Housing Dominica continues to deliver under CBI programme

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By Caribbean News Global fav

LONDON, England – Last June, the Housing Revolution funded entirely by contributions from the Citizenship by Investment (CBI) programme handing over 254 keys to families in La Plaine, Grand Fond, San Sauveur; and 66 resilient housing for families in Delices.

The healthcare system in the Commonwealth of Dominica was also cared for – building 14 new polyclinics and a State-of-the-art hospital.

After hurricane Maria in 2017, CBI funded the rehabilitation of three hospitals and six health centres. The following year, 16 children benefitted from critical medical healthcare abroad, sponsored by the CBI programme.

The government of Dominica remains dedicated to the development of the housing revolution and infrastructure development with a positive outlook.

Prime minister Roosevelt Skerrit budget for the fiscal year 2020-2021, themed – The Road To Dynamic Dominica – Fostering Economic Resilience – extended government commitment to housing the nation, “unparalled anywhere in the world,” through existing grants to first time home builders, meantime “the government has set aside an amount of $1.5 million, to support persons under the age of 40 years, whose annual income is less than $100,000, who have never owned a home before and are interested in acquiring a home of their own. This support will be provided in the form of grant vouchers to a maximum of $10,000 per home for the purchase of building materials or to be put towards the transfer fees for the purchase of a new home,” Dominica: Housing the Nation.

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The Housing Revolution aims to build 5,000 new homes for affected families is one of many CBI-sponsored projects along with community facilities, health centres and modern infrastructure, changing the lives of people, creating economic viability.

Dominica’s estimates of revenue and expenditure for the 2020/21 fiscal year, themed “The Road to Dynamic Dominica – Fostering Economic Resilience”, at EC$967.9 million is expected to invest EC$427.2 million in the public sector. This includes five priority areas: housing (27.5%); digital economy (16.5%); environment, rural modernisation and indigenous Kalinago upliftment (14.5%); healthcare (10.1%); and blue and green economy, agriculture, and food security (8.7%).

Beginning October 2020, Dominica will set aside half a million EC$ every month for weather emergencies, from the CBI programme and its development partners.

Dominica is one of the top 20 destinations of the future – the Nature Isle of the Caribbean with a thriving ecotourism industry and takes pride in being transparent in line with modern democracy showing where and what investors’ contributions are used for.

Under the CBI programme, foreign investors are rewarded with the country’s valuable citizenship. Qualifying investments of at least US$200,000 is available. Alternatively, applicants can make a one-off contribution of at least US$100,000 to the Economic Diversification Fund.

On June 24, the government of the Commonwealth of Dominica expanded the definition of ‘dependant’ under its Citizenship by Investment (CBI) Programme. The changes allow main applicants to add previously unqualifying adult children, parents, grandparents, and siblings. All dependants aged 16 or over must still pass due diligence checks to qualify.

The following dependants may now be added to an application:

A spouse of the main applicant; A child of the main applicant or of the spouse of the main applicant who is below the age of 18; A child of the main applicant or of the spouse of the main applicant aged 18 to 30 who is substantially supported by the main applicant or the spouse of the main applicant.

A spouse of a person who qualifies as a dependant parent or grandparent, who is substantially supported by the main applicant or the spouse of the main applicant;

A biological or legally adopted sibling of the main applicant or of the spouse of the main applicant who is aged 18 to 25, single, childless, and who is substantially supported by the main applicant or the spouse of the main applicant;

A biological or legally adopted sibling of the main applicant or of the spouse of the main applicant who is below the age of 18, single, childless, substantially supported by the main applicant or the spouse of the main applicant, and in receipt of consent to make an application under the Programme from all individuals with parental responsibility for that sibling. Read more.

Dominica has the world’s best CBI programme, established in 1993, and according to the past three consecutive issues of the CBI Index, released annually by  Professional Wealth Management (PWM) – a publication from the Financial Times. Dominica excels at transparency, integrity, and transformative impact on the native population.

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