Source: Loop
Henley & Partners, a prominent name in residence and citizenship by investment, has released the 2024 edition of the Global Citizenship Program Index of which three Caribbean Islands are featured.
The index ranks the world’s most important citizenship by investment (CIP) programs based on a range of crucial criteria, including quality of life, visa-free travel, investment prerequisites, compliance standards, residency conditions, relocation flexibility, transparency, and reputation.
Securing the top spot is Malta, renowned as a premier destination for alternative citizenship.
According to the report, the Maltese government’s commitment to fostering development is underscored by its “robust and transparent” regulated citizenship process.
Malta’s Citizenship by Naturalisation for Exceptional Services by Direct Investment requires a minimum investment of EUR 738,000, encompassing real estate acquisition or rental and contributing to a non-governmental organization supporting local communities.
The perks of Maltese citizenship include “access to a reputable financial centre and a prime jurisdiction for international business, a high quality of life, and, perhaps most importantly, the global mobility that Maltese passport holders enjoy.”
Following closely behind is Austria, offering a gateway to Europe through its Citizenship by Investment program.
‘Applicants are required to contribute substantially to the Austrian economy, be it through joint ventures or direct investments in businesses that create jobs and drive economic growth. The application process can take between 24 and 36 months and it is entirely discretionary,” the report states.
Antigua and Barbuda, securing the third position, presents strategic opportunities for international mobility through its Citizenship by Investment Program.
With an accessible investment requirement as low as USD 100,000 where “applicants are only required to visit the islands for five days during the first five years of obtaining citizenship.”
The program also boasts a favourable tax environment and grants passport holders visa-free travel to over 150 destinations worldwide, making it an enticing proposition for global businesspersons.
Grenada and St. Lucia share the third rank alongside Antigua and Barbuda. Grenada’s program offers a robust safeguard against global risks, providing swift access to numerous countries without prior visa requirements.
Meanwhile, St. Lucia’s citizenship program appeals to entrepreneurs with its fiscal incentives and multiple investment options, ranging from contributions to real estate purchases.