Embassy of the Commonwealth of Dominica to the UAE
Prime Minister Skerrit Stresses Legal Compliance and Integrity in Dominica’s CBI Programme
NEWS | 24.04.2024
Standing by Strong Principals and Advocating for Developers
With a focus on advocating for developers and addressing injustice, Prime Minister Skerrit highlighted the vulnerabilities faced by small island nations in the wake of climate change.
Urging collaboration and a unified voice in addressing global challenges, he called for dialogue and diplomacy to resolve issues affecting millions worldwide.
“There has to be a greater culture and an attitude of leaders in the world for more dialogue and for more diplomacy in resolving issues.” He expressed how Dominica stands in solidarity with those countries who are suffering the impacts of geopolitics, stating the importance of CBI Programmes to small island states.
“CBI has helped all of our countries to grow our economies, to reduce the levels of poverty in our countries, to expand the economy, to create jobs, to create a better way of life for all people, to close the fiscal gap in many countries where that exists, and to allow for foreign direct investment in our country.”
Embracing OECS Countries Collaboration
During his address, Prime Minister Skerrit shed light on the recent Memorandum of Agreement among OECS countries, underscoring the importance of harmonised legislation, standardised application procedures, uniform due diligence processes, and information sharing among member states.
“So, if one person applies in Antigua and is rejected, then Antigua would have an obligation to inform every one of us, and vice versa, to ensure that no one person takes advantage of any one of the programmes.”
This collaborative effort aims to create a more integrated and cohesive framework that unites stakeholders under a common vision of excellence, accountability, and transparency.
Remaining True to the Ideals of Dominica’s Citizenship by Investment Programme
Reflecting on the economic and social impact of the CBI programme, Prime Minister Skerrit highlighted its role in reducing poverty, driving economic growth, and creating opportunities for citizens.
“And so for us, we do not only look at the programme solely from an economic standpoint – a financial standpoint – we look at it from the point of view of a small country like Dominica, playing a huge role in allowing so many citizens who otherwise would have been in some kind of difficulty or challenge, to have a document to allow them for greater mobility and the feeling of being part of a country, a member of the United Nations and all international organisations.”
He emphasised the programme’s resilience, particularly in generating revenues post-Hurricane Maria, and its ongoing contribution to sustainable development in Dominica.
The Importance of Compliance with Regulations
Delving into the significance of the Citizenship by Investment (CBI) programme, Prime Minister Skerrit underscored Dominica’s commitment to upholding legal compliance and integrity in the programme. He detailed the importance of adhering to regulations and laws, reinforcing the government’s dedication to ethical conduct.
Prime Minister Skerrit stressed the critical role of laws and regulations in governing the CBI programme, emphasising the need for stakeholders to adhere to existing laws.
“And so, it’s important where the human being is concerned that we go the extra mile in ensuring that we maintain the high governance principles of this programme.”
He reiterated the importance of full compliance with regulations, stressing that citizenship is not a commodity subject to sales promotions but a matter of constitutional sanctity. Applicants must contribute the full amount as legislated in the regulations.
“And if it’s not in the law, it shouldn’t be done, because the law doesn’t allow it.” Subsequently, discussions are currently underway to explore the reinstatement of visa-free travel from the United Kingdom to Dominica. These ongoing talks aim to address the potential restoration of visa-free access, enhancing travel ease and promoting closer ties between the two nations.
Acknowledging Economic Citizens, Developers, and Agents
In discussions with industry stakeholders, Prime Minister Skerrit expressed gratitude to economic citizens, developers, and agents for their contributions to the strength and resilience of the Dominica CBI Programme.
He recognised their pivotal role in ensuring the program’s success and highlighted the importance of their responsibilities in maintaining the programme’s integrity.
“And so, if you want to leave with one sentiment from what all of what I’ve said today, is that myself, personally, the Prime Minister, and the entire country appreciates all of you. And so, every one of you in this room, you know, you are special to us.”
Once again, Prime Minister Skerrit has reiterated the government’s commitment to enhancing stakeholder relationships and efficiency within the CBI programme. Marie-Therese Johnson, Director of the CBIU, also highlighted the pivotal role that agents and developers play in guiding potential investors towards the possibilities that the Dominica CBI Programme offers.
“Your role as agents is not just about transactions; it is about shaping destinies, forging connections, and building bridges to a brighter tomorrow.” As the dialogue continues and partnerships strengthen, Prime Minister Skerrit’s message resonates with a call for unity, transparency, and mutual respect in building a resilient and prosperous future for Dominica and its global partners.