The last few months have seen a rise in restrictive travel and immigration policies, coupled with a distinct shift to the right in US border policy. But while the US is putting up walls (literally), the island paradise of Dominica is welcoming foreigners with open arms.
A hand is being extended through Dominica’s Citizenship by Investment Programme, which allows foreigners to apply for citizenship in exchange for making a contribution to the island’s growing economy. New citizens of Dominica are invited to enjoy the tranquil lifestyle and lush, natural beauty of the ‘Nature Island of the Caribbean.’
In an increasingly globalised world, second citizenship offers a tremendous opportunity for wealthy and international individuals and families, business owners, and investors. Dominican Citizenship by Investment (CBI) offers mobility, estate planning opportunities, and diversification of both business and personal assets.
Citizenship by Investment Programmes are Popular Around the World
CBI programmes, a branch of investment immigration, are government provisions for granting citizenship in return for a contribution to that country’s economy.
Dominica’s CBI Programme is ranked among the top-tier programmes globally. Others with a comparable reputation and transparency include those in St Kitts and Nevis, Malta, and Grenada.
These are all government-sponsored and supported programmes that offer economic citizenship options to investors and wealthy individuals. Asia’s elite, as well as those from the Middle East, are coming to surpass those from Western economies as the biggest drivers of citizenship by investment schemes. The number of programmes are only expected to increase over the next few years.
Become a Dominican Citizen with a Range of Investment Options
Means of obtaining Dominican economic citizenship comprise either a donation to the country’s Economic Diversification Fund (EDF), or making a purchase of approved real-estate.
Investors can obtain Dominican citizenship by making a contribution of US$100,000 for a single applicant, or US$200,000 for an applicant and their spouse with up to two minor children to Dominica’s EDF. It’s among the least expensive of all Caribbean citizenship by investment programmes.
The EDF supports public sector projects including the building of schools, renovation of hospitals and medical care facilities, and ongoing development of island infrastructure. Other initiatives supported by the EDF include the development of the tourism, information technology, agriculture, and energy sectors.
Approved real estate options include the likes of the heritage Bois Cotlette Estate, dating from the earliest years of French settlement in the 1720s, making it one of the oldest surviving estates in Dominica, and Tranquility Beach, part of the Curio Collection by Hilton. Requiring a minimum investment of just US$200,000, it’s a desirable and affordable asset. Government fees apply to the real estate option, starting at US$50,000 for a single applicant and US$75,000 for a family of four.
Dominica’s Citizenship by Investment Programme Supports the Local Economy
Dr the Honourable Roosevelt Skerrit, Prime Minister of Dominica, was recently reported to welcome property developers and promoters to use the country’s Citizenship by Investment Programme in order to support economic development in the island.
According to CS Global Partners, the Dominica CBI Programme is a means of transforming economies to become ever more prosperous and independent. Across Dominica, revenue realised through the Programme for the financial year 2015/2016 exceeded all expectations. The hope is that investors can continue to support local economic growth with sustainable and worthwhile projects that create jobs.
Dominica’s forward-looking approach to a globalised future has set the island to be one of today’s most attractive destinations for wealthy and high net worth individuals seeking second citizenship to support global mobility, business, and investment.