Three Years After Hurricane Maria: Citizenship by Investment Has Revolutionised Dominica
Today marks the third anniversary of Hurricane Maria striking the Commonwealth of Dominica. Overnight, with 160-mile-per-hour winds, Maria damaged and destroyed the roofs of an estimated 90 per cent of buildings, toppled power lines and some of the thickest, strongest, oldest trees in the country’s lush forests. On the newest broadcast episode of Anou Palay, the leader recalled the devastation caused by the category five hurricane in 2017 and projected the rebuilding of Dominica as resilient.
The Prime Minister stated that the government reacted promptly to manage the situation post-Maria, which caused significant damages to the farming and housing sector. He reiterated the government’s commitment to constructing over five thousand climate-resilient homes along with repairing several others impacted by the hurricane. The funds for many of the build back better initiatives were provided by the World Bank and the island’s Citizenship by Investment (CBI) Programme.
“No country in this world, big or small, rich or poor, middle income, low-income, high income, no country in the world can deal with a national disaster at this stage,” he said. “I believe everybody in the country, maybe except myself, felt that we would never be able to bounce back […] The rest of the world is in miracle of what we have been able to do by ourselves, for ourselves.”
The CBI Programme, which allows evaluated investors to gain Dominican citizenship in exchange for their contribution to the government fund or tourism real estate sector, has helped the Commonwealth rebuild roads, bridges, health centres and school. CBI’s latest project is the construction of Marigot Hospital that will have world-class equipment to treat severe illnesses on the island instead of abroad. CBI is also supporting Dominica’s climate resilience ethos by ensuring all construction, for public use or tourism, can withstand harsh weather.
Alongside knowing their funds are used to better the lives of Dominica’s citizens, the prestige of Dominican citizenship, in return, permits investors to access global mobility with visa-free or visa-on-arrival entry to approximately 140 destinations across the planet. Economic citizens also gain enhanced business opportunities and the chance to pass Dominican citizenship down, establishing a future legacy.
For the last four years, Dominica’s CBI Programme has been recognised internationally as the world’s best by the Financial Times’ Professional Wealth Management magazine.
Published: 17 September 2020