Dominica CBI A Success despite Natural Disaster Declares ECCB!

Dominica CBI A Success despite Natural Disaster Declares ECCB!

During a luncheon themed “Transforming Currency Union Together- Dominica’ Scorecard” hosted by the Dominica Association of Industry and Commerce, the Governor of Eastern Caribbean Central Bank, ECCB Timothy Antoine, acknowledged Dominica’s CBI as a successful solution to the disaster caused by the category 5 hurricane in 2017 and effectively contributed in Dominica’s recovery from it.

According to the UN economic commission, Dominica’s GDP grew 9% which is the highest not only among all the Caribbean countries but all of the Latin America. Moreover, PWM magazine, a publication of Financial Times, too declared Dominica CBI to be world’s best for three consecutive years in its CBI index. After a stellar fiscal performance in the year 2019, Dominica’s economy is expected to expand further in 2020 as well. The UN’s Economic Commission also attributed the Dominica Citizenship By Investment Program to be a grand success as not only the public sector is heavily funded  by  the revenues generated by CBI but also the growing tourism sector sustained by the hotels approved by CBI.

The CBI program of Dominica has played an ‘enormous’ role in helping the Government recover from the disasters caused by the category-5 Hurricane. The ECCB governor added that “we understand the value of these programs for the economies’. He added that “we strongly encourage a regional approach to our citizenship by investment programs”. Timothy Antoine suggested digital transformation as the best way to take Dominica forward. Along with labor preparation with new skill set, Dominica’s economy is bound to rise he recommended.

Dominica is ranked on second position in competitiveness of the currency according to the Eastern Caribbean Currency Union. Despite certain constraints regarding business, the economy of the country is expanding with great gusto thanks to its burgeoning tourism and successful CBI program.

Dominica Citizenship by Investment is highly praised for its due diligence, transparency, integrity and efficiency and affordability all over the world. Dominica passport allows travel without visa or visa on arrival to approximately 110 countries and holders of the Dominica passport are not obliged to renounce their previous nationality either.

With the aim to be world’s first climate resilient nation, Dominica CIB is expected to generate more revenues this year too. PM Roosevelt Skerrit also suggested a global competitiveness for the  CBI program ensuring security and integrity, and insisted that all CBI officials undergo an anti-money laundering and counter financing of terrorism as an important tool to help good governance. For more updates and news about Dominica Citizenship by Investment, visit this page.

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