The 2019 CBI Index
Since last year, the citizenship by investment industry has continued its rapid evolution with countries boosting their visa-free offerings and adding new investment routes
The CBI Index is a comprehensive, data-driven comparison tool of citizenship by investment programmes worldwide, offering individuals and entities a practical guide to the different programmes and their comparative strengths. Now entering its third year, the 2019 CBI Index is the industry’s most reliable and user-friendly source of information on today’s programmes, the key issues shaping investor interest, and the future direction of citizenship by investment.
Further reading
Since the publication of the 2018 CBI Index, the industry has continued its rapid evolution, with several significant changes taking place. Vanuatu has modified one of its two programmes, the Development Support Programme, to award citizenship as opposed to honorary citizenship, Cyprus has revised application criteria and added new donations to the Cyprus Land Development Corporation and the Research and Innovation Foundation, and countries have boosted their visa-free offerings and added new investment routes. Key developments include increased collaboration between citizenship by investment jurisdictions, the tax implications of being a citizen versus those of being a resident, and a greater focus by countries on utilising applicant funds for socioeconomic purposes within their communities.
Challenges have come in the form of corrective action against agents operating outside programme boundaries, rising investor demand, and a higher degree of scrutiny from the global community.
Montenegro and Moldova both sought to enter the citizenship by investment scene. However, the former is still not accepting applications, while a moratorium was placed on applications to the latter in anticipation of its cancellation. For this reason, they are not included in the 2019 CBI Index.
Jordan and Turkey, last year’s new entrants, have held their ground in the industry.
The 2019 CBI Index therefore examines the citizenship by investment programmes of 13 countries: Antigua and Barbuda, Austria, Bulgaria, Cambodia, Cyprus, Dominica, Grenada, Jordan, Malta, St Kitts and Nevis, St Lucia, Turkey, and Vanuatu.
Programmes are evaluated against seven pillars which reflect investor priorities. The underlying data comprises all relevant sources, including legislation, government circulars and memorandums, application forms and guidelines, official media and statistics channels, and direct correspondence with governments and their authorised representatives.
Each country is also given a final, overall score, which can be found for ease of reference towards the end of the CBI Index.
