BRIDGES Insights

How We Calculate: The Methodology Behind Our Analysis

Sergey Evdokimov, Managing Partner, BRIDGESSergey EvdokimovManaging Partner, BRIDGES

Updated: August 202610 min readExpert reviewed

Terms and costs verified: August 2026

Contents

We publish figures that do not exist in open statistics: how many passports have been issued, how much a state receives per document, what share of applications is rejected. It is fair to ask where we get them. Here is a detailed answer.

Levels of reliabilitythree: fact, estimate, forecast
Sources for conditionsstate bodies only
Checking a calculationby two independent methods
Acceptable discrepancyup to two per cent
Client datain aggregate only
Verified29 August 2026

This page describes the sources we use, how we mark estimates, what we do when data are lacking and in which cases we decline to publish a figure at all.

Which sources we use

Type of sourceWhat we takeHow we verify it
The programmes' state bodiesconditions, tariffs, filing procedurea direct link and a check that it is accessible
Central banks and finance ministriesprogramme revenue, budget indicatorspublished reporting
Parliamentary documentsbudget appropriations, lawsofficial publications
International organisations and the European Commissionstatistics on applicants, decisionsthe primary source, not a retelling
The Bridges Global internal databaseactual timelines and case compositionin aggregate, without personal data

What we do not use: aggregators, agency websites, news retellings and search results. Figures on the cost of programmes come only from our internal compilation, which is reconciled with the state bodies' tariff pages.

Three levels of reliability

In every piece we divide statements into three types and label them in words.

Fact. Confirmed by an official source that can be cited. Example: "In 2023, 1,113 applications were filed and 22 rejected."

Bridges Global estimate. A calculation based on official data, or a generalisation from our practice. Example: "On our estimate, 1,900-2,500 applications were approved in 2025." An estimate is always labelled, and on charts it is shown with a muted fill and a dashed outline.

Bridges Global forecast. A judgement about the future, stating the factors that could change it. A forecast is never presented as established fact.

Sergey Evdokimov

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How we calculate what is not in the statistics

The main technique is comparing two independent quantities. If a state publishes a programme's revenue but not the number of passports issued, we take historical periods where both quantities are known, calculate the average collected per document and apply it to periods where only the revenue is known.

A calculation is considered fit for publication if it converges by two independent methods. Example: the average collected per passport on 2014-2019 data was VT 5.19 million; on the VCP and DSP data for 2017-2019 it was VT 5.10 million. The discrepancy is under two per cent, so the figure can be used.

If the two methods diverge substantially, we do not publish the figure and say that the data are insufficient.

Expert comment

Our rule is simple: a client should be able to check any figure of ours, or at least understand how it was obtained. That is why under every chart we state what was included, what was not and as at what date. Analysis that cannot be rechecked is no different from an advertising leaflet, and we do not produce leaflets.

Sergey Evdokimov

A worked example

Let me show how it works on a specific calculation. The question: how many passports did Vanuatu issue in 2024? There is no official figure.

Step one. We take what has been published: programme revenue for 2024 according to the Reserve Bank of Vanuatu — VT 13.8 billion.

Step two. We look for a period where both quantities are known. The programme review for 2014-2019 gives VT 33.75 billion of revenue and 6,500 passports issued.

Step three. We calculate the average collected per passport: VT 5.19 million. We check it by a second method — the VCP and DSP programmes for 2017-2019: VT 26.80 billion over 5,253 passports, or VT 5.10 million. The discrepancy is under two per cent.

Step four. We apply the figure to 2024, adjusted for the investment programmes' share of revenue as stated by the same bank. The result is a range, not an exact number.

Step five. We publish it as an estimate: labelled in words, shown with a dashed outline on the chart, with the method explained under the chart.

Had the two methods diverged by tens of per cent, the figure would not have been published at all.

Why we publish this at all

We could choose not to. The market manages perfectly well without figures: agents quote sums from memory, the client cannot check them, and there is nothing to argue with.

But that is precisely why we calculate. A client who can see the method can check us — and that is the only way to tell analysis from advertising. Figures also get cited: a piece with verifiable data lives for years, while a presentation full of attractive promises is out of date within a season.

What we do not do

  • We do not publish a figure without stating its source or labelling it as an estimate.
  • We do not present a forecast as fact.
  • We do not take data from aggregators or agency websites.
  • We do not disclose information about specific clients: practice is described only in aggregate.
  • We do not promise a result or guarantee approval.
  • We do not write "according to experts" without saying who those experts are.

How often we update

Programme conditions are checked before every publication and whenever there are material changes. Every piece shows the date it was verified — if that date is old, the figures should be confirmed before a decision is made. State tariffs change without notice, so before invoicing a client we request the current amounts from the relevant body.

If you find a discrepancy between our figures and an official source, write to us — we will correct it and note the date of the correction.

We will check the figures for your purpose

We will prepare a calculation at the official tariffs for your family and show what is fact and what is estimate.

Main sources

The Vanuatu Citizenship Commission vancitizenship.gov.vu, the Reserve Bank of Vanuatu rbv.gov.vu, the relevant bodies of the Caribbean programmes, the Court of Justice of the European Union curia.europa.eu, and the EU law portal eur-lex.europa.eu. The information was verified as at 29 August 2026.

Frequently asked

Questions people ask before deciding

01Where do you get figures that are not in official statistics?

We compare two independent quantities. If a programme's revenue is known but not the number of passports, we take historical periods where both are known, calculate the average collected per document and apply it to periods where the revenue is known.

02How can I tell a fact from your estimate?

We label it in words: 'fact', 'Bridges Global estimate', 'Bridges Global forecast'. On charts, official data are shown in solid fill and our estimates in a muted fill with a dashed outline.

03What do you do if the data are insufficient?

We do not publish the figure and say plainly that it could not be confirmed from official sources. A calculation is published only if it converges by two independent methods with a discrepancy of no more than two per cent.

04Do you use data from aggregators and agency websites?

No. Conditions and tariffs are taken only from the official resources of state bodies, and programme amounts from our internal compilation, reconciled with the tariff pages.

05Do you disclose information about clients?

No. Practice is described only in aggregate, without personal data, company names or recognisable details of specific cases.

06What should I do if I find a discrepancy with an official source?

Write to us. We will check it, correct the piece and note the date of the correction.

About the author

Sergey Evdokimov, Managing Partner, BRIDGES

Author: Sergey Evdokimov

Managing Partner, BRIDGES

As Founder and Managing Partner of BRIDGES, I am responsible for the firm's strategy and personally lead its most complex client matters, including cases in which citizenship or residence decisions require a strategic view and consideration of capital.

Personal programme selection is conducted by Anna Kovalevskaya, Head of Legal, BRIDGES.

Material

How a programme is chosen: goals breakdown

Budget, family, timelines and relocation plans - which answers lead to which programme.

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Anna KovalevskayaHead of Legal, BRIDGES
Anna Kovalevskaya, Head of Legal, BRIDGES