In an article from the Financial Times’ Professional Wealth Management (PWM) CBI Index last month, the publication ranked the Commonwealth of Dominica and St. Kitts and Nevis as the two best Citizenship by Investment Programs (CIPs) in the world.
In fact, the Caribbean now dominates the top 5 of the 12 positions for second citizenship and passport schemes also found in Europe and Southeast Asia. The CBI Index, which reviews and ranks Citizenship by Investment Programs based upon criteria including overall affordability and processing, gave the Commonwealth of Dominica a final score of 90% due to the programs low investment amounts and fast-track application processing time, with St. Kitts and Nevis trailing close behind with 88%.
Although the Commonwealth of Dominica scored slightly higher, the Professional Wealth Management CBI Index noted that St. Kitts and Nevis’ citizenship program retains a higher investment threshold and has gained global prominence for the program’s transparency and trustworthy reputation. Following closely was Grenada with a score of 85%, with Antigua and Barbuda and St. Lucia scoring at 78% and 76% respectively.
In addition to affordability and integrity, the CBI Index also ranked Citizenship by Investment Programs in hallmark areas such as Freedom of Movement, Ease of Processing, Standard of Living, Due Diligence, Citizenship Timeline, and Mandatory Travel or Residence.
According to the CBI Sub-Index categories, the Commonwealth of Dominica, St. Kitts and Nevis, Grenada, and St. Lucia all received full marks for Mandatory Travel or Residence criterion. At present, Caribbean Citizenship by Investment Programs (with the exception of Antigua and Barbuda) do not require applicants to visit or live in their chosen country to acquire or maintain citizenship. Under the Citizenship Timeline Sub-Index, St. Kitts and Nevis scored the highest among Caribbean options, with the Commonwealth of Dominica, Antigua and Barbuda, St. Kitts and Nevis, and Grenada achieving top scores for Ease of Processing. Perfect scores were also given to St. Kitts and Nevis and the Commonwealth of Dominica under the Due Diligence sub-category.
These findings come as no surprise, as government leaders and Caribbean Citizenship by Investment Unit (CBIU) administrators are taking great strides to collectively improve transparency and boost cooperation among the islands’ second citizenship and passport programs.
While Caribbean Citizenship by Investment Programs may not offer the same degree of travel freedom as their European counterparts (Caribbean visa-free and visa-on-arrival access totals 120 to 133 countries worldwide depending on location, as opposed to more than 150 countries with European citizenship), obtaining a second passport in the Caribbean has quickly become the preferred route in the global citizenship and residency market—and for many reasons.
First, Caribbean Citizenship by Investment Programs offer foreign investors affordability like no other: for a minimum investment of USD $100,000, the Commonwealth of Dominica and St. Lucia grant citizenship and passports in an average of 3 months. For USD $200,000, qualified investors and their family members can obtain citizenship in Antigua and Barbuda or Grenada, whereas St. Kitts and Nevis offers citizenship for a minimum investment of USD $250,000. By comparison to European Citizenship by Investment Programs, which require minimum investments ranging from EUR 1.15 million to EUR 10 million, Caribbean programs are the best options for those seeking more economical immigration solutions.
Second, application processing for all Caribbean Citizenship by Investment Programs range from 2-4 months on average, as opposed to 12 months or more in Europe. This is especially important for those whose circumstances require faster immigration solutions, such as foreign nationals currently residing in politically or economically unstable countries.
Lastly, applicants to Commonwealth of Dominica, St. Kitts and Nevis, Grenada, and St. Lucia’s Citizenship by Investment Programs are under no obligation to physically reside in their chosen country prior to or after citizenship is granted. As stated before, Antigua and Barbuda is the one exception which requires successful applicants to spend 5 days on the dual island out of a 5-year period.
These are just a few out of several reasons why Caribbean second citizenship and passport schemes have ranked among the world’s best, which includes overall affordability, fast-track processing times, and zero residency obligations for qualified investors and their families. If you are interested in obtaining citizenship and a passport in the Commonwealth of Dominica, St. Kitts and Nevis, St. Lucia, Grenada, or Antigua and Barbuda, contact our office today to discuss your options with one of our immigration professionals.
To view our Citizenship by Investment Comparison Table, please click here.
For more information on the Commonwealth of Dominica’s Citizenship by Investment Program, please click here.
For more information on St. Kitts and Nevis’ Citizenship by Investment Program, please click here.
Fill out our Free Assessment to see if you qualify for any of the immigration programs offered.