The World Citizenship Report (WCR) is the first-ever endeavour to investigate the value of citizenship through the lens of the global citizen ...
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The World Citizenship Report (WCR) is the first-ever endeavour to investigate the value of citizenship through the lens of the global citizen.
World Citizenship Report 2022
Table of Contents
INTRODUCTION
1.1 Letter from Our CEO
1.2 CS Global Partners and
Our Objectives
ABOUT THE REPORT
2.1 About the Report: The Value
of Second Citizenship
2.2 Key Findings
2.3 Methodology
FEATURES FINANCIAL FREEDOM
ECONOMIC
3. The World Post-COVID OPPORTUNITY 10.1 Overview
4. The Appeal of Citizenship by 6.1 Overview 10.2 The Pitfalls of Financial
Investment During and After
6.2 Asia as a Rising Hub for Planning: Factors to Consider
the COVID-19 Pandemic
Economic Prosperity When Settling Abroad
SAFETY & SECURITY 6.3 Why Are Citizens Leaving
Economic Superpowers? IN CLOSING
5.1 Overview
11. In Closing: Global Trends
5.2 Safe Havens – A Look at QUALITY OF LIFE Shaping the Future in the Face
the Physical Safety and Rights
8.1 Overview of Uncertainty
Protection
11.2 World Citizenship Report
Global Rankings
GLOBAL MOBILITY
9.1 Overview
9.2 5 Key Elements to Attracting
Global Citizens
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World Citizenship Report 2022
SECT IO N
Introduction
Our report delves into the real meaning and significance of citizenship
for the individual. We dissect the driving factors that influence our
decisions and how citizenship can shape our identity.
- Micha-Rose Emmett
Letter from our CEO
The notion of global citizenship means winner, the reality is that we hold a greater
something different for everyone. For me, it responsibility as governments, members
epitomises the obligation to protect, enhance, of civil society and corporations to use the
and develop the world. Concurrently, it also privileges provided by “global citizenship” to
represents for me freedom, opportunity, create a world that is more inclusive, grant
and community. Having recently become a valuable opportunities for the less fortunate,
mother, my priorities shifted allowing me to find solutions to avert catastrophic climate
examine more profoundly my sense of duty, events and allocate the distribution of
Micha-Rose Emmett is a dual- especially in terms of some of the key factors resources more fairly.
qualified lawyer and the founder
accessed in this Index – safety and security,
and CEO of CS Global Partners
quality of life, economic prosperity. As we Not all countries are created equal, but
grow older, our lives become less fixated a common goal of many governments
on ourselves and start pivoting around the around the world is the quest to create
future of our children and our grandchildren. an environment that meets the social and
Our decision-making is built around shared economic needs of its people. How does one
collective needs. define the “ideal” country? I do not believe
that there is a single country that is perfect,
Despite measuring the performance of every despite only one country securing the top
country and seeking to establish one as spot in our Index.
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World Citizenship Report 2022
SECT ION
Introduction
The beauty of holding multiple highest. And yes, you can argue that occasion to fully grasp the meaning
citizenship includes belonging to with a second citizenship the ability to of citizenship, by unfolding the
various communities and accessing be mobile means providing another interconnection of the individual with
opportunities that may otherwise be layer of safety and security – and, again, the collective, the personal sphere with
unattainable in one’s birth country or yes it does, but ultimately, as human the macro socio-economic realm, and
country of origin, as it were. And the beings, we need a place in which to illuminating on the aspects that build
benefits are multitudinous – not only be rooted, and that home should offer identity and belonging. And, while
in the widely obvious way, but also by adequate safety for one’s family. research methods often tend to favour
considering the richness about forming the selection of empirical, quantitative
part of different communities, and Our report delves into the real meaning data to project the value that citizenship
enhancing the understanding of other and significance of citizenship for holds in granting the attainment of
cultures, as well as of oneself. However, the individual. We dissect the driving individual aspirations and demands, we
the prime incentive in deciding to take factors that influence our decisions and decided to rely on the combination of
a second citizenship or residence in how citizenship can shape our identity. the real experiences of global citizens,
another country remains one featuring Launching this Index in 2022, two the resources made available from
the core interests which drive our innate years into the pandemic, the incentive reliable authorities, and the extensive
need for better quality of life. to obtain dual citizenship is certainly knowledge of our trusted network
highlighted by the substantial insecurity of industry experts. Through this
This report helps demystify the standing surrounding our lives and the future of ensemble of strategies and techniques,
of every country in the globe in context our families. the success of the WCR is in fact, secured.
of motivators that determine what we Enlightening on both the nations that
consider important in our lives in order So, in 2022, we exist in a world where offer the most valuable citizenships,
for us to thrive. Through our focus citizens no longer want to be labelled by and the ways in which citizenships grant
groups and data gathering, we realised the country in which they reside or they benefits to citizens across the world.
that global mobility was not a main were born, but rather to decide where
motivator. Therefore, the idea was to one can manifest feelings of home. To
design a way to measure this finding - make this decision a bit easier, with
with so many other indices estimating great pride, we have released the World
passport strength, I felt we needed to Citizenship Report (WCR) in Q1 2022.
dig deeper. So, we invited a diverse
range of individuals from different Our report delivers a data-intensive
countries across the world, who we product that highlights the importance
classified as global citizens, to answer of citizenship, not merely focusing
some simple questions on their dual on passport power, or the perceived
citizenship status. What emerged was benefits of living in First World
an intimate and honest conversation countries. We use a holistic approach to
about the meaning of belonging. When concentrate on the factors that global
I originally envisioned this project, I citizens consider when deciding where
wanted to rate countries on how much to live, work and educate themselves
mobility the citizenship offered, as this is and their families and place down
a core advantage of second citizenship secondary roots.
and a primary reason explaining why
many individuals seek to obtain it. But, So, I invite you to delve into each
it is not! Yes, mobility means increased motivator and establish what factors
freedom and accessibility, but through would motivate you to seek an
in-depth research and analysis, it could alternative citizenship. The World
be noted that safety and security rank Citizenship Report is an exceptional
4
World Citizenship Report 2022
CS Global Partners and
Our Objectives
CS Global Partners is the By producing a data-
world’s leading government based overview of almost
advisory and marketing firm, every country of the globe,
specialising in Residency and this report highlights the
Citizenship by Investment strengths and weaknesses
solutions. We work closely with of each of these countries
governments to increase their through assessment of
foreign direct investment and five key motivators. The
drive positive transformation standard of research and
in their countries. We data compiled over several
understand what successful years, positions the report as
businesspeople expect the ultimate guide to looking
when seeking an alternative beyond traditional needs
citizenship and are able and attesting the holistic
to assist governments to requirements of global
meet these expectations. citizens within the climate of
With our years of expertise, the contemporary world and
professionals from all corners the countries that successfully
of the world rely on our advice accomplish their aspirations.
regarding the best citizenship
and residency programmes
for their clients.
