CBI Index unveiled with theme: 'Transparency Meets Transition'

The 2024 CBI Index has once again revealed the top-ranking countries for Citizenship by Investment (CBI) programmes worldwide, spotlighting over 12 jurisdictions across the globe. Released under the theme 'Transparency Meets Transition: A CBI Reset', the annual report provides a comprehensive analysis of the challenges and opportunities within the CBI industry and the sector’s continued efforts toward transparency and collaboration.

For the fourth consecutive year, St. Kitts and Nevis continues to lead the global rankings, with an impressive overall score of 84 per cent, followed by Dominica at 80 per cent, Grenada at 77 per cent, and Saint Lucia at 74 per cent. As in previous years, the Caribbean nations dominate the CBI Index, with four of the top five positions held by these island nations. The CBI Index report highlights that "The Caribbean Five retain their leading rankings for the CBI Index 2024, reflecting a good balance of processing efficiency, vetting, and global mobility power."

European nations such as Malta, Türkiye, and Austria also feature in the top ten, showcasing the global diversity and competitiveness of CBI programmes. Notably, Türkiye moved up to seventh place with a score of 63 per cent, marking an improvement from its eighth position in the previous year’s Index. Meanwhile, Egypt held its position at ninth, with a slight increase to 59 per cent, and Jordan overtook Cambodia to secure eleventh place.

This year’sunderscores the critical importance of due diligence and compliance within the CBI industry. The report stresses that “Comprehensive due diligence and compliance are imperative within the CBI industry. Countries of respective programmes have tailored compliance processes to address the complexity of applicants to ensure that vetting remains within the parameters of the regulations that govern the programmes.”

The Index also highlighted the growing geopolitical pressures affecting the industry, prompting the need for more robust and transparent processes. The 2024 report suggests that adaptable programmes are the most likely to thrive in such an environment, pointing to the Caribbean region as a leading example of this adaptability.

One of the most notable developments in the 2024 CBI Index is the Memorandum of Agreement (MoA) between the Caribbean Five – St. Kitts and Nevis, Dominica, Grenada, Saint Lucia, and Antigua and Barbuda. This landmark agreement has harmonized practices among these nations, including the introduction of minimum investment thresholds of US$200,000, ensuring greater consistency and transparency across the region.

“By facilitating a region-wide approach to CBI, the MoA ushered in a new era of collaboration and consistency, forging a likeminded approach among the five OECS CBI countries,” the report states.

The CBI Index 2024 emphasises that the programmes best positioned to thrive in the future are those that can quickly adapt to changing global standards and geopolitical dynamics. “In the CBI industry and otherwise, adaptations are often done best together,” the report asserts, further showcasing how collaboration within the Caribbean region has set a precedent for the future of CBI programmes globally.