More Dominicans Will Benefit from Citizenship-by-Investment-Funded Housing Initiative – Wire Real Estate

More Dominicans Will Benefit from Citizenship-by-Investment-Funded Housing Initiative




Aug 20, 2020

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Aug 20, 2020 7:14 AM ET

iCrowd Newswire - Aug 20, 2020

– The government has assured furniture manufacturers in the Commonwealth of Dominica that they will benefit from its housing programme. Minister Roosevelt Skerrit and other high-ranking government officials revealed this after meeting with the manufacturers last week. This initiative will see around 250 homes added to Dominica’s housing stock over the next few weeks.

Since 2018, Dominica’s Housing Revolution has built over 1,000 homes, and there are 150 homes currently under construction. The Revolution aims to make thousands of affordable and weather-resistant homes for Dominicans using funds generated from the island’s Citizenship by Investment (CBI) Programme. Alongside building homes, the project is also constructing a new community centre, health centres and a hospital.

In the recent 2020-2021 budget address, Prime Minister Skerrit revealed that CBI would enable the addition of 450 more homes to the initiative. The leader stated: “Commitment to housing the nation is unparalleled anywhere in the world, we have continued to transform and improve the housing conditions of thousands of our citizens. The people of Dynamic Dominica will be properly housed, and our national housing and property stock will be amongst the highest quality and most hurricane resilient in the Caribbean.”

Established in 1993, Dominica’s CBI Programme is the strongest within the economic immigration industry. The Programme enables foreign investors to acquire the island’s citizenship after investing in the country. There are currently two investment routes available: a one-time contribution to the government fund or buying into selected real estate options. National development projects in a variety of sectors are funded by the revenue generated from the government fund. At the same time, investors who choose the real estate route have an array of international brands to choose from including Hilton and Marriott.

Once passing all the necessary due diligence checks, successful applicants gain access to a range of benefits spanning from increased global mobility to the ability to pass Dominican citizenship down for generations to come. Dominica’s CBI Programme is recognised as the best in the world for offering second citizenship for three consecutive years by the annual CBI Index – a report conducted by the Financial Times’ Professional Wealth Management magazine.

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