As a firm that is committed to
increasing countries’ revenue
through the programmes
that we market and the
governments that we advise,
we have identified the
challenges faced by global
citizens and the opportunities
that they require for future
growth, family succession
and economic prosperity. In
understanding their needs, we
are able to guide the process
of matching progressive and
innovative countries with
skilled, talented and wealthy
individuals.
5
World Citizenship Report 2022
S ECT ION
About the Report
About the Report
The World Citizenship Report (WCR) is the first-ever endeavour Successively to about five years of research, the culmination
investigating the value of citizenship through the lens of the of data has resulted in a ranking of almost every country in the
global citizen. world to demonstrate how they fare on the key components
of global mobility, quality of life, financial freedom, economic
As many parts of the globe progressively recover from opportunity and safety and security.
COVID-19, individuals are relinquishing hope in the ability
of governments to manage crises of various nature, The world has changed and so too have the needs of global
including pandemics, climate change and wealth inequality. citizens. Therefore, this WCR is an in-depth analysis of the
Consequently, mass affluent markets are assessing in which behaviour of the citizen of the novel era and of the ways in
countries it is most profitable to become global citizens, in which countries have either prospered or failed to accomplish
order to attain their needs. their needs.
Adopting a holistic approach to ranking across multiple
dimensions, the report draws on data from the World
Citizenship Reprt (WCR), a research-driven product that
transcends ordinary concepts of passport strength by
attributing greater significance on the diverse attitudes
towards the key facets of second citizenship.
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World Citizenship Report 2022
The Value of Second Citizenship
SAFETY AND • Ability to enjoy greater social safety and security for oneself and family
• Safety-net against being trapped in a dangerous territory
SECURITY
• Ability to access major business hubs
ECONOMIC • Increased access to better employment prospects and wider business
OPPORTUNITY opportunities
QUALITY • Accessing to territories with higher social and institutional stability
OF LIFE • Higher standards of education and healthcare
GLOBAL • Empowering greater freedom to travel for leisure and lifestyle
MOBILITY • Insurance policy to enable travel for medical or safety emergencies
• Allowing geographical diversification
FINANCIAL • Protecting assets from government overreach or corruption
FREEDOM • Facilitating wealth structure in a more tax efficient manner
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World Citizenship Report 2022
S ECT IO N
About the Report
Key
The 2022 World Citizenship Report
Findings
measures 187 countries against five
motivators that are relevant amongst
High Net-Worth Individuals.
TOP 10 Countries Overall
1. Switzerland
2. Denmark
3. Finland
4. Sweden
5. Norway
6. New Zealand
7. Netherlands
8. Japan
9. Singapore
10. Germany
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World Citizenship Report 2022
Across the seven continents, many nations unexpectedly outshone their larger and more economically developed counterparts
by performing well in each motivator.
5
3
4
2 98%
7
1
10
98% 8
9
6
9
World Citizenship Report 2022
S ECT IO N
About the Report
SAFETY AND SECURITY
East Asia & Pacific Europe & Central Asia Latin America & Caribbean
New Zealand 96 Iceland 96 Uruguay 82
Japan 88 Switzerland 94 Costa Rica 79
Australia 87 Norway 93 Dominica 77
Singapore 84 Denmark 93 Barbados 77
Taiwan Finland Saint Vincent &
82 91 75
the Grenadines
Middle East & North Africa North America South Asia
Qatar 69 Canada 92 Bhutan 78
United Arab
Emirates 66 USA 67 Sri Lanka 60
Kuwait 66 Nepal 56
Oman 62 Maldives 55
India 51
Africa
Mauritius 80
Botswana 76
Cape Verde 70
Namibia 70
Ghana 69
10World Citizenship Report 2022
ECONOMIC OPPORTUNITY
East Asia & Pacific Europe & Central Asia Latin America & Caribbean
Singapore 85 Netherlands 82 Chile 71
Hong Kong 83 Switzerland 82 Mexico 65
(SAR China)
Japan 82 Germany 82 Uruguay 64
Taiwan 80 Denmark 81 Colombia 63
Australia 79 Sweden 81 Costa Rica 62
Middle East & North Africa North America South Asia
Israel 77 USA 84 India 61
United Arab 75 Canada 80 Maldives 60
Emirates
Qatar 73 Sri Lanka 57
Saudi Arabia 70 Bhutan 55
Bahrain 69 Bangladesh 52
Africa
Mauritius 64
Botswana 62
Cape Verde 60
Namibia 57
Ghana 56
11World Citizenship Report 2022
S ECT IO N
About the Report
QUALITY OF LIFE
East Asia & Pacific Europe & Central Asia Latin America & Caribbean
Australia 90 Switzerland 92 Chile 78
Hong Kong 88 Monaco 91 Argentina 76
(SAR China)
Japan 88 Norway 91 Costa Rica 74
New Zealand 88 Denmark 91 Uruguay 74
Korea 85
(Republic) Sweden 91 Panama 73
Middle East & North Africa North America South Asia
Israel 85 USA 87 Sri Lanka 68
United Arab Canada 87 Maldives 64
81
Emirates
Bahrain 77 Bhutan 59
Saudi Arabia 75 India 55
Bangladesh 55
Africa
Seychelles 72
Mauritius 73
Suriname 37
Botswana 39
Gabon 25
12World Citizenship Report 2022
GLOBAL MOBILITY
East Asia & Pacific Europe & Central Asia Latin America & Caribbean
Japan 91 Germany 88 Chile 83
Singapore 91 Finland 88 Argentina 79
Korea 88 Luxembourg 88 Bahamas 78
(Republic)
New Zealand 87 Spain 88 Brazil 76
Australia 86 Italy 88 Barbados 75
Middle East & North Africa North America South Asia
United Arab 82 USA 87 Maldives 37
Emirates
Israel 75 Canada 86 Bhutan 23
Qatar 45 India 22
Kuwait 43 Sri Lanka 17
Nepal 15
Africa
Mauritius 73
Seychelles 72
South Africa 43
Botswana 39
Suriname 37
13World Citizenship Report 2022
S ECT IO N
About the Report
FINANCIAL FREEDOM
East Asia & Pacific Europe & Central Asia Latin America & Caribbean
New Zealand 91 Denmark 87 Chile 70
Singapore 91 Sweden 84 Uruguay 66
Hong Kong 88 Norway 83 Costa Rica 63
(SAR China)
Australia 87 Finland 83 Bahamas 61
Japan 86 Switzerland 81 Barbados 61
Middle East & North Africa North America South Asia
United Arab 76 USA Bhutan 37
78
Emirates
Israel 68 Canada 76 India 56
Qatar 66 Sri Lanka 50
Kuwait 62 Maldives 48
Oman 62 Nepal 48
Africa
Mauritius 67
Rwanda 65
Seychelles 64
Botswana 63
Cape Verde 57
14World Citizenship Report 2022
We exist in a world where citizens no longer
want to be labelled by the country in which they
reside or they were born, but rather to decide
where one can manifest feelings of home.
