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Dominica's CBI Program -
New Investment Threshold

Home – Dominica’s CBI Program – New Investment Threshold

In an ever-evolving global economy, citizenship by investment (CBI) programs have become a significant avenue for nations to attract foreign direct investment. Dominica, known for its pristine landscapes and investor-friendly policies, has recently introduced a new investment threshold for its CBI program.

This adjustment marks a pivotal moment for the country, reflecting its commitment to sustainable economic growth and enhanced global standing. The new fee category not only aligns Dominica with international standards but also underscores the importance of continuous improvement and adaptation in an increasingly competitive market.

The introduction of this new investment threshold is a strategic move designed to ensure the long-term viability and appeal of Dominica’s CBI program. By raising the minimum investment level, the government aims to attract higher-quality investors who are more likely to contribute significantly to the country’s economic and social development as well as to respect the country’s sovereign document. This change is expected to bring about a range of benefits, from increased public revenues to enhanced global competitiveness, positioning Dominica as a leading destination for citizenship by investment.

The New Fee Category

Dominica’s government has announced an increase in the minimum investment level required to participate in its CBI program. The new threshold, which now requires an increased financial commitment from applicants, aims to elevate the quality and impact of the investments made through this program. This adjustment is seen as a strategic move to attract high-net-worth individuals who can significantly contribute to the nation’s economic and social development.

Economic Diversification Fund (EDF) Contribution

Under the revised program, the minimum contribution to the Economic Diversification Fund (EDF) has been increased. This fund directly supports Dominica’s economic and social initiatives, including infrastructure development, education, healthcare, and environmental conservation. The raised threshold ensures that contributions are more impactful, enabling the government to undertake larger and more ambitious projects that benefit the entire nation.

The EDF is a cornerstone of Dominica’s strategy to diversify its economy and reduce dependence on a single sector. By channeling funds into critical areas such as renewable energy, tourism, and agriculture, the EDF helps create a more resilient and sustainable economic model. The increased investment level ensures that the fund can support high-impact projects that drive long-term growth and development.

The new fee category
 is as follows :

  • Single applicant: US$200,000.00
  • Main applicant with up to three dependents: US$250,000.00
  • Any additional dependent under the age of 18: US$25,000.00
  • Any additional dependent 18 years of age or older: US$40,000.00

Real Estate Investment

The minimum investment required in approved real estate projects remained unchanged at US$200,000.00. The government fees associated with this option, however, has also seen an upward adjustment. This increase is designed to ensure that investments in luxury resorts and developments are substantial enough to drive significant growth in the tourism sector. Investors not only gain citizenship but also acquire valuable real estate assets that contribute to the island’s economic vitality.

Investing in real estate in Dominica offers several advantages beyond citizenship. It provides investors with a tangible asset that can appreciate over time, offering both a financial return and a lifestyle benefit. Approved real estate projects often include luxury resorts and residential developments, which not only enhance the tourism industry but also create jobs and stimulate local economies. The increased investment threshold ensures that these projects are of the highest quality and have a meaningful impact on the country’s development.

The revised Government Fees associated with the Real Estate Option were adjusted to reflect the following.

  • Single applicant: US$200,000.00
  • Main applicant with up to three dependents: US$250,000.00
  • Any additional dependent under the age of 18: US$25,000.00
  • Any additional dependent 18 years of age or older: US$40,000.00

It’s important to note that Dominica’s revised fees as gazetted is unique among the Caribbean CIP nations placing it at a slightly higher advantage.

Raising the minimum investment level is crucial for several reasons. Firstly, it helps to maintain the integrity and reputation of Dominica’s CBI program. By setting a higher bar, Dominica can attract more serious and committed investors who are genuinely interested in contributing to the country’s long-term prosperity.

A higher investment threshold ensures that the funds received through the CBI program are substantial enough to make a real difference. Larger investments allow the government to finance more significant projects, create more jobs, and improve public services. This, in turn, boosts the overall economic health of the nation and improves the quality of life for its citizens

For example, increased investments can fund large-scale infrastructure projects such as roads, bridges, and ports, which are essential for economic growth and development. These projects not only create immediate construction jobs but also provide long-term benefits by improving connectivity and access to markets. Additionally, higher investments can support social programs in education and healthcare, ensuring that all citizens benefit from the economic gains.

With a higher investment requirement, Dominica can attract high-net-worth individuals and families who are looking for stable and attractive investment opportunities. These investors often bring with them not just capital, but also expertise, business networks, and a commitment to the host country. This can lead to new business ventures, increased trade, and a stronger international presence for Dominica.

High-quality investors are more likely to engage in long-term investments and business activities that create lasting economic value. Their involvement can lead to the establishment of new industries, the expansion of existing businesses, and the creation of high-skilled jobs. By attracting such investors, Dominica can foster innovation, entrepreneurship, and sustainable economic growth, positioning itself as a competitive and dynamic economy in the global market.

Benefits of the
 New Investment Threshold

The new investment threshold will generate more revenue for Dominica, enabling the government to fund critical infrastructure and social projects. This includes improvements in healthcare, education, and transportation, which are essential for the nation’s development. By ensuring that investments are substantial, the government can undertake large-scale projects that have a significant and lasting impact.

