Over 400 Acres Acquired for Dominica’s First International Airport, Funded by Citizenship by Investment
LONDON, Oct. 21, 2020 /PRNewswire/ — During a weekly government programme, Prime Minister Roosevelt Skerrit shared updates on the Commonwealth of Dominica’s anticipated international airport. According to the PM, around 411 acres has now been acquired with rapid progress being made. This includes making several payments to landowners, finalising designs and technical studies.
The Government of Dominica has been earmarking $5 million every month from its popular Citizenship by Investment (CBI) Programme for the last few years to fund the project. Once completed, the international airport will be Dominica’s first and will improve air access in the country. This aligns with the recent news that Caribbean Airlines launched a new flight between Dominica and Barbados which will gradually increase to four times weekly. Dominica reopened its borders to international visitors on August 7th.
Prime Minister Skerrit also revealed that his administration is proposing the introduction of a national company to oversee the airport’s construction: “The International Airport Development Company will have a shelf life for the duration of the construction of the airport. It will have a board comprising of 16 members that would cover a wide section of the society so that we have broad-based participation and involvement in the process.”
Dominica’s CBI Programme has been pivotal to funding several development projects on the island from housing to education. The Programme, established in 1993, enables foreign investors and their families to secure the country’ citizenship once either donating to the government fund or buying into selected real estate options. Applicants must undergo a robust due diligence process that follows a multi-tiered approach to ensure the reputation of the Programme remains intact. Those who are successful then gain citizenship along with a wide range of benefits that include increased travel freedom to approximately 140 destinations and the chance to pass down citizenship for generations to come.
With over two decades of experience in the investment migration realm, Dominica’s CBI Programme has been ranked as the world’s best offering for second citizenship for the last four years by experts at the Financial Times’ PWM magazine. The 2020 CBI Index highlighted the Programme’s affordability, efficiency and due diligence practices as some of the reasons why Dominica continues to secure its #1 ranking.
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SOURCE CS Global Partners
