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Why 2024 was a year of transformation: A New Era of CBI Programs Worldwide

Why 2024 was a year of transformation: A New Era of CBI Programs Worldwide


3rd January 2025

This year has marked a turning point in the Citizenship by Investment (CBI) landscape, underlined by significant policy updates and regulatory changes impacting sought-after programmes in the Caribbean, Europe and beyond. In particular, nations such as St Kitts and Nevis, Antigua and Barbuda, Grenada, Dominica, Portugal, and Malta have introduced pivotal changes, redefining investor opportunities. Let’s look at the key changes that have set new benchmarks for the industry and how they have been received.

 

St. Kitts and Nevis

St. Kitts and Nevis has introduced several pivotal changes that have influenced the trajectory of Citizenship by Investment (CBI) programs across the Caribbean. Among these, the most notable was the increase in the minimum investment requirement. However, in an unexpected move in October 2024, St. Kitts reduced the real estate investment threshold from USD 400,000 to USD 325,000, making the program more accessible to investors. This comes as part of other additional changes including lowering the qualifying age for dependent family members from 65 to 55 years, making the program more inclusive for extended family members.

Other changes are part of efforts to strengthen the program’s integrity, such as regulations requiring applicants not to have been declared bankrupt within the last 10 years and enhanced real estate appraisal standards. This means appraisals must be conducted by professionals certified by the Royal Institution of Chartered Surveyors (RICS) or approved by financial institutions within St. Kitts and Nevis.

Even amid these changes, St. Kitts and Nevis secured the top spot on the IFC Review’s CBI Index 2024 for the fourth consecutive year demonstrating its enduring appeal among investors seeking alternative citizenship.

 

Antigua and Barbuda

Antigua and Barbuda’s program has also undergone recent amendments, introducing enhancements to make it more attractive and aligned with regional standards. These updates include revised minimum investment thresholds across various categories starting at USD 230,000, adjustments to application fees, an expanded definition of dependents—allowing up to four generations in a single application making it more cost effective —and the introduction of an Alternate Principal Applicant designation. This allows a designated alternate to step in if the principal applicant passes away, ensuring the continuity of the application process, such as adding family members, even in unforeseen circumstances.

 

Grenada

Effective August 2024, Grenada has introduced several changes to its CBI program, enhancing its appeal and effectiveness. Key amendments include stricter due diligence practices for selecting citizenship applicants and a restructured investment mechanism featuring higher investment thresholds and closer monitoring to support the country’s economic growth. As of today, contribution costs start from USD 235,000 or real estate investment of USD 270,000. These updates position Grenada’s CBI program as one of the most competitive in the region, particularly for investors seeking global mobility.

 

Dominica

Dominica’s decision to raise the minimum investment threshold strategically aligns its Citizenship by Investment (CBI) Programme with the pricing structures of other OECS nations. The new investment requirement includes a USD 200,000 donation for a single applicant or a USD 200,000 Real Estate Investment. This adjustment aims to enhance regional unity, foster a collective approach to economic citizenship, and attract high-quality investors.

The 2024 Regulations also introduced several key updates, including expanding the responsibilities of the Financial Intelligence Unit (FIU) to enhance anti-money laundering and counter-terrorism financing measures, reflecting the country’s commitment to international transparency standards. Additionally, the new regulations prohibit applicants from changing their names, ensure integrity in the application process, and revised government fees for real estate investments in response to market trends and stakeholder feedback.

 

Portugal

Significant changes can also be observed across Europe. The past year marked a pivotal year for Portugal’s Golden Visa Program, following the October 2023 announcement that real estate and real estate funds are no longer eligible as qualifying investments. Despite these significant changes, the past year has proven that the program continues to attract interest with its new investment options, which include a EUR 500,000 investment in a qualifying venture capital fund, allowing non-EU citizens to obtain a residence permit in Portugal. Typically focused on sectors such as real estate, technology, or startups, these entities must be registered with the Portuguese regulatory body, Comissão do Mercado de Valores Mobiliários (CMVM)

 

Malta

Malta has also undergone significant changes by introducing its Citizenship by Naturalization for Exceptional Services by Direct Investment, which replaces the previous Individual Investor Program (IIP). This updated policy was implemented in 2020 and offers foreign investors and expats an expedited route to Maltese residency and citizenship through direct investment, with a minimum contribution of EUR 750,000 to Malta’s economy. The new policy increases the qualifying investment threshold to EUR 100,000. Still, it eliminates the previous requirement for an additional EUR 150,000 investment in Maltese government bonds, effectively lowering the minimum investment compared to the IIP.

Although the changes were implemented a few years back, the program has seen increased interest in the past year. While the new investment program caps annual applications at 400, eligible applicants and their immediate family members who meet the program’s criteria can obtain Maltese citizenship by naturalisation within 12 to 36 months, depending on their investment amount. To maintain their residency status and continue their path to citizenship, investors must spend at least 15 days each year in Malta, fulfilling the residency requirement.

 

Navigating the changes with confidence

These changes discuss how the CBI landscape constantly evolves and improves to address the market’s needs while maintaining its integrity. These changes support the core benefits of enhanced global mobility, increased opportunities, and investment security. As competition intensifies among nations, investors can expect further enhancements in customer experience, new investment opportunities, and improved program transparency.

Thus, staying informed is key for investors to make the most of these developments. At Citizenship Invest, we specialise in guiding clients through the evolving CBI landscape, offering expert insights and tailored solutions to meet their unique needs. Don’t miss out on opportunities shaped by this year’s transformative changes.

 

Contact us today to explore how these updates can benefit you and your family.

 

 

Source - Citizenship Invest
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