Dominica CBI becomes the best for fifth year, St Kitts and Nevis also on top

Dominica, for the fifth consecutive year, maintained the top position, but this time St Kitts and Nevis' CBI programme joined the suit.

2024-07-07 15:31:17

PWM Magazine of Financial Times once again released the CBI Index. Dominica, for the fifth consecutive year, maintained the top position, but this time St Kitts and Nevis' CBI programme joined the suit. For the first time in the history of the CBI Index, two Citizenship by Investment Programmes has secured themselves the tag of being the world's best such programme. Dominica received a six out of ten in the total scoring, while St Kitts and Nevis got a five. Around 14 countries across the Caribbean, Europe and Asia offer Citizenship by Investment Programmes. Dominica, St Kitts and Nevis both left behind twelve countries, including those in the Caribbean. The two island countries are now leading the billion-dollar industry in the world with exceptional excellence in the field. Click here to view CBI-Index-2021 While St Kitts and Nevis was the first country to introduce such a programme in 1984, it is now also the world's best and fastest programme. The CBI Index 2021 categorized all Citizenship by Investment Programmes on the basis of nine pillars, which included freedom of movement, the standard of living, minimum investment outlay, mandatory travel or residence, citizenship Timeline, ease of Processing, Due diligence, family and certainty of product.

Freedom of Movement: Freedom of movement within and between countries is of paramount importance to any individual seeking second citizenship. In the 2021 CBI Index, the Freedom of Movement Pillar measured the relative strength of each country's citizenship. The report said St Kitts and Nevis offers the greatest visa-free and visa on arrival access. At the same time, Dominica has been regarded as the only country on the list to get a vast extension of visa-free and visa on arrival countries in just two years.
Standard of Living: All countries in this tier exhibited similar scores across a range of different measures, such as life expectancy and GNI, but some notable differences include Montenegro's stronger performance in terms of relative safety. St Kitts and Nevis scored an eight while Dominica received recognition as the highest life expectancy 78.2 years and also a country to provide extensive freedom to citizens.
Minimum Investment Outlay: The CBI Index 2021 report said several jurisdictions altered their minimum investment thresholds for applicants, while Caribbean countries' CBI investments remained unchanged. The report recognized the minimum investment of $100,000 proposed by the Citizenship by Investment Programme of Dominica. The CBI Index mentioned how the exclusive offer on St Kitts and Nevis' CBI under the Sustainable Growth Fund achieved a higher success.
Mandatory Travel and Residence: Dominica, St Kitts and Nevis maintained a perfect score in the category of mandatory travel and residence. Both these countries do not require applicants to make a prior visit.
Citizenship Timeline: The report noted that St Kitts and Nevis continue to lead in the citizenship timeline category with its Accelerated Application Process (AAP) that fastens the processing under the Sustainable Growth Fund (SGF). With AAP, applications are processed in 60 days, but in some cases, it takes as little as only 45 days. Dominica also received a decent marking in the category, with its timeline being only 90 days long.
Ease of Processing: CBI Index 2021 report noted that Caribbean countries are offering the topmost ease to Citizenship by Investment Programme Applicants. As per the report, the region's CBI Units keeps their websites updated, making most information available online.
Due Diligence: Dominica, St Kitts and Nevis both have been very keen on securing their countries. Both countries conduct due diligence on all applicants and members over the age of sixteen to ensure they are not involved in any illicit activities. The CBI Index 2021 noted that both countries have been on top of the category since CBI Index's introduction in 2017.
Family: Dominica managed to secure a perfect nine in the category of family, while St Kitts and Nevis also remain on top. The report discussed the steps taken by the CIU of St Kitts and Nevis to widen the definition of dependent and allow applicants to include siblings (unmarried, childless and financially dependent on applicant aged 30 or under). The new changes in the CBI of Dominica also allow the applicant to add adult children, parents, grandparents, siblings under one application.
Certainty of Product: CBI of Dominica scored a ten in this category and is regarded as the most transparent and renowned programme. The report said that Dominica is using the funds in a very transparent manner to create a more resilient country. CBI Index Report 2021 further gave a scoring of nine to St Kitts and Nevis that also reflected the country's ability to adapt to present needs and to attract high numbers of investors.

Dominica, St Kitts and Nevis are now leaders of Citizenship by Investment Programmes across the globe. Two Caribbean countries are leading the industry by being the most transparent, easy processing and family-friendly programmes of their kind. The new stone in the crow of the Citizenship by Investment Programme of the respective countries are expected to attract more investors, contributing to the advanced infrastructure and development of the overall economies. Click here to view CBI-Index-2021 The investment options offered by the Citizenship by Investment Programme of Dominica at $100,000 ranks it in the category of minimum investment outlay. The Sustainable Growth Fund (SGF or Fund Option) continue to be an exceptionally fast route to the Citizenship by Investment Programme. It is the only country in the segment to offer Accelerated Application Process (AAP), which allows the applications to get processed in 60 days and in some categories in only 45 days.

Monika Walker

Monika Walker is an experienced journalist specializing in global political developments and international relations. With a keen eye for accuracy and analysis, Monika has been reporting for over a decade, bringing stories to light that matter to readers around the world. She holds a degree in International Journalism and is passionate about giving a voice to underrepresented communities through factual reporting.