LONDON (STL.News) – The Professional Wealth Management (PWM) magazine – a publication from the Financial Times – released its newest edition of the CBI Index. Every year, the special report ranks all citizenship by investment (CBI) programmes in the world against seven pillars considered most important to investors seeking second citizenship. This year, the independent study found that Caribbean countries filled the top five positions, ahead of EU member states like Austria, Malta or Cyprus.
FT experts awarded Dominica the number one spot for the third consecutive year, scoring it with full marks in five pillars. “Dominica emerged once more as the country with the world’s best citizenship by investment programme, combining extensive due diligence with efficiency, speed, affordability, and reliability,” comment the authors. Qualifying contributions start at US$100,000 for single applicants. Alternatively, PWM says that “Dominica’s real estate option has flourished”, requiring minimum investments of US$200,000 in CBI-approved hotels and resorts. Notably, the reputable CBI Programme is credited for significantly supporting Dominica’s feat to become “the world’s first climate-resilient nation”, as pledged by Prime Minister Roosevelt Skerrit.
In 2019, industry pioneer St Kitts and Nevis increased its overall score by four points, improving its due diligence standards while it “maintained its upward trajectory regarding visa-free and visa-on-arrival offerings.” The country received top marks in three pillars, after streamlining its application processes due to its popular fund option. The Sustainable Growth Fund, introduced by Prime Minister Timothy Harris last year as the most straightforward investment channel, requires a minimum contribution of US$150,000 for an individual or US$195,000 for a family of four.
Industry newcomer St Lucia rocketed to fourth place within three years of activity, moving one position higher compared to 2018. It achieved this by “improving its scores for freedom of movement, citizenship timeline, and due diligence.” St Lucia offers a more diverse choice of investment channels, currently counting four options. The study awarded the popular honeymoon destination 10/10 points for its affordable minimum investment outlay of US$100,000 via the National Economic Fund, and yet not imposing any mandatory travel or residence requirements on citizenship applicants.
CS Global Partners – the London-headquartered legal advisory holding the government mandates to promote the CBI programmes offered by Dominica and St Kitts and Nevis worldwide, and St Lucia in Far East Asia – congratulates all three countries on their industry leadership and continued improvements, especially as regards higher due diligence standards and tangible impact on local residents. “We are very proud of all the countries we closely work with for performing exceptionally well in the 2019 CBI Index, and we continue to focus on finding win-win solutions for both globally-minded individuals and native citizens,” comments Paul Singh, CS Global Partners Director.
The special report evaluated all 13 CBI programmes currently available worldwide. Created by independent researcher James McKay, the CBI Index represents the most reliable independent source that objectively compares all active CBI programmes, and analyses the current and future industry trends.