Dominica’s economic citizenship programme under review

first_imgDominica’s Economic Citizenship Programme, which has been used as a tool for promoting foreign investment, is under review Prime Minister Roosevelt Skerrit has revealed.During his budget address on Tuesday, the Prime Minister explained that although it is a “well regulated, respected and transparent programme characterised by a high level of due diligence,” periodic reviews can be beneficial.He explained that this review is being undertaken in an effort to “strengthen” administrative procedures.One of the aims of the review is to “encourage participation in local investment opportunities” therefore; they are “considering the possible involvement of economic citizens in local projects”.The Prime Minister also announced an adjustment in the fees for Economic Citizenship Programme which will take effect on September 1, 2012.They are as follows;• Package A- Single Applicant- A non-refundable investment of US$100,000 rather than S$75,000 as at present,• Package B – Family Application (One Applicant plus spouse)- A non-refundable investment of US$175,000,• Package C – Family Application Two (Applicant plus one spouse and two children below the age of 18 years)- A non-refundable investment of US$200,000 rather than US$100,000 as at present, and• Package D – Family Application Three (Applicant plus one spouse and three children below the age of 18 years)- A non-refundable investment of US$350,000 and US$50,000 for every additional person 25 years and below.This new approach, the Prime Minister hopes, will assist in making the programme “more effective”.He further called on persons involved in the implementation process to “ensure that we all deliver for the benefit of the people of this country”.Some of the resources from the Economic Citizenship Programme have been used to finance a few government projects such as the local component of the geothermal project. Dominica Vibes News Tweet 21 Views   3 comments Share LocalNews Dominica’s economic citizenship programme under review by: – July 19, 2012center_img Share Sharing is caring! Sharelast_img

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