Model Citizenship by Investment Programme Funds New International Airport in Transformed Dominica
LONDON, Aug. 16, 2019 /PRNewswire/ — The Commonwealth of Dominica continues to attract reputable global individuals to its world-leading Citizenship by Investment (CBI) Programme, thanks to which this Caribbean island has undergone a remarkable transformation. During his annual budget address, the Prime Minister of Dominica, Roosevelt Skerrit, revealed that one of the anticipated projects sponsored by the CBI Programme is the construction of an international airport. The Government has secured technical support from the World Bank with funding partly deriving from the island’s CBI Programme.
For over two decades, Dominica has been offering highly vetted investors and their families a means of acquiring its citizenship through an economic contribution. Successful applicants gain access to a wealth of benefits, including increased global mobility to approximately 140 destinations, enhanced business prospects, physical safety and financial security. Despite the lack of mandatory residence, economic citizens of the island have come to be recognised as part of Dominica’s Global Community, a concept that transcends land borders.
Dominica’s financial management has received glowing reviews from international institutions too, including the World Bank, the International Monetary Fund and the Caribbean Development Bank. During a radio interview, PM Skerrit said that “in the Caribbean, Dominica is a model.” Moreover, CBI has contributed greatly to the island’s ecotourism offering and the livelihood of its residents, which in turn opens new opportunities for its economic citizens. “With the advent of the establishment of a number of five-star hotels, international airport and cruise village, Dominica is at the cusp of a major transformation of its tourism industry,” mentioned Premier Skerrit.
Foreign investors interested in obtaining Dominica’s citizenship have two routes to choose from: contributing to the Economic Diversification Fund (EDF) or buying into selected real estate. The EDF is particularly popular with single applicants as it requires a convenient one-time contribution of US$100,000. Alternatively, the real estate option involves investing in shares of internationally branded resorts and luxury boutique hotels.
Dominica’s CBI Programme has been hailed as the world’s best offering for economic citizenship in the last two CBI Index reports. Experts at the Financial Times’ Professional Wealth Management magazine cite affordability, certified vetting standards and efficiency as key reasons for Dominica’s leadership in the investor immigration industry. Processing of eligible applicants takes four months or less, provided all due diligence checks and other requirements are successfully completed.