PWM releases CBI Index 2021, Dominica, St Kitts and Nevis listed on top

PWM releases CBI Index 2021, Dominica, St Kitts and Nevis listed on top
PWM releases CBI Index 2021, Dominica, St Kitts and Nevis listed on top

The Professional Wealth Management Magazine has published the CBI index 2021 in its fifth edition of the ranking, in which the Caribbean islands – Dominica and St Kitts and Nevis has topped the list. 

For the past 4 years, Dominica has maintained its position on top, while this time, St Kitts and Nevis has joined the rank one club for the first time. 

CBI provides the comprehensive data and analysis of the 14 jurisdictions active Citizenship by Investment programmes. 

Worldwide, there are only 14 nations that provide the Citizenship by Investment Programme, which includes – Antigua and Barbuda, Cambodia, Saint Lucia, Saint Kitts and Nevis, Dominica, Turkey, Vanuatu, Bulgaria, Austria, Egypt, Malta, Grenada, Jordan and Montenegro. 

The method of the CBI index overview the performance on the pillars that satisfactorily measure programme features and jurisdictional desirability; the pillars are – 

  1. Freedom of Movement -As per the report, the Citizenship of the Caribbean countries of Antigua and Barbuda, Grenada, St Kitts and Nevis, St Lucia offers the applicants the greatest movement. They score seven, while Dominica scores six. Dominica was the Caribbean nation with the greatest increase in its visa-free and visa-on-arrival offering for the second year in a row — perhaps heralding a better overall pillar score for 2022. 
  2. Standard of Living – In the 8th position are several groups of countries, including Dominica, Egypt, Jordan, St Kitts and Nevis and Vanuatu; they all scored a five. While, the Caribbean countries attain higher for freedom, GNI and life expectancy, with Dominica in particular scoring highly with a life expectancy of 78.2 years and with a perfect freedom score.
  3. Minimum Investment Outlay -With a minimum contribution amount of US$100,000, Dominica and St Lucia continue to offer the lowest threshold of all 14 jurisdictions assessed and receive a score of 10. Grenada and St Kitts and Nevis’ minimum contributions remain at US$150,000.
  4. Mandatory Travel or Residence -St Kitts and Nevis, Dominica secured 10 points. The nations such as – Austria, Cambodia, Montenegro, Turkey and Vanuatu requires applicants to make one trip to their new country of citizenship. While for some other countries, applicants need to make at least one trip to the country to complete the procedures to obtain a National ID Card, and for some, they have to take the oath of allegiance in front of a Commissioner. 
  5. Citizenship Timeline – In this factor, St Kitts and Nevis have scored 10, whereas Dominica has secured 9 points. This factor shows the average time taken to taken by the applicant to ensure citizenship. 
  6. Ease of Process – Dominica ranked ten for its continued commitment to ensuring the CBI process is easy and straightforward. The CBI Unit works to maintain accessible, up-to-date programme websites, and by this, the applicants do not get confused.
  7. Due Diligence – In this pillar, St Kitts and Nevis and Dominica have scored 10. This pillar focuses on each nation’s commitment to ensure that their programme remains transparent and effective at evaluating potential candidates for citizenship. 
  8. Family – Both the Caribbean nations secured 10 points. The Family Pillar covers the extent to which investors can get citizenship with their immediate and extended family. The report stated that in the 2021 CBI Index, nations are only awarded points in the Family Pillar if a particular family member gets citizenship at the same time as the main applicant.

9. Certainty of Product – In this pillar, Dominica has scored 10. St Kitts and Nevis have scored 9. For the second year, Dominica achieves a score of 10 in the Certainty of Product Pillar — a result of its transparent and highly renowned programme. At 28 years old and with a track record of good governance. The report reflects St Kitts and Nevis’ ability to adapt to present needs and to attract high numbers of investors. St Kitts and Nevis could, however, provide more guidance on its new investment options.

 

PWM releases CBI Index 2021, Dominica, St Kitts and Nevis listed on top

Both the nations have secured 89 points as a total from the CBI index. 

Other than this, the position of the other countries are – 

Country Rank Total points

1- Dominica       80

1- St Kitts          80

       and Nevis              

3- Grenada        78

4- St Lucia        74

5- Antigua        69

     and Barbuda         

6- Vanuatu       66

7- Malta           58

8- Montenegro 55

8- Turkey         55

10- Egypt         49

11- Bulgaria    48

12- Austria      47

13- Jordan      46

14- Cambodia 44 

On seeing their nations top on the list, the Prime Ministers of both the Caribbean countries have expressed their immense joy. 

Roosevelt Skerrit, the Prime Minister of Dominica, cited, “Those who become Dominican citizens are considered a part of our family. They help build our roads, hospitals and schools through your investment in our CBI Programme. 

While Ambassador Emmanuel Nanthan – Head of the Citizenship by Investment Unit (CBIU) in Dominica, asserted, “It is of great honour to see that Dominica came out on top once again. Of course, it is not a surprise to us as we lead and set the example for excellence in the investment immigration industry. It was good to see the reward for it.” 

St Kitts and Nevis Prime Minister – Dr Timothy Harris cited, “As the oldest and most established citizenship by investment programme we are pleased to have been recognised as the best by this prestigious report. We have long been industry leaders, and our trusted programme reflects the importance of a stringent due diligence process.”