LONDON, July 26, 2019 /PRNewswire/ -- During an interview for Dominica's Broadcasting Service (DBS), Prime Minister Roosevelt Skerrit revealed how Dominica's Citizenship by Investment (CBI) Programme has supported Dominican children to study abroad. According to the PM, around $26 million have been distributed for education, entirely from CBI, for students studying overseas in countries like Canada, the United Kingdom and the United States.
In the same interview, Prime Minister Skerrit emphasised how CBI had helped the island recover following Hurricane Maria in 2017. This included rebuilding thousands of homes, as well as the 'Housing Revolution' initiative which aims to build 5,000 new climate-resistant home, whose construction created jobs along the way. CBI also helped Dominica establish and expand its ecotourism sector and improving employment prospects with long-term effect.
CBI has been a lifeline for Dominica, a sentiment that PM Skerrit expresses frequently. He says the small Caribbean island's remarkable recovery after Hurricane Maria in 2017 would not have been possible "had it not been for the Citizenship By Investment Programme, which demonstrated its resilience because, […] within 90 days after the hurricane, we were back in business in respect to the CBI programme," stated the PM during a vine-cutting ceremony at the newly reopened, CBI-approved Jungle Bay resort.
Since 1993, Dominica's CBI Programme has been enabling carefully vetted global individuals and their immediate relatives to acquire second citizenship through either a one-time non-refundable contribution into the government's Economic Diversification Fund or buying into selected real estate, currently counting seven unique hotels. The government-legislated programme is one of the oldest in existence and has been internationally recognised by experts at the Financial Times' PWM magazine for its high efficiency, affordability and due diligence standards. A special independent report, titled the CBI Index, ranked Dominica as the world's best offering for economic citizenship for the last two consecutive years.
Funds generated from the programme are channelled into the socio-economic advancement of the island including job creation, healthcare, education, climate change, ecotourism and infrastructural development. Importantly, Dominican government's transparency of usage of CBI receipts is often referred to as a model of how a CBI programme should be managed. For over two decades, Dominica has had a stellar reputation within the economic citizenship industry, as foreign investors choose the island's CBI Programme for its longevity, efficiency and integrity.