Dominica Processes Citizenship by Investment Applications in Three Months
PUBLISHED ONApril 17, 2020 7:00 AM
LONDON, April 17, 2020 /PRNewswire/ -- The Commonwealth of Dominica is the best country for Citizenship by Investment (CBI), according to an independent report published by FT Specialist. Reputable investors continue to trust it, while governments considering implementing a CBI Programme look up to Dominica as a benchmark.
Earlier this month, His Excellency Ambassador Nanthan, the Head of the Dominican Citizenship by Investment Unit explained why CBI is a success story for the small Caribbean country. His Excellency credits the tangible impact on the island and the Programme's reputation for integrity and efficiency.
Applicants feel confident in the safety and stability the Dominican citizenship offers. This is due to the high due diligence standards, accountability and transparency in managing the Programme to pre-empt any reputational or security risks. Nonetheless, the process is smooth and timely without compromising on quality.
"We approve an individual applicant within three months," says Ambassador Nanthan. "Dominica is well known for its ability to have a rapid process for our applicants," His Excellency adds. Referring to the countless CBI-sponsored projects across the island, especially through the fund route, Ambassador Nanthan says that "people look at our programme as a benchmark because of what we do."
Single applicants generally prefer to obtain second citizenship from Dominica by making a one-off contribution to the Economic Diversification Fund (EDF). Qualifying investments start at US$100,000 however families can apply jointly. EDF funds are then invested in the country's infrastructure, healthcare, education, etc. IMF, ECLAC and ECCB praised Dominica's usage of CBI funds for making a difference in completely transforming the island over the past two years. Economic citizens can appreciate how their contributions changed the lives of their new fellow nationals. Meanwhile, the investors themselves and their descendants can benefit from these improvements for life.
Alternatively, the real estate route may be more suitable for entrepreneurs interested in diversifying their portfolio. There are several CBI-approved hotels and resorts, selected on the basis of their high likelihood of both timely completion and success. This reassures CBI applicants that their investment is safe, as development progress is closely monitored by the government. Three luxury CBI resorts have opened within a year, two of which – Jungle Bay and Secret Bay – have not sold out of CBI shares just yet. Another three CBI-approved resorts – Anichi (Marriott), Tranquility Beach (Hilton) and Sanctuary – will open soon.