iCrowd Newswire – Sep 8, 2020
The 2020 CBI Index ranked the Citizenship by Investment (CBI) Programme from the Commonwealth of Dominica as the world’s best. Published by the Financial Times’ Professional Wealth Management magazine, the study measures 14 global citizenship programmes’ features and jurisdictional desirability.
The CBI Index awarded Dominica’s Programme the maximum marks in six pillars, including the new Family pillar for its broad family-friendly provisions. The country also scored full points for ease of processing, affordable minimum investment outlay, due diligence, certainty of product, and lack of mandatory travel or residence requirements.
“Dominica balances an excellent reputation for meeting the needs of investors with strong due diligence, a low minimum investment outlay, efficient processing, and a renewed focus on family reunification,” the report reads. “The Caribbean also spearheaded several adjustments to its family provisions — most notably in Dominica […] allow[ing] the inclusion of children aged over 18 years, with few restrictions, as well as extended family including parents, grandparents, siblings, and the family of the main applicant’s spouse.”
The study hails the Dominican Programme’s stability during Covid-19: “Dominica […] issued circulars announcing that they would move their processes online to reduce transmission of the disease. Dominica, whose unit had already accomplished a swift switch to remote processing in the aftermath of the 2017 hurricane season, drew on experience to adapt to the social distancing requirements of Covid-19 and continue to process at a rapid pace.”
“For us, foreign investors who become our citizens through CBI are truly valuable partners. We are proud to call them our own and to offer them a truly spectacular place to call home,” Prime Minister Roosevelt Skerrit commented.
Those who pass the due diligence checks can obtain Dominica’s citizenship by either making a minimum contribution of US$100,000 to the Economic Diversification Fund or investing at least US$200,000 in pre-approved real estate. The latter includes branded and boutique hotels and resorts establishing a burgeoning ecotourism sector in Dominica. With the help of foreign investors, this ‘Nature Isle of the Caribbean’ hopes to also become the world’s first climate-resilient nation. Successful CBI applicants can enjoy visa-free or visa-on-arrival travel to approximately 140 destinations, access to good healthcare and education, and secure their family’s future for generations to come.