Before the 1980s, no one had considered that a CBI program could be real or that it could flourish into a growing and flourishing industry. It has been shown in the last 30 plus years that not only can Citizenship by Investment can be a legitimate way for nations to increase their GDP, but that it can be a great way to diversify their population. It seems to have been a surprise that CBI programs can attract skilled and talented individuals that help develop their nation while being a path to creating jobs and greater trade.
Now that many countries have adopted citizenship by investment programs and participate in investment migration to one extent or another, we can explore the industry as any other. Discuss its growth, the trends that are taking place, and how CBI programs are operating for over 30-years since the first one began.
Citizenship by Investment Trends
As it stands in 2021, the investment migration or CBI program industry is worth more than USD 21 billion with no sign of decreasing in worth. This can come across as surprising given the COVID-19 pandemic and borders closing for over a year, but while moving may have been on pause, the interest in Citizenship by Investment didn’t. In fact, many businesses that work within or in conjunction with CBI programs have seen a surge in interest and applications throughout the pandemic.
Over the years, it has been shown that the interest in CBI programs has grown as more countries have begun their own form of it. To observe the trends in CBI program participation you have to look at what attracts citizenship seekers. While you could look at the costs of one program over another and benefits the person gets by having citizenship in one country or another, the only trend that has emerged is that reflects what concerns different groups of citizenship seekers have. Now, for example, people looking to participate in a Citizenship by Investment program seem to primarily be looking for access to better healthcare, better education, and wealth protection.
There is an indication that many people who seek Citizenship by Investment are often looking at countries that offer more efficient tax systems and wealth protection and visa-free travel as soon as the borders between the countries are fully open. This is one of the reasons why Caribbean countries are very popular among CBI program interested individuals and families.
A Growing CBI Program Market
Beginning with St. Kitts and Nevis, now residency and CBI programs have been established by over 100 countries and offer a wide range of options to interested investors.This market is growing as high net worth investors are looking to protect their wealth and families.
Part of the reason for the growing trend is the increase of private wealth and more emerging market economies. This has led to more affluent people looking for visa-free travel, dealing with fewer visa restrictions, and the ability to escape political instability. As the COVID-19 pandemic has shown, you want to have options when a nation is in crisis and as the pandemic winds down, it is clear people aren’t taking chances on missing these advantages offered by Citizenship by Investment.
Why are CBI Programs Popular?
A few of the reasons why CBI programs have become so popular we have mentioned earlier are visa-free travel, wealth protection, access to better healthcare, better education, and escaping political instability. There are other reasons why people seek Citizenship by Investment opportunities, especially in the Caribbean:
- Dual citizenship in a beautiful island country
- Opportunity for the U.S. E2 visa (with Grenada citizenship)
- More affordable than many other CBI programs around the world
- Visa-free travel to over 140 countries, including the UK, Schengen countries, Russia. Grenada citizenship also allows visa -free travel to China.
- Relief from global taxation and efficient tax systems
With a growing number of CBI programs around the globe and the surge in those seeking to apply to them, you can be sure many companies will also begin taking advantage too. For that reason, it’s important to align with experienced and successful Citizenship by Investment partners that know how to navigate CBI programs and ensure successful investments.
We at Range Developments are leading developers of government-approved projects under Caribbean CBI programs and have successfully completed two luxury resorts in St. Kitts and Nevis and Dominica – Park Hyatt St. Kitts and the Cabrits Resort & Spa Kempinski, Dominica We’ve also begun our third development in Grenada, Six Senses La Sagesse, Grenada, another excellent CBI opportunity, and are on schedule for completion in late 2022.
While the rise in CBI programs is great for participating countries, it is the main interest of investors to align with an experienced, reliable, trusted, and successful CBI developer with a great track record of completed projects .
To get started on your journey, we encourage you to speak to one of our Citizenship by Investment consultants.