August 20, 2021
The Commonwealth of Dominica has come out on top once again in the ranking for best Citizenship by Investment (CBI) Programme for the year 2021. On August 18th, the Financial Times’ Professional Wealth Management magazine released its fifth annual CBI Index, an in-depth report that examines and evaluates CBI programmes offered by various countries in the Caribbean, Europe and Asia.
“For Dominica, first place has been a consistent result for five consecutive years. Maintaining a perfect score in six out of the nine pillars assessed,” researcher James McKay said in the report. ‘Pillars’ are measurement factors that assess the performance and appeal of each CBI programme. “Dominica once again promises, among other things, an affordable minimum investment outlay, a streamlined application process, and certainty to investors,” he added.
Other areas the index appointed Dominica a perfect score were pillars of Mandatory Travel and Residence, Due Diligence, and Family – a pillar added last year. The researcher noted changes to the definition of dependants and post-citizenship additions under Dominica’s CBI Programme in 2020, which let applicants add newborns, children aged 30 and under, new spouses, siblings, parents and grandparents. “Family inclusiveness seems to have reached an apex,” the report said.
Prime Minister Dr the Hon Roosevelt Skerrit welcomed the index and said that “those who become Dominican citizens are considered a part of our family. They help build our roads, hospitals and schools through investment in our CBI Programme.” The Prime Minister also thanked those working at the Citizenship by Investment Unit on the island for their hard work.
Applicants can choose to either make a one-time non-refundable investment of 100,000 into the Economic Diversification Fund (EDF) or purchase pre-approved real estate options. Those who pass the necessary due diligence checks receive Dominica’s citizenship and can apply for the country’s passport, which grants global mobility to over 140 destinations across the seven continents. Being a citizen of Dominica also means living, working, and travelling to the Caribbean island whenever you want and passing the citizenship on for generations to come.
Dominica’s CBI programme is legally entrenched in law, and since local law does not contain any restrictions on holding dual nationality, obtaining second citizenship through investment in the country is a confidential process. In addition to having no physical residency obligation, Dominica’s CBI programme has no language, age, business experience, or educational requirements, and there is no mandatory interview.