Dominica’s Citizenship by Investment Programme has helped many secure their futures and get ahead in business. Due to high demand since the pandemic hit, the Government reported a 15 percent increase in citizenship issuance from 2019 to 2020 compared to that of the previous fiscal year.
Citizenship firms have also noted markets like Russia see an increase in application for second citizenship in Dominica. In a webinar with Forbes Russia, Micha Emmett, CS Global Partners’ CEO, said that the firm has seen a “striking increase” in Russian nationals seeking alternative residence and citizenship in the last decade.
Titled “The Road to Prosperity: Securing Your Future with a Second Citizenship in Dominica,” Prime Minister Roosevelt Skerrit and Ambassador Emmanuel Nanthan, the Head of Dominica’s Citizenship by Investment Unit, also participated in the webinar. The three discussed the benefits of second citizenship for Russians, the allocations of foreign contributions, and the island’s success in handling the Covid-19 crisis.
The benefits of second citizenship for Russians
One solution for high-net-worth Russians and others from developing nations who wish to protect their wealth is applying for citizenship in the Caribbean island of Dominica. Besides having a beautiful and peaceful place to call home in social and political challenges, second citizenship provides investors and their families with travel visa-free to over 140 countries around the world. This also increases business prospects for those bound by borders in financial hubs like the United Kingdom, China, Schengen countries, Hong Kong and Singapore. Dominica also has visa-free access to Russia, meaning both country’s citizens can travel with no hassle.
Additionally, the country has a 98 percent literacy rate, low crime, and a growing eco-and-medical tourism industry. “We have universal access to health care in our country. And also, we are a very progressive nation, small but very progressive, very ambitious,” said Prime Minister Skerrit in the webinar.
“We have many of your Russian nationals residing in Dominica, actually. We have a very close bond of friendship with Russia, extended many, many years. And we have welcomed many Russian nationals who are now citizens of our country,” he added.
ALSO READ: Benefits of Dominica’s Citizenship
Where do investments go?
Citizenship by investment programme funds public and private sector projects in the country to increase national development. The fund’s public sector projects include the renovation and establishment of hospitals, building new schools, and repairing infrastructures like roads and bridges. The fund’s private sector projects primarily focus on advancing the nation’s information technology, eco-tourism, and agricultural sectors.
“One can imagine and appreciate the job creation of these major capital investment programmes in ensuring that we give people hope that tomorrow will be greater than today,” the Prime Minister explained.
Dominica’s success in handling crisis
Dominica is one of the nations least impacted by the coronavirus, recording zero deaths since the outbreak. Despite the pandemic, the administration has ensured that national development projects continue to progress while also guaranteeing the financial protection of its citizens with $12.7 million invested in COVID-19 relief efforts.
The Prime Minister said that Dominica “had only single digits COVID active cases in Dominica… We work out of the office. Our schools are open, and because of the freedom of movement, it’s easy for us. We operate almost as usual.”
Dominica’s commitment to healthcare on the island has been prioritised in recent years to benefit its citizens better. This includes building 12 new health centres and a modern, state-of-the-art hospital with a higher quality of services, sponsored directly by the island’s CBI Programme.
About Dominica’s Citizenship by Investment Programme
The Dominica Citizenship by Investment Programme was established in 1993 and is one of the longest-running and most reliable citizenship by investment programmes in the world. Vetted investors who contribute to the government fund or purchase pre-approved real estate in the country receive citizenship for life.
Dominica stands out among other Caribbean islands with its unique nature, austere volcanic peaks, forests full of exotic plants and animals, picturesque waterfalls, fresh-water lakes and unusual beaches. The islands attract thousands of eco-tourists each year.
ALSO READ: The Application ProcessBACK TO NEWS FEED