New FT Special Report Ranks Dominica as World's Best Country for Citizenship by Investment
Published by the Financial Times' Professional Wealth Management (PWM) magazine, the special report ranked the Commonwealth of Dominica as the best country in the world to obtain economic citizenship from for the third consecutive year.
ROSEAU, Dominica, Aug. 20, 2019 /PRNewswire/ -- Dominica's Citizenship by Investment (CBI) Programme has been awarded the number one place in the 2019 CBI Index released earlier this week. Published by the Financial Times' Professional Wealth Management (PWM) magazine, the special report ranked the Commonwealth of Dominica as the best country in the world to obtain economic citizenship from for the third consecutive year.
Dominica maintained its top position in the independent study by scoring full marks in five of the seven pillars against which programmes are typically assessed. Namely, Dominica excelled in terms of due diligence; ease of processing; citizenship timeline; mandatory travel or residence; and minimum investment outlay. Importantly, FT experts noted that Dominica is leading the way in terms of CBI integrity and accountability with respect to real projects for native citizens, so much so that European Union member states like Malta and Cyprus are said to be replicating the Dominican model.
"Dominica emerged once more as the country with the world's best citizenship by investment programme, combining extensive due diligence with efficiency, speed, affordability, and reliability," cites the source. It further highlights that "Dominica also set the record for the highest percentage score ever achieved on the CBI Index: 91%"
Specialists at the Financial Times' PWM magazine explain what motivates Dominica's leadership in the CBI industry, stressing the Government's long-term strategy to effectively invest in climate resilience, healthy economic growth and ultimately focusing on improving the livelihoods of Dominicans across the island. This was possible by finding the right balance between investors' expectations, international security standards and, most importantly, the impact the Programme is having, directly or indirectly, on the people of Dominica. The report notes that this should be, in fact, the "guiding principle" for all CBI programmes and that Dominica was the trendsetter of the year in this respect.
Christofer Ashby, managing director of Grenadian developer L'esterre, comments on how the Government of Dominica used CBI funds to create "material positive impact" and a "clear social dividend". The CBI Index reports that "Dominica is also an industry leader in its transparent and effective use of citizenship by investment donations," mentioning some of the projects made possible thanks to the way Programme-generated proceeds have been managed.
"Dominica's [programme] is hugely important to its economy, helping mitigate the devastating damage wreaked by Tropical Storm Erika in 2015 and Hurricane Maria in 2017." Two years later, tourism numbers are soaring, exceeding pre-Maria levels by over 11%.
The small Caribbean island has bounced back remarkably, inspiring confidence from world-leading brands rushing to open their hotels in Dominica. Property investors seeking second citizenship are buying shares in the real estate options eligible under the Dominican CBI Programme, starting from US$200,000, with an expected return on investment. FT experts state that "Dominica's real estate option has flourished", while some developers on the island are announcing that they have already sold out of CBI-approved shares. Demand for Dominican real estate is on investors' radar as a reliable option, especially because many of the CBI hotels and resorts are already open or progressing on schedule. Alternatively, single applicants can make a one-off US$100,000 contribution to the Economic Diversification Fund.
Dominica's Citizenship by Investment Programme was established in 1993 and offers reputable investors and their families the chance to acquire its valuable citizenship in exchange for an economic contribution. For more information on the application process, investment channels and benefits of Dominican citizenship, please visit the official government website: www.cbiu.gov.dm
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