Vietnamese’s eligible for Dominican CBI: The best country for economic citizenship

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LONDON, England – The Financial Times’ (FT) publication, Professional Wealth Management released the abridged Vietnamese version of its Citizenship by Investment (CBI) Index. The special annual report compares all the legislated programmes in the world that can offer certain foreign investors the option of obtaining second citizenship in exchange for an investment into the country’s economy. Of all 13 programmes currently active in the world, for the third consecutive year, FT experts found that Dominica is the best country for economic citizenship.

This year, the independent study concluded that “Dominica emerged once more as the country with the world’s best citizenship by investment programme, combining extensive due diligence with efficiency, speed, affordability, and reliability.” It further notes that the so-called ‘Nature Isle of the Caribbean’ is a model as regards the smart management of CBI funds, which have helped Dominica develop its economy and standards of living over the past few years.

Under Dominica’s CBI programme, Vietnamese applicants must first pass all due diligence checks; a process that ensures that only citizens of good moral standing are offered the chance to become Dominicans.

If ‘approved in principle’, applicants are required to either make a one-off minimum contribution to the Economic Diversification Fund (EDF) of USD$100,000 or invest at least USD$200,000 in a select list of pre-approved real estate. The latter includes renowned hospitality brands like Marriott, Kempinski, or Hilton, and luxury boutique resorts like Secret Bay, Jungle Bay or Sanctuary, all of whom contribute to Dominica’s booming ecotourism. The application process lasts up to four months.

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Vietnam allows dual citizenship, as does Dominica.

As a result, should Vietnamese applicants be successful in obtaining second citizenship from Dominica, they benefit from being citizens of a Commonwealth member state with all the facilities, rights and freedoms accorded to them. As Dominicans, specifically, they gain access to a significantly increased global mobility to key business hubs, more entrepreneurial opportunities, securing their family’s future by passing on their citizenship to future generations, and other worthwhile benefits.

Vietnamese investors can start their application process under Dominica’s CBI programme by selecting an authorised agent from the official government website.

The 2019 CBI Index in Vietnamese can be downloaded here.

 

 

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