Rasheed Alkhanji QICMS
Published 10:38 AM 25 August 2021
Updated 09:29 AM 31 July 2022
The Commonwealth of Dominica has come out on top once again in the ranking for best Citizenship by Investment (CBI) Program 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 program 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 program. "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 dependents and post-citizenship additions under Dominica's CBI Program 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 Program." 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 USD $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 traveling to the Caribbean island whenever you want and passing the citizenship on for generations to come.
Dominica's CBI program 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 program has no language, age, business experience, or educational requirements, and there is no mandatory interview.
When you move overseas to a warm-weather, low-cost destination, one of the things you'll likely notice is the number of tourists around. The same things that drew you to move to a country or region draw visitors who want to experience these delights for a short time.
With a safe lifestyle to offer and a lifetime citizenship in few months, Dominica Citizenship by Investment Unit has garnered a positive reputation, the highest number of inquiries, and a huge increase in applications from across the globe for a second passport.
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For more information on the Dominica Citizenship by Investment Program (CBI Program), please click here.
For the Citizenship by Investment Programs comparison table, please click here.
To compare St Kitts vs. Antigua vs. Grenada vs. St Lucia vs. Dominica, please click here .
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Source: Markets Insider