For instance, increased revenue can be directed towards building modern hospitals and schools, enhancing the quality of healthcare and education for all Dominicans. Improved infrastructure such as roads, airports, and ports can boost tourism and trade, creating more economic opportunities for local businesses. The additional funds can also support environmental conservation efforts, protecting Dominica’s natural beauty and biodiversity for future generations.

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Enhanced
 Global Competitiveness

By aligning its investment thresholds with those of other leading CBI programs, Dominica strengthens its position in the global market. This move ensures that the country remains competitive and continues to attract top-tier investors. A higher investment requirement signals that Dominica is a premium destination for citizenship by investment, appealing to discerning investors who seek value and quality.

Enhanced global competitiveness means that Dominica can attract a diverse range of investors from different regions and industries. This diversification reduces reliance on any single source of investment and spreads economic risk. By maintaining high standards and offering a compelling value proposition, Dominica can compete effectively with other CBI programs worldwide, securing its place as a preferred destination for global investors

Sustainable Development

Higher investments mean more substantial and impactful contributions to sustainable development projects. This aligns with Dominica’s commitment to becoming the world’s first climate-resilient nation, ensuring that investments are used to protect and enhance the island’s natural beauty and resources. Sustainable development projects funded by CBI investments can include renewable energy initiatives, conservation programs, and eco-friendly infrastructure.

For example, investments can support the development of geothermal, solar and wind energy projects, reducing Dominica’s reliance on fossil fuels and lowering greenhouse gas emissions. Conservation programs can protect endangered species and habitats, preserving the island’s rich biodiversity. Eco-friendly infrastructure, such as sustainable tourism facilities, can attract environmentally conscious travelers and promote responsible tourism. By focusing on sustainability, Dominica can build a resilient economy that balances economic growth with environmental protection.

Dominica’s Prime Minister Hon Roosevelt Skerrit has been a vocal advocate for the strategic adjustments in Dominica’s CBI program. In his insightful contribution in the recent Caribbean Investment Summit, Mr. Skerrit emphasizes the importance of evolving CBI programs to meet global standards and attracting quality investments. He highlighted how these changes can drive economic growth, enhance national infrastructure, and improve public services.

Hon. Skerrit’s contributions have been instrumental in shaping public perception and understanding of the benefits of the new investment threshold. His analysis provides a comprehensive overview of how increased investment levels can positively impact both the investors and the host country, making a compelling case for the adjustments made by Dominica.

Hon. Skerrit in his recent trip to Dubai a major hub for Dominica Citizenship, met with service providers and agents exploring the broader implications of CBI programs for global mobility and economic development. He put forward the case that well-designed CBI programs can serve as powerful tools for attracting foreign investment, fostering innovation, and promoting sustainable growth. By advocating for continuous improvement and adaptation, Hon. Skerrit underscores the need for CBI programs to remain responsive to changing market dynamics and investor expectations.

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The Necessity of the Memorandum of Agreement among the Caribbean Five

Dominica’s decision to sign the Memorandum of Agreement along with other Caribbean CBI countries is a significant step towards regional collaboration and standardization. This agreement ensures that the Caribbean nations with CBI programs operate under a unified framework, promoting transparency, security, and ethical practices. The Memorandum of Agreement reflects a collective commitment to maintaining high standards and safeguarding the integrity of CBI programs in the region.

By adhering to a standardized set of regulations and guidelines, Caribbean nations can ensure that their CBI programs are not only competitive but also secure and reliable. This collaboration helps to mitigate risks associated with illegal activities and ensures that investments are directed towards genuine and productive projects. Regional stability is essential for attracting high-quality investors and fostering long-term economic growth.

Regional cooperation also enables Caribbean nations to share best practices and resources, enhancing the overall effectiveness of their CBI programs. By working together, these countries can address common challenges, streamline processes, and improve due diligence measures. This collective effort strengthens the credibility and reputation of Caribbean CBI programs, making them more attractive to global investors.

A unified approach to CBI programs across the Caribbean boosts investor confidence. Knowing that the region adheres to high standards of due diligence and regulatory compliance, potential investors are more likely to consider these programs as viable and secure options for their investment. Investor confidence is crucial for the success of CBI programs, as it encourages more individuals and families to participate and contribute to the host countries’ economies.

Enhanced investor confidence can also lead to increased foreign direct investment (FDI) and economic growth. When investors trust the integrity and reliability of CBI programs, they are more likely to make long-term commitments and engage in additional investment opportunities.

Dominica’s introduction of a new investment threshold for its CBI program marks a significant milestone in the nation’s efforts to attract high-quality investments and promote sustainable development. By raising the bar, Dominica ensures that the funds generated through the program are impactful and contribute meaningfully to the nation’s growth. With the support of Dominica’s own Prime Ministers and the collaborative efforts outlined in the Memorandum of Agreement, Dominica is well-positioned to maintain its status as a premier destination for citizenship by investment. Investors can confidently look to Dominica not just for a passport, but for a secure, prosperous, and sustainable future.

ABOUT THE AUTHOR

 Stephen Isidore

WhinChester Corporate PowerHouse is a leading international immigration and corporate services provider with established offices in Dubai, Hong Kong and Dominica, specializing in providing comprehensive corporate and immigration services to clients in the Caribbean region and beyond. With a strong emphasis on Immigration Investment, WhinChester offers a wide range of immigration solutions tailored to meet the diverse needs of individuals & families. It is also known to be a reliable corporate services provider.

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