- Micha Emmett
15World Citizenship Report 2022
SECT ION
About the Report
METHODOLOGY
A high number of individuals underestimate the value of
the citizenship and nationality that they acquire at birth.
The possibilities it affords them to move freely between
different jurisdictions, the protections it guarantees So, there’s a sense of safety and
under law, and the safety and security it provides for security, ‘my assets will be safe and
themselves and their family are rarely adequately
secure. That way I can structure
appreciated. However, for the many people who do not
enjoy these benefits, citizenship can also represent the my assets and my estate. Should
lock to the jail that imprisons them. anything happen to me, I can trust
the law to protect me and my family.’
Indeed, the increasing economic and political instability
So, these are quite key things.
that marks many parts of the globe has created a new
urgency for acquiring second citizenship – a trend
Research participant
further accelerated by COVID-19 – which stems as a
reflection of the continued importance of the citizenship
solutions industry.
jurisdictions across five motivators of citizenship out of a
What are the underlying motivations and concerns maximum attainable score of 100 points.
that are experienced by international families and
businesspeople seeking to enhance their global mobility? Although some of the motivations behind the pursuit of
What relevance do they assign to the many different an additional citizenship are more renowned, very little
aspects that compose citizenship? empirical data exists which specifically examines these
phenomena from the perspective of an HNWI. As such,
The World Citizenship Report (WCR) attempts to clarify mixed- methods research techniques were employed
these issues with the World Citizenship Index, an both to determine the factors at play in the decision-
innovative tool that adopts a holistic paradigm to ranking making processes of second citizenship seekers, and
the citizenships of the world across multiple dimensions. to measure the relative value placed on each of these
The WCR is the product of a research-driven approach factors. This multidimensional approach ensured that the
that transcends ordinary notions of passport strength by attitudes under investigation were captured as accurately
attributing greater significance to the diverse attitudes and meaningfully as possible.
regarding the key facets of second citizenship. Unlike
other rating methods, the WCR ranking is designed to Consequently, rather than relying exclusively on value
reflect the citizenship’s value through the lens of the judgements to construct and weight the WCR, the
typical citizenship investor: the High Net-Worth Individual unparalleled network of industry experts and access
(HNWI) global citizen. to global citizens was leveraged to isolate the major
motivations behind citizenship investment. These
Overview factors were then further explored and validated by
surveying the view of global HNWIs on the value of
The unique methodology of the WCR relies on the second citizenship.
experience gained through our unparalleled work in
the Citizenship by Investment (CBI) industry, as well The WCR methodology can be broken down into three
as comprehensive empirical research to evaluate 187 distinct stages:
16World Citizenship Report 2022
STEP 1 STEP 2 STEP 3
In-depth interviews and Findings from the qualitative Selection of index components and
focus groups conducted with existing data analysis are used to design a weightings is completed after a final
global citizens and experts within custom survey to test both the validity review of the data and consultation
the citizenship solutions industry to and relative importance of the themes with our experts. Overall country
identify the most important themes gleaned from interviews. The survey scores are calculated as a weighted
pertaining to the value of second is completed by over 500 HNWIs from average of the five principal
citizenship around the world. motivators scored using official
statistics sources.
Figure 1: The three stages of the WCR methodology
1 Switzerland 88.1
2 Denmark 88.0
3 Finland 86.9
3 Norway 86.9
3 Sweden 86.9
4 New Zealand 86.8
5 Netherlands 85.9
6 Japan 85.8
7 Germany 85.7
7 Singapore 85.7
8 Canada 85.5
8 Iceland 85.5
9 Austria 84.8
10 Australia 84.6
10 Luxembourg 84.6
11 Ireland 84.4
12 United Kingdom 84.2
13 Liechtenstein 84.1
14 Belgium 82.7
15 San Marino 81.3
16 France 81.1
17 Portugal 80.3
18 Hong Kong (SAR China) 80.2
19 Spain 80.1
20 United States of America 80.0
Rank Country WCR Score
Figure 2: Top 20 list of 2022 WCR scores
17World Citizenship Report 2022
SECT IO N
About the Report
Selection of the WCR indicators The core citizenship themes and insights distilled from
the qualitative analysis of interview data were then
Due to the multiplicity of benefits that a citizenship can directly applied for the design of a survey to further test
grant, the judgement on the principal elements that both their validity and relative importance. The survey
would comprise the WCR was a critical methodological was completed by over 500 HNWIs.
consideration. This was achieved through a rigorous
research process employing both qualitative and
quantitative techniques that outlined the answer to
two fundamental questions:
What are the driving forces behind HNWIs pursuing
an additional citizenship?
How much relative importance is placed on each of
these factors?
