In 2013 the Nicaraguan government gave the go-ahead for the planning and development of a canal which would pass through the Nicaraguan mainland and Lake Nicaragua and connect the Atlantic and Pacific oceans. A Chinese consortium is ready to pay the $50 billion it will cost, and in early 2017 the final round of objections were dismissed in court, leaving the path clear for what will be the biggest civil engineering project of all time.
Nicaragua could, in the space of a few years, go from being one of the poorer countries in Central America to the richest by virtue of the proposed $50 billion Nicaragua Canal, which was given the green light in 2013 and is set to be completed in the early 2020s. The project is not without its critics, with many Nicaraguan farmers fearing for their land and livelihoods, and global ecologists concerned about the effects of the canal on Lake Nicaragua – the largest source of fresh water in Latin America. Nevertheless, in March 2017 the Nicaraguan Supreme Court turned down the last environmental claim that had been delaying the construction of the “Interoceanic Grand Canal,” allowing work to finally begin later this year.
As they are paying the bulk of its cost, it’s safe to say that the Chinese will benefit significantly from the canal, as will the global free trade markets of North America, Europe and Southeast Asia. However, it could be argued that the real beneficiaries will be Central America, Nicaragua in particular. The country’s economy will receive a massive and sustained boost that could see Nicaragua supersede Costa Rica as the wealthiest country in the region. It will also be great news for foreign investors who own Nicaraguan citizenship thanks to 2ndPassports.com’s citizenship by investment (CBI) program for that country. Nicaraguan citizenship will grow in terms of international prestige, any investments made in Nicaragua will skyrocket in value, and the Nicaraguan passport will substantially increase its visa-free power .
The World’s Most Famous Canals
A canal is a man-made artificial waterway that is built for the purpose of allowing boats and ships to travel inland, or to move water for irrigation. Canals normally function via a series of dams and locks which create areas of low speed current flow. There are literally thousands of canals of varying sizes around the world, predominantly in Europe and the United States, where European construction methods were influential.
In popular culture, canals have been made famous for centuries via art, cinema and TV by cities such as Bruges in Belgium, Dutch capital Amsterdam and of course, the Italian city of Venice (pictured), all of which are synonymous with their postcard-friendly waterways.
In China, the Beijing-Hangzhou Grand Canal which was constructed between 581–618 AD is the longest canal in the world and a globally-famous tourist destination, as well as being a UNESCO World Heritage Site. In the UK, canals are popular for holidays, while more and more people choose to make canal boats their homes, with 10,000 people in London alone officially registered as canal boat dwellers.
However the undisputed heavyweights of the canal world are the Suez Canal and the Panama Canal, waterways which have been strategically chosen and designed to significantly shorten key journeys, improving import and export, and attracting massive levels of transport shipping.
The Suez Canal
Built in the years between 1859 and 1869, the 193 km (120 miles) Suez Canal enabled ships to travel a far shorter journey than they originally took when travelling from Europe to Asia. Previously a ship travelling from London to Mumbai for example would have had to circumvent the entire continent of Africa via the South Atlantic and southern Indian oceans, but instead the Suez Canal effectively sliced some 7,000 km (4,300 mi) off the journey by conversing between the North Atlantic, the Mediterranean, the Red Sea and eventually the Indian Ocean.
Today, the Suez Canal is in greater demand than ever, with 17,000 ships transporting just shy of one billion tons of cargo annually. The Suez Canal has just enjoyed an $8 billion upgrade to make it wider to better cope with the monstrous super cargo ships that cruise the oceans today, loaded with as many as 20,000 containers.
The Panama Canal
Following the example laid down by Egypt with the Suez Canal some 50 years earlier, in 1914 the 77 km (48 mile) Panama Canal revolutionized global shipping both in terms of travel and exports by connecting the Atlantic Ocean with the Pacific Ocean, eliminating the need to take the much longer and more dangerous route around the tip of South America. The Panama Canal was built by the United States, and they had sole control of it until 1977, when they entered into a period of joint control with Panama. Panama gained full control of the canal in 1999.
The Panama Canal remains arguably the most important canal in the world, with more than 14,000 ships passing through it every year. Like the Suez Canal, in 2007 the Panama Canal was forced to undergo a massive refurbishment project to the tune of $5 billion so as to cope with the modern day super-tankers and container ships.
The Nicaragua Canal
Even with the Panama Canal’s multi-billion dollar expansion project, it has been clear for some time that the waterway is struggling to cope with the demands placed upon it by an ever increasing global economy. Right from its inception in 2013, the idea of a second Central American canal, just 1,000 km north in Nicaragua was greeted favorably – that is with everyone except ecologists and Nicaraguan farmers.
The plan is to build the canal from the Punta Gorda river on Nicaragua’s Caribbean coastline, cutting across the mainland and then into Lake Nicaragua, from where it would cut through the Nicaraguan capital of Managua before reaching the Pacific Ocean through the mouth of the Brito River. The Nicaraguan Canal will be 278 km (173 miles) in length, almost four times the length of the Panama Canal, and twice the width.
As mentioned earlier, in March 2017 the Nicaraguan Supreme Court effectively ended the last strands of environmental opposition to the project now dubbed the Interoceanic Grand Canal, and work is finally set to begin later this year. The estimated period of construction is four years, so the Nicaragua Canal could be handling its first monster container ships as early as 2021.
2ndPassports.com’s Nicaragua CBI Program
2ndPassports.com have long been established as the market leaders in the second citizenship industry, and the company’s primary goal is to find the perfect CBI or Investor Visa program for people who are looking for a greater freedom of movement and increased business opportunities.
Right now one of the most exciting second citizenship locations in the world is Nicaragua, a country that is already heading in the right direction economically and touristical. The arrival of the Nicaragua Canal in a few short years will turn the country into an economical focal point and global business hub.
The quickest and easiest way of obtaining Nicaraguan citizenship is by CBI (citizenship by investment), and 2ndPassports.com are currently the exclusive agents for the Nicaraguan Citizenship by Investment program. For full details about the Nicaragua CBI program, as well as the benefits of acquiring Nicaraguan citizenship what is required of an investor, simply click on this link.
Wealthy individuals from the Middle East, Asia and Africa often find themselves restricted by their nationality and their passport, and the acquisition of second citizenship and resulting ownership of a considerably more powerful passport invariably proves to be a life changing occurrence. Thousands of investors take the plunge every year – why not you?
For more information on any of the CBI and Investor Visa programs on offer at 2ndPassports.com, feel free to contact us via email, WhatsApp or Telegram. If you prefer you can chat to one of our expert representatives directly – you can call us using our encrypted phone and Skype lines. All of our contact details are listed at the top of the 2ndPassports.com homepage, and all dealings are held in the strictest of confidence.
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