Caribbean News

Capital Projects in Dominica Funded by Citizenship by Investment Continue Progressing Smoothly

LONDONSept. 15, 2021 /PRNewswire/ — Despite the latest COVID-19 wave in the Caribbean, Prime Minister Roosevelt Skerrit of the Commonwealth of Dominica has reiterated that capital projects continue to advance on the island. During a recent government programme, the Prime Minister revealed that housing, real estate and work on the country’s first international airport are making progress. This is a testimony to the government’s efficient management that enables the island to commit to its national development whilst keeping its citizens safe.

Currently, Dominica continues to construct weather-resistant and affordable homes for its population as part of its expansive ‘Housing Revolution’ initiative, which aims to build over 5,000 resilient homes for families. The island has also made headway on several real estate developments that will transform Dominica’s tourism product. In addition, the nation’s first international airport is closer to becoming a reality as preparations to clear the site begin.

Prime Minister Skerrit updated the nation and said, “We are advancing many critical projects in our country, whether it’s from housing, whether its economic intervention with the hotels under construction from the CBI (Citizenship by Investment).” Skerrit also highlighted that there would be a $127 million investment in infrastructure in areas like Castle Bruce, the Kalinago Territory and Atkinson.

Dominica’s CBI Programme has been a crucial tool to creating lasting change on the island. Established over two decades ago, the programme has helped boost foreign direct investment on the island, supporting Dominica’s economy and national development while providing an attractive programme for investors seeking second citizenship. Applicants can either invest in a government fund or buy into real estate developments from trusted hotelier brands like Marriott, Hilton, or Kempinski. However, there are also unique boutique resorts to choose from including Jungle Bay, Secret Bay or the upcoming Sanctuary Rainforest resort.

Once undergoing the country’s multi-tiered vetting process, which includes checks from both internal and external agencies, those that can prove a clean source of funds can acquire citizenship as well as the benefits that come with it. This includes increased travel freedom to 75 percent of global destinations, the ability to live, work and study in Dominica, along with the ability to pass citizenship down for generations to come. Most importantly, you gain a lifelong home in a stable democracy with a currency pegged to the US dollar and ties to financial hubs like the United Kingdom.

SOURCE CS Global Partners

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