Why Dominica's Citizenship by Investment Is a Benchmark for Countries Considering Investor Immigration Programmes
LONDON, April 22, 2020 /PRNewswire/ -- Overcoming Hurricane Maria's widespread devastation in 2017, the Commonwealth of Dominica set an example of crisis management, resilience and efficient response through its Citizenship by Investment (CBI) Programme. His Excellency Ambassador Emmanuel Nanthan, the Head of the Dominican Citizenship by Investment Unit (CBIU) took part in a webinar hosted earlier this month by government advisory CS Global Partners, where he explained how the Caribbean island succeeded against all odds.
Dominica is known as a success story of the investor immigration industry, particularly in recent years. Ambassador Nanthan believes that transparency, exemplary due diligence, efficient processes and direct benefit to citizens are the backbone of Dominica's successful CBI Programme.
"It takes relentless commitment to due diligence, process management skills and a clear understanding of applicants to create a programme as successful as the Dominica Citizenship by Investment Programme," says Ambassador Nanthan. He believes that Dominica strives to remain the best it can be "only by inviting the best, the financially cleanest, the most reputable people."
For three consecutive years, Dominica has maintained its number one spot as the world's best offering for Citizenship by Investment, according to the prestigious CBI Index, published by FT's PWM magazine. To promote transparency, the CBIU invited PricewaterhouseCoopers to scrutinise Dominica's records and review the use of funds from the CBI Programme. This resulted in a detailed account of all the projects the CBI Programme helped sponsor or funded entirely.
"Dominicans on the whole see what the Programme is doing, they see the infrastructure, they see the schools that have been built, they see the houses that have been built," comments Ambassador Nanthan. In December, Prime Minister Roosevelt Skerrit reconfirmed his commitment to building 5,000 homes within five years' time as part of the Housing Revolution. The far-reaching project is one of the many CBI-funded initiatives and, to date, has provided over a thousand families with free, modern, hurricane-proof housing.
Those wishing to obtain Dominican citizenship can either make a minimum contribution of US$100,000 to the Economic Diversification Fund or invest at least US$200,000 into pre-approved real estate. All must first pass the due diligence checks. Processing takes three months on average, Ambassador Nanthan confirms, and applications can now be submitted online through an authorised agent.
Click here to watch and read more about the topics discussed during the webinar.
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