Caribbean nation’s CBI Programmes secure highest ranking in CBI Index 2022

The Financial Times‘ Professional Wealth Management (PWM) Magazine published its sixth edition of “A Guide to Global Citizenship: The 2022 CBI Index” on August 22. For two Caribbean nations, Dominica and St Kitts and Nevis, the CBI Index this year has once again been outstanding as they offer the world’s oldest and long-term Citizenship by Investment Programmes.

Citizenship by Investment Programmes of Dominica and St Kitts and Nevis was able to hold onto the top spots in the Index. The CBI Index recognized Dominica, St Kitts and Nevis as having the most exemplary economic citizenship programmes in the world when it was published on Monday.

The high-net-worth individuals are keener to invest in government-approved real estate in return for authorized immigration status, so this programme is more popular among them.

Read Here detailed report of CBI Index 2022

Dominica has rated first in the CBI Index 2022 for the sixth time in a row, whereas St Kitts and Nevis held the top position for the second consecutive year.

The CBI Index released by PWM Magazine of Financial Times outlined that St Kitts and Nevis along with Dominica has shared a similar place in 2022 CBI Index report, it is the highest ranked CBI Programme for the current second year.

Besides this, another Caribbean nation, Saint Lucia- the newest member in the CBI Industry, has made considerable progress and managed to secure third place after ranking fourth the year before. Saint Lucia has replaced Grenada in the CBI Index Report 2022.

The 2022 CBI Index Report contained 13 countries, of which 5 were Caribbean countries, and all of them achieved a top-five ranking. The top three spots in the CBI Index 2022 were bagged by the Caribbean island nations, surpassing ten other nations that offered similar programmes in the Caribbean, Europe, Asia, and beyond.

Dominica continues to retain a perfect score of 10 in six of the nine evaluation pillars and holds the top spot in the overall rankings for the sixth consecutive year. Dominica’s Citizenship by Investment Programme received 81 points, or 90%, in the assessment. The programme earned first place in the following six of the CBI Index 2022’s nine pillars.

The CBI Index report highlighted the efficiency of the Citizenship by Investment Programme of Dominica and mentioned the strength of the programme, including the strong due diligence, a smooth application process and sustainable development projects, which is assisted by the CBI funds.

In addition, St Kitts and Nevis, Dominica and Saint Lucia have scored seven points in the pillar “Freedom of Movement.” According to the report, St Kitts and Nevis have access to most countries with visa-free or visa-on-arrival policies. Dominica has given access to 14 business hubs, following Saint Lucia, with 15 of the 20 major business centres evaluated in the 2022 CBI Index.

Saint Lucia is doing well on the Standard of Living pillar, as it has a score of six, followed by Dominica and St Kitts and Nevis, who came in fifth. The nature isle of the Caribbean has the greatest life expectancy of all the nations.

In the Minimum Investment Outlay pillar, Saint Lucia and Dominica have secured the top position, with ten points, whereas St Kitts and Nevis was on 9. All three Caribbean nations have received the perfect score because of the minimum investment.

In the Mandatory Travel and Residence Pillar, St Kitts and Nevis, Dominica and Saint Lucia have been on top. Due to their incredible performance, they have secured a score of ten.

With a perfect score of 10, St Kitts and Nevis hold the top spot in the “Citizenship Timeline” pillar. With three months of processing time, Dominica and Saint Lucia are in second place. The countries have a score of 9.

For the sixth consecutive year, the Caribbean nations- Antigua and Barbuda, Dominica, Grenada, St Kitts and Nevis, and Saint Lucia maintained a perfect score of 10 for the Ease of Processing pillar. It is based on the simple application processing procedures provided by the majority of Caribbean CBI jurisdictions.

Along with this, in the CBI Index report 2022, the citizenship by investment programme of St Kitts and Nevis and Dominica has been well accepted by the richies around the globe because of the robust due diligence process. Both the Caribbean nation has scored ten in the CBI Index, followed by Saint Lucia, which has scored nine in this pillar.

In the Family pillar, all of the nations, St Kitts and Nevis and Dominica have gained the top position, and Saint Lucia has been on the ninth score. As per the report, Dominica, St Kitts and Nevis and Saint Lucia have achieved a similar place as compared to the previous report.

Moreover, the report added that Dominica and St Kitts and Nevis had secured the highest place in the Certainty of Product Pillar because of the longevity, popularity, renown, stability and adaptability of the programme.

With Saint Lucia’s Citizenship by Investment Programme reaching the third spot this year, the CBI Index substantially changed. Fourth in the Index, the nation made one progress, and the development coincided with the shift in the administration.

Saint Lucia’s Citizenship by Investment Programme earned the third slot as it maintained its top rank in three of the nine pillars of the CBI Index 2022.

The Citizenship by Investment Programme of Saint Lucia has scored 78 points overall and 87 percent in the report. Saint Lucia topped in the three pillars, which are, Minimum Investment Outlay, Mandatory Travel or Residence and Ease of Processing.

Dominica and Saint Lucia maintain the top spot with a most acceptable score of 10 due to the minimum investment outlay they offer of US$100,000.

The CBI Index report released by the PWM Magazine gave Dominica and St Kitts and Nevis top score with a 90 percent overall percentage. On the other hand, Saint Lucia received a 67 percent score.

In order to get citizenship for themselves and their family, an investor can donate a certain amount of money to a government fund that is non-refundable to any of the Caribbean countries mentioned in the report.

Nine pillars are often used to determine rankings. The researcher claims that the Index, introduced in 2017, also considers global social and governmental changes. Investors may make wise decisions depending on their needs by carefully examining each programme’s characteristics with the aid of the Index report.