LONDON, May 6, 2020 /PRNewswire/ -- The Commonwealth of Dominica took centre stage in a new episode of the 'Plan B' podcast released on Wednesday by CS Global Partners. The discussion themed around the benefits of Citizenship by Investment (CBI) programmes to the nations offering them, where Dominica prevailed in terms of the magnitude of the impact CBI has on its economy.
Known as the 'Nature Isle of the Caribbean', Dominica also stands out for its unique model of offering citizenship by investment. It focuses on driving high-quality foreign investment and rewarding individuals and their families with the status of economic citizens. This is possible through its Citizenship by Investment Programme, established in 1993 and currently ranked as the best in the world. Dominica excels at transparency, good management of CBI funds and economic progress that the Programme facilitates – a 'lifeline', as Prime Minister Roosevelt Skerrit often says.
"CBI money is being used to build hurricane-proof housing for thousands of Dominican families," says Zahra Khozema, a Communications and PR Officer at CS Global Partners in London. "The island is also improving its infrastructure, including roads, bridges, hospitals and health centres […] CBI is also supporting business initiatives, education, [and] resorts and hotels to attract tourists and bring life back into the tourism sector."
Those who wish to obtain second citizenship from Dominica have two options to choose from – either contribute to a government fund or invest in pre-approved real estate. The first CBI channel, called the Economic Diversification Fund (EDF), is more straightforward and starts at US$100,000. It allows the government to confirm receipt of the qualifying investment faster, which expedites the application process. Meanwhile, the country benefits most from EDF contributions, which the government redirects to other areas deemed necessary to improve the quality of life on the island.
For those with a more entrepreneurial spirit, investing in a select list of luxury resorts and hotels may be more suitable. This ranges from established boutique resorts like Jungle Bay or eco-luxury villas at The Residences at Secret Bay, to upcoming nature-immersed resorts like Sanctuary Rainforest, or internationally-branded 5-star hotels such as Tranquility Beach from Hilton's Curio Collection and Anichi Resort and Spa from Marriot's Autograph Collection. Investments for citizenship start at US$200,000, which pays off in attractive ROI and a head start in Dominica's promising ecotourism sector. fDI Intelligence, a service from the Financial Times, predicted in 2019 that Dominica is one of the top 20 tourism destinations of the future.
There are two distinctive features Dominica prides on. Firstly, it is very selective about whom it allows to obtain citizenship. Although investors from almost any country can apply, they must pass due diligence checks first to demonstrate that they are of good moral character. Secondly, the purpose of the CBI Programme is to primarily benefit the native population, while welcoming new economic citizens to its 'global community' where they can live, work and study among a kind nation with a promising future.
SOURCE CS Global Partners