Citizenship by Investment Index (CBI) released its latest report ranking the best countries where individuals from any nationality including Nigeria can invest under the Citizenship by investment programmes.
The number of countries ranked were 12 in number with Caribbean Island nations obtaining the top five slots.
As Nairametrics earlier reported, Citizenship by investment programs is a popular option for those seeking a second passport with the benefits of dual citizenship.
This can be attained by investing in real estate within a desired country that provides a streamlined route to citizenship.
One notable advantage of these programs is the opportunity to reside, work, and pursue education in the host nation, along with the added perk of visa-free travel to more than 100 countries worldwide.
How the CBI Index rated the countries
CBI Index is a rating system designed to measure the performance and appeal of global citizenship by investment (CBI) programs across a diverse range of indicators and measures.
According to James McKay, creator of the CBI Index, and an independent research consultant with expertise in global trend analyses,
- “The index is a data-driven and practical tool for appraising programs and facilitating the decision-making process for individuals considering them”.
A total of 7 indicators were chosen due to their relevance and comprehensiveness of measurement, and they include:
- Standard of Living
- Freedom of Movement
- Minimum Investment Outlay
- Mandatory Travel or Residence
- Citizenship Timeline
- Ease of Processing
- Due Diligence
- Family
- Certainty of Product
Caribbean nations still retain top spots
This year, St Kitts and Nevis retained the top spot, with Dominica, Grenada, Saint Lucia, and, Antigua and Barbuda, all taking the top five spots in the 2023 CBI Index.
This indicates that the Caribbean has the most attractive CBI programs in the world.
Despite global industry-wide challenges, St Kitts and Nevis took first place at 86 percent and scored top in almost all pillars, establishing itself as a leader in the industry.
St Kitts and Nevis got full marks for Mandatory Travel or Residence, Ease of Processing, Due Diligence, and Certainty of Product.
Dominica took second place, at 83 percent, and attained full marks for Minimum Investment Outlay, Mandatory Travel or Residence, and Ease of Processing.
Grenada and Saint Lucia shared third place at 80 percent, while Antigua and Barbuda took fifth place, at 73 percent.
The other countries ranked are within Europe, Asia, the Middle East, and Africa. They are Malta 64%, Vanuatu 63%, Turkey 61%, Egypt 56%, Austria 53%, Cambodia 50% and Jordan 49%.
