The citizenship by investment programmes which various countries around the world are offering to their investors is gaining popularity with every passing day. For the last ten years, these economic citizenship programmes have been considered by investors worldwide looking for a way to diversify their portfolios and plan their wealth. Such programmes provide numerous benefits to investors that they can’t find anywhere else.
Different nations worldwide are offering such programmes, but Dominica, St Kitts and Nevis and Saint Lucia, located in the Caribbean region, are known to provide the world’s best Citizenship by Investment Programme, as these countries, despite their small sizes, offer multiple benefits to their investors.
The Economic Citizenship Programme of Dominica, St Kitts and Nevis and Saint Lucia provides various benefits such as promising opportunities to plan and spread one’s wealth, a wide range of investment programmes, extending citizenship to the family, a high standard of living as well as enjoying the basic advantages which come along with residing in modern, diverse nations.
For providing these above-mentioned benefits, these nations have been given the top rank in the CBI Index, which is published by Professional Wealth Management (PWM) Magazine of Financial Times. The CBI Index is released every year in the month of August and is a thorough ranking system that evaluates operational CBI programmes worldwide. The programmes are assessed thoroughly and then gain ranking according to their efficiency.
There are nine pillars based on which this report is evaluated, and these pillars are the highest priorities for those looking for alternative citizenship.
These 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.
In the annual Index, Dominica has got the first position for the last five consecutive years. This year also, there are speculations that the nature isle of the Caribbean, Dominica, will once again secure the top ranking as the nation has been doing enough for development for its citizens and offers multiple opportunities to the investors can expand their business.
There are several reasons why Dominica can secure the first position once again, and a few among these 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
During the annual report of 2021, Dominica was not the only one to bag the first situation, but it was shared by St Kitts and Nevis as well.
Last year was the first time for the small island nation of St Kitts and Nevis to get the top spot. Both the countries got the top position for their due-diligence process, under which the citizenship by investment unit and an international independent third party firm conducts extensive background checks and assure that the alternative citizenship is given to only credible and legal investors.
Dominica and St Kitts and Nevis have provided alternative citizenship for the last twenty years and have adopted several new changes to meet the challenges.
Citizenship by Investment Programme:
Dominica: The nature isle of the Caribbean, Dominica has been offering alternative citizenship for applicants since 1993 and is renowned as the longest-running, safest and most secure CBI programme in the world. The Caribbean nation has been providing citizenship in exchange for major financial investment toward developing and uplifting the infrastructure of the country. The CBI programme has been contributing to helping Dominica to expand the nation’s economy and to meet the international market competition.
Dominica provides two investment options for their investors: Economic Diversification Fund (EDF) and Real Estate Investment Option.
The EDF option requires investors to invest in the country’s socio-economic development. This fund option has contributed to the overall development of roads, bridges, houses, schools, healthcare centres and hospitals. The investment under EDF begins from USD 100,000.
If the investors are planning to invest via the Real Estate Investment Option, they need to invest in government-approved real estate property. The investment for the same starts at USD 200,000.
St Kitts and Nevis: The smallest country in the western hemisphere, St Kitts and Nevis was the first country to launch the CBI Programme in 1984. The CBI Programme of the twin-island nation is the oldest yet most reputed worldwide. It is famous for providing citizenship to reputable people and their families through a rigid and efficient due diligence procedure.
The CBI Programme of the twin-island nation are devoted towards providing value and opportunities to applicants and citizens responsibly, contributing to the country’s social and economic success.
An applicant can apply for CBI Programme under the Sustainable Growth Fund, popularly known as Fund Option. The fund option was launched recently in 2018 and is known as the most affordable, direct route to apply for alternative citizenship. The funds are utilised to support infrastructure advancement, tourism development, social assistance and local entrepreneurship. The minimum investment starts from USD 150,000.