At a conference held last month to discuss the most important situations related to the State of Dominica, the Prime Minister stated with regard to the country’s economic situation that it is expected to witness an increase of 3.4% for the year 2021, as he noted that several factors contributed to this, the most important of which are activities in the construction sector and the construction sector. Agriculture, in addition to manufacturing trade, as well as retail trade.
The Prime Minister also indicated that the Dominica citizenship by investment program had the most prominent role in raising the economic activity of the country, and it is expected that many investments will be made through the financing resulting from the citizenship by investment program in Dominica in the next fiscal year, as it is expected that Funding is approximately $311.7 million.
He said the main investment is the construction of the Dominica International Airport, which will create sustainable job opportunities for the local population. Moreover, discussing the government’s efforts to improve the healthcare sector, the Prime Minister said that more than $52 million has been spent on building 12 new health and wellness centers.
The Dominica Citizenship by Investment Program was established by the Government of Dominica in 1993 to enhance foreign economic contributions to the development of the country’s infrastructure, support the local workforce by creating new jobs, and achieve sustainable economic growth and prosperity. In contrast, the program allows foreign investors to obtain permanent legal citizenship and a second passport within 3-4 months, which is the fastest citizenship program in the Caribbean.
Dominica citizenship by investment is available through two options:
- A non-refundable contribution under the Economic Diversity Fund.
- Real estate investment in a project approved by the Citizenship by Investment Unit in Dominica.
For more information on this topic, contact the Reach Immigration team who are always ready to provide you with the information you need.