Many investors and businesspeople in the Arab world are concerned about what might happen in the coming few years in the wake of the political and economic instability in some countries in the Arabic region, so the prospect of moving abroad may be more appealing—this is something that citizenship by investment programs can provide.
Jeremy Savory, Founder and CEO, Savory & Partners, the region’s leading citizenship-by-investment consultancy and one of the few that holds all regional government licenses, says that the best option is to get second citizenship, which can afford investors increased personal security, better healthcare conditions and greater global mobility.
However, due to new research by the CBI Index, the best countries for second citizenship are a touch more exotic, with Dominica, St Kitts and Nevis, and Grenada taking the top spots.
Some European countries score highly though, with Cyprus, Malta, Portugal and Spain scoring high on the list
The evaluation depends on what is called the “seven pillars of CBI” which addresses the following criteria:
- The standard of living: visa-free travel to and from your tropical paradise– perfect for a last-minute vacation. For those looking longer term, second citizenship also opens up the opportunity to retire abroad. It entitles the applicant to put his business life behind him, thus, relax in pastures new.
- Minimum investment outlay: this evaluation is based on the required capital, through which the investor becomes an eligible applicant for the program of interest - the top countries were Dominica and St Lucia.
- Mandatory travel or residence: this criterion evaluates the travel and residence conditions that are usually imposed on all applicants both before and after the granting of full citizenship. Dominica, Grenada, St Kitts and Nevis, and St Lucia scored highest.
- Citizenship timeline: this assesses the time an application takes from when it is submitted to the relevant government body to the obtaining of citizenship. St Kitts and Nevis - which is the only country with a fixed scheme to ensure applications are processed within 60 days - comes at the top in this category, followed by Dominica and Grenada.
- Ease of processing: this evaluates how clear and streamlined the process of applying for citizenship is, and Antigua and Barbuda, Dominica, Grenada, and St Kitts and Nevis came out top.
- Due diligence: this is based on each nation’s commitment to ensuring that their programme remains transparent and effective at assessing potential candidates for citizenship by investment - Dominica, Malta, and St Kitts and Nevis were top rated.
As for the top 7 countries that offer second citizenship by investment, here are their scores out of 100:
- Dominica - 90
- St Kitts and Nevis - 88
- Grenada - 85
- Antigua & Barbuda - 78
- Saint Lucia - 76
- Cyprus - 67
- Malta – 64
Do you want to know more about citizenship-by-investment programs? Please schedule a no-obligation consultation through signing up on our website or call our team on +971 (0) 4 430 1717.