New Citizenship by Investment Hotel is Coming to Dominica
Sep 26, 2019, 00:00 ET
LONDON, Sept. 26, 2019 /PRNewswire/ -- Investors seeking second citizenship from the Commonwealth of Dominica will soon have another option available under the island's world-leading Citizenship by Investment (CBI) Programme. In his latest budget address presentation, Prime Minister Roosevelt Skerrit revealed that another hotel will be making its way to Dominica, alongside the six luxury CBI hotels that are either already open, ready for launch or under progressing construction.
The new resort, whose name and associated hospitality brand have not been announced yet, is reported to boast 130 rooms, conference facilities, bars and restaurants. PM Skerrit shared that the project will be located on the Public Works site along the west-coast Leblanc Highway. It would complement the cruise village and new port while diversifying hotel locations so that different communities in Dominica can directly benefit from it.
The anticipated hotel will operate under Dominica's CBI Programme, according to PM Skerrit. "We're still in negotiations with the developers and the final project documents […] but certainly there is a local developer and that will be facilitated under the CBI as well," he explained.
Introduced in 1993, Dominica's CBI Programme has now become the world leader within the economic citizenship industry, according to FT's CBI Index. The initiative enables select global individuals and their families to acquire second citizenship either by making a one-time contribution into a government fund or buying into pre-approved real estate. Applicants interested in the former must make a non-refundable investment of at least US$100,000 into the Economic Diversification Fund. The real estate route to Dominican citizenship renders a variety of internationally branded properties to choose from, including Marriott, Hilton and Kempinski. Along with gaining Dominican citizenship, successful applicants will also benefit from increased global mobility, diverse business opportunities and the right of future generations to inherit their citizenship.
Revenue generated from the CBI Programme contributes to Dominica's national development in key areas like ecotourism, healthcare, education and climate resilience. For the last three years, Dominica has been recognised as offering the best CBI programme in the world and was also called "an industry leader in its transparent and effective use of citizenship by investment donations," according to the 2019 CBI Index. Experts from Professional Wealth Management note its affordability, efficiency and exemplary due diligence as some of the reasons reputable foreign investors confidently opt for Dominican citizenship.
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SOURCE CS Global Partners
