- Minimum investment outlay, ease of processing, due diligence analysis and no residency requirement are key factors for Dominica programme top ranking
- Dubai-based AAA Associates CBI advisory has a major part in the success of the programme
- Increase in UAE applicants is due to investors’ confidence in new Caribbean markets such as Dominica and Saint Kitts & Navis
- Dominican diplomatic mission in UAE is under the formation process, officials
The Dubai-based AAA Associates, a leading advisory specialised in the Citizenship-By Investment (CBI) programmes, has said, their Middle Eastern applicants data showed that the high net worth individuals contributed to record 51 per cent increase in demand for Caribbean citizenship in 2017-18 as compared to the previous years.
The top nationalities that contributed to this increase in demand are Syrians and Yemenis, followed by Qataris, Bahrainis, Omanis, Kuwaitis, Indians and Pakistanis, the report recorded.
The Citizenship-by-investment programmes are increasingly becoming popular among wealthy residents in the UAE in particular and in the Middle Eastern citizens in general. It allows access to visa-free entry into over 120 countries, including Schengen Zone for either for investment, business or educational purposes.
The high applicant inflow is attributed to the latest amendments in the citizenship legislation of countries such as ‘Dominica’, ‘Saint Kitts & Nevis’ and ‘Antigua & Barbuda’, where these countries dramatically slashed investment cost of Citizenship by Investment in bid to expand the programme to the maximum people.
Honorable Prime Minister of Dominica Mr. Roosevelt Skerrit was the chief guest at the seminar accompanied by His Excellency Emmanuel Nanthan, Head of Citizenship by Investment Unit of the Commonwealth of Dominica who said: “High demand and interest from the UAE significantly contributed to the UAE-Dominica bilateral relations, which lead the Dominican government to establish Dominica Embassy in Abu Dhabi and Dominica Consulate General in Dubai. The diplomatic mission is under the formation process and will be operational soon.”
“The lower investment and minimum taxation in Dominica, an immigrant’s savings multiply as compared to other countries who tax all immigrants. The country offers full residence status and dual citizenship, with the right to live and work in Dominica and there is no requirement to reside in Dominica before or after citizenship is granted,” he said. This provision suits the UAE Investors and Businessmen as they can reside in UAE, continue with their business activities and still have the option of getting 2nd Citizenship and Strong Passports.
Dubai-based AAA Associates immigration and CBI advisory assists migrant applicants for residence planning, citizenship and real estate consulting. Besides UAE, the company serves applicants from Qatar, Bahrain, Saudi Arabia, Oman, Kuwait, India, Pakistan and Syria.
“Citizenship by Investment in Dominica is a way to avoid time-consuming paperwork and immigration red-tape when planning to the 2nd citizenship. For example, a third-country national acquiring the citizenship opens up entire EU and over 100 countries to do business and live a secure and happy family life,” said ImranFarooq, Chief Executive Office of AAA Associates, a part of Samana Group of Companies based in Dubai.
A high networked Citizenship by Investment seminar organised by AAA Associates in collaboration with the Citizenship by Investment Unit of the Commonwealth of Dominica, was packed with a large gathering of prospective investors where immigration experts discussed a number of issues related to investing in Dominica citizenship.
The UAE, which hosts more than 8 million expatriates who contribute US$33 billion (Dh121 billion) remittance flow, is an ideal hub for emigrants and for countries in Europe, America, the Caribbean and Australia and New Zealand – who attract wealthy investors and skilled immigrants through business and investment immigration programmes offered to boost their economic growth.
“We are honoured and thankful to the high officials from the Commonwealth of Dominica who have flown in the UAE to address AAA Associates’ seminar and personally meet the investors here. Their presence is a great endorsement to the efforts done by AAA Associates in attracting people to the Dominican citizenship and ensuring the programme has Dominican government backing with assurance of investment protection,’ said Imran Farooq, Chief Executive Officer of AAA Associates, part of Samana Group of Companies.
Dominica, a small Caribbean island of 71,000 people, offers one of the most affordable economic migration packages, starting from only US$100,000 through government’s donation programme, or US$200,000 investment in property – that allows the investors to gain the passport of Dominica that allows visa-free travel to 120 countries, including Schengen territory.