Dominica becoming the first choice of Citizenship by Investment applicants: The Economist

Many Businessmen and their families around the world are seeking solutions for a Plan B, as mostly their citizenship limits their work and family.

A recent article from The Economist has shown the cases of several African nationals who have chosen Caribbean citizenship over other citizenships because of their smoother processing and experience.

One of these nationals, in particular, said that obtaining the economic citizenship of the Commonwealth of Dominica was a "life-changer" for him.

Dominica claims to have the world's best citizenship by Investment (CBI) Programme, which was established in the year 1993.

The claim of having the best citizenship by investment program is based on the past three consecutive issues of the CBI Index, which are released by PWM annually.

Dominica excels at integrity, transformative impact on the native population and transparency.

The Economist wrote that one way of reducing the demand for the second passport would be to make it easier for Africans to work and visit in rich countries.

The article by the EconomistEconomist concluded by saying that until it is not made easy for the Africans to visit and work in the rich countries, their best option may be to copy a Nigerian businessman who recently got a passport from Dominica and declared that it is a life-changer.

Obtaining a passport is a separate process of the CBI Programme.

The actual value of the citizenship of Dominica is higher than global mobility.

Dominica other than being a member of the Commonwealth is a modern democracy and a peaceful country with a resilience-focused economy and strong state institutions.

FDI Intelligence of the FT said that Dominica is among the top 20 destinations of the upcoming future.

As the Nature Isle of the Caribbean, the ecotourism industry of Dominica is thriving, and the Citizenship By Investment program offers a chance of owning shares in several of these hotels.

Interested applicants may pick one of the select luxury resorts and then make a qualifying investment of US$200,000 at least.

These hotels include already successful boutique hotels such as Secret Bay and Jungle Bay; or upcoming world-branded resorts such as the Hilton's Tranquility Beach or Marriott's Anichi.

The newest project which has been approved for the Citizenship By Investment is the Sanctuary Rainforest Eco Resort and Spa.

Also, the applicants can make a one-off contribution to the Economic Diversification Fund of at least US$100,000.

Although it asks for one of the most affordable qualifying investments and Dominica's CBI has no language, visit or residency requirements, it balances these with strict diligence procedures.

This way, the security integrity of the country and that of its external partners remain safe and intact.