With the rising trend of global travel and tourism, people from around the world are becoming increasingly interested in dual citizenships, and how they can benefit from owning a 2nd passport.
While numerous members of the European Union are constantly popular among prospective citizenship-seekers, more exotic destinations have actually proven to be the most prudent and rewarding options, according to the CBI Index.
Ranking countries on the following seven pillars of CBI, nations such as Dominica, Grenada, Saint Kitts and Nevis, and several others have made it to the top of the most prospective citizenship by investment list. Let’s take a look at the criteria and the most prominent options for 2018.
Standard of living
While Dominica scored the highest of all contenders in an overall comparison, certain countries scored higher in individual categories. The standard of living category took a look at life expectancy, education, security and income of a given country. Here, the winners were Austria, Malta, Bulgaria, and Cyprus. Additionally, Grenada and Austria scored highest for education.
Freedom of movement
This category is exactly what it says on the tin – it takes a look at how much freedom of movement within country borders are given to its citizens. Of all the contenders, Austria, Malta, Cyprus and Bulgaria scored the highest.
The minimum investment category took a look at the amount of investment required for an applicant to become eligible for a residency or citizenship program. While the investment amounts vary greatly from country to country, some exotic destinations such as Comoros, Dominica and St Lucia proved to be the most “affordable” on the list.
Mandatory travel or residence
Every country offering citizenship via investment has its own set of laws dictating the residence or travel conditions that applicants need to follow prior and after being granted a citizenship. Of all the countries, St Lucia, St Kitts and Nevis, Dominica, and Grenada had the most favorable conditions for travel.
The citizenship timeline category assesses the amount of time it take for a governing bod to process your application and grant you your full citizenship. Grenada, Dominica, Comoros, Vanuatu, and St Kitts and Nevis proved to be the expeditious in their processing, with St Kitts and Nevis being the only country with a fixed 60-day processing scheme.
Ease of processing
Another self-explanatory category, ease of processing aims to assess which of the countries offer the most clear and straightforward citizenship process. While Austria and Comoros require an interview in person and Cambodia requires a language and history test, Grenada, Dominica, St Kitts and Nevis, and Antigua and Barbuda have come on top as the easiest countries to apply for citizenship.
Each nation should strive to have a clear, transparent, and effective system of objectively evaluating their candidates. The governing body proves this important commitment by keeping stellar records portraying their evaluation program in detail. Again, the countries with the highest score were St Kitts and Nevis, Malta, and Dominica.
Investment program overview
With every country offering different benefits of owning their passport, as well as unique requirements that may or may not suit your specific capabilities and needs, you need a clear overview of citizenship by investment programs you can research in detail in order to find the best possible solution according to your goals and aspirations.
For instance, obtaining an EU passport will grant you the freedom to live and work anywhere in the European Union, however some of the more exotic countries offer 0% worldwide income tax and a higher standard of living. Be sure to research your options diligently.
Citizenship by investment is becoming an increasingly popular way of obtaining a 2nd passport and gaining access to numerous countries around the globe, as well as full citizenship rights and benefits a country has to offer.