Saturday 26 September, 2020

Best Citizenships ranks St Lucia's CIP as weakest in the world

Saint Lucia has been ranked as having the least attractive Citizenship by Investment Program in the world by website, Best Citizenships.

According to a study by the site, the country takes the last spot in their 2020 rankings, falling just behind Vanuatu.

Out of 210 points, Saint Lucia ranked eleventh out of eleven countries with a score of 103.5 based on their Points Based Scoring (PBS) model, which examined 31 indicators of Citizenship by Investment schemes, before mathematically predicting the best citizenship by investment program for clients. 

According to the site, "CBI investors when applying for a CBI passport, ask about these five fundamental questions when applying for a passport scheme

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  • How safe is the country?
  • What are the citizenship benefits?
  • Which CBI scheme is cheap and best?
  • How many visa free countries i can travel to?
  • What is the standard of living in these countries?

This report aims to address these fundamental questions and provides answers empirically on CBI passports."

The ranking factors included:

  • Minimum Pricing (10 points) 

  • Availability of Real Estate investment option (10 points) 

  • Safety / Crime Rate (10 points) 

  • Visa-free access countries in total (10 points) 

  • Passport time  (10 points) 

  • Residency conditions (5 points) 

  • EU citizenship  (10 points) 

  • E-2 visa with US 

  • Due diligence (10 points) 

  • Privacy – Disclosing CBI names to public 

  • GDP in billions USD 

  • Richest countries in terms of GDP per capita income (5 points) 

  • Education rank (5 points) 

  • Healthcare rank (5 points 

  • Human Development Rank (10 points) 

  • Government Debt (5 points) 

  • Personal Income Taxes (5 points) 

  • Strong currency (10 points) 

  • Transparency (10 points) 

  • Passport Validity (10 points) 

  • Biometric / e-Passports (5 points) 

  • Personal Visit (5 points) 

  • Revoked Citizenships (5 points) 

  • Lifetime Citizenship (5 points) 

Saint Lucia scored well on criteria such as minimum pricing, real estate option, passport time, residency conditions voting rights and due diligence. Low scores were given to Saint Lucia for safety/crime rate, GDP, human development rank, passport validity, biometric passports and lifetime citizenship.

Grenada was ranked number one in the world. Other Caribbean countries were St Kitts and Nevis (7), Antigua and Barbuda (8) and Dominica (9).

Best Citizenships says, "Our model is one of a kind in the industry, considering most indexes currently exist in the industry do not provide in-depth analysis on CBI rankings from a clients point of perspective."

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