St. Kitts and Nevis has once again been ranked as the "Best Citizenship by Investment Programme" in the 2024 CBI Index. Unveiled last Wednesday, the CBI Index is a global benchmark for evaluating economic citizenship programmes, assessing them based on nine distinct pillars.
The 2024 report highlights the Caribbean region's continued leadership in the CBI sector, with island nations occupying the top five positions. Dominica, Grenada, and Saint Lucia follow closely behind St. Kitts and Nevis, with scores of 80%, 77%, and 74%, respectively.
The CBI Index aims to provide value to the CBI industry by offering a practical, data-driven tool for appraising programmes and facilitating decision-making for individuals considering them.
The Index assesses all countries with operational CBI programmes, which in 2024 include the following 12 nations: Antigua and Barbuda, Austria, Cambodia, Dominica, Egypt, Grenada, Jordan, Malta, St. Kitts and Nevis, Saint Lucia, Türkiye, and Vanuatu. With North Macedonia’s much-publicized programme still not operational, Egypt remains the latest addition to the CBI Index after launching in 2020.
“The ‘Caribbean Five’ retain their leading rankings for the CBI Index 2024, reflecting a good balance of processing efficiency, vetting, and global mobility power. However, the top-line scores mask the significant changes that have occurred over the past 12 months for these CBI nations,” the CBI Index 2024 report states.
The report praised St. Kitts and Nevis’ Citizenship by Investment Programme for spearheading the signing of a significant Memorandum of Agreement (MoA) to establish a minimum investment threshold for Caribbean CBI programmes.
“As in the past, St. Kitts and Nevis has taken a leadership role on regulatory matters and demonstrated a commitment to implementing MoA directives — a factor that played a role in regaining the top spot in this year’s CBI Index,” the report emphasized.
Addressing regional integration, the CBI Index added that adaptations are often best implemented collectively, noting that the Caribbean serves as the best example of regional cooperation related to CBI programmes.
Furthermore, the report discussed the importance of comprehensive due diligence within the CBI industry, stating, “In an ever-changing world affected by international affairs and industry shifts, only adaptable CBI programmes will remain viable. By continually assessing new information, standards, and methods for collaboration, adaptable CBI programmes can stay ahead of their more stagnant peers.”
