LONDON, January 26, 2019
LONDON, January 26, 2019 /PRNewswire/ --
Last year, Dominica's economy grew by an estimated 6.9%. Applicants to Dominica's Citizenship by Investment (CBI) Programme were also direct beneficiaries, able to access this expanding market and attain a more secure future for themselves and their families. 2019 looks to be even more worthwhile for second citizens. GDP is predicted to increase by 9% whilst the Government has already enacted two strategic investments of benefit to CBI applicants.
Founded in 1993, Dominica's CBI Programme is one of the oldest in the world. With almost three decades' experience, the Programme has gained international acclaim, particularly for its efficient processing and thorough due diligence procedures. In return for either an investment into either the Economic Diversification Fund (EDF) or the purchase of real estate, applicants receive Dominican citizenship plus immigration benefits. Amongst these are increased personal safety, a second home, and access to a better quality of life. The Programme also protects successful applicants and follows a simple process.
An applicant's reputation is integral to their personal and business life. As such, it is important to choose a programme based on integrity and with a strong due diligence programme which will safeguard their reputation. Dominica's expertise and respect for international values have gained it a high status in the CBI industry. For example, the global CBI Index, published through the Financial Times, declares Dominica "one of the world's most […] transparent options for economic citizenship." This is in large part due to its esteemed multi-level, multi-jurisdictional due diligence. Employing experts trained in anti-money laundering (AML) and the services of international bodies such as Interpol, Dominica's due diligence is second to none. Indeed, since the launch of the CBI Index, the Programme has consistently been awarded 10/10 for Due Diligence.
Simplicity is another advantage of Dominica. Under the EDF, a single, one-time investment is required. This enables the applicant to move forward with no future financial or physical obligations and the Government to easily ascertain if the investment has been made. The process is straightforward for both sides. For the real estate, the Government provides a list of pre-approved properties from which the applicant can choose one best suited to their needs. This simplifies the process whilst offering the investor flexibility.
The Government's recent strategic investments in its public economic infrastructure and tourism sector will also benefit CBI applicants. Two weeks ago, Dominica took a historical step when a new technology company was contracted to spearhead innovation under the Government's digital services. The agreement ends a 50-year monopoly, suggesting the Government's willingness to break tradition for the benefit of growth. For CBI applicants this means faster and easier processing. Similarly, the recent hire of an international strategist to develop the country's tourism sector not only means enhanced leisure and travel for second citizens visiting the island, but will drive national growth. Tourism expansion will bring employment opportunities for residents and support the nation's sustainable development strategy.
As Dominica's economy continues to grow, greater business and personal security is available to second citizens. In this ever-changing and uncertain world, such ability to gain better freedom and security can only be more important.