Prime Minister of Dominica provides update on international airport and importance of citizenship by investment funds for the public sector
LONDON, June 6, 2021 / PRNewswire / – During a government program, the Prime Minister Roosevelt skerrit of the Commonwealth of Dominica provided viewers with an update on the planned international airport. The government has now officially signed an agreement with Montreal Management Company for the construction of the airport fully funded by the Citizenship by Investment Program (CBI).
Project Manager Collin McIntyre joined the Prime Minister in discussing the importance of using CBI funds instead of taking out loans that would burden taxpayers and generate additional debt. Prime Minister Skerrit also looked at how the funds are used, detailing government transparency. This includes a budget for the construction of the airport, with the government allocating CBI allocations to meet the budgeted amount.
Prime Minister Skerrit also underlined how vital the program is to the public sector as a whole: “We thank God for the CBI and the many opportunities the program has brought to our country. […] CBI funds are used for public sector investment projects [like] roads, bridges, schools, housing, health centers, hospitals and pay off our dearest debts. We really didn’t use CBI funds for recurring expenses except after Hurricane Maria. ”
Most recently, program funds have helped build a state-of-the-art hospital, a large housing project and 12 health centers on the island. The transparency of the program has been corroborated by independent bodies, including Pricewaterhouse Coopers, which conducted an audit of the program and its expenditure analysis. in a 2019 report.
With nearly three decades of investment migration experience, Dominica The CBI program is consistently ranked as the best in the world by the CBI Index. The program enables wealthy individuals and other dependents to become citizens of the country by investing in a government fund or buy pre-approved real estate. Applicants are then subjected to rigorous due diligence checks to ensure that only those with a character of integrity become citizens. It is only after these checks are passed that applicants receive a citizenship receipt and apply for their second passport. Citizens and expatriates of or residing in the Middle East, especially in the United Arab Emirates, have flocked to Dominica for decades as part of its Economic Citizenship program due to its affordability, longevity and family structure that allows applicants to add a large list of dependents to an application.
Being a Dominican citizen offers a plethora of opportunities such as increased global mobility in over 140 countries and territories, alternative business prospects in a stable democracy and, significantly, the ability to pass citizenship on to generations to come.
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SOURCE CS Global Partners