November 30, 2021
While big countries talk about protecting their citizens against climate change, the Commonwealth of Dominica takes action. Dominica is a small island located 1,400 miles south of Miami in the eastern Caribbean belt and committed to giving its citizens a climate-resilient future. Its government is using funds from the Nature Isle’s prestigious Citizenship by Investment (CBI) Programme to fund 14 disaster-proof infrastructural projects in housing, tourism, and education.
Founded in 1993 to raise foreign investment in the country, CBI has helped build countless projects. Since early 2016, these ventures have focused heavily on constructing housing units that can stand the tests of harsh weather so residents can feel safe and not worry about building new homes every storm season.
The new projects will include seven new housing complexes, which consist of over 130 housing units, new roads and tourism sites to accommodate ease of travel, a school with a state-of-the-art auditorium, green areas, and sporting facilities, a national library, two healthcare centres with consultation rooms, pharmacies and accommodation for medical staff, and a government headquarters that is expected to be completed by the third quarter of 2022. Construction on these will begin in the first quarter of the New Year.
With a newly finished hospital and construction of an international airport and geothermal plant already underway, the CBI programme is not only a lifeline for those living in Dominica but also those investing in it. When international applicants pass rigorous due diligence stages and make a USD100,000 investment, they become citizens of the Commonwealth. This means flying to over 75% of the world, including business hubs in Asia, Europe and Africa, diversifying their assets, and securing their financial prospects. If you’re applying as a family of four, the minimum investment threshold is USD175,000, and the general approval timeline is within 90 days.
Given the uncertainty of today’s world, investors do not want to be tied to just one place, says Micha Emmett, the CEO of CS Global Partners, the world’s largest government advisory and marketing firm specialising in citizenship by investment. “The small island of Dominica offers investors a win-win solution. This means you get your mobility; you get your opportunity to send your kids to the best schools; you get to attend international meetings, and you can grow your business while feeling good that your money is creating a better future for an entire nation as well.”
As with most CBIs in the Caribbean, applicants and their family members do not need to reside or visit the island to qualify. Furthermore, Dominica’s currency is pegged to the US dollar, making it a financially lucrative destination for savvy investors.