APAC Europe Africa
32.8% 26.5% 3.3%
North America Latin America Middle East
32.2% 3.7% 1.5%
Figure 3: Breakdown of research participants by region
18World Citizenship Report 2022
Calculating the WCR The wide-ranging scope of the WCR permits to,
occasionally, avoid extending data for the quantitative
The unique methodology of the WCR is a product of indicators to all jurisdictions, where it is estimated by
comprehensive qualitative and quantitative research drawing on regional and national income averages (GNI)
to evaluate 187 nationalities across five motivators of as specified by the World Bank. The countries excluded
citizenship according to their value to HNWIs across the from the WCR due to the lack of a sufficient number
globe. The nested structure of the Index can provide a of data sets are the following:
reader with an improved understanding of the ways in
which each element of citizenship performs both within Republic of Fiji
and between different jurisdictions. Solomon Islands
Kiribati
In order to quantify and construct a score for each of Marshall Islands
the five motivators of the WCR, reliance was placed on Micronesia
publicly available, official statistics sources published Nauru
by the World Bank Group (WBG), the World Economic Samoa
Forum (WEF), the United Nations World Tourism Tonga
Organisation (UNWTO), United Nations Development Tuvalu
Programme (UNDP), and other internationally renowned North Korea
institutions. Vatican City
The WCR was calculated using a weighted average based on the following five motivators:
Safety and Security (SS) – 25% WCR ranking
Economic Opportunity (EO) – 25% WCR ranking
Quality of Life (QL) – 25% WCR ranking
Global Mobility (GM) – 15% WCR ranking
Financial Freedom (FF) – 10% WCR ranking
19World Citizenship Report 2022 THE WORLD POST-COVID The outbreak of the COVID-19 pandemic, widely regarded as one of the most serious crises of recent times, has had a wide-ranging impact on almost every realm of society, from domestic life to the global economy. The rapid deterioration of global healthcare systems represented the mere beginning of an ample set of events that featured the urgent imposition of response measures against the spread of the virus such as social distancing, self-isolation, and travel constraints. These restrictions dramatically reduced the workforce and wreaked far-reaching damage across all economic and social sectors. 20
World Citizenship Report 2022
Safety and Security
Safety and security play an essential part in our lives since
they provide a sense of stability. However, with the onset
of the COVID-19 pandemic, for many, this domain has come
into question.
A recent survey of more than 5,000 respondents undertaken
in Germany, France, the United Kingdom, Italy and Spain
investigated the varying perceptions that people retained
around the COVID-19 crisis and the ways in which it affected
their sense of safety in relation to their place of work and trust
in their governments.
KEY FINDINGS
Women and younger respondents
experienced greater anxiety about their
financial security. Across all countries,
women were between 3% and 9%
more concerned than men about their
financial situations. Millennials were
similarly affected, being the most
worried age group across all countries.
Governments endured a substantial loss
of trust. Decisions around mandatory
protective masks and limits to the
number of customers permitted inside
of stores have been perceived as more
safe and secure. In contrast, the closing
of shops, bars and travel restrictions
have instilled greater insecurity in all five
nations. In Germany, school closures
and curfews appeared to be more
polarizing than in other countries.
Over half of all respondents under the
age of 30 faced faltering confidence about
finding employment after completing
their studies due to the COVID-19
pandemic.
21World Citizenship Report 2021
SECT IO N
Features
Economic Opportunity
Although over a billion people have been lifted out of South Asia, followed by Sub-Saharan Africa. The latest Poverty
extreme poverty since 1990 despite the 2008 financial and Shared Prosperity Report suggests that most of those
crisis, data indicates that COVID-19 has significantly slowed affected are engaged in informalised services, construction
the rate of global poverty reduction. The World Bank has and manufacturing – all sectors in which economic activity is
estimated that an additional 88 million people fell into most affected by lockdown and other mobility restrictions.
extreme poverty in 2020 due to both the direct and indirect
consequences of COVID-19. Figure 4: The red and blue lines evidence the extent to
which COVID-19 has hindered the pre-pandemic historical
Additionally, the World Bank predicts that the largest share of downward trend for global poverty.
the newly impoverished demography will be concentrated in
KEY FINDINGS
4.2% decline in GDP per capita in 2020 (United An estimated -3.3% to -4.3% contraction in
Nations Department of Economic and Social world GDP in 2020, considerably worse than
Affairs) during the 2008 financial crisis (International
Monetary Fund and World Bank)
A decrease in international tourism receipts of
USD 1.3 trillion in 2020, compared to the USD
400 million full-time jobs lost globally
1.5 trillion generated in 2019 (United Nations
between April and June 2020, with global in-
World Trade Organisation)
come earned by workers reduced by 10% in
the first nine months of 2020, equivalent to
A fall of global merchandise trade volume
a loss of over USD 3.5 trillion (International
by 5.3% in 2020 compared to 2019 (World
Labour Organisation)
Trade Organisation)
22World Citizenship Report 2022
Global Mobility
As many governments review travel restrictions like Ghebreyesus highlighted that solely in high-income countries,
international border closures, imposed quarantines and one in four people had been vaccinated, a ratio that decreases
health requirements, citizens continue to experience the to one in five hundred in poorer countries.
impact on their global mobility.
In addition to privacy concerns, there is a tangible prospect
A decline in aviation for COVID-19 passports to widen the disparities between
developed and developing economies across major areas of
Lockdowns and border closures elaborated the most extensive human development and elevate anxieties around privacy
suspension of international air travel in history, with the and data protection.
number of passengers on international flights diminishing by
92% in comparison to the same months in 2019, according to “States Parties are strongly encouraged to acknowledge the
data from the International Civil Aviation Organisation (ICAO). potential for requirements of proof of vaccination to deepen
inequities and promote differential freedom of movement,”
The ICAO also estimated a reduction of approximately 60% in stated the WHO.
global air passengers in 2020, resulting in a USD 371 billion
loss in gross passenger operating revenues. Furthermore, the
organisation estimated a loss of 66.3% (over USD 125 billion)
in airport revenues in 2020 compared to business as usual.
A growing gap between the haves and the have-nots
The spread of the COVID-19 virus has deeply curtailed the
mobility prospects of some segments of society, including
refugees and migrant workers, whose urgency to move is
compelled by necessity, while having little impact on business
travellers and other individuals that possess the resources
to cross borders for work, family or tourism. This gap is
presumed to persist, especially as travel rules begin to favour
those vaccinated or tested against COVID-19.
