Passport Legacy cites that Dubai has retained its stature as the leading hub for Residence and Citizenship by Investment (RCBI) for the second consecutive year; the UAE leads the world with 35 international RCBI specialists in 2022, climbing up from 30 in the previous year.

Turkey saw the biggest jump, rising from eight to 18 RBCI specialists, to now place fifth on the list behind Portugal, the UK, Canada, and the UAE. While other markets like Saint Kitts & Nevis, Malta, and Dominica have also registered notable growth, countries like Russia, Malaysia, Egypt, and Cyprus saw their RCBI offering downsized.

The rationale used for ranking these markets in a recently released report emphasizes the number of countries in which a company has a physical presence rather than the number of offices they have. Other key criteria included firms having upwards of 10 employees, a diverse range of investment migration programs, and investment migration being the company’s primary focus.

The UAE’s Residency-by-Investment program, the UAE Golden Visa, is surging in popularity with over 150,000 people now having secured it. This has helped the country maintain its grip as the top hub for RCBI. It is poised to sustain its growth with the the minimum investment required recently having been reduced and access being opened up to talented individuals across multiple industries.

Jeffrey Henseler, Founder and Managing Partner of Passport Legacy, UAE HQ, said: “The UAE’s rank as the best RCBI hub in the world, is supported by several appealing factors such as world-class infrastructure, a business-friendly environment, a strategic geographic location, and favourable government policies promoting trade and investment. This has also helped the country stand pat with the first-ranked passport in the world. With approximately 5,000 people around the world looking to secure dual citizenship through RCBI each year, and the ongoing success of the UAE Golden Visa incentive, the country will continue being increasingly sought out as a leading destination of choice. Similarly, renowned programs in Caribbean nations like Saint Kitts & Nevis, Grenada and Antigua & Barbuda will see applications continue pouring in with their long-standing track records of success.

Globally, the immigration by investment industry’s 23% annual growth rate can be attributed to increased awareness of the importance of having relevant response measures in place during times of crisis. From the COVID-19 pandemic to the European conflict and now a looming recession, many people are searching for the stability that RCBI provides and this has the global industry poised to exceed USD 100 billion in value by 2025. Passport Legacy is accordingly opening borders through its offices in Dubai, Singapore, Nigeria, Lebanon, and Pakistan. The company has seen a substantial increase in interest in CBI programs with over 300 applicants in 2021 alone.