LONDON, May 14, 2020 /PRNewswire/ — Today, the Commonwealth of Dominica stands as the best country to get Citizenship by Investment (CBI) from, according to an independent study published by a Financial Times magazine. Established in 1993, Dominica’s CBI Programme has won foreign investors’ trust over 27 years. It relies on its long experience, leading with timely application processing, strong due diligence, stability and an immaculate reputation.
Last month, Ambassador Emmanuel Nanthan, the Head of the Citizenship by Investment Unit (CBIU) in Dominica, took part in a webinar hosted by government-mandated firm CS Global Partners. Speaking to Asian agents, His Excellency addressed key aspects applicants enquire about. Importantly, clients and agents alike wondered if Dominica would change any of its investment requirements in light of the pandemic. While CBIU has temporarily enabled agents to submit applications online, Ambassador Nanthan says that Dominica does not intend to reduce investment fees.
“We just celebrated 27 years last month for our Programme. So, we have a Programme that is rich in history and we are experienced,” said Ambassador Nanthan. “The integrity of the Programme is paramount at all times, so our Programme is not price-flexible when you need more or when you need less […] The prices for us are fixed; we have not, in the past, reduced our prices in Dominica and I don’t think it is our intention to do so in the near future,” His Excellency explained.
There are two options to obtain second citizenship from Dominica: contribute to a government fund or invest in pre-approved real estate. The first option requires applicants to make a minimum contribution of US$100,000 to the Economic Diversification Fund. The second route asks CBI applicants to select a luxury hotel or resort listed on the CBIU website and invest at least US$200,000 in any of them.
Both CBI channels directly benefit the native population and economic citizens if they chose to relocate there. The fund route sponsors countless initiatives on the island, such as building 5,000 modern homes and upgrading the road network. Meanwhile, the real estate option is establishing an exciting ecotourism sector rooted in sustainability, privacy and nature immersion on the “Nature Isle of the Caribbean,” as Dominica is affectionately called.
Processing takes three months on average and the first step is to enlist an authorised agent.