LONDON, June 26, 2020
LONDON, June 26, 2020 /PRNewswire/ -- On Wednesday, the Government of the Commonwealth of Dominica announced new changes to the country's Citizenship by Investment (CBI) Programme. Families applying jointly for Dominican citizenship can now include more types of dependants. This regards adult children, siblings, parents, grandparents, and new spouses.
The new rules qualify children aged 16 to 30, parents and grandparents of the main applicant or their spouse for citizenship, so long as they demonstrate support. Unmarried and childless adult siblings, whether biological or adopted can also qualify as dependants under CBI. Should a main applicant marry or have children after obtaining Dominican citizenship, their new spouse or newborns can apply for citizenship. The same is valid for a main applicant's dependant, meaning family reunification via Dominican CBI is extensive and lasts for generations.
"Obtaining Dominican citizenship might be one of the most valuable investments one makes into their family's future and security," says Paul Singh, Director of London-headquartered government advisory CS Global Partners. Prime Minister Roosevelt Skerrit said in a press release that the new changes aim to "accelerate family reunification in a world where togetherness, and the right to all be able to live in a safe, stable, and welcoming environment is more important than ever."
Importantly, since due diligence is the cornerstone of Dominica's CBI Programme, dependants must first successfully pass all the security checks. Main applicants must undergo due diligence again if their new dependant, such as a new spouse, applies for citizenship over a year since the original submission.
Dominica remains the best country for citizenship by investment, according to the past three annual editions of the CBI Index, published by FT's PWM magazine. Established in 1993, Dominica's CBI Programme offers two stable routes to citizenship. One can either contribute at least US$100,000 to a government fund or invest a minimum of US$200,000 in pre-approved real estate. Foreign investors prefer Dominica for its three-month processing, affordability, trustworthiness, and lifetime benefits like good healthcare, education and visa-free travel.
CBI proceeds have transformed Dominica in recent years. The fund contributions sponsor virtually all aspects of life on the island, like overhauling its infrastructure or modernising healthcare. The real estate arm is building a promising ecotourism industry focused on less crowds, more privacy and eco-luxury experiences on the Nature Isle of the Caribbean.