News Americas, London, Aug. 22, 2022: The world’s most definitive guide on citizenship by investment, the CBI Index, was published today by PWM Magazine, a publication from the Financial Times in collaboration with CS Global Partners and offers readers a view of an industry in metamorphosis.
Released amid a year that has, again, been marked by heightened uncertainty, increased security risk, political instability and intensifying calls to act on the global warming threat, the CBI Index comes at a time when most individuals are reassessing the base they call home and are looking for more stable environments that not only offer security but business, health and education opportunities for generations to come.
Despite a tumultuous global environment and an investment industry harrowed by scrutiny from the EU and USA, this year’s CBI Index hints at opportunity amidst the chaos – opportunity for the CBI industry to evolve and perhaps be the answer to those who look to it to harness the world’s offerings.
Often thought of as a Plan B, the CBI Index infers that in a post-pandemic reset, there has been a shift in trust away from government as individuals obtain second, or multiple citizenships, and take control of their destinies. The new global citizen will look to invest in ‘Plan A’ and a more positive future for people and planet.
While the CBI Index is a rating system designed to measure the performance and appeal of global citizenship by investment (CBI) programmes across a diverse range of indicators, it is also a voice for the industry and a forward-looking manual that offers readers a glimpse of what the industry could be provided that industry players come together and shape its regulatory environment to benefit not only host countries, but citizens around the world who have realised that home need not be their place of birth, but where opportunities lie.
This Index is intended as a practical tool, both for those who wish to compare CBI programmes as a whole and for those who wish to compare specific aspects of each programme.
Its purpose is to provide a rigorous and systematic mechanism for appraising programmes, to facilitate the decision-making process for individuals considering them, and to bring value to the CBI industry.
The CBI Index assesses all countries with operational CBI programmes, which, in 2022, include Antigua and Barbuda, Austria, Cambodia, Dominica, Egypt, Grenada, Jordan, Malta, Montenegro, St Kitts and Nevis, St Lucia, Turkey and Vanuatu.
The CBI Index rates CBI programmes according to these nine pillars: 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.
Freedom of Movement 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 travel without restriction, the number of prime business hubs to which it provides access, and the degree to which a given citizenship provides settlement rights in other nations.
The Standard of Living pillar is a measure of the quality of life offered by the 13 CBI jurisdictions under assessment and this pillar is vital to those who yearn to relocate and secure a prosperous and fulfilling lifestyle. Similarly, it is key to those wanting to take advantage of local business opportunities or needing to transfer and safeguard their assets.
The Minimum Investment Outlay pillar measures one of the most practical and foremost considerations of CBI – how much capital is required for the investor to become an eligible applicant for the programme of their choosing. The cost of applying for CBI increases with the number of dependants — or qualifying family members — included in an application. In some jurisdictions this increase is proportional, while in others the cost only increases following the inclusion of multiple dependants.
Mandatory Travel or Residence examines the travel or residence conditions imposed on applicants both before and after the granting of citizenship.
The Citizenship Timeline pillar looks at the average time taken for citizenship to be secured by the applicant.
The Ease of Processing pillar measures the end-to-end complexity of the CBI application process. In some jurisdictions, the application process can be a labour-intensive and painstaking task that is time-consuming for the applicant; in others, it is streamlined, and the applicant receives clear directives on how to proceed. The overall effortlessness of the application process is a particularly important component, and the promise of a smooth, hassle-free process can generate readiness to engage with a programme.
The Due Diligence pillar focuses on each nation’s commitment to ensuring that their programme remains transparent and effective at evaluating potential candidates for citizenship. It is therefore a measure of each programme’s integrity.
The Family pillar measures the extent to which investors can obtain citizenship for their immediate and extended family. The CBI Index recognises that the rise of increasingly complex family relationships is driving investors to seek programmes that allow for a more diverse range of family members to be included under a primary application.
Lastly, Certainty of Product encompasses a range of factors that measure a programme’s certainty across five different dimensions: longevity, popularity and renown, stability, reputation and adaptability. Additionally, it assesses a programme’s responsiveness to major global events, such as the Covid-19 pandemic and the war in Ukraine that have had a significant impact on global mobility and due diligence requirements.
As the CBI industry undergoes its own challenges and metamorphosis, the CBI Index gives worldly investors a reliable analysis of reputable programmes that will enable them to choose second citizenship in destinations that will fulfil their needs.
Download the full report here to see which of the thirteen countries took top spot and gain further insight into the CBI industry.
