Dominica to host CIP meeting

Representative from at least five Caribbean countries are to meet here later this week to discuss the Citizenship by Investment (CIP).

The Coordinator of the Dominica Citizenship by Investment Unit, Emmanuel Nanton said that the countries in the Caribbean with CIPs had agreed to meet every quarter “to discuss where we are in the programme, review the industry, make recommendations for changes and basically to share information”.

Nanton said that similar meetings have already been held in Antigua and Barbuda and Barbados.

“At this meeting we expect to have participants from all the countries with citizenship programmes, including St. Kitts-Nevis, Antigua and Barbuda, Dominica, St. Lucia and Grenada”.

Nanton said it is also expected that several key stakeholders, such as United States and Canadian embassies will be represented as well as a representative from the International Monetary Fund (IMF).

Under the CIP, foreign investors are granted citizenship on conditions of making a substantial investment in the socio-economic development of any of the participating islands.

Despite coming under criticism from some countries, the CIP represents a major investment strategy for some Caribbean countries.

The Investment Migration Council had also been invited to participate and deliver a talk on industry standards.

Source: antiguaobserver.com