9th Edition of CBI Index Launched: Caribbean Programmes Maintain Global Dominance in 2025
The 2025 CBI Index once again confirms the Caribbean’s dominance on the global Citizenship by Investment (CBI) industry, with the top three spots secured by Caribbean nations. St. Kitts and Nevis lead the rankings in first place, followed by Dominica in second, and Grenada securing the third spot.
The report highlighted how Caribbean nations continue to demonstrate resilience, adaptability, and investor appeal despite mounting external pressures. At the same time, new entrants from Africa and the Pacific illustrate the sector’s continued geographic expansion and diversification.
The CBI Index, an independent global ranking system now in its ninth year, is released annually and evaluates citizenship programmes across nine key pillars, with a focus on standard of living, freedom of movement, investment outlay, mandatory travel or residence, citizenship timeline, ease of processing, due diligence, dependant options and certainty of product. It remains an authentic data-driven tool for investors to compare such options and assess credibility.
The 2025 edition launched today, underscored two key trends: the Caribbean’s continued dominance through reforms and resilience, and the gradual geographic diversification of the CBI industry with new players from Africa and the Pacific.
“The 2025 CBI Index reaffirms the Caribbean’s position as the global leader in citizenship by investment, with programmes that continue to adapt to external pressures while maintaining high standards of due diligence and investor confidence. At the same time, the emergence of new entrants from Africa and the Pacific underlines the industry’s continued growth and diversification,” said James McKay, the researcher behind the CBI Index.
St. Kitts and Nevis: The Industry Standard
The CBI Index 2025 names St. Kitts and Nevis as the industry leader, crediting bold reforms that boost transparency, security, and efficiency. A new statutory body has reinforced the country’s leadership role, playing a key part in creating the Eastern Caribbean Citizenship by Investment Regulatory Authority (ECCIRA), which launches this month. Inside the CBI Unit, the rollout of a cutting-edge digital application platform has set a new benchmark for efficiency, making St. Kitts and Nevis the top performer for responsiveness.
Dominica and Grenada Hold Strong
Dominica retains second place with 73 points, maintaining stability amid external challenges. The CBI Index further noted that despite the loss of visa-free access, the government’s decisive strengthening of due diligence and a healthy application pipeline ensured demand remained robust. Dominica continues to rank among the world’s most popular programmes, underlining its investor appeal, the Index further emphasised.
Grenada, in third with 70 points, preserved its position despite falling application numbers. Its more inclusive approach to dependents and strict measures against agent misconduct reinforced its credibility.
Antigua and Barbuda
Antigua and Barbuda comes in fifth with 66 points, down by one point compared to last year. The dip contrasts with surging demand for the programme in 2024, yet its adoption of biometrics and commitment to regional cooperation underline its ongoing credibility.
Nauru and Vanuatu
Among the new entrants, Nauru makes a notable debut in sixth place with 62 points. Built around themes of climate resilience and sustainable development, its programme introduces broad family eligibility and external due diligence partnerships. Still, the lack of a track record leaves long-term credibility untested.
Vanuatu climbs slightly to 58 points as it strengthens its recent compliance framework with interviews, and clearer financial vetting. While the suspension of visa-free travel to the EU and UK continues to hurt, revenues have stabilised, and new sustainable investment options may help reposition the programme.
Europe and Beyond
According to the findings of the 2025 CBI Index, Europe presents a mixed picture. Malta, transitioning from its MEIN framework to the new Citizenship by Merit programme, slips marginally to 57 points. With the European Court of Justice scrutinising the compatibility of CBI with EU citizenship principles, Malta remains a closely watched test case for the future viability of such programmes within the bloc.
Türkiye rises to ninth place with 56 points, supported by the introduction of biometric and police certificate requirements. While investor demand continues to be strong, ongoing political uncertainties cloud its long-term positioning.
São Tomé and Príncipe, a new entrant, makes its debut in 10th place with 55 points, signalling further geographical diversification of the industry. However, limited transparency and a lack of data on performance and due diligence prevent it from gaining stronger credibility at this stage.
Elsewhere, Egypt holds steady at 53 points but slips to 11th place due to new competition. Austria, unchanged at 49 points, maintains its discreet yet opaque approach. Jordan edges up to 46 points in 13th place, while Cambodia falls to the bottom with 44 points following restrictive legislation that undermines its credibility.
As the leading global benchmark for citizenship by investment programmes, the CBI Index continues to set the industry standard. Its scope extends well beyond measuring visa-free access, recognising that citizenship delivers a far broader spectrum of benefits.
Investors, policymakers, and programme administrators alike rely on its findings to evaluate the relative strengths of different jurisdictions, making it an indispensable reference for informed decision-making.
Looking ahead, the 2026 edition will mark a decade of the CBI Index, celebrating ten years of independent, data-driven research that has shaped industry practices and influenced investment decisions worldwide.
