DUBAI, UAE (Bahamas Herald) — Dominica was impacted significantly by Hurricane Maria, a category 5 storm leaving behind a trail of devastation and over 50,000 people displaced and earlier this month, Prime Minister Roosevelt Skerrit gave the opening address at the Investment Immigration Summit East Asia in Hong Kong.
“What we would like to recognize is that, literally days after the hurricane, our citizenship by investment (CBI) programme was back on the road. While we were receiving 200+ miles wind, stakeholders were processing applications because we were able to advance our programme to ensure that we utilize technology to enhance the effectiveness and efficiency of our programme,” he noted.
When asked about whether Dominica will follow St Kitts and Nevis and Antigua and Barbuda in the recent controversial reduction of its CBI programme prices, Skerrit responded, “The government of Dominica has not taken any decision in respect to this matter. What I would like to see though, for the long-term benefit of the programme, is for there to be a base price for all the categories within our programmes based on a gentlemen’s agreement that we shouldn’t go below a particular price point.”
Prime Minister Allen Chastanet of Saint Lucia also made an appearance at the event in Hong Kong. When interviewed by Investment Migration Insider, he confirmed that Saint Lucia will be accepting other currencies as part of its CIP programme, and is looking at the possibility of getting its domestic bank, Bank of St Lucia, to open a branch in Dubai as part of the IFC.
Chastanet hopes to have it up and running before the end of the year, if not, by early January. They will be looking at accepting the euro and the yen first, and possibly bitcoin.
The investment migration industry is now looking towards the Middle East and North African region and hoping to tap into the potential of this market.
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