(MENAFN- PR Newswire) LONDON, Sept. 10, 2020 /PRNewswire/ -- It is possible to become a citizen of the Commonwealth of Dominica without having any previous connection to the country through the Citizenship by Investment (CBI) Programme . However, the island is strict about a prospective candidate's integrity. Ambassador Emmanuel Nanthan, the Head of the Citizenship by Investment Unit (CBIU) in Dominica, explained why it suits families in a webinar with Gulf News and CS Global Partners last week.
Established in 1993, Dominica's CBI Programme allows vetted individuals and families to obtain second citizenship in exchange for an economic contribution. Applicants can choose between either making a one-off government fund contribution of at least US$100,000 or investment in pre-approved real estate from US$200,000. Ambassador Nanthan said that Dominica, who ranks first as the best country for CBI, has a straightforward three-month process, honed over time and balanced by strong due diligence.
"Longevity of our Programme demonstrates clearly that we have a Programme that is successful. [...] We have seen people becoming citizens, their children become citizens, their grandchildren, their children's children's children, and it goes on and on and on. [...] We have proven and stood the test of time - our investors know that, our agents know that, and that I believe is paramount to the success of our Programme as well."
Generations of the same families have been able to benefit from becoming economic citizens of Dominica. This summer, the CBIU adjusted its CBI Programme to encourage more family integration. More members of the main applicant's family or their spouse's can now qualify as dependants eligible for citizenship by investment. Dominica also adjusted its fund requirement threshold from US$200,000 to US$175,000 for a family of four, excluding siblings.
Prime Minister Roosevelt Skerrit commented during the same webinar: "The issue of family is very important to us, and it is for this reason that we have also brought this onboard in our CBI Programme. Recognising that, in many parts of the world, especially in the Middle East and in some parts of Asia, you have the same family structures. People look out for each other. People take care of their family, the parents and grandparents, in a very admirable manner."
To apply for citizenship from Dominica, an investor must enlist an authorised agent. After filing the necessary documentation - which agents can still submit online due to Covid-19 prevention measures - the due diligence checks start. Once 'approved in principle', the applicant makes their qualifying investment and subsequently receives their citizenship. This lasts for life and future generations.
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SOURCE CS Global Partners
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