Despite the global pandemic that has continued into 2021, the Commonwealth of Dominica has achieved plenty, particularly with help from its world-leading Citizenship by Investment (CBI) Programme. Under the theme “Our Health, Our Heritage, Our Future”, the Caribbean Island is celebrating 43 years of independence today after the United Kingdom relinquished control in 1978.
With emerging COVID-19 variants and subsequent lockdowns, the global health crisis has remained a challenge for economies, small or large. However, significant capital projects in Dominica have continued to progress smoothly. The last eleven months have seen Dominica make substantial headway in various sectors like healthcare to education due to the island’s commitment to national development and the support of growing CBI funds.
With the climate crisis presenting major threats to humanity, Dominica is one of the few nations ensuring it is doing its part in alleviating the impact of global warming. The Commonwealth Island has continued its quest to become the world’s first climate-resilient nation, as promised by Prime Minister Roosevelt Skerrit following the devastation of Hurricane Maria. Dominica has made advancements in the construction of a geothermal plant and the development of its eco-tourism sector. The government has also financed the Vulnerability Risk Fund – designed to help the island in the event of a weather disaster.
As larger nations grapple with a crumbling healthcare infrastructure overwhelmed by COVID cases, Dominica has used this as an opportunity to reaffirm its commitment to the sector. The country completed construction on its state-of-the-art hospital and several health clinics across the island – with more to come.
The highly anticipated international airport has also seen various developments, including soil testing, stakeholder meetings, and design finalisations. Once completed, the airport is expected to completely revitalise Dominica’s economy, boost air access to the island and support job creation.
2021 also saw Dominica’s pivotal ‘Housing Revolution’ initiative hand over several more homes to citizens. The project aims to provide thousands of weather-resistant and affordable housing units to Dominicans and is key to the country’s greater mission of climate resilience.
The role of the CBI Programme has been crucial to Dominica’s ongoing progress. With external funding even more difficult to secure during the global pandemic, the programme has enabled Dominica to look no further than its own resources.
Established in 1993, the CBI Programme has attracted foreign direct investment from foreign entrepreneurs and families seeking second citizenship. Applicants can become citizens of Dominica once investing in either a government fund or pre-approved real estate. They must also pass a multi-tiered vetting procedure that ensures that only those of the highest moral character are accepted as citizens, thus protecting the programme’s reputation and the country itself.
“Due diligence is the cornerstone of our CBI Programme as Dominica has [a] duty to protect and preserve the safety of the international community,” says Ambassador Emmanuel Nanthan, Head of Dominica’s CBI Unit.
The programme has also been ranked the world’s best CBI option for the fifth consecutive year in 2021, credited to its affordability, efficient processing, due diligence framework and family-friendly structure. With nearly three decades of experience in the industry, Dominica remains a top destination for second citizenship amongst global investors.