Amid growing global uncertainty and tighter travel restrictions, citizenship by investment (CBI) has evolved from a niche strategy into a mainstream solution for investors seeking security, diversification, and enhanced international mobility. The CBI Index, published annually by Professional Wealth Management (PWM)—a publication of the Financial Times—evaluates and ranks the world’s leading programs. Its 2025 edition highlights both the continued dominance of Caribbean nations and the emergence of new players in this segment of the investment migration industry.
This article uses insights from the CBI Index 2025 to show which programs rank highest, what trends define the industry, and how investors can choose the right path to their second passports.
How the CBI Index Ranks Programs
The CBI Index is widely regarded as the most authoritative measure of economic citizenship programs worldwide. It evaluates each program across nine pillars that reflect overall quality, transparency, and attractiveness:
- Freedom of Movement – the strength of visa-free travel and global mobility.
- Standard of Living – access to education, healthcare, safety, and infrastructure.
- Minimum Investment Outlay – affordability and value for money.
- Mandatory Travel or Residence – whether applicants must visit or live in the country.
- Citizenship Timeline – the efficiency and speed of processing.
- Ease of Processing – transparency, simplicity, and investor experience.
- Due Diligence – the rigor and credibility of background checks.
- Family – inclusivity of dependents under one application.
- Certainty of Product – program stability and government commitment.
Together, these nine pillars form a comprehensive assessment tool, allowing investors to look beyond marketing claims and focus on programs that combine strong mobility benefits with strong governance, and long-term reliability.
Top Citizenship by Investment Programs in 2025
According to the CBI Index 2025, Caribbean nations continue to outperform all other regions. With their well-regulated frameworks, transparent due diligence, and efficient processes, the Caribbean remains the global benchmark for CBI excellence.
| Rank | Country | Score | Highlights |
|---|---|---|---|
| 1 | St. Kitts & Nevis | 78 | The world’s longest-running CBI program leads again thanks to enhanced due diligence, biometric integration, and a fully digital application system. |
| 2 | Dominica | 73 | Despite losing UK visa-free access, Dominica retains investor confidence through strong governance, swift processing, and high transparency. |
| 3 | Grenada | 70 | Known for its U.S. E-2 Treaty advantage, Grenada excels in compliance, family inclusiveness, and program stability. |
| 4 | Saint Lucia | 68 | Rising through efficient application handling, mandatory interviews, and attractive investment tiers. |
| 5 | Antigua & Barbuda | 66 | A family-friendly program with expanding regional cooperation and rigorous due diligence alignment. |
| 6 | Nauru | 62 | A notable new entrant from the Pacific, symbolizing global diversification beyond the Caribbean core. |
The results confirm that the Caribbean remains unmatched in its ability to balance affordability, efficiency, and reputation. However, the appearance of new entrants such as Nauru reflects a gradual broadening of global participation in the CBI segment of the investment migration industry.
Vanuatu follows Nauru, holding seventh place with a score of 58. Malta, meanwhile, ranks eighth—but its program has been officially discontinued following a Court of Justice of the European Union (CJEU) ruling that supported the European Commission’s position against the “commodification” of citizenship. As a result, Malta has been required to end its CBI scheme, marking a significant shift in the EU’s stance toward economic citizenship.
Türkiye’s citizenship by investment program ranks ninth with a score of 56, followed by another emerging program, São Tomé and Príncipe, which holds tenth place with a score of 55. Other countries featured in the CBI Index include Egypt (53), Austria (49), Jordan (46), and Cambodia (44)
Regional Overview: The Caribbean Leads, the World Follows
For another consecutive year, Caribbean programs dominate the top positions. Their success reflects coordinated efforts to enhance due diligence, introduce biometric verification, and align pricing structures. Governments in the region are also amending legislation to establish a joint regulatory body, standardizing due diligence, pricing, and transparency across all five Caribbean CBI programs. Minimum contributions have been increased to $200,000 to enhance credibility, which has temporarily lowered demand but should strengthen a long-term program reputation.
CBI programs in the European Union are effectively over. The Malta case at the CJEU marked a turning point, ruling that Malta’s investor-citizenship scheme infringed EU law. The court found that the program amounted to a “commercialization” of nationality and failed to establish a “genuine link” between recipients and the state. This ruling reinforces the EU’s position that investor programs must go beyond financial contributions and ensure meaningful ties to the country.
Meanwhile, Türkiye has strengthened its framework with stricter documentation and biometric requirements, though political and economic volatility tempers investor confidence. Programs in the Pacific, Africa, and parts of Asia — including Nauru and São Tomé & Príncipe — highlight the increasing geographic diversification of CBI opportunities, appealing to investors seeking alternative jurisdictions.
Key Trends Shaping Citizenship by Investment in 2025
The global CBI market is undergoing profound change. Investors must now consider not just mobility and cost, but broader structural shifts that affect long-term value, credibility, and security.
- Stronger Governance and Regional Oversight: The Eastern Caribbean states are creating the Eastern Caribbean Citizenship by Investment Regulatory Authority (ECCIRA) to harmonize all CBI programs, enforce strict due diligence, and maintain minimum investment thresholds. This reflects mounting pressure from global partners, including the European Commission and U.S. authorities.
- Digital Transformation: Fully online application systems, biometric verification, and real-time monitoring are reducing processing times, paperwork, and reputational risk. Efficiency and system integrity are increasingly important alongside investment size.
- Diversifying Investor Profiles: CBI is no longer reserved for ultra-high-net-worth individuals seeking mobility alone. Entrepreneurs, family offices, multi-generational families, and digital nomads are now leveraging CBI for global resilience, tax planning, and market access.
- Reputation Over Cost: Transparency, credible governance, and program stability are now more important than affordability alone. Investors are prioritizing jurisdictions that can deliver long-term value and reliability.
- Geographical Diversification: Beyond the Caribbean, emerging programs in Africa, the Pacific, and Asia provide alternative opportunities. While appealing, these programs carry higher reputational and regulatory risk, emphasizing the importance of program credibility.
In combination, these trends mean that in 2025, the best CBI programs are those that combine mobility benefits with strong governance, digital strength, credible due diligence, and forward‑looking legislative frameworks. Investors should evaluate programs not simply by passport strength or investment threshold—but by how well they protect their long‑term interests.
How to Choose the Right Citizenship by Investment Program
Choosing the best program depends on an investor’s goals. Some seek global mobility; others prioritize lifestyle, education, or family security. Credibility and legal consistency are essential for all.
Bayat Group recommends assessing each program through three practical dimensions:
- Purpose: What is the main objective — mobility, lifestyle, business, or investment?
- Budget: Consider investment thresholds, government fees, due diligence costs, and family add-ons.
- Credibility: Prioritize jurisdictions with transparent legal frameworks, consistent oversight, and a strong reputation.
With decades of experience in global mobility and investment migration, Bayat Group guides clients from program selection to successful application, ensuring full compliance and confidentiality.
The CBI Index 2025 makes one thing clear: the CBI industry is maturing, not shrinking. Programs that uphold transparency, efficiency, and integrity are thriving even amid stricter international oversight.
To explore your options under the world’s best CBI programs in 2025, contact Bayat Group — leaders in migration, residency, and citizenship solutions since 1993.
Disclaimer:
The information provided in this article is for general informational purposes only and does not constitute legal, financial, or investment advice. Citizenship by investment programs are subject to change based on national and international regulations. Prospective investors should seek independent professional advice before making any decisions.