Dominica: There are many programmes nowadays which permit investors to have citizenship for a financial contribution towards the development of the country. This programme is very famous nowadays.
It’s been 10 years, and these economic citizenship are considered by the investor(s) trying to find a way to plan their wealth and diversify their portfolio. These programmes offer many benefits that many investors cannot find anywhere else.
There are many countries on the globe which offer these kinds of programmes, but from many countries, there are only Caribbean countries, Like Dominica, St Kitts and Nevis and Saint Lucia, which have been emerging as the world’s best Citizenship by Investment Programme, as these nations offer countless profitable benefits to the investors/ applicants.
The CBI Programme of these three countries carries a lot of benefits, including favourable opportunities to plan and spread one’s wealth, extending citizenship to the family, a wide range of investment programmes, a high standard of living and enjoying the general benefits that come with living in modern, diverse countries.
These countries have been top ranked in the CBI Index, published by Professional Wealth Management (PWM) Magazine of Financial Times, for providing all these benefits to the investors.
CBI Index (Citizenship by Investment) is a comprehensive ranking system that evaluates active citizenship by Investment (CBI) programmes globally. The programmes are thoroughly assessed and then gain ranking as per their efficiency.
This report is evaluated based on nine pillars that are considered the highest priorities for investors seeking to apply for economic citizenship. The nine pillars are: Freedom of Movement, Standard of Living, Minimum Investment Outlay, Mandatory Travel or Residence, Citizenship Timeline, Ease of Processing, Due Diligence, Family, and Certainty of Product.
The PWM Magazine releases the Index in the month of August every year, and Dominica has secured the top rank for the past five consecutive years.
This year, there are beliefs that Dominica will once again top the ranking as the country has been doing enough development for the locals and offers numerous opportunities to the investors to expand their businesses.
Some reasons why Dominica can secure the top position are:
• Low cost and affordable CBI for investors and their families
• New Biometric passport strengthening security standards
• Excellent property market attractive to invest in hotels
• Wise use of CBI funds in sustainable development
• Due diligence checks
In last year’s annual report, Dominica shared the first position with St Kitts and Nevis, and it was the first time that St Kitts and Nevis secured the top spot. Both countries together bagged the first position for their due-diligence procedure, under which the CBI Unit and an international independent third party firm perform background checks and ensure that the alternative citizenship is granted to an honest and credible investor.
Dominica and St Kitts, and Nevis have been offering alternative citizenship for the past 20 years and have adopted new changes to meet the challenges.
Citizenship by Investment Programme:
Dominica: Since 1993, Dominica has been offering alternative citizenship to investors and is known as the world longest running, safest and most secure. The Caribbean country has been providing citizenship in exchange for significant financial Investment toward developing and uplifting the country’s infrastructure.
The programme has been contributing to helping Dominica to expand the economy and to meet the international market competition.
There are two ways through which anybody can apply for alternative citizenship – Economic Diversification Fund (EDF) and Real Estate Investment Option.
Under the Economic Diversification Fund, popular as EDF, the investor(s) invest in the country’s social-economic development.
This fund option has contributed to the construction of bridges, houses, roads, schools and healthcare centres and hospitals.
The Investment which comes under EDF starts from USD 100,000. If an investor is planning to invest in a government-approved Real Estate Investment Option, they have to invest in government-approved real estate property. The Investment starts from USD 200,000.
St Kitts and Nevis: The CBI Programme of St Kitts and Nevis started in 1984. This is the oldest and most reputed CBI programme.
The CBI Programme is globally famous because they always prefer to give citizenship to reputable individuals and their families through a robust and efficient due diligence process. St Kitts and Nevis Citizenship by Investment programme are committed to delivering value and opportunities to investors and citizens alike in a responsible way, contributing to the social and economic success of the Federation.
An applicant may apply for alternative citizenship through the Sustainable Growth Fund, which is popularly known as Fund Option. Launched in 2018, SGF has been known as the most affordable, direct route to apply for alternative citizenship. The funds generated are used to support areas like infrastructure advancement, tourism development, social assistance and local entrepreneurship. The minimum Investment starts from USD 150,000.
