Dominica’s CBI Program generates over $1 billion in three years, according to PM Skerrit

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Prime Minister Hon. Roosevelt Skerrit has revealed that for the fiscal years 2017- 2020, 5, 814 applications have been approved under the Citizenship By Investment (CBI) Program, bringing in a total of over $1.2 billion dollars, DominicaNewsOnline reports.

In a response to a question asked in Parliament by the Leader of the Opposition, the Prime Minister reported that in fiscal year 2017-2018, one thousand, six hundred and seventy-three (1673) citizenships were approved as follows: one thousand seventy-three (1073) under the Government cash option, two hundred and eighty five (285) under the Montreal Management Consultants Est. (MMCE) housing cash option, one hundred and eleven (111) for children and dependents under the cash option and two hundred and four (204) under the real estate option.

For fiscal year 2018-2019, the number increased to 1,926 as there were five hundred and seventy-nine (579) under the Government cash option, eight hundred and two (802) under the MMCE housing cash option, seventy-seven (77) for children and dependents under the cash option and four hundred and sixty-eight (468) under the real estate option.

The number of approved citizenships further increased to 2215 in 2019-2020. According to the prime minister, there were three hundred and ninety-six (396) under the government cash option, one thousand fifty-seven (1057) under the MMCE housing cash option, three hundred and nineteen (319) for children and dependents under the cash option, while four hundred and forty-three (443) were approved under the real estate option.

In terms of CBI generated revenue, the Prime Minister disclosed that three hundred and seventy eight million, six hundred forty-two thousand six hundred and ninety-two dollars and forty-two cents ($378, 642 692.42) was earned in 2017- 2018, four hundred and eight million, seven hundred and eighty seven thousand, thirty-four dollars and twenty-three cents ($408, 787 034.23) for 2018-2019 and for the year 2019 -2020, four hundred and sixty three million, six hundred and seventy-eight thousand, four hundred and nine dollars and four cents ($463, 678 409. 04).

Based on the information presented by the Prime Minister, the total amount of money paid for citizenships under the CBI program for the fiscal years 2017 to 2020 is one billion two hundred fifty-one million one hundred eight thousand one hundred thirty-five dollars and sixty-nine cents ($1, 251 108 135.69).

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