Dominica’s CBI Programme Benefits Global Community

Prime Minister of Dominica, Dr Roosevelt Skerrit, and His Excellency Ambassador Nanthan, Head of Dominica’s Citizenship by Investment Unit, participated in the latest webinar of Arton Capital’s ‘Global Citizen Series’.

The webinar touched upon key areas of interest such as Dominica’s response to Covid-19, the role citizenship by investment has had to play, as well as Dominica’s intent to increase its ‘passport power’ post-COVID-19.

Asked about Dominica’s efforts to control the virus, Prime Minister Skerrit attributed Dominica’s success to the Government’s meticulous preparation. Dominica quickly ensured that it had adequate Covid-19 testing capacity and introduced a contact tracing system. As part of its response, Dominica also increased agriculture cultivation to ensure food security both nationally and to regional Caribbean partners. Dominica is now proudly COVID-19-free and all infected patients have made a full recovery.

Speaking about the impact of the decline in tourism due to Covid-19, Prime Minister Skerrit commented that Dominica’s diversified economy allowed the country to withstand such an external shock. Looking to the future, however, Prime Minister Skerrit stated his hope that an announcement will soon be made regarding the re-opening of the country’s borders.

Prime Minister Skerrit also underlined the importance of Dominica’s Citizenship by Investment Programme during crises such as the current pandemic. Cognisant of the need to continue processing applications despite Covid-19, Dominica’s online case management system ensured that Citizenship by Investment Unit staff were able to operate remotely while the Unit’s doors were temporarily closed. Such a response is a testament to Ambassador Nanthan’s excellent management.

Unwavering commitment to efficient application processing is one of the main factors in Dominica’s success in the citizenship by investment industry. Applicants frequently receive approvals in just three months from the moment of application submission – an incredible asset to the Dominica Citizenship by Investment Programme. Efficiency, ease of processing and, of course, affordability are only some of the reasons Dominica’s Citizenship by Investment Programme has been ranked as the best of its kind by the Financial Times’ CBI Index for three consecutive years, the industry’s only comparison index published by an independent body.

“Every single sector and every single citizen in Dominica benefits from the Programme,” stated Prime Minister Skerrit. Famously, funds from the Programme are being used exclusively to finance Dominica’s Housing Revolution. As part of the Housing Revolution, Prime Minister Skerrit pledged to build 5,000 hurricane-resistant homes to re-house families displaced by Hurricane Maria in 2017. Now, thanks to citizenship by investment, “just last week,” said Prime Minister Skerrit, “254 keys were handed over to beneficiaries who will no longer be vulnerable in the hurricane season.”

As transparent about the use of citizenship by investment funds as ever, Prime Minister Skerrit divulged that the Programme has been instrumental in the construction of public infrastructure, including roads and bridges, as well as in the construction of hospitals and health clinics. Thanks to investments into healthcare, Prime Minister Skerrit is confident that Dominica’s robust, well-resourced health system will encourage investors to settle in Dominica in a post-Covid-19 world.

In addition to the benefits of citizenship by investment has for native Dominicans, Prime Minister Skerrit commented that the Programme has the potential to make a wider contribution to humanity. In return for the making of a significant investment in Dominica, investors are granted the freedom of greater mobility. “For many investors,” Prime Minister Skerrit said, “because of their circumstances, their freedoms are limited.” With citizenship of Dominica, however, such investors may travel to 140 countries without the need to apply for a visa.

In 2020, in spite of Covid-19, Dominica continues to foster strong international relations and according to Prime Minister Skerrit, “citizens will see a number of additional visa-free agreements in the coming months.” Additionally, Dominica continues to expand the number of consulates it has stationed across the globe to increase the country’s diplomatic presence. In January, Dominica became the first citizenship by investment country to open a consulate in Abu Dhabi, and as such citizens can expect to benefit from visa-free relations to the UAE very soon.

Yesterday’s webinar highlighted the important role citizenship by investment has played in Dominica, both pre-Covid19 and as part of the country’s response. Thanks to Prime Minister Skerrit and Ambassador Nanthan, the participants now understand the benefits that Dominican citizenship bestows.