Earlier this month, CS Global Partners released its inaugural World Citizenship Report (WCR) showcasing an index that compares world citizenships from the perspective of a global citizen.
World Citizenship Report Methodology
The report’s unique methodology relies on the experience gained through our unparalleled work in the Citizenship by Investment (CBI) industry and comprehensive empirical research to evaluate 187 jurisdictions across five key motivators defining citizenship for the global citizen.
Backed by research from leading data banks, interviews and a survey undertaken by over 500 wealthy investors, the WCR looks beyond passport strength and emphasises pivotal factors that play a role in choosing the right second citizenship.
“Our report delves into the real meaning and significance of citizenship for the individual. We use a holistic approach to concentrate on the factors that global citizens consider when deciding where to live, work and educate themselves and their families and place down secondary roots,” says Micha Emmett, the CEO of CS Global Partners.
Results show Switzerland scoring the highest with 88.1, followed by Denmark (88.0) in second place and Finland, Norway and Sweden tied for third (86.9).
Notably, global superpowers such as the United States did not rank in the top ten, symbolising a significant shift in what these economic giants can tangibly offer the global elite. Comparatively, Asia emerged as a hub for economic prosperity due to its business advantages, particularly Japan, which ranked sixth and Singapore, which came in seventh.
Aside from analysing the performance of countries, the WCR looks at ways High-Net-Worth Individuals (HNWI) protect and grow their wealth. This includes implementing an effective financial plan that considers inheritance and wealth taxes and investing in emerging valuable assets like cryptocurrency.
Five Motivators of the World Citizenship Report
The WCR is analysed on the five following motivators most important to global investors looking for second citizenship.
- The Safety and Security motivator evaluates the ability to enjoy greater social safety and physical security for oneself, and one’s family without the fear of being trapped in dangerous territory.
- The Economic Opportunity motivator evaluates the ability to utilise robust corporate structures, better employment prospects and wider business opportunities.
- The Global Mobility motivator evaluates a citizenship’s freedom to travel for leisure, lifestyle, business, medical or safety purposes.
- The Quality of Life motivator evaluates a citizenship’s ability to access territories with higher social and institutional stability and its higher standards of education and healthcare.
- The Financial Freedom motivator evaluates a nation’s geographical diversification, protection of assets from government overreach or corruption, and ability to facilitate wealth structure in a more tax-efficient manner.
Citizenship by Investment – An Effective Tool for the World’s Wealthy
The WCR finds that CBI is an effective tool for the world’s wealthiest and has become a trend exacerbated during the pandemic. CBI offers an alternative and time-effective solution for those who do not have access to dual citizenship in traditional ways. It ultimately enables applicants to obtain a second citizenship, often within three to four months, without any former ties to the nation, as long as they can pass a multi-tiered vetting procedure.
Around a dozen countries offer CBI solutions. However, there is a higher concentration of CBI nations in the Caribbean region. The Caribbean nations that provide CBI options are ranked in the top 30% of the WCR. The region scored highly in the Safety and Security, Quality of Life and Global Mobility motivators, proving that it can be an ideal location for investors seeking to secure a better future for themselves and their families.