A central debate around the pandemic restrictions concerns
COVID-19 passports, deemed to have the potential of
acquiring the highest significance on the future of global
mobility. While there are valid arguments to be made both
in favour and contrary to the deployment of COVID-19
passports, their distribution is intrinsic to the administration
of the vaccines against COVID-19 .
During a meeting of the United Nations in April 2020, Director-
General of the World Health Organisation (WHO), Tedros
Adhanom Ghebreyesus, highlighted that of the 832 million
vaccine doses administered, 82% have gone to high or upper-
middle-income countries, while only 0.2% have been supplied
to their low-income counterparts. Furthermore, Adhanom
23World Citizenship Report 2022
SECT IO N
Features
Quality of Life
The most tragic effect of the pandemic has been the around
two million deaths from COVID-19 in 2020, a rise of nearly
4% in the annual number of deaths worldwide, which
represents a severe social welfare loss. In addition to this
crisis, the rest of the population was subject to greater
economic insecurity, anxiety and, for many people, stress
and challenges to mental and physical health.
KEY FINDINGS
According to the 2020 World Happiness
Report, the inability to work has damaged
well-being, with unemployment during the
COVID-19 pandemic becoming associated
with a 12% decline in life satisfaction and
a 9% increase in negative affectivity. For
labour market inactivity, these figures
are 6.3% and 5%, respectively. While
young people report lower levels of well-
being than other age groups, the effect
of not being able to work is less severe
in comparison to that experienced by
older cohorts, suggesting that they may
be more optimistic about future labour
market opportunities post-COVID-19.
Countries that have introduced more
substantial labour market protections for
workers have generally witnessed less
severe declines in well-being.
Global GDP is estimated to have
diminished by roughly 5% in 2020,
representing the largest economic
recession in a generation. In many
countries, job vacancies remained
approximately 20% below normal levels
by the end of 2020. Young people, low-
income, and low-skill workers have also
been more inclined to lose working hours
or their jobs.
24World Citizenship Report 2022
Financial Freedom
Growing financial and economic uncertainty and Investment immigration firm CS Global Partner saw a 42%
government supervision, which previously caused incline of interest in investment citizenship from Americans
considerable concerns for investors, intensified during in 2020 compared to the previous year. “One of the most
the COVID-19 pandemic. In response, greater geographic significant consequences of the pandemic was the United
and personal investment diversification, as methods to States’ decline in passport power, leaving HNWIs without
hedge against further market deterioration, concurrently the ability to travel as freely as pre-pandemic. However,
developed further. For example, the global wealth of those who held second citizenship and passport could
HNWIs experienced a net decline of 3% in 2018, after the enjoy loosened restrictions, continuing to conduct business
multi-year increases observed since 2012. globally without any major impact,” the company stated.
At the present time, rising trade tensions and geopolitical
unrest, identified as the root causes of the 2018 economic
decline, are even more pronounced. Therefore, a high
number of investors considered gold as a safeguard against
systemic risks, such as banking sector failure, sovereign
defaults, or hyperinflationary events that the effects of
the COVID-19 epidemic could trigger. Indeed, this elevated
threat in global markets witnessed gold significantly
outperform other major asset classes in the first half of
2020.
Bitcoin
2021 has been the year during which conventional
business and finance embraced bitcoin. Having surged
from USD 28,989 on January 1 to a peak of USD 64,900
on April 14, the wave of institutional pile-ins and high-
profile announcements on new participation by major
industries have placed digital assets at the forefront
of the investment mainstream. Its ability to allow for a
borderless, decentralised transfer of value without financial
intermediaries and with reduced government oversight
attracts more HNWIs. On this regard, however, the impacts
of the COVID-19 crisis have merely reinforced trends that
were gathering momentum in the years prior.
COVID-19 and the Immigration Industry Boost
While demand for European Citizenship by Investment (CBI)
programmes is not prospected to increase significantly
due to the growing regulatory scrutiny performed by
the European Commission, the overall demand for CBI
and Residency by Investment (RBI) programmes rose
considerably during the COVID-19 crisis.
25World Citizenship Report 2022
SECT IO N
Features
The Appeal of Citizenship by
Investment During and After the
COVID-19 Pandemic
The COVID-19 pandemic subjected passport power is a more nuanced task. What is Citizenship by Investment?
international, regional and local travel to The worldwide travel limitations
significant restrictions and questioned introduced during the global epidemic CBI programmes usually offer the
whether healthcare systems could caused recurrent travellers to be opportunity to legally acquire the
adequately manage a global health prevented from moving to different citizenship of a country in return for a
crisis. As a result, many High Net-Worth destinations as frequently, often contribution to a government fund of
Individuals (HNWIs) began focusing highlighting the obstacles that could that country or an investment into one
more acutely on the importance emerge based on their citizenship. of its pre-approved real estate projects.
of issues such as their quality of However, individuals who possessed Such programmes confer citizenship
life, healthcare, safety, security, and dual citizenship were able to move status without adding any serious
financial planning. with greater freedom. The pandemic’s burden onto an investor’s life, provided
impact on global mobility is of particular that they successfully pass all of the
When the COVID-19 virus outbreak hit, it relevance to HNWIs and/or those due diligence checks required, make a
impacted the realm of investment, along seeking additional citizenship either qualifying investment, and submit all
with that of passport power. Unlike through traditional routes or through the correct documentation.
estimations of the economic effects of Citizenship by Investment (CBI).
COVID-19, which rely on multiple data
points to indicate the performance of Those with such needs are increasingly
developing nations against that of their considering the Caribbean as a region that
developed counterparts, drawing a could be of convenience to do just that.
picture of the consequences concerning
“Being bound to a single country and its government can
limit your freedom. With current global uncertainty, travel
restrictions, and crises, investors are concerned about future
market volatility and the security of their wealth, assets and
lifestyle within their home countries. This uncertainty further
fuels the desire among wealthy individuals to incorporate
second citizenship as part of their portfolio,” says Micha Emmett,
CEO of CS Global Partners, the world’s largest government
advisory and marketing consultancy specialising in
Citizenship by Investment.
