Real Estate Investor Magazine South Africa Real Estate Investor Magazine - September 2017 | Page 58

CITIZENSHIP PROGRAMMES
Last Chance to
Jump Into Dominica
BY JAMES BOWLING
Investors embrace
Caribbean opportunity
I
nvestors looking to invest in the
Commonwealth of Dominica need
to act before the increase in quali-
fying investment criteria for their Eco-
nomic Citizenship Programme takes
effect. The increase is said to be imple-
mented at any time during 2017, and if
all goes according to plan, we will see
the minimum price of a Dominica pass-
port, amongst others, rise approximately
75% to $175,000.
Currently, the Eastern Caribbean
island’s citizenship by investment pro-
gramme is the most affordable of all the
reputable programmes in the world. This
is, however, not the only reason investors
are drawn to the island nation: Domi-
nica is economically secure and has the
lowest crime rate in the region. Out of
more than 700 locations around the
world, Dominica recently ranked 6th
for cost-effectiveness and 8th for human
capital lifestyle on the Foreign Direct
Investment (FDI) ratings. All of these
factors attract investors..
Committed to being an
investment enabler
Earlier this year, the Eastern Caribbe-
an Central Bank (ECCB) forecasted
a Gross Domestic Product (GDP)
growth of 3.1 percent for 2017. In 2016,
Dominica’s GDP stood at USD $454.3
million.
The Dominica Government is com-
mitted to fostering a vibrant business
climate with sustainable economic
growth and a revised macroeconom-
ic framework that is said to include
56
the strengthening of the nation’s fiscal
framework. This will attract even more
foreign investment.
As an emerging market in the East-
ern Caribbean, investment opportuni-
ties are mainly found within the alterna-
tive energy, capital works, eco-tourism,
education and information and commu-
nication technology sectors.
Real estate options
Out of a population of approximately
72 000 people, an estimated 3 000 plus
investor citizens from all over the world,
including Russia, China and the Middle
East, currently hold passports to what is
known as the happiest country to live
in. Foreign ownership of real estate in
Dominica increased rapidly over the
years, with a growing number of stra-
tegic investments in Dominica’s luxury
resorts and tourism sector. One such a
SEPTEMBER 2017 SA Real Estate Investor Magazine
project, is a development with a globally
recognised brand that offers investors
guaranteed rentals
How do I qualify?
• An applicant must buy approved real
estate in the country for at least USD
$200,000 (excluding Government
application fees);
• Maintain ownership of the property
for a minimum of three years;
• If the applicant maintains ownership
for five years, they are eligible to re-
sell the property under the citizen-
ship by investment programme.
Now is the time for investors to free
themselves from a single country’s po-
litical and economic risks by diversify-
ing their financial investments across a
variety of markets and asset categories.
James Bowling is the CEO of
Monarch&Co