News Americas, Basseterre, St. Kitts, 24 August 2022: The Caribbean nation of St Kitts and Nevis tops this year’s CBI Index rankings for offering one of the best Citizenship by Investment (CBI) programs in the world.
St Kitts and Nevis was assessed against 12 other countries with operational CBI programs which, in 2022, include Antigua and Barbuda, Austria, Cambodia, Dominica, Egypt, Grenada, Jordan, Malta, Montenegro, St Lucia, Turkey and Vanuatu.
The CBI Index, published by PWM Magazine, a publication of the Financial Times in association with CS Global Partners, is a rating system designed to measure the performance and attractiveness of global CBI programs across a range of indicators and its aim is to provide a rigorous and systematic mechanism for evaluating programs in order to facilitate the decision-making process for individuals considering them and to bring value to the CBI industry
The main methodological objective of the CBI Index is to isolate pillars that measure CBI program features and jurisdictional desirability. The nine pillars that make up this year’s CBI Index include: Freedom of Movement, Standard of Living, Minimum Investment Expenditure, Compulsory Travel or Residence, Citizenship Timeline, Ease of Processing, Due Diligence, Family and Security The product.
The country received full marks – 10 out of 10 in the pillars of Mandatory Travel or Residence, Term of Citizenship, Ease of Processing, Due Diligence, Family and Product Safety.
The Travel or Compulsory Stay pillar examines the travel or stay conditions imposed on applicants both before and after citizenship is granted.
St Kitts and Nevis, along with other Caribbean countries, have no travel or residency requirements for CBI applicants. This makes it easy for busy entrepreneurs to continue running their businesses and be eligible to obtain their second citizenship while not having to meet any minimum residency requirements.
St Kitts and Nevis scored the highest marks for the citizenship timeline – which looks at the average time taken for citizenship to be secured by the applicant – due to the Expedited Application Process where for an additional fee, an applicant can receive his citizenship within a maximum of 60 days instead of the standard processing time of approximately three months.
Ease of processing measures the end-to-end complexity of the CBI application process. St Kitts and Nevis makes the citizenship process easy and straightforward, the country has an official government website and a dedicated CBI unit. It has also removed burdensome application requirements such as interviews, language, cultural or background tests, proof of minimum business experience and proof of purchase of tangible or intangible assets.
The overall smoothness of the application process is a particularly important component, and the promise of a smooth, hassle-free process can generate willingness to commit to a program.
One of the areas where Caribbean nations really distinguish their programs is in the area of proper care. St Kitts and Nevis’ due diligence process is multifaceted and is undertaken by the country’s CBI unit, law enforcement and external third-party due diligence agencies from the UK and the US. This ensures that the process is rigorous and comprehensive, applicants are required to provide fingerprints or a biometric passport, police certificates from the applicant’s country of residence as well as their state of citizenship and comprehensive supporting information about the source of the applicant’s funds. .
The CBI Index recognizes that the growth of increasingly complex family relationships is driving investors to seek programs that allow for the inclusion of a more diverse range of family members in a primary application. St Kitts and Nevis maintains a perfect score for their family friendliness as, in addition to a main applicant, they allow the applicant’s spouse, children under 18 and over 18 in certain circumstances, siblings, parents and grandparents of the main applicant or their spouse to be included in an application.
The St Kitts and Nevis CBI program is one of the oldest in the industry, established in 1984, it assures investors of product safety. The CBI Index measures security across five different dimensions: longevity, popularity and notoriety, stability, reputation and adaptability – aspects that the St Kitts and Nevis program can score with confidence.
In the 2022 CBI Index, the Freedom of Movement pillar measures the relative strength of each country’s citizenship based on three equally weighted factors: the number of destinations to which a country’s passport allows unrestricted travel, the number of major business centers to which offers. access, and the extent to which a particular citizenship provides settlement rights in other nations. St Kitts and Nevis scored a seven out of 10 in this area as it offers visa-free or visa-free access to 156 countries.
The Minimum Investment Outlay pillar measures one of CBI’s most practical and key considerations: how much capital is required for the investor to become an eligible applicant for the program of their choice.
St Kitts and Nevis offers one of the most affordable routes to alternative citizenship, and although it ended its limited-time offer of $150,000 for a family of four at the end of December 2021, it did not affect its bottom line. five out of 10, as points are based on minimum investments for a single applicant.
The St Kitts and Nevis CBI program is a family-friendly pathway for those looking for a reputable and trusted program that prioritizes both its applicants and its citizens – the strict post-application due diligence process ensures that only families are approved honest hard working. Citizenship can also be passed down to future generations, giving investors who want to leave a legacy peace of mind.
Download the full CBI index here, to get further insight into the CBI industry and a full assessment of the CBI programs of the other 12 jurisdictions in the ranking.
- St Kitts and Nevis infographic
