2024 CBI The index reveals the leading countries for Citizenship by Investment (CBI) programs, featuring more than 12 global jurisdictions.
This year’s edition, themed ‘Transparency Meets Transition: A CBI Reset’, took an in-depth assessment of the evolving landscape of the industry, highlighting both the challenges and opportunities facing the sector, along with the ongoing quest for transparency and collaboration. Highlighted.
For the fourth consecutive year, Saint Kitts and Nevis Citizenship by Investment (CBI) took the top spot in the industry by earning an impressive overall score of 84 percent.
Dominica retained its second position with a score of 80 per cent, its second year in this rank. Grenada took third place with 77 percent Saint Lucia and Antigua and barbuda Both of them scored 74 percent marks, standing fourth and fifth respectively.
“The industry is in a period of transformation, with greater emphasis being placed on stronger regional collaboration, Due diligenceContinuous program improvement, and international cooperation,” CBI Index 2024.
Caribbean five dominate charts
The latest report revealed that five Eastern Caribbean countries offering Citizenship by Investment (CBI) programs have dominated the top rankings, taking all five top spots.
Praising the Caribbean islands for consistently maintaining its top position among the 12 jurisdictions, the CBI Index states, “The Caribbean Five maintains its leading ranking for the CBI Index 2024, once again reflecting its good balance of processing efficiency, investigation and global mobility power.”
In contrast, European programs including Malta, Turkey and Austria also performed well and placed high in the rankings.
Turkey’s CBI program ranked 7th with a score of 63%, while Egypt reached 9th place with 59%. Both programs improved compared to the previous year, with Turkey moving up one place and Egypt increasing its score by two percentage points.
Jordan and Cambodia conclude the rankings, with Cambodia falling to twelfth place this year, having previously been overtaken by Jordan. Cambodia’s score of 49% indicates a slight decline in its performance.
However, while India does not offer second citizenship, the Overseas Citizen of India (OCI) card of India offers a unique opportunity to persons of Indian origin to maintain their connection to the country while enjoying the benefits of multiple entry and multi-purpose visas. This allows them to visit India frequently and participate in various activities without the need for a second citizenship.
CBI Index 2024 addresses due diligence
One of the important issues addressed by CBI Index 2024 is ‘Due diligence’ In citizenship by investment industry.
According to the index, “High standards of compliance, due diligence and advanced regulations are transforming this industry, with transparency coming to the fore.”
The index also notes that extensive due diligence and compliance are important within the CBI industry and that countries with related programs have designed compliance processes to address the complexity of applicants to ensure that programs are controlled. The investigation must remain within the parameters of the rules.
nine pillars
This year’s CBI Index is based on nine pillars of excellence, which form the foundation of the entire ranking system.
These pillars include standard of living, freedom of movement, investment options and limits, mandatory travel or residence, citizenship timeline, ease of processing, due diligence, family and product certainty.
Saint Kitts and Nevis emerged as the top performer by achieving a perfect score of 10 across four key pillars: essential travel or residence, ease of processing, due diligence and product certainty.
Malta earned the highest score for standard of living with nine points, due to its strong performance in sub-indicators such as relative security, life expectancy and freedom.
Malta and Austria both led the freedom of movement pillar with a perfect score of 10, while the Caribbean nations of Saint Kitts and Nevis, Antigua and Barbuda, Saint Lucia and Grenada came second with a score of seven.
In the Investment Options and Borders column, Antigua and Barbuda, Egypt and St. Lucia received the highest score of 9, while St. Kitts and Nevis followed at 8.
Dominica, Grenada, St. Kitts and Nevis and St. Lucia all top the essential travel or residence column, each scoring 10 points.
Citizenship timeline column, for Dominica, Jordan, and vanuatu Ranked first due to its application processing time of four months.
Dominica, Grenada and Saint Kitts and Nevis shared the top rank with Malta in terms of ease of processing.
Saint Kitts and Nevis stood alone at the top of the due diligence pillar, one of the most important categories, with a perfect score of 10.
Antigua and Barbuda and Grenada were recognized as having the most family-friendly programs for 2024, which includes siblings, parents and grandparents of both the main applicant and their spouse.
Finally, Saint Kitts and Nevis was the only country to receive a perfect 10 in the certainty of product pillar, reflecting its rapid response to international pressures on Caribbean CBI programs.
Important changes in CBI industry
The CBI Index highlights the growing importance of adaptability in Citizenship by Investment (CBI) offerings, noting that a number of changes have been implemented this year to ensure programs remain fit for purpose amid changes in global events, industry expectations and standards. Have been done. These adaptations include regional integration, adjustments to investment limits, and improvements in compliance and due diligence.
“The Citizenship by Investment (CBI) industry has seen many ups and downs this year, but two key themes have emerged: transition and transparency,” the CBI Index said.
According to the index, one of the most significant changes in the industry was the introduction of Memorandum of Agreement (MOA). it MOA The 2024 index exemplified the central theme: where transparency meets transition.
The report notes that the MOA has harmonized practices across the five Caribbean CBI programs, established minimum investment thresholds, facilitated information sharing among unit heads, and established uniform operating standards. The agreement mandates a minimum investment limit of US$200,000, providing greater stability in program costs.
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