As the EU, the United Kingdom, and the US tighten their grips on immigration policies, Kenyan investors are feeling the effects of hyperinflation and global markets, impacting their abilities to trade and travel to these countries. Enter the Dominica Citizenship by Investment Programme for Kenyans.
Kenyan investors are making the most of Citizenship by Investment (CBI) programmes in the Caribbean, more particularly in the Commonwealth of Dominica.
The country’s official language is English, closely followed by Dominican Creole, which is French based, amongst local citizens.
Known as ‘The Nature Isle of the Caribbean’, Dominica is economically and politically stable. It’s one of the fastest-growing economies in the Caribbean region.
The IMF predicted that the country would exceed growth of over 4.5 per cent for 2023, including a full recovery of the tourism sector post-pandemic. The recovery is supported by the construction of ta geothermal power plant, the new international airport, and the expansion of Douglas Charles Airport runway.
Earlier this year, Dominica Prime Minister, Honourable Dr. Roosevelt Skerrit, alongside Dominica Education Minister, Octavia Alfred, and Parliamentary Secretary, Fenella Wenham-Sheppard, met with principles from secondary schools to discuss the education reform in the country.
The discussion included possibilities to review the national education system and to effect change towards a stronger education system to ensure all students in Dominica can access fundamental education and develop their learning experiences.
Dominica has quality healthcare facilities that align with international standards. Honourable Dr. Skerrit additionally announced changes to the country’s healthcare policy. The aim is that Dominican citizens should all have access to quality medical facilities, despite their economic status. Dominican youth between 16 to 18 years of age will have access to free medical care in the country.
The Minister of Health, Wellness and Social Services of Dominica, Cassani Laville, guided a tour around the Marigot hospital and the state-of-the-art medical treatment facilities.
The island is an ideal retirement location for senior Kenyan citizens. Dominica’s CBI Programme attracts a flourishing expat community by providing opportunities in a favourable business environment, and safety and security for their families.
Dominica Citizenship by Investment Programme for Kenyans
Dominica’s CBI Programme is one of the most popular programmes in the Caribbean and the one of the most recognised globally.
A citizenship solution for Kenyans to secure their personal well-being, families and the future of their businesses, in a world filled with uncertainties. There are two distinct investment options that Kenyan investors can select from.
Economic Diversification Fund (EDF)
With an investment amount of US$100,000 (estimated KSh14,000.000), the EDF is an investment option that supports socio-economic initiatives in Dominica. This is an element in the national capital mobilisation portfolio.
The EDF supports the construction and development of schools and medical facilities. As well as agriculture and tourism sectors, as well construction of a national sports stadium.
Climate change resilience in Dominica
Dominica is actively striving to become the world’s first climate-resilient country and fulfil sustainable development goals. Various government projects such as the planning of a geothermal power plant have gained traction in the latest developments.
Dominica Geothermal Development Company and a Trinidad and Tobago company, Kenesjay Green, created a Joint Venture to advance the geothermal and hydrogen projects in the country. This will lead to Dominica to join the global exporters of green hydrogen energy, as well as economic development in key sectors.
Launched in 2018, the Climate Resilience Execution Agency for Dominica (CREAD) was formed to support the economic development of the country and achieve 20 targets by the year 2030.
There targets are separated into six categories:
- Strong Communities
- Robust Economy
- Durable Infrastructure
- Enhanced Institutional Systems
- Collective Consciousnes,
- and Protected and Sustainability Leveraged Natural and Other Unique Assets.
These government initiatives to tackle climate change are critical to Dominica for preparedness and preservation of their natural environment.
Kenyan investors can splurge on the Real Estate investment option that has a variety of government-approved properties that offer unique luxurious experiences for affluent Kenyans that seek luxury lifestyle choices.
The minimum contribution amount is US$200,000 (estimated KSh36,000,000) towards a government-approved real estate property.
This investment option permits Kenyans to hold the real estate property for a period of three years from the date of citizenship approval, or for five years should the potential future buyer be a CBI applicant.
There are government fees attached to each application should the main Kenyan applicant want to include dependants, which consists of a spouse (next of kin):
- US$25,000 (estimated KSh3,500,000) for the main applicant;
- US35,000 (estimated KSh4,900,000) for the main applicant and up to three dependants;
- US$50,000 (estimated KSh7,000,000) for the main applicant and up to five dependants;
- US$25,000 (estimated KSh3,500,000) for additional dependants.
There are due diligence and processing fees applied per application.
Dominica boasts global award-winning unique real estate properties. These are on-demand and have high potential of Return on Investment (ROI) earnings for discerning Kenyan investors.
InternContinental Dominica Carbits Resort & Spa
Dominica’s first government-approved real estate. The luxurious property is located on the beachfront of Douglas Bay. It boasts sustainable elements which furnish memorable experiences for Kenyans.
The crown jewel of the ‘Nature Isle of the Caribbean’. The eco-luxury villas have received recognition from Travel + Leisure, Forbes and many more reputable global publications.
From breathtaking views, activities for thrill seekers and luxurious dining experiences, Secret Bay is nothing less than magnificent.
Read More: Accolades pour in for Secret Bay Dominica!
Sanctuary Rainforest Eco Resort and Spa
The resort in Roseau Valley, offers a truly serene eco-luxury resort that morphs with nature.
It is currently being constructed in the Morne Trois Pitons National Park and will be nestled close to Middleham Falls. The resort will have high-end luxury spa facilities and fine-dining restaurants.