Caribbean CBI countries have done superbly – according to the 2023 World Citizenship Report (WCR). 188 countries were measured in the report using five motivators deemed as most relevant among the mass affluent.
Caribbean nations rank top 60 in report
This year, St Kitts and Nevis kept its position of 48th out the 188 countries while Grenada (49), Antigua & Barbuda (50), Dominica (52) and Saint Lucia (53) followed closely behind.
The Caribbean CBI programmes are the cradle of investment migration
Caribbean nations are becoming global investment hubs that offer safety, lucrative financial diversification options and idyllic lifestyles that make them desirable places to take up second citizenship.
All the Caribbean nations that hold CBI programmes are members of the Caribbean Community (CARICOM). CARICOM is a unified Caribbean community that promotes and supports inclusivity and resilience and aims to promote sharing economic, social and cultural growth.
A better future for all
Earlier this year, heads of state from Caribbean nations offering CBI programmes met with several US government officials. Subsequently, they met to discuss ways to enhance security and due diligence checks. The aim is to minimise any potential risks to the various CBI programmes on offer.
Prime Ministers from St Kitts and Nevis, Antigua & Barbuda, Saint Lucia, Dominica and Grenada were all in attendance, alongside the heads of each nation’s Citizenship by Investment Units (CIU). The meeting, which was led by the Assistant Secretary of the US Department of the Treasury had some positive outcomes.
All nations agreed to follow six processing principles which were suggested by the United States.
Read More: Six new CBI principles for the Caribbean
WCR records mass affluent search for greater freedom
High-Net-Worth-Individuals(HNWIs)and mass affluent are securing greater freedoms by ensuring that they have a second home through residency and citizenship programmes. Essentially, they want more control over their own sense of freedom.
Caribbean CBI programmes top ranked in safety and security
The US, Canada, the UK, and France were attractive destinations for many who wanted to migrate. However, those popular countries are all struggling, both financially with threats of a recession and high inflation, as well as experiencing civil unrest. The mass affluent and HNWIs have begun looking for alternative destinations as a bolt hole for future crises. They are looking for countries that offer the freedoms that are lacking in their home nations.
Caribbean nations have been offering precisely this for decades.
Dominica ranked the safest and most secure Caribbean CBI country, and all five countries were almost equal in terms of economic opportunity.
Small island nations ensure prosperity and sustainability through CBI programmes that are viable way for Caribbean nations to attract foreign direct investment into their economies towards significant developmental projects.
Caribbean CBI countries strive towards economic sustainability
Did you know that Dominica’s construction of a geothermal plant was made possible by revenue from CBI?
St Kitts and Nevis follows suit moving away from fossil fuel. The country has taken the seriousness of its CBI programme one step further by instituting innovative and industry-first regulations that will not only enhance the programme’s international reputation but will also ensure that international investors and citizens alike benefit from a safe, secure, stable and economically prosperous nation.
The inflow of funds to the private sector have had a noticeable impact on the economic activity of island nations, in many instances improving fiscal outcomes, facilitating debt repayment and spurring economic growth.
Caribbean nations continue to be politically and economically stable, with a low crime rate and rich investment opportunities – therefore solid investment options for those looking to attain freedom.
More on the World Citizenship Report
As the world’s leading government and investment migration advisory firm, we are proud to bring you the WCR.
The report showcases the World Citizenship Index (WCI). The WCI is an innovative tool that takes a holistic approach to rank the world’s citizenships across multiple dimensions. These include the following motivators:
- Safety and Security
- Quality of Life
- Economic Opportunity
- Global Mobility
- Financial Freedom
To find out more about the World Citizenship Report – click here.
