The New Era Of Citizenship By Investment Programme
In this era of deglobalization, digital nomadism and living in the “new normal” , having a citizenship with the luxury of mobility, opportunity, and security has become a priority for many individuals. The interest in exploring alternative citizenship and residence options has increased. Furthermore, those who lost mobility during the pandemic became more eager to obtain a second citizenship. Hence, a new era for the Citizenship by Investment Programme is born.
2022-07-06 20:10:43 - VI News Staff
According to a study published in Migration Studies (Vink, 2019), the percentage of nations that permit dual citizenship has climbed from 33 per cent to 75 per cent in the recent half-century.
Since its introduction by St. Kitts and Nevis in 1984, the Citizenship by Investment Programme (CBIP) has evolved into a legitimate pathway for individuals and their families to obtain a second citizenship. Consequently, a number of countries have devised and launched their own citizenship programmes with the goal of further growing their economies.
Presently, fourteen nations offer CBIP, the majority of which are located in the Caribbean. And governments have said that the Citizenship by Investment Programme has been the lifeline for them to develop, improve, and diversify while remaining debt-free.
CBI Index
Organizations like the Professional Wealth Management (PWM) of Financial Times study the global trend and changes across multiple Citizenship programmes to give practical guidelines to prospective investors.
PWM established the CBI Index, a rating system designed to measure the performance and appeal of active programmes worldwide.
According to the CBI Index, “The current global crisis has led investors to explore alternative citizenship and residence options with a focus on healthcare and standard of living”.
Nine pillars constitute the CBI Index includes: 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.
And for five consecutive years, Dominica CBI has ranked number 1.
“Dominica once again promises, among other things, an affordable minimum investment outlay, a streamlined application process, and certainty to investors,” researcher James McKay said in the report.
Dominica CBI received an overall percentage score of 89%. With a perfect score in six of the nine pillars evaluated.