26World Citizenship Report 2022
Caribbean Citizenship by Investment
Currently, fourteen countries offer CBI solutions. However, there is a higher concentration in the Caribbean region, which is
considered the cradle of CBI.
The Caribbean nations that provide CBI options are ranked in the top 30% of the World Citizenship Report (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.
Launched in 2013, ANTIGUA AND BARBUDA’S
Citizenship by Investment Programme grants citizenship in exchange
for an investment in one of four investment options. The nation placed
at the 50th position overall, receiving high marks for Safety and Security,
Quality of Life and Global Mobility motivators.
ST KITTS AND NEVIS’ Citizenship by Investment
Programme, established in 1984, is the longest-running in the world.
Being the first of its kind, the Programme is also one of the most
reputable and has become known as the ‘Platinum Standard’ brand
in the industry. After over three decades, the twin-island nation
continues to be a popular option for investors and their families due to
its longevity and commitment to due diligence processes. The country
scored a respectable score of 48 points in the overall rankings, the
highest of all the Caribbean CBI nations. It reached top marks in the
Safety and Security, Quality of Life and Global Mobility motivators.
SAINT LUCIA’S Citizenship by Investment Programme
was launched in 2016, making it the most recently introduced
DOMINICA’S Citizenship programme in the Caribbean. The Programme inherited decades
by Investment Programme was of experience from its neighbours, amalgamating practices from
launched in 1993 and has been its surrounding islands. Saint Lucia ranked 53rd in the WCR,
ranked as the number one CBI scoring high marks for Safety and Security, Quality of Life and
initiative for five consecutive years Global Mobility motivators.
in the CBI Index, published by the
Financial Times’ Professional Wealth
Management magazine. The nation
GRENADA’S Citizenship by Investment
is politically and economically
Programme was restructured, redeveloped, and
stable, with a low crime rate and rich
relaunched in 2013 and is a firm favourite among HNWIs,
investment opportunities. Known as
particularly those with larger families. Grenada, known
the Nature Isle, Dominica placed in
as the Spice Island, ranked 54th in the World Citizenship
the 52nd spot, achieving high marks
Report, receiving high scores in the Safety and Security,
for Safety and Security, Quality of Life
Quality of Life and Global Mobility motivators.
and Global Mobility motivators.
27World Citizenship Report 2022
SECT IO N
Features
Their proximity in the ranking reflects the sense of community and collaboration that characterises Caribbean countries. For
example, all the Caribbean nations hosting CBI programmes are members of CARICOM, which is committed to promoting
and supporting a unified Caribbean Community that is inclusive, resilient, and competitive to share in economic, social and
cultural growth.
Safety & Economic Quality of Global Financial
Ranking
Security Opportunity Life Mobility Security
St Kitts and Nevis 48 73 60 71 71 57
Antigua & Barbuda 50 73 60 70 69 59
Dominica 52 77 60 67 67 58
Saint Lucia 53 73 60 68 68 60
Grenada 54 73 60 69 69 53
Before the COVID-19 outbreak, investors considered CBI as a their investment options to ensure that they are fully
tool to further benefit from visa-free travel, with the liberty of equipped in the event of a new emergency. These options
increased movement being treated as a priority. However, the include investing in citizenship.
pandemic was a leveller in most cases. Powerhouse countries
like the United States and the United Kingdom were forced to Before the COVID-19 crisis, growing financial and economic
attest their presence on the travel ban lists of other countries, uncertainty, government scrutiny, and the need to achieve
and citizens witnessed their healthcare systems experience greater geographical diversification represented already
considerable constraints. This changed the priorities of an some of the principal drivers encouraging investors to
economic citizenship investor. seek solutions that could protect them from the further
deterioration of the markets.
While the degree to which the COVID-19 epidemic has affected
the global economy can be considered critical, its impact on HNWIs have begun to view having second citizenship as a
our fundamental freedoms is even graver. None is more valuable asset – a way to circumnavigate border closures and
precious to the global citizen than the freedom of movement to enhance their quality of life while ensuring a bright future
and the ability to travel. Travel restrictions have severely for themselves and their families. Furthermore, they regard it
limited the ability of many people to pursue migration as a as a powerful tool to diversify their wealth and assets.
tool to participate in the global economy, do business, and
escape political conflict, economic collapse, environmental Therefore, as contemporary global trends have abruptly
disasters and other crises. caused the world to become less mobile, wealthy individuals
have started to further consider CBI as a means to secure a
Governments channel the revenue generated under CBI ‘bolt hole’ in the prospect that issues arise, and to alleviate
programmes into initiatives to boost national development, safety concerns and travel restrictions.
sustainability, access to education, economic growth, tackling
climate change, and protecting citizens during critical times.
In the post-pandemic period, these nations are aware of
the importance of having funds available to stimulate the
economy and guarantee prosperity for all of their citizens.
As many governments review their policies to avoid or
prepare for the next pandemic, HNWIs are also studying
28World Citizenship Report 2022
Despite measuring the performance
of every country and seeking to
establish one as winner, the reality is
that we hold a greater responsibility
as governments, members of civil
society and corporations. We need
to use the privileges provided by
“global citizenship” to create a world
that is more inclusive, grant valuable
opportunities for the less fortunate, find
solutions to avert catastrophic climate
events and allocate the distribution of
resources more fairly
- Micha Emmett
29World Citizenship Report 2022
SAFETY & SECURITY
In the hierarchy of needs coined by American
psychologist, Abraham Maslow, safety TOP 10 COUNTRIES BY SAFETY &
ranks only lower to physiological needs that SECURITY
encompass procuring food and water. In this
report, safety and security is the motivator Rank Country Score
1 Iceland 1.1
that takes the highest priority, especially
considering the contemporary lack of stability
experienced worldwide. 2 New Zealand 1.253
The safety and security motivator measures 3 Denmark 1.256
4 Portugal 1.267
the extent to which second citizenship can
offer greater safety and security to the citizen
and it accounts for 25% of a nation’s ranking
5 Slovenia 1.315
in this report. It comprises of several factors,
including a country’s control on corruption, 6 Austria 1.317
7 Switzerland 1.323
the rule of law, regulatory quality, government
effectiveness, political stability or no violence,
and voice and accountability.
