Inside the 8th CBI Index: Exploring the shifting market for investment migration
The 2024 CBI Index has arrived at a pivotal moment for the investment migration industry, revealing how the market for Citizenship by Investment (CBI) is shifting in unexpected ways.
For South Africans, typically familiar with pursuing ancestral or skilled visas, CBI is emerging as a viable option for those seeking greater global mobility and financial security.
As economic and political uncertainty grows, especially in traditionally stable Western countries, the demand for alternative citizenship options has surged—and Caribbean programmes are leading the way.
South Africans and alternative citizenship
South Africans typically look to ancestral or skilled visas to gain access to the UK, Europe, or Australia.
However, as Citizenship by Investment becomes more accessible and attractive, it offers a new path.
The 2024 CBI Index highlights how this sector is not only growing but also shifting in demand from non-Western to Western countries.
Traditionally, countries like China and Russia dominated the market for investment migration.
But today, there’s a significant uptick in interest from regions such as the US, France, and the UK.
According to Professor Kristin Surak, who was part of the 2024 CBI Index panel, “trust issues in democratic countries and uncertainties regarding future tax policies have led high-net-worth individuals (HNWIs) to explore alternatives.”
South Africans, faced with rising global economic challenges, are also turning to second citizenship as a practical solution.
Caribbean CBI programmes lead the way
The 2024 CBI Index shows that the Caribbean nations are leading the way in the investment migration industry, with all five Caribbean nations ranked in the top positions.
St. Kitts and Nevis, for example, ranks as the number one CBI programme globally for the fourth year in a row, thanks to its strong focus on due diligence and sustainable development, areas of increasing importance for South Africans seeking responsible investments.
Caribbean programmes have garnered a reputation for reliability and credibility due to their rigorous vetting processes and transparent governance structures.
These programmes are recognised for their strict due diligence standards, which involve multi-layered background checks conducted by international agencies and local authorities.
This level of scrutiny ensures the integrity of applicants and protects the reputation of the countries offering citizenship.
According to the CBI Index, Caribbean programmes such as St. Kitts and Nevis consistently score high in key metrics, including product certainty, ease of processing, and governance, as well as investment options and thresholds.
The transparent and streamlined application processes make them particularly attractive to South Africans, who value both efficiency and security in their investments.
Furthermore, these programmes offer diverse investment opportunities, aligning with the growing demand for socially responsible and impactful investments.
Why the Caribbean nations lead the industry
The Caribbean’s success in the CBI industry is largely due to its adaptability and focus on regional cooperation.
A landmark Memorandum of Agreement (MoA) signed by five Caribbean nations in 2024 demonstrates their commitment to harmonising their programmes.
This agreement has established a minimum investment threshold of US$200,000, safeguarding these programmes from bad actors and ensuring a higher standard of compliance.
The Caribbean offers a variety of investment options from private or development real estate, government bond options to contribution or fund options that support economic development and social upliftment.
The shift towards environmental, social, and governance (ESG) practices has further driven the popularity of Caribbean CBI programmes.
Investors are increasingly looking for socially responsible options, and the Caribbean’s focus on sustainability resonates with this growing trend.
For South Africans who value these aspects in their investments, the Caribbean programmes offer a compelling case.
CBI Index 2024: Available now!
As the market for citizenship by investment evolves, the 2024 CBI Index provides essential insights into the best programmes available today.
For South Africans considering their options, the CBI Index is an invaluable resource to guide decision-making.
Download the full Index here and explore how the Caribbean has become the global leader in CBI programmes.