Dominica retains top ranking in 2023 CBI Index for seventh consecutive year

The Citizenship by Investment Programme of Dominica retained its lead in the 2023 CBI Index with the top scores for seventh consecutive year

Dominica retains top ranking in 2023 CBI Index for seventh consecutive year
Dominica retains top ranking in 2023 CBI Index for seventh consecutive year

Roseau, Dominica: The Citizenship by Investment Programme of Dominica retained its lead in the 2023 CBI Index with the top scores. For the seventh consecutive year, the country secured its top ranking in the index which was featured in the Financial Times.

Launched on Thursday, September 14, 2023 the 2023 CBI Index ranked Dominica as the world’s #2 CBI Programme. It secured top scores in five out of the nine pillars of excellence with a perfect 10 in three and nine in two pillars.

While retaining its top ranking, Dominica showcased its commitment in strengthening the Citizenship by Investment Programme. However, the country has slightly dropped from one position for the first time in the history.

The CBI Index report added that despite falling to second place with a score of 75 points, Dominica is also making efforts to comply with international demands to enhance its vetting, due diligence, and transparency levels while simultaneously ensuring the long term health of the programme.

Download the full report here

Dominica has introduced additional enhanced due diligence procedures for certain jurisdictions instead of issuing outright bans which would otherwise impact Programme revenue.

The Citizenship by Investment Programme of St Kitts and Nevis has been ranked “World’s No.1” in the CBI Index 2023 for the third consecutive year. While, the third position was occupied by Saint Lucia in the report.

Dominica secured the second position with 83 percent. The Caribbean CBI Programmes have retained their lead in the 2023 CBI Index.

While the steady crescendo of international regulatory pressure on the industry reached its zenith in 2023, the performance of Caribbean programmes across the nine pillars of the CBI Index continues to reflect their affordability, simplicity, and efficiency. 

-CBI Index 2023

The CBI Index 2023 scrutinizes the Citizenship by Investment Programme which in 2023, including:  he CBI Index assesses all countries with operational CBI programmes, which, in 2023, include the following 12 nations: Antigua and Barbuda, Austria, Cambodia, Dominica, Egypt, Grenada, Jordan, Malta, St Kitts and Nevis, Saint Lucia, Türkiye, and Vanuatu.

The countries have been accessed with the nine pillars of excellence and the top scorers gained the highest position. The countries have been evaluated by these nine pillars while giving scores in the ten marks.

Top rankings of Dominica in the pillars of excellence

Minimum Investment Outlay

The Minimum Investment Outlay Pillar measures one of the most practical and foremost considerations of CBI: how much capital is required for the investor to become an eligible applicant for the programme of their choosing.

Dominica achieved a perfect score of 10 points in the Minimum Investment Outlay Pillar. Within that group, Dominica and Saint Lucia maintain the industry’s lowest threshold with US$100,000.

Mandatory Travel or Residence

The Mandatory Travel or Residence Pillar examines the travel or residence conditions imposed on applicants both before and after the granting of citizenship. Often busy with running a business or international travel, global citizens have little time to fulfil minimum stay requirements.

There are no changes from the 2022 CBI Index to scores under the Mandatory Travel or Residence Pillar. The Caribbean jurisdictions of Dominica, Grenada, St Kitts and Nevis, Saint Lucia and Jordan have no travel or minimum residency requirements, and all achieve the maximum score.

Download the full report here

Ease of Processing

The Ease of Processing Pillar measures the end[1]to-end complexity of the CBI application process. In some jurisdictions, the application process can be a labour-intensive task that is time-consuming for the applicant; in others, it is streamlined, and the applicant receives clear directives on how to proceed.

The Caribbean jurisdictions of Dominica secured top rank for the Ease of Processing Pillar with a perfect score of 10. This reflects the programmes’ ability to balance the administrative demands of the application process with quick and efficient processing.

Citizenship Timeline

The Citizenship Timeline Pillar looks at the average time taken for citizenship to be secured by the applicant. The time at which application forms and supporting documentation are processed, and the steps involved in approving an application, vary between programmes.

A diverse range of countries rank in first position for the Citizenship Timeline Pillar, including Dominica, Jordan, Saint Lucia, and Vanuatu, all of which have programme applications that can be completed in less than four months.

Due Diligence

The Due Diligence Pillar focuses on each nation’s commitment to ensuring that their programme remains transparent and effective at evaluating potential candidates for citizenship. It is, therefore, a measure of each programme’s integrity.

The Citizenship by Investment Programme of Dominica secured second position in the due diligence pillars of excellence with a perfect score of 9.

Dominica Citizenship by Investment Programme

Dominica offers citizenship to the investors under the Citizenship by Investment Programme with an investment of US$100,000 onwards. It offers numerous opportunities to the investors such as citizenship for family, business opportunities and portfolio diversification.

As per the CBI Index report, in terms of real estate, the Commonwealth of Dominica stands out as having one of the most successful CBI real estate offerings. Dominica’s CBI Programme – ranked second in the 2023 CBI Index – is a longstanding and trusted programme.

“When the country introduced the real estate investment route, the Government was adamant about utilising the option to grow their tourism offering through hotel development, while concurrently ensuring that the investor received a good return,”CBI Index 2023.

The report added that Dominica, investors interested in real estate buy into government-approved hotel developments through share schemes. The Government only approved a limited number of developments to safeguard the investors and the country.

The country benefitted significantly from the real estate option, with at least three internationally renowned hotel brands choosing to establish hotels on the verdant island.