8 Ireland 1.326
While it is often assumed that High Net- 9 Czech Republic 1.329
Worth Individuals (HNWIs) have the means
to guarantee physical safety and security 10 Canada 1.33
for themselves and their families, no single
individual can be exempt from significant
political upheaval or serious social turmoil.
In this report, safety and
Therefore, being able to avoid enduring a
situation of conflict where one is constricted is
security is the motivator that
of inestimable value.
takes the highest priority,
This component relied on numerous sources
of data including the Global Peace Index (GPI),
especially considering
an annual report produced by the Institute
for Economics and Peace (IEP) that estimates
the contemporary lack
the relative position of nations and regions
of stability experienced
according to their levels of peacefulness.
worldwide.
It is necessary to note that the lower the
score, the better the rank. Overall, Asia-Pacific,
Europe, the Americas and the Caribbean
reached the top of the charts.
30World
World Citizenship
Citizenship Report
Report 2022
2022
31World Citizenship Report 2022
Safe Havens
S ECT IO N
Safety and Security
A Look at the Physical Safety and Rights
Protection
Acquiring a sense of safety and security
is a top priority for all and, interestingly, Regional Average in
one of the biggest motivations when Rank
it comes to migration. According to
the United Nations, the number of 1 Europe 1.607
individuals who had fled conflict, crises, 2 North America 1.834
persecution, violence, or human rights
3 Asia Pacific 1.887
violations between 2000 and 2020
doubled from 17 to 34 million. For 4 Caribbean Geoscheme 2.0476
HNWIs and global citizens, a nation 5 Central AM + Caribbean 2.142
that can offer protection in public 6 Russia and Eurasia 2.213
spaces, guard against wrongdoing and
7 South America 2.18
curate a politically stable domestic
environment also holds great value. 8 Sub-Saharan Africa 2.263
Taking into account both the Global 9 South Asia 2.392
Peace Index (GPI) 2021 and World 10 MENA 2.459
Governance Indicators (WGI), below
are the regions that meet these
requirements and reveal the safest
Homicide, Europe, Oceania, and Asia
destinations in the world.
have the lowest regional murder rates,
each at around three per one hundred
Europe thousand inhabitants, compared to
12.5 in Africa and 16.3 in the Americas.
With no civil wars or state-sponsored
Such a disparate gap between these
political violence in the recent decades,
regions is significant and corresponds
Europe stands out as the most secure
to the rankings discussed in this report.
place to live in. Out of the 25 countries
topping the list of the world’s safest,
North America
the majority are EU countries. Nations
like Iceland, Denmark, Portugal and
Here, Canada alone represents the
Switzerland perform best in this category.
Americas in the top 10. The country
enjoys political stability and little to no
European countries also extend onto
internal conflicts. In a 2018 Global Law
their respective demography high
and Order survey, 84% of Canadians
levels of freedom to express political
participants said that they felt safe in
opinions without fear, which further
their country. In addition to good job
increases their feelings of safety and
opportunities, great access to health-
security there.
care, and effective government, Canada
According to the Global Study on
32World Citizenship Report 2022
has a crime rate that is about one-third Asia Pacific It is vulnerable to natural disasters, but
that of its neighbour, the United States. the government has demonstrated a
The United States, however, is not on The second-best represented region in capacity for quick, effective response.
the list. the top safest countries in the world The country is safe, efficient, and clean,
is Asia. Asia is one of the most diverse and healthcare is of world-class quality
In this report, the United States is listed in continents in the world. It is also the as well as affordable.
72nd place. The United States has fallen in biggest continent in terms of landmass
rankings in every GPI edition since 2016. and population, with a whopping 4.6 Other Asian countries nearing the
Some of the reasons for this sharp drop billion people. top of the list are Singapore, Bhutan,
include a decrease in life satisfaction and and Taiwan. All considerably small in
a growing wealth gap. Japan, in 15 place, has exceptionally low
th size, both in terms of population and
crime levels and strong social cohesion. physical area.
Average WCR Ranking for Caribbean Nations 2019/2020
70. 8
CONTROL OF CORRUPTION
70. 4
65. 6
RULE OF LAW
68
81
REGULATORY QUALIT Y
84. 2
94. 2
GOVERNMENT EFFECTIVENESS
95. 2
35. 8
POLITICAL STABILITY/NO VIOLENCE
54. 2
55. 8
VOICE & ACCOUNTABILITY
54. 2
10 20 30 40 50 60 70 80 90 100
2020 2019
The Caribbean Although the region has seen several
natural disasters in recent years, the
The Caribbean Sea contains some of government has taken action to prioritise
the most beautiful countries in the climate resilience with weatherproof
world. It has also come to be a point of infrastructure. The region has also
choice for Americans and Europeans placed emphasis on physical safety,
looking to enjoy “island life”. Most rule of law, and political stability. Most
Caribbean islands in the CARICOM importantly, Dominica ranks high in
region received 73 points, but the categories like voice and accountability,
Commonwealth of Dominica reached a where citizens feel empowered to hold
score of 77.3, bringing it to 36th place in leaders accountable to their demands
the international arena. and needs.
33World Citizenship Report 2022
ECONOMIC OPPORTUNITY
Access to opportunity plays a prominent part in
allowing a person to achieve their full potential. TOP 10 COUNTRIES BY ECONOMIC
The prospect of a country to provide such OPPORTUNITY
opportunity is both significantly determined
by the success of its economy and a primary Rank Country Score
1 Singapore 84.8
reason for looking overseas to improve
individual future outlooks.
2 United States of America 83.7
The Economic Opportunity motivator measures
the overall ability of a nation to extend wealth, 3 Hong Kong (SAR China) 83.1
4 Netherlands 82.4
material comfort, and other key benefits of a
strong economy to all of its citizens. A powerful
economy leads to increasing possibilities in
5 Japan 82.3
terms of employment, access to business
opportunities, and entrepreneurship, which 6 Switzerland 82.3
Germany 81.8
are factors that are highly valued by High Net-
Worth Individuals (HNWIs). This component 7
relied on numerous sources of data including
8 Denmark 81.2
the Global Competitiveness Report (GCR),
published yearly by the World Economic Forum 9 Sweden 81.2
United Kingdom 81.2
(WEF).
10
The Global Competitiveness Index (GCI) is one
of the most comprehensive tools available,
measuring economic performance across pillars
of competitiveness; these include institutions,
The Economic Opportunity
policies, and factors that govern current and
medium-term levels of economic prosperity.
With a 25% total weighting, the resulting data
motivator measures the
overall ability of a nation
indicates that East Asia dominates the top five
positions of the ranking, securing three places
to extend wealth, material
with Singapore, Hong Kong and Japan.
comfort, and other key
benefits of a strong
economy to all its citizens.World Citizenship Report 2022
35World Citizenship Report 2022
S ECT IO N
Economic Opportunity
Asia as a Rising Hub for Economic
Prosperity
In the late 1960s, Asia had the lowest income levels compared Association of Southeast Asian Nations (ASEAN) and the
to any other continent. As claimed by economist Deepak Shanghai Cooperation Organisation.
Nayyar, this decline was attributed to its integration with a
world economy shaped by colonialism and imperialism. After Asia is also becoming more economically integrated via
50 years, Asia has reached the central stage of the global trade, investment and tourism. In 2019, the reformed
economic system. Trans-Pacific Partnership (TPP) was revived under Asian
leadership. Moreover, the Regional Comprehensive
The WEF estimates that by 2030, the region could contribute Economic Partnership (RCEP), an arrangement forming
roughly 60% of global growth. For this reason, it is not the biggest trade bloc in the world with fifteen Asia-Pacific
astonishing that big Eastern players like Singapore, Hong Kong countries, is projected to be in effect starting 2022. The
(SAR China), and Japan claim three of the top five spots under RCEP is expected to eliminate about 90% of tariffs on
the economic opportunity category in the World Citizenship imports between its signatories. Agreements like this are
Report (WCR). This motivator measures the overall ability of anticipated to eventually evolve and attract new members,
a nation to extend wealth, material comfort, and other key offering a flexible, multi-track path to economic integration
benefits of a strong economy to all of its citizens. in Asia.
The rise of Asia to global significance becomes apparent when Asia helping Asia
assessing primary economic indicators, like the Gross Domestic
Product (GDP). In 2000, Asia accounted for 32% of global GDP China is reducing labor-intensive manufacturing,
in terms of purchasing power parity, as reported by McKinsey. countered with smaller Asian countries gaining a share
This share increased to 42% in 2017 and is on course for a share of this industry. From 2007 to 2017, the manufacturing
of about 52% by 2040. In contrast, the share of Europe declined share of China in terms of GDP increased slightly, from
from 26 to 22%, and North America from 25 to 18% from 2000 30 to 34%, according to an analysis by McKinsey, while
to 2017. The reasons explaining why Asia is shaping the global the sector became a more prominent activity in other
economic landscape are as follows. Asian economies. In Vietnam, for instance, manufacturing
increased from 16% in 2007 to 22% in 2017. South Asian
An interconnected diversity nations are also industrialising at an accelerated pace, with,
for instance, Bangladesh providing a manufacturing share
Asia comprises more than 4.5 billion people – 60% of the world of GDP that rose from 16% to 22% between 2007 and 2017.
population – who live in 49 different nations. However, its
regional diversity presents complementary characteristics and This phenomenon can also be witnessed in some of the
robust interconnected networks. This is evident in the China- more economically advanced Asian countries, investing
Japan-South Korea trilateral summit and regional cooperation in emerging Asian economies. For example, International
systems like the Asia Pacific Economic Cooperation (APEC), the Monetary Fund (IMF) data shows that 79% of Vietnam’s
36World Citizenship Report 2022
foreign direct investment inflows in the electronics sector instance, mostly Hollywoodian style movies and British pop
between 2013 and 2017 arrived from South Korea, assisting music. Today, however, cultural flows go in both directions.
the nation with becoming a hub for electronics manufacturing. Asia has, in fact, sufficient scale, cultural content, and diversity
to amplify its own entertainment blockbusters.
Local innovation
Baidu’s video-streaming affiliate iQiyi.com has been buying
Developed economies in Asia continue to build strong big South Korean TV series watched around the world, and
innovation foundations, including a base of large incumbent Bollywoodian entertainment continues to grow beyond India,
companies and institutions providing capital and knowledge while the Indian industry is responsible for producing the
to power innovation in other Asian economies. largest number of films per year.
In 2018, China, Japan and South Korea spent a combined USD Patterns of globalisation are shifting, and these shifts are
613 billion on research and development, according to Lux occurring faster in Asia than elsewhere. The continent’s
Research, gaining three of the top five spots globally. The diversity, diplomacy, innovation and budding culture suggest
report also said that start-ups in Asia raised USD 107 billion in that more than any other region, Asia’ growing economic
the same year and manufacturing beat all other sectors when opportunity could shape the way worldwide growth unfolds
it came to innovation in China. “Technologies like robotics in the years to come.
and 3D printing are key areas of focus for domestic expertise
as the country continues to ramp up its manufacturing
capabilities and capacity,” as stated in the Lux Research.
COUNTRIES RANKED BY GROWTH
Manufacturing was followed by information technology
(IT) and chemicals and materials. In Japan, chemicals and Rank Country Score
materials led the growth in innovation, while IT surpassed
every other sector in Singapore. 1 Singapore 84.8
India, Indonesia and Singapore have also seen a massive 2 United States of America 83.7
3 Hong Kong (SAR China) 83.1
increase in venture capital funding, with start-ups in these
three countries raising USD 28 billion in the past two years.
4 Netherlands 82.4
A growing hub for people and culture
5 Japan 82.3
Switzerland 82.3
Asia is a major hub for rising flows of people, and its supply
of services, especially for tourism, is expanding. Interregional 6
7 Germany 81.8
tourism within Asia has grown with remarkable speed,
thanks to the development of travel corridors between
countries. Today, Asia is home to 15 of the 25 busiest airports 8 Denmark 81.2
in the world, according to data from the Airports Council
International (ACI). 9 Sweden 81.2
10 United Kingdom 81.2
At the same time, Asia is becoming an increasingly significant
cultural force. In the past, the region was primarily a recipient
of Western cultural trends, with Asian citizens consuming, for
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