One of the factors on which the development of a country’s economy depends is the investment made for the country’s progress. Over the last decade, the programmes which allow investors to have citizenship in exchange for a financial contribution to the country are rapidly gaining popularity. These investment programmes include several benefits exclusive to these programmes only and cannot be found anywhere else. These programmes provide investors with the opportunity to diversify their portfolios and secure some wealth.
Due to numerous benefits provided by the Caribbean countries, Dominica, St Kitts and Nevis and Saint Lucia have surpassed all other countries worldwide in delivering the best Citizenship by Investment Programme despite various other countries offering similar opportunities. These countries provide the applicants with the best offers and livable conditions.
Not only this, the CBI Programme of Dominica, Saint Lucia and St Kitts and Nevis provide commendable working space that aids in earning money, good living conditions, a variety of investment programs and even a chance to increase its citizenship by offering an opportunity to investors to bring their families as well. The country provides high living standards and a chance to live in modern facilities.
The CBI Index published by Professional Wealth Management Magazine of Financial Times has ranked the Carrabiean countries on the top for providing the benefits mentioned earlier. The CBI’s ranking system is an organised and complete system that evaluates operational CBI by investment programs worldwide.
Dominica has been unshaken for the past five years in a row and has secured the top rank consecutively. In August, PMW Magazine releases CBI Index every year. It is speculated that this year the top position will again be secured by Dominica as it evidently provides the best opportunities to the people in business to flourish their business by providing them best workplace and favourable investment opportunities.
Reasons why Dominica is worth securing the first position:
• Low cost and affordable CBI for investors and their families
• New Biometric passport strengthening security standards
• Excellent property market attractive to invest in hotels
• Wise use of CBI funds in sustainable development
• Due diligence checks
As far as the last year is concerned, Dominica was not the only country to secure the first rank. For the first time, Dominica shared its position with St. Kitts and Nevis. It was not a surprise for St. Kitts and Nevis as the country has been working hard to provide the best citizenship program. One of the reasons for these two countries bagging this position is the due-diligence procedure. Under this, an international-independent third-party firm and the CBI unit confirm whether the citizenship is given to a credible investor. Both the countries have been offering citizenship for the last two years and have tried their best to meet the challenges by welcoming various policy changes.
Citizenship by Investment Programme
Dominica: Since 1993, this Caribbean country has been offering alternative citizenship. This country is renowned as the world’s longest-running, invulnerable to harm and secure land. The programme has dual benefits to it. Not only is the programme helping the country to meet the market competition at the international level but also helping to extend and develop the economy of the country. The country seeks financial investment in the exchange of citizenship and the growth and expansion of the country’s infrastructure.
The Commonwealth of Dominica provides two investments programs to the investors, which are
- Economic Diversification Fund
- Real Estate Investment Option
Both the investment options have their respective features. Under EDF, the social-economical development of the country is prioritised, which implies that the investor invests in the social as well as economic development of the nation. The investment under EDF helps to construct health care departments, roads, schools, and houses. The investment under EDF commences from USD 100,000. On the contrary, if the investor opts for Real Estate Investment Option, then they invest in government-approved real estate property whose investment begins from USD 200,000.
St Kitts and Nevis: This island is known for establishing the world’s first citizenship by investment programme in the year 1984. This country has the oldest roots in providing Citizenship by Investment. It mainly offers citizenship to renowned investors. Contributing to the social and economic success of the Federation, the Citizenship by Investment programme is intended to deliver various opportunities to the citizens and investors in a responsible manner. The citizenship program of St Kitts and Nevis is the oldest yet very reputed CBI programme.
The option for investors is to invest through the most direct and affordable investment route, the Sustainable Growth Fund, also known as the Fund Option. It was launched in 2018. The minimum investment begins from USD 150,000. The funds are used to back areas like tourism development, local entrepreneurship and social assistance.