The countries which offered citizenship in exchange for a financial contribution have been emerging significantly among high-worth individuals nowadays. Due to the entitled merits, such as incredible wealth planning and portfolio diversification, investors across the globe are considering opting for the economic citizenship programmes as a plan B. The extraordinary and unique benefits offered by these programmes drove the investors to go for alternative citizenship.
Numerous countries are offering these kinds of programmes across the globe and providing several opportunities. But, the programmes of the Caribbean countries, including Dominica, St Kitts and Nevis and Saint Lucia gaining significant attention from investors with innumerable and profitable benefits. Due to the countless opportunities in these programmes, the countries have been placed as the world’s best across the globe.
Various benefits such as numerous investment opportunities, an incredible platform to plan the wealth significantly, the ability to add additional dependants under one application, quality of life, a peaceful and safe environment and enjoying the general benefits that come with living in modern, diverse countries, the CBI Programme of Dominica, St Kitts and Nevis and Saint Lucia have been placed as world’ best.
Due to these countless profitable opportunities and benefits, the above-mentioned countries have been top ranked in the CBI Index, published by Professional Wealth Management (PWM) Magazine of Financial Times.
What is CBI Index:
A comprehensive ranking system, the CBI Index, is known as the programme that evaluates operational citizenship by investment (CBI) programmes globally. Under the Index, these programmes are throughly evaluated and gain raking according to their efficiency. The Index is worked on the nine pillars that are considered the highest priorities for investors seeking to apply for economic citizenship. The nine pillars are Freedom of Movement, Standard of Living, Minimum Investment Outlay, Mandatory Travel or Residence, Citizenship Timeline, Ease of Processing, Due Diligence, Family, and Certainty of Product.
Every year, in the month of August, the CBI Index is released by the PWM Magazine, and the top rank has been secured by Dominica for the past five consecutive years. This year, it is evidently shown by the various speculation that Dominica will once again top the ranking due to enough development for the locals as it offers numerous opportunities to the investors to expand their businesses.
Some reasons why Dominica can secure the top position are:
• Low cost and affordable CBI for investors and their families
• New Biometric passport strengthening security standards
• Excellent property market attractive to invest in hotels
• Wise use of CBI funds in sustainable development
• Due diligence checks
Along with Dominica, St Kitts and Nevis shared the top position in the Index in the last year’s annual report. However, St Kitts and Nevis secured the position for the first time. Due to their due-diligence procedure, under which the CBI Unit and an international independent third party firm perform background checks and ensure that the alternative citizenship is granted to an honest and credible investor, both the countries bagged the first position.
Dominica: Launched in 1993, the Citizenship by Investment Programme of the small Caribbean country- Dominica is regarded as the world’s longest-running, safest and most secure.
The Caribbean country has been providing citizenship in exchange for significant financial investment toward the development and upliftment of the country’s infrastructure. The programme has been contributing to helping Dominica to expand the economy and to meet the international market competition.
Through the two investment options- Economic Diversification Fund (EDF) and Real Estate Investment Option, the investors can apply for alternative citizenship.
- Under the Economic Diversification Fund, popularly known as EDF, the investor(s) invest in the social-economic development of the country. This fund option has contributed to the construction of bridges, roads, houses, schools, as well as healthcare centres and hospitals. The investment under EDF starts from USD 100,000.
- If the investor(s) is planning to invest through the Real Estate Investment Option, they have to invest in government-approved real estate property. The investment starts from USD 200,000.
St Kitts and Nevis: In 1984, the twin-island Federation was established as the world’s first Citizenship by Investment Programme. The programme is the oldest yet most reputed CBI Programme. The Citizenship by Investment Programme is globally famous because it offers citizenship to reputable individuals and their families through a robust and efficient due diligence process. St Kitts and Nevis Citizenship by Investment programme are committed to delivering value and opportunities to investors and citizens alike in a responsible way, contributing to the social and economic success of the Federation.