Dominica has raised $1.2bn in just three years from its citizenship by investment program from 2017 to 2020 according to the latest announcement by the Prime Minister Skerrit.
This is a staggering sum of money for a small caribbean island from citizenship for investment scheme.
According to data, there was an eight percent increase in revenue from the fiscal year of 2017-18 to 2018-19 and a 13.4 percent increase in 2019-20.
The Prime Minister revealed that for the fiscal years 2017- 2020, a total 5,814 applications had been approved under the Programme. The total over three years resulted in over $1.2 billion in revenue.
Each application averages $206,000 from donation and real estate proceeds.
The Commonwealth of Dominica’s remains the world’s most popular citizenship by investment scheme running since 1993, has gained much success for acquiring second passport. The strict due diligence process and the intense vetting of potential investors, ensures that only reputable and credible applicants are accepted.
At the moment there are two investment routes to become a dominican citizen in three months
Dominica citizenship provides full access to all immigration benefits, including freedom of travel – with visa-free entry to nearly 150 countries and territories, and the prospect of securing a safe future for themselves and generations to come. Due to Covid, Dominica move to make the CBI super attractive to investors making legislative amendments such as
- Slashing of costs for families under EDF donation
- Post citizenship addition for family members
- Siblings biologically adopted
As of 2020, Dominica still remains the cheapest CIP for one applicant.
The revenues generated from the CBI Programme are used to support national development in areas such as healthcare, education, infrastructure and climate change.
Since suffering catastrophic damage from Hurricanes Erika and Maria, Dominica has quickly emerged as fastest growing economies in the caribbean thanks to the proceeds of CBI program.
One Nov 3, 2020, the Commonwealth of Dominica celebrated its 42nd year of independence, commemorating when the nation declared its liberation from Britain on the same day in 1978.