Dominica is using CBI funds to pay off debts: PM Roosevelt Skerrit

Roseau, Dominica: The Prime Minister of the Commonwealth of Dominica, Dr. Roosevelt Skerrit, stated that the government utilizes the Citizenship by Investment Programme's funds to pay off debts. He made these remarks during his weekly Anou Pale show, where he was talking to two journalists of Dominica. Prime Minister stated that the country is using its CBI funds to pay off debts, to meet current expenditure, and to sustain the ongoing projects in the public sector. Citizenship by Investment Programme of the country helps it in bringing foreign direct investment that strengthens the economy. Dominica's CBI Programme is also ranked the world number one such programme by the Citizenship by Investment Index of Financial Times' PWM magazine.Citizenship by Investment Programme of Dominica assists the country in uplifting its infrastructure. It is also helping the country to become a resilient nation. The housing initiative that aims to construct 5,000 climate-resilient homes is also funded by the Citizenship by Investment Programme. The country holds this ranking for four consecutive years. The Citizenship by Investment Programme allows foreigners to obtain citizenship after a certain amount of investment into government-owned funds. Investment for Economic Diversification Fund starts from USD 100,000, while the Real Estate investment starts from USD 200,000.  Citizenship by Investment holders are required to go through very stringent due-diligence checks to ensure that the person is not involved in any illicit activity. Prime Minister Dr. Roosevelt Skerrit states that these due-diligence security checks maintain CBI standards and protect the country from any individuals holding criminal backgrounds. The citizens under the CBI get the same rights as those born in the country, including the right to work or live in the country. Besides this, they also get the ability to pass on their citizenship to their future generations. It also grants visa-free access to more than 140 countries.