Owing to the success of its Citizenship by Investment Programme, Prime Minister Roosevelt Skerrit proudly announced that the Commonwealth of Dominica has managed to raise $1.2 billion in just over three years.
According to data, there was an eight percent increase in revenue from the fiscal year of 2017-18 to 2018-19 and a 13.4 percent increase in 2019-20. The Prime Minister revealed that for the fiscal years 2017- 2020, 5,814 applications had been approved under the Programme. The total over three years resulted in over $1.2 billion in revenue.
Since its inception in 1993, Dominica’s CBI Programme has enjoyed much success and was recently ranked the best CBI Programme in the world for the fourth year running by the CBI Index, which is published by the Financial Times’ Professional Wealth Magazine.
Dominica has one of the fastest-growing economies in the Caribbean region, thanks to the country’s highly respected CBI Programme. The Programme allows well-vetted investors and their families to contribute to a government fund or pre-approved real estate on the island in exchange for citizenship and more notably, a second passport. Much of the Programmes’ outstanding reputation is owed to its strict due diligence process and the intense vetting of potential investors, which ensures that only reputable and credible applicants are accepted.
A second passport also offers investors and their families a haven, and the opportunity to immigrate to a country that could provide better financial security, health care options and quality of life. Investors in Dominica are afforded access to all immigration benefits, including freedom of travel – with visa-free entry to nearly 150 countries and territories, and the prospect of securing a safe future for themselves and generations to come.
The Programme is also known for its affordability, efficiency and commitment to integrity. The funds generated from the CBI Programme are used to support national growth in areas such as healthcare, education, infrastructure and climate change.
Recently, the government has focused on the construction of a state-of-the-art hospital, several health centres and the nation’s first international airport. The CBI Programme finances each project, which once completed, will contribute to national development.
The Housing Revolution
Furthermore, the CBI funded ‘Housing Revolution’ is another initiative that’s benefited thousands by providing affordable and sustainable homes to families displaced by Hurricane Maria in 2017.
With the devastation of Hurricane Erika in 2015, followed two years later by Hurricane Maria, many families in Dominica were left homeless or in shelters, proving a socio-economic disaster for the Caribbean Nation.
However, along with these disasters, came a renewed vigour to ‘house the nation’ culminating in the founding of Dominica’s aptly named Housing Revolution. The project aimed at providing 5,000 affordable yet modern homes for medium-income families around the island. The focus was on utilising sustainable methods to improve the quality of housing and build robust communities throughout the country.
Possibly the most profound aspect of this revolution is the fact that to date, over a thousand homes have been constructed, with all necessary funding generated from the island’s Citizenship by Investment Programme.BACK TO NEWS FEED