The Commonwealth of Dominica Provides Families with More Homes Funded by Citizenship by Investment Programme – Wire Real Estate

The Commonwealth of Dominica Provides Families with More Homes Funded by Citizenship by Investment Programme

Sep 25, 2020

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Sep 25, 2020 10:08 AM ET

iCrowd Newswire - Sep 25, 2020

More families in the Commonwealth of Dominica will receive keys to their new homes as part of the nation’s ‘Housing Revolution’ initiative. According to Prime Minister Roosevelt Skerrit, a handing over ceremony will take place this Wednesday for thirty families in the village of Grand Bay. Separately, another thirty families will also receive keys to new homes in the neighbourhood of Jimmit this Friday.

The ‘Housing Revolution’ project is fully financed by Dominica’s Citizenship by Investment (CBI) Programme and aims to build thousands of hurricane-resistant and affordable homes for middle-income households. All housing units are built to the highest standards and can withstand natural disasters. The initiative aligns with the island’s commitment to become the world’s first climate-resilient nation, as pledged by Prime Minister Skerrit following Hurricane Maria in 2017.

Parliament Secretary in the Ministry of Housing, Mr. Reginald Severin offered more details on the Grand Bay housing units: “We see a situation where the individuals that now are benefitting from this housing come from our vulnerable groups. In Grand Bay we are assisting a hundred and thirty eight individuals; thirty homes, thirty families; and out of that 30 families, 138 individuals, we have counted that eighty children, that it is individuals under the age of 16, will be benefitting. So we are definitely addressing one vulnerable group in the Grand Bay area.” Severin also noted that around 107 individuals would benefit from the Jimmit unit, 43 of which are children. 

Over a thousand homes have been constructed under the ‘Housing Revolution’ project, accredited to funds generated by the island’s CBI Programme. The Programme enables wealthy investors and their families to obtain Dominican citizenship once donating to the Economic Diversification Fund or buying into selected pre-approved real estate options. Once undergoing diligent vetting procedures, investors gain access to a range of benefits including visa-free or visa-on-arrival travel to approximately 140 destinations and the opportunity to pass citizenship down for generations to come. Investments generated under the Programme are then used to fund significant national development projects from education to tourism.

Dominica’s CBI Programme has been ranked the world’s best second citizenship offering for the last four years by the annual CBI Index report – conducted by specialists at the Financial Times’ Professional Wealth Management magazine.

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