Citizenship by Investment Funds Boost Dominica’s Local Economy

When one considers Citizenship by Investment (CBI), the main focus is usually on the benefits that a second passport will offer the investor. The prospect of having visa-free travel and the security of a second citizenship is a huge driving factor for many contemplating such an investment.

A second passport also offers investors and their families a safe haven, and the opportunity to immigrate to a country that could offer better financial security, health care options and quality of life. This added benefit of CBI proves invaluable and even lifesaving in light of the current pandemic we are faced with. But it’s important to consider how your investment will also benefit the country you eventually choose.

More and more countries across the globe realise the benefits of adopting CBI programmes, particularly in the Caribbean region where you can find a selection of islands, such as Dominica, offering CBI programmes. But where do these funds go?

Housing has attracted a strong focus with Dominica’s ‘housing revolution’ seeing over 5,000 hurricane-proof homes being built across the island for displaced families, utilising funds from the CBI Programme.

Other focus areas where these CBI funds are allocated include infrastructure development, sustainable growth initiatives, education, climate change, economic growth, the enhancement of medical facilities, tourism development and preservation of heritage.

Dominica also suffered widespread damage following a spate of hurricanes that tore through the region in recent years, devastating the local economy. However, its CBI Programme provided a much-needed lifeline, restoring infrastructure and bringing jobs and prosperity back to the island.

As the Nature Isle of the Caribbean, and one of the top 20 tourism destinations of the future, Dominica’s ecotourism industry is flourishing. CBI has offered investors the chance to own shares in unique, eco-friendly and sustainable resorts. Much hard work has been put into rebuilding the nation’s robust economy, particularly in the tourism sector.

Also Read: How CBI Funded Real Estate Development Supports Eco-Tourism in Dominica

Today, Dominica has one of the fastest-growing economies in the area. A major contributing factor is the country’s CBI Programme (rated the best CBI Programme for four years in a row) which allows well-vetted investors and their families contribute to a government fund or pre-approved real estate on the island in exchange for citizenship.

Importantly, whether investors choose real estate or a direct contribution to the government, they must submit to rigorous background checks. This is because Dominica takes the security and integrity of its Programme and partners very seriously. This also gives investors peace of mind that their citizenship status is for life and can be passed onto generations to come.

CBI funds have also provided the government with the fiscal space to implement a series of impressive initiatives, including a Poverty Alleviation Programme that provides low-income households with much-needed financial aid. Several infrastructural developments that support locally-sourced materials, servicing and employment are also partly funded by the CBI Programme.