LONDON, April 1, 2020 /PRNewswire/ -- The Commonwealth of Dominica, the country considered the best in the world for citizenship by investment (CBI), announced last week that it now accepts CBI applications submitted online. The adjustment was introduced to contain and prevent the transmission of the novel coronavirus. The Dominican Citizenship by Investment Unit (CBIU) has now moved its operations remotely.
As of March 25th, authorised agents - who are mandatory to apply through - can submit clients' applications online, while the physical originals will be required at a later stage. The online submission would allow for the mandatory security checks to be carried out. Dominica is known for having some of the strictest due diligence standards of all CBI programmes in the world, which earned the country its reputation for integrity.
"Pursuant to guidance issued by the Government of the Commonwealth of Dominica to ensure containment and to prevent transmission of Covid-19, the Citizenship by Investment Unit will […] operate remotely and will accept complete applications uploaded through our online portal," reads the statement signed by Ambassador Emmanuel Nanthan, Head of the CBIU.
The most direct and affordable route to Dominican citizenship is to contribute to the Economic Diversification Fund (EDF). This is a government fund used to sponsor transformative projects across the island. Economic citizens' contributions to the EDF have enabled Dominica to, among others, modernise its road network, build new public housing, invest in green energy and rehabilitate the countless natural sites across the island. Prime Minister Roosevelt Skerrit called CBI Dominica's "lifeline".
Alternatively, those who wish to obtain Dominica's valuable citizenship can invest in pre-approved real estate, which comprises luxury resorts and hotels. Together, the two channels of investment under the CBI Programme set the foundation for an emerging ecotourism sector. Building upon its abundance of greenery and healthy lifestyle, Dominica has focused on the quality - not quantity - of tourists, thus "carving a niche of its own", according to a recent documentary filmed by FT Specialist.
The sparsely populated rainforests covering the island are home to a diverse flora, exotic fruits, hot springs, waterfalls, rivers and hiking trails, surrounded by sperm whales and an enchanting marine life. The Financial Times' fDi Intelligence believes that Dominica, also known as the 'Nature Isle of the Caribbean', is one of the top tourism destinations of the future, specialising in ecotourism and wellness.
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