Dominica’s CIB and Tourism led its GDP Grow 9%: UN ECLAC

A recent report released by the United Nations’ Economic Commission of Latin America (ECLAC) announced Dominica’s GDP rose by 9% in 2019. The reason for this jump is its burgeoning Tourism and Citizenship by Investment Program, declaring Dominica to be the fastest growing Economy in all of Latin America and the Caribbean Region.

A growing trend of global citizenship is leading many high net worth applicants gravitating towards a Caribbean Passport. Compared to all other Caribbean countries, Dominica allows a minimum contribution of just $100,000 to Govt’s Economic Diversification Fund (EDF) or investment in approved real estate i.e. luxury hotels and boutique resorts. This investment is crucial in fuelling the constructive developmental projects in public sector, which in turn, is integral in propelling the ecotourism in the country. Owing to the ongoing construction activities, stress on resilient natural resources and ecotourism, the nation is competing with the international market. Cruise ship arrivals and stopovers in Dominica have increased 7 and 3 times respectively. Considering the devastation in Hurricane in September 2017, achieving this growth in a short span becomes even more stellar!

The foreign exchange accumulated through Citizenship by Investment fund is utilized to sponsor major nationwide developmental projects including sustainable housing, roads, civic amenities, international airports, geothermal plant etc. Investors’ contribution through Dominica’s CBI is leading to an overall long term sustainable growth which has contributed in stabilizing the economy promising a great future for the country.

ECLAC also reports that the notable growth in Eastern Caribbean Currency Union (ECCU) activities, primarily in Dominica has a very robust effect on the economy of the Caribbean region leading to a GDP growth across ECCU driven areas. The reports further says that the “robust performance of the tourism sector, as well as the Citizenship by Investment (CBI) programs and public sector-fuelled construction activity, were primary drivers of ECCU-wide GDP growth in 2019,".

Dominica’s Citizenship by Investment Program (CBI) is considered to be the world’s best with reliable due diligence and a good number of visa-free travel, which attracts individual and families of high net worth individuals.

 To know further about Dominica Citizenship by Investment Program click here.

February 23, 2020
Turkey Citizenship - Easy Route to E2 Visa for Indians

Past few months have seen a significant increase in the number of applicants from India applying for Turkish Citizenship to be applicable for the E2 visa scheme of the US. Turkey has recently relaxed its dual citizenship requirements and made citizenship by investment cheaper, hence garnering more demand among citizens from different nationalities across globe, […]

February 15, 2020
Russia Relaxes its Dual Passport Rules for Foreigners

After mulling over its citizenship law for quite some time, Russian lawmakers are going to sign a legislature regarding revised citizenship rules in the upper house of their Federation Council, by this month. The draft legislature is aimed to relax restrictions on Dual citizenship and passport to make Russian citizenship an attractive option for foreigners […]

February 15, 2020
Benefits of Investing in Turkish Investor Program

The Turkish Investor Program is a citizenship by investment program designed to provide passport and citizenship to interested foreigners with high net worth. With an investment starting from just a minimum of $250,000 you can not only buy Real Estate in prime locations in Turkey but also get Citizenship and Passport within just 3-6 months.

February 5, 2020
BioMetric Check Introduced for Due Diligence by St Kitts and Nevis

Prime Minister Timothy Harris announced in his Annual Budget Address 2020 that the country’s Citizenship Unit is going to introduce biometric record verification as a compulsory part of the due diligence process for each applicant to be considered for St Kitts and Nevis Citizenship by Investment (CBI) Program. As per the PM, it is a […]

ABOUT

DUBAI OFFICE

CYPRUS OFFICE

Copyright 2020 CTrustGlobal Ltd. | All Rights Reserved | Working under the umbrella of Trust Group

phonefaxpaper-plane linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram