For the second consecutive year, St. Kitts and Nevis has secured the top spot in the 2024 Citizenship by Investment (CBI) Index, leading a group of 12 countries evaluated for their investment migration programmes.
The eighth edition of the CBI Index, released on 25th September, 2024, offers a comprehensive data driven analysis of global CBI programmes. This year, five Caribbean nations claimed the top five rankings.
St. Kitts and Nevis achieved an overall score of 84 percent, having received perfect marks in four of the nine pillars assessed. These include the Mandatory Travel or Residence, Ease of Processing, Due Diligence, and Certainty of Product, solidifying the country’s position as a leader in the CBI industry.
Dominica, Grenada, St. Lucia, and Antigua and Barbuda followed St. Kitts and Nevis, rounding out the top five in the 2024 rankings.
The Caribbean CBI programmes outperformed their European and Asian counterparts, as they have done in previous years.
The global investment migration industry faced numerous challenges in 2024, driven by geopolitical tensions and heightened scrutiny. Despite these shifts, Caribbean CBI programmes, particularly St. Kitts and Nevis, have adapted to remain competitive and transparent.
One of the most significant developments in 2024 was the signing of a landmark Memorandum of Agreement (MoA), led by St. Kitts and Nevis, this March. The agreement saw Caribbean CBI nations harmonise their practices, including setting minimum investment thresholds and improving information sharing mechanisms between CBI Unit heads. This initiative addressed concerns raised by international partners in Europe and the United States, strengthening the credibility of programmes in the region.
Furthermore, with ongoing conflicts in the Middle East and Europe, high net worth individuals sought secure alternatives for relocation, making CBI programmes more relevant than ever. Many countries, including St. Kitts and Nevis, responded by enhancing their due diligence protocols and adapting their programmes to meet international standards. These efforts included banning applicants from high-risk nations, ensuring the integrity of their CBI programmes.
In contrast, Dominica earned top marks in two pillars - Mandatory Travel or Residence and Ease of Processing - while Grenada secured third place overall. St. Lucia and Antigua and Barbuda ranked fourth and fifth, respectively, highlighting the strength of Caribbean CBI programmes.
The CBI Index, now in its eighth year, is recognised as the most trusted cross-jurisdictional planning tool for global investors seeking citizenship by investment opportunities. The Index evaluates 12 CBI programmes based on nine pillars: Standard of Living, Freedom of Movement, Investment Options and Threshold, Mandatory Travel or Residence, Citizenship Timeline, Ease of Processing, Due Diligence, Family, and Certainty of Product. Each pillar is scored out of ten points, with rankings determined by a combination of quantitative data and expert analysis.
The CBI Index provides investors with a comparative overview of the world’s top CBI programmes, helping them make informed decisions based on their personal and business needs. The Index also offers insights into the changing landscape of the investment migration industry, with a focus on how countries like St. Kitts and Nevis are responding to global challenges while maintaining high standards of transparency and compliance.
In response to concerns about transparency and programme management, the St. Kitts and Nevis Labour Party administration has implemented sweeping reforms to address any irregularities within the CBI Unit. These reforms, combined with the nation’s continued leadership in the industry, further solidify St. Kitts and Nevis as a global frontrunner in citizenship by investment.