Citizenship by Investment serves the nation through socio-economic advancement
The Dominican government is promoting abroad studies to empower the nation. The comment made in an interview for Dominica’s Broadcasting Service (DBS), where Prime Minister Roosevelt Skerrit revealed how Dominica’s Citizenship by Investment (CBI) Program has supported Dominican children for abroad education. According to the PM proudly announced that CBI has contributed around $26 million in the education sector for students studying overseas in countries like Canada, the United Kingdom, and the United States.
Prime Minister Skerrit later emphasized how CBI had helped the island to recover from the devastation that occurred by Hurricane Maria in 2017. The collected fund was used for rebuilding thousands of homes, as well as for building 5,000 new climate-resistant homes under the ‘Housing Revolution’ initiative. The initiative for new home-constructions created jobs for thousands of needy people. CBI did not stop here as it also helped Dominica to establish and expand its eco-tourism sector and improving employment prospects with long-term effect.
CBI committed to withstand and fight extremes
Apart from distributing funds in abroad studies, the rest generated funds from the program are channeled into the socio-economic advancement of the island including job creation, healthcare, climate change, ecotourism, and infrastructural development.
During the interview, Skerrit expressed his sentiment for CBI as he commented that- “CBI has been a lifeline for Dominica.” He says the small Caribbean island’s remarkable recovery after Hurricane Maria in 2017 would not have been possible “had it not been for the Citizenship By Investment Program, which demonstrated its resilience…., within 90 days after the hurricane, we were back in business with respect to the CBI program,” stated the PM during a vine-cutting ceremony at the newly reopened, CBI-approved Jungle Bay resort.
Global recognition for serving socio-economic
Established in 1993, Dominica’s CBI Program has been enabling carefully vetted global individuals and their immediate relatives to acquire second citizenship. The benefits of citizenship are acquired through either a one-time non-refundable contribution to the government’s Economic Diversification Fund or buying into selected real estate, currently counting seven unique hotels. The government-legislated program is one of the oldest in existence and has been internationally recognized by experts at the Financial Times’ PWM magazine for its high efficiency, affordability, and due diligence standards. Honoring the efforts, a special independent report titled CBI Index, ranked Dominica as the world’s best offering for economic citizenship for the last two consecutive years.
