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ECNS Wire

Dominica offers citizenship to Chinese investors for $200,000

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2015-04-01 16:47Ecns.cn Editor: Mo Hong'e

(ECNS) - The Prime Minister of the Commonwealth of Dominica has visited China to find applicants for its citizenship-by-investment program, China Business News reported Wednesday.

Roosevelt Skerrit, Prime Minister of Dominica since 2004, expressed his hope that the Dominica Economic Citizenship Program, established in 1993, would attract investors during his trip to China last week.

Amid economic difficulties such as pest encroachment on banana plantations, insufficient tourism and the lingering effects of the financial crisis in 2008, the country's "passport-for-sale" program aims to increase government revenues, reduce debts and rebuild the country's economy.

Interested parties can immigrate to Dominica by either submitting an application directly to the government or by obtaining citizenship with a minimum investment of $200,000, according to Skerrit.

Those who want to own a second passport can invest in construction projects in Dominica, while the country is now working with an immigration consultancy to promote its citizenship-by-investment program, it was added.

Skerrit also said that applicants would not be taxed on their property, and that there were no regulations on capital gains and no language requirements.

When asked whether he was concerned about corrupt Chinese officials or businessmen illegally transferring their property to Dominica, he said that applications for citizenship will be approved only after comprehensive investigation and that the program was not established for criminals from China or the United States.

Skerrit also stated that Dominica welcomes people to enter and leave the country freely, be they tourists, investors or residents.

He expects foreign investment would create more job opportunities for the domestic population, boost the development of the tourism industry, and facilitate infrastructure construction and energy programs.

Dominica is an island nation in the Lesser Antilles region of the Caribbean with a population of about 71,000 and an area of 751 square kilometers. An English speaking country, it was a British colony until gaining independence in 1978. Tourism and agriculture are the main drivers of its economy.

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