. Because we are an American company registered in the State of New Jersey & we’re subject to US law. This fact alleviates the concern of getting conned or ripped off by an African company that you would have an extremely difficult time taking to court if you could at all. By working with us you ensure that you are getting exactly what you pay for.
Q. So even I can see that it’s pennies on the dollar but what if I don’t have the funds?
A. We’ve partnered with a Black-owned lender that will provide unsecured personal loans of up to three times you’re salary to get you where you need to be!
If you’d like to learn about owning property in Africa as a revenue-producing vehicle or even just repatriation but with a financial plan to support yourself feel free to contact us at 1-856-481-2463 or schedule a FREE consultation with our CEO to talk about it using this link.