LONDON, England (MO.Properties) – In a recent interview with the Caribbean Journal, heads of two Citizenship by Investment funded real estate projects in Dominica admitted a high level of interest from American investors. Mohammed Asaria, the developer of the new Kempinski in Dominica, said that though the US had not previously been a target market, he sees a “steady stream of executions”. The owner of Dominica’s luxury eco-villas, Gregor Nassief, followed suit and said that his project had seen a 70 percent increase in inquiries.
Citizenship by investment, also known as CBI, is a route through which vetted and trusted investors can receive citizenship of a country like Dominica, usually by either investing in a government fund or pre-approved real estate. In Dominica, applicants choosing the second route are expected to invest a minimum of US$200,000in real estate.
“As promoters, we have also seen an increase in demand from Americans,” says Micha Emmett, the CEO of CS Global Partners, a London-headquartered legal advisory and government marketing firm. “In critical times, such as elections and pandemics, second citizenship becomes a greener pasture. COVID-19 has left high-net-worth individuals feeling vulnerable as citizen rights are curtailed. I feel strongly that Dominica is a haven, and so do many Americans who are exploring the opportunity of obtaining dual citizenship in this paradise.”
Wealth diversification is also an attractive factor when it comes to CBI, according to Emmett. “By diversifying your wealth portfolio, you protect yourself and your family from future unpredictability and risks,” she added.
Along with wealth diversity and visa-free or visa-on-arrival accessibility to 70% of the world, Dominica’s Citizenship by Investment Programme also allows safety and security for the entire family. Ranked the best CBI Programme in the world by the Financial Time’s CBI Index published by PWM magazine, Dominica’s perfect score in the family ‘pillar’ hails it the top spot.
Recently, the Caribbean island’s Prime Minister Roosevelt Skerrit announced that investors could include a broader range of “dependants” in an application, including grandparents, parents, siblings, a spouse, and children, subject to the fulfilment of certain requirements. Dominican citizenship also adds an additional layer of appeal as it can be passed